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Let me explain
Poland
Приєднався 6 лип 2022
Hi, welcome to the