CFA L3
Capital Market ExpectationsCME (Part 2): Forecasting Asset Class ReturnsOverview of Asset AllocationQuestions (Asset Allocations)PRINCIPLES OF ASSET ALLOCATIONINTRODUCTIONASSET-ONLY ASSET ALLOCATIONS AND MEAN–VARIANCE OPTIMIZATIONMONTE CARLO SIMULATIONCRITICISMS OF MEAN–VARIANCE OPTIMIZATIONADDRESSING THE CRITICISMS OF MEAN–VARIANCE OPTIMIZATIONADDING CONSTRAINTS BEYOND BUDGET CONSTRAINTS, RESAMPLED MVO AND OTHER NON-NORMAL OPTIMIZATION APPROAALLOCATING TO LESS LIQUID ASSET CLASSESRISK BUDGETINGFACTOR-BASED ASSET ALLOCATIONDEVELOPING LIABILITY-RELATIVE ASSET ALLOCATIONS AND CHARACTERIZING THE LIABILITIESAPPROACHES TO LIABILITY-RELATIVE ASSET ALLOCATION: SURPLUS OPTIMIZATIONPage 1Page 2Page 3DEVELOPING GOALS-BASED ASSET ALLOCATIONSCONSTRUCTING SUB-PORTFOLIOS AND THE OVERALL PORTFOLIOREVISITING THE MODULE PROCESS IN DETAILISSUES RELATED TO GOALS-BASED ASSET ALLOCATIONHEURISTICS AND OTHER APPROACHES TO ASSET ALLOCATIONSUMMARYQuestionsCFA Study 13 May Night15 May 2024 - Night Study16 May 12am study16 May noon study16 May midnight study17 May night study17 May midnight study18 May noon study18 May night study18 May midnight study (Options)19 May noon study - volatility19 May 6pm study - options practices20 May morning study (swaps, forwards, futures)Practice: Swaps, Forwards, and Futures StrategiesPractice - Heights Case ScenarioPractice - Tribeca Case ScenarioCURRENCY MANAGEMENT: AN INTRODUCTION30 May evening study31 May morning study31 May Morning study - part 2 - Fixed Income Portflio MGT31 May Noon study -Currency Management Practice Question3 June - Fixed IncomePractice - Fixed Income5 June - LIABILITY-DRIVEN AND INDEX-BASED STRATEGIES8 June - skipped parts8 June - Practice Questions - Liability Driven and Index-based strategies10 June - Yield Curve Strategies11 June - YC Strategies skipped12 June - YC Strategies practices19 June - FI Active Mgt - Credit Strategies (skippe19 June - FI Active mgt summary19 June - FI Active Mgt: Credit StrategiesEquity Portfolio MGT (Gist)Equity Portfolio Management (Skipped)PracticesPassive Equity Investing (Brief)Passive Equity Investing (Skipped)Page 5Practice (PEI)ACTIVE EQUITY INVESTING: STRATEGIESActove Equity Investing (Skipped)Active Equity Investing (Practice Questions)ACTIVE EQUITY INVESTING: PORTFOLIO CONSTRUCTIONActive Equity Investing - Portfolio Construction (Skipped)AEI - Portfolio Constructions (Practices)Hedge Fund Strategies (brief)HF Strategies