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Let me explain
Poland
Registrace 6. 07. 2022
Hi, welcome to the 'Let me explain' CZcams channel. My name is Wojciech Lyjak and I am a CFA charterholder, a chartered accountant and financial tutor with over 15 years of full-time teaching experience.
'Let me explain' brings you regular explainer videos covering the CFA Curriculum. The CFA Level 1 2024 playlists are updated weekly with the aim of covering the entire syllabus in the time until the November 2024 sitting. Please note that a large portion of the content is available to channel Members only.
Please visit: www.letmeexplain.eu/
for a detailed schedule of upcoming video uploads as well as a listing of existing videos and topic area coverage.
'Let me explain' brings you regular explainer videos covering the CFA Curriculum. The CFA Level 1 2024 playlists are updated weekly with the aim of covering the entire syllabus in the time until the November 2024 sitting. Please note that a large portion of the content is available to channel Members only.
Please visit: www.letmeexplain.eu/
for a detailed schedule of upcoming video uploads as well as a listing of existing videos and topic area coverage.
Estimating the parameters of the simple linear regression - SLR (for the CFA Level 1 exam)
Estimating the parameters of the simple linear regression - SLR (for the CFA Level 1 exam) provides a qlakthrough example of computing the regression intercept and slope coefficients on the Texas Instruments BA II Plus calculator as well as on paper. We also discuss the intercept properties and differences between cross-sectional and time-series regression.
This video explores topics covered in Lesson 2, Learning Module 10 of the Quantitative Methods section of the 2024 CFA Level 1 Curriculum.
This video explores topics covered in Lesson 2, Learning Module 10 of the Quantitative Methods section of the 2024 CFA Level 1 Curriculum.
zhlédnutí: 342
Video
Tests of a single variance (for the CFA Level 1 exam)
zhlédnutí 351Před dnem
Tests of a single variance (for the CFA Level 1 exam) provides a walkthrough example of the chi-squared distribution being applied in hypothesis testing. This video explores topics covered in Lesson 3, Learning Module 8 of the Quantitative Methods section of the 2024 CFA Level 1 Curriculum.
Hypothesis testing overview (for the CFA Level 1 exam)
zhlédnutí 776Před dnem
Hypothesis testing overview (for the CFA Level 1 exam) discusses: - the steps involved in performing a hypothesis test, - the properties of the Student's t-distribution, as well as - Type I and Type II errors This video explores topics covered in Lesson 2, Learning Module 8 of the Quantitative Methods section of the 2024 CFA Level 1 Curriculum.
RMBS (for the CFA Level 1 exam)
zhlédnutí 587Před dnem
RMBS (for the CFA Level 1 exam) discusses the logic and mechanics of Residential Mortgage-Backed Securities with particular focus on: - mortgage pass-through securities, and - CMO (Collateralised Morthage Obligations). We discuss several CMO variants, including: - sequential-pay CMO, - Z-tranches (accural tranches) - PO (Principal-Only) and IO (Interest-Only) tranches, - floating-rate tranches,...
Financial ratios in corporate credit analysis (for the CFA Level 1 exam)
zhlédnutí 732Před 14 dny
Financial ratios in corporate credit analysis (for the CFA Level 1 exam) examines the three most common groups of financial ratios used in corporate credit analysis: - profitability ratios, - coverage ratios, and - leverage ratios. This video explores topics covered in Lesson 3, Learning Module 16 of the Fixed Income section of the 2024 CFA Level 1 Curriculum.
Investment horizon and interest rate risk (for the CFA Level 1 exam)
zhlédnutí 536Před 14 dny
Investment horizon and interest rate risk (for the CFA Level 1 exam) analyses the implications for reinvestment and price risk of holding a bond for an investment horizon equal to its Macualay duration. We also discuss what happens when the investment horizon is shorter or longer. This video explores topics covered in Lesson 3, Learning Module 10 of the Fixed Income section of the 2024 CFA Leve...
Periodicity and annualised yields (for the CFA Level 1 exam)
zhlédnutí 516Před 21 dnem
Periodicity and annualised yields (for the CFA Level 1 exam) discusses: - the significance of the periodicity assumtion for computing the annual Yield to Maturity, - the computation of the YTM for zero coupon and strip bonds, - the conversion between annual yields calculated under different periodicity assumptions. This video explores topics covered in Lesson 2, Learning Module 7 of the Fixed I...
Credit rating agencies and credit ratings (for the CFA Level 1 exam)
zhlédnutí 493Před 28 dny
Credit rating agencies and credit ratings (for the CFA Level 1 exam) discusses: - the role of credit rating agencies and the analytical process which they apply, - the issues present in credit ratings. This video explores topics covered in Lesson 3, Learning Module 14 of the Fixed Income section of the 2024 CFA Level 1 Curriculum.
ABS structures to address credit risk (for the CFA Level 1 exam)
zhlédnutí 474Před měsícem
ABS structures to address credit risk (for the CFA Level 1 exam) discusses internal and external credit enhancements, including overcollateralization, excess spread and credit tranching (subordination). This video explores topics covered in Lesson 3, Learning Module 18 of the Fixed Income section of the 2024 CFA Level 1 Curriculum.
Sovereign debt issuance and trading (for the CFA Level 1 exam)
zhlédnutí 705Před měsícem
Sovereign debt issuance and trading (for the CFA Level 1 exam) discusses: - the placing of competitive and non-competitive bids at public auctions for sovereign debt, - single- and multiple-price auction formats, - the role of primary dealers, as well as - secondary markte trading in government debt securities. This video explores topics covered in Lesson 3, Learning Module 5 of the Fixed Incom...
Repurchase agreements (repo) basics (for the CFA Level 1 exam)
zhlédnutí 1,3KPřed měsícem
Repurchase agreements (repo) basics (for the CFA Level 1 exam) explores the mechanics of repo transations, including: - the actions of the cash borrower and cash lender, - the use of collateral, - the computation of repurchase price, - the significance of initial margin and haircuts, - the computation of variation margin. This video explores topics covered in Lesson 3, Learning Module 4 of the ...
Primary and secondary fixed income markets (for the CFA Level 1 exam)
zhlédnutí 1,1KPřed měsícem
Primary and secondary fixed income markets (for the CFA Level 1 exam) explores: - the rationale for debut issuers, - repeat issuers, - the role of underwriters, - the factors affecting liquidity in secondary bond markets, and - trading in distressed debt. This video explores topics covered in Lesson 4, Learning Module 3 of the Fixed Income section of the 2024 CFA Level 1 Curriculum.
Sampling methods (for the CFA Level 1 exam)
zhlédnutí 1,4KPřed 2 měsíci
Sampling methods (for the CFA Level 1 exam) explores the concepts behind probability and non-probability sampling, most notably: - stratified random sampling, - cluster sampling, and - non-probability sampling. This video explores topics covered in Lesson 2, Learning Module 7 of the Quantitative Methods section of the 2024 CFA Level 1 Curriculum.
Factors affecting option value (for the CFA Level 1 exam)
zhlédnutí 661Před 2 měsíci
Factors affecting option value (for the CFA Level 1 exam) discusses the impact of the following factors on the value of call and put options: - value of the underlying, - exercise price, - time to expiration, - the level of interest rates, - underlying volatility, - income and costs related to owning the underlying. This video explores topics covered in Lesson 8, Learning Module 8 of the Deriva...
Nash equilibrium and collusion (for the CFA Level 1 exam)
zhlédnutí 642Před 2 měsíci
Nash equilibrium and collusion (for the CFA Level 1 exam) explores: - how to find the Nash equilibrium in an exam-style question, - the conditions which favour producer/supplier collusion, - the Stackelberg model, - long-term output and price in oligopoly markts. This video explores topics covered in Lesson 5, Learning Module 1 of the Economics section of the 2024 CFA Level 1 Curriculum.
Profit maximization (for the CFA Level 1 exam)
zhlédnutí 3,7KPřed 4 měsíci
Profit maximization (for the CFA Level 1 exam)
Cognitive errors - belief perseverence biases (for the CFA Level 1 exam)
zhlédnutí 1,8KPřed 4 měsíci
Cognitive errors - belief perseverence biases (for the CFA Level 1 exam)
Alternative investments features and methods (for the CFA Level 1 exam)
zhlédnutí 2,4KPřed 4 měsíci
Alternative investments features and methods (for the CFA Level 1 exam)
Derivative features (for the CFA Level 1 exam)
zhlédnutí 4,3KPřed 5 měsíci
Derivative features (for the CFA Level 1 exam)
Ordinary and preferred shares (for the CFA Level 1 exam)
zhlédnutí 1,2KPřed 5 měsíci
Ordinary and preferred shares (for the CFA Level 1 exam)
Rates of return - holding period return, arithmetic and geometric mean (for the CFA Level 1 exam)
zhlédnutí 5KPřed 5 měsíci
Rates of return - holding period return, arithmetic and geometric mean (for the CFA Level 1 exam)
Determinants of interest rates (for the CFA Level 1 exam)
zhlédnutí 10KPřed 5 měsíci
Determinants of interest rates (for the CFA Level 1 exam)
Organizational forms and corporate issuer features (for the CFA Level 1 exam)
zhlédnutí 1,8KPřed 5 měsíci
Organizational forms and corporate issuer features (for the CFA Level 1 exam)
Coupon rate, payment frequency and yield measures (for the @CFA Level 1 exam)
zhlédnutí 2,9KPřed 6 měsíci
Coupon rate, payment frequency and yield measures (for the @CFA Level 1 exam)
Fixed income instrument features (for the CFA Level 1 exam)
zhlédnutí 9KPřed 6 měsíci
Fixed income instrument features (for the CFA Level 1 exam)
Portfolio variance for a two-asset portfolio (for the @CFA Level 1 exam)
zhlédnutí 5KPřed rokem
Portfolio variance for a two-asset portfolio (for the @CFA Level 1 exam)
Welcome to the ‘Let me explain' Youtube channel
zhlédnutí 3,9KPřed rokem
Welcome to the ‘Let me explain' CZcams channel
Covariance and correlation from a joint probability function (for the @CFA Level 1 returns)
zhlédnutí 4,4KPřed rokem
Covariance and correlation from a joint probability function (for the @CFA Level 1 returns)
Thanks god i understand it , but feel my brain exahusted alot 😂😂
😜
how do i become a member sir?
Hi, please look for the Join button when viewing the channel from a computer.
@@letmeexplaincfa this is really interesting. I can’t even find that join button🥺 i mean i have already subscribed but there is no ‘join’ option!
seems like it is region restricted :(
Yes, CZcams only allows memberships in some countries. This is the list: support.google.com/youtube/answer/6307365?hl=en
@@letmeexplaincfa ahh😶😶😶😶😶😶
Thank you
Thank you
For the example problem, I initially thought to try finding a definite value rather than a range by taking the difference of maturity between investment 2 and 4 then dividing it by 2 to get 1.5. Would that method work?
Well, this approach is what we do in a section called Matrix Pricing😉 so yes, it works. But in this section, they will phrase the answers as a range👍
Another amazing content! Quick question, (1) what is the logic of UITF and ETFs not being part of alternative investment? How is it different with funds?(2) is fund manager same with portfolio manager vs brokers? (3) who manages each alternative investment? Is it different per each type of alternative investment ? I.e. if fund = fund manger, hedge fund = ?, real estate =?, infrastructure =?, private capital =?, commodities=?, natural resources=? Or an investor can directly manage it? (4) will you consider copy trading as an alternative investment? Thanks
Thanks. 1) alternative investments is more about asset classes (commodities, real estate, private equity) than vehicles used to make investments 2) not sure what you mean? 3) yes, they are very much different
4) copy trading is a method, not an asset class in its own right
Great video
Great 👍
Hello, great video. Do we have to know each formula for hypothesis testing ?
Unfortunately yes. The Learning outcome statement for this section states “construct hypothesis tests …” I would nevertheless just learn a few, the ones which you find easiest and for others, just know which distribution (t, cho-squared, F) is applicable. That’s what I did when I took my exam many years ago😜
@@letmeexplaincfa 😅 okay thank you so much for the answer!
If we put them all together, what is the difference between stated rate, effective rate, required rate of return, discount rate, WACC (cost% capital) Which terms can be used interchangeably? And which topics will it touch on for us to keep in mind
Hi, they can all appear interchangeably to be honest. The name typically depends on topic area. These terms appear in quantitative methods, fixed income, equity investments, portfolio mgmt and corporate issuers.
How do I become a member.
Please look for the Join button when viewing on a computer
Do i have to format the calculater whenever i turn it on?
No
Thank u Sir ❤
Hey How do I become a member of the channel? Couldn’t find any details on the community page
Look for the Join button when viewing in a computer
Thanks for the great videos, is this something we have to know called gordon model ? Assuming a constant rate of growth in dividends, we can estimate an equity share's: A) dividend yield as the sum of its required rate of return and its growth rate. B) growth rate as the sum of its dividend yield and its required rate of return. C) required rate of return as the sum of its dividend yield and growth rate.
also something called : implied forward rates
You are welcome :) Yes, the Gordon Model is tackled in the initial videos in this playlist: czcams.com/play/PLzsMtRJ44d8yg5Om7mb1CRXqr0xJEW8Uh.html
Yes, this is covered here: czcams.com/video/lJu86I7jdS4/video.html
Hi, How do I find the rest of the Time value of Money videos as structured by the CFA? It includes "TVM in fixed income and equity", "Implied Return and Growth," and "Cash flow additivity." Your website said this TVM topic is found in other topic area. Could you list out specifically where I can find them? thank you and your channel has helped me alot.
Hi, there are no specific videos as such to cover these topics. My point is, that if you watch the Fixed Income plalist which includes bond valuation concepts or the Equity videos on the Gordon growth model, like this one: czcams.com/video/A-CMXZuwYAc/video.html, you will understand these concepts.
I search for your channel on chrome using my laptop but it doesn’t show join button .. how to join for members only video?
Please check if your country is on this list: support.google.com/youtube/answer/6307365?hl=en Unfortunately, channel memberships are not available in all countries (CZcams policy)😔
Sir, In single price bid uncompetitive gets the bond based on one price determined by competitive bidders. But in multiple price bid everyone pays for the price quoted by them in that case uncompetitive bidders get bond at what price? Please tell the number from the example used it would be easy to understand.
In a multiple price auction, I cannot say what the price is for the uncompetitive bidders. It will probably depend on the specific rules set by the individual government. I don’t know what that price was in this example😔
No worries sir got it!
I think you are going through same the videos as I am working through the material haha!
How come your content isn't more famous and doesn't have more views? Thank you for this brilliant and professional content.
Thanks, please help spread the word😉
What would be the conclusion to make (based on this specific question) on the performance of the 3 portfolios since based on Jensen's alpha, Portfolio Z yields the highest return but based on M^2 and Treynor Ratio, Portfolio Y yields the highest return. Which one, Y or Z would yield the higher return? Appreciate your thoughts on this!
The portfolio returns are a given. What Jensen's alpha is showing you is how much extra return you get from a portfolio in excess of what it should generate under the CAPM model, i.e. by how much the portfolio overperforms for its level of systematic risk.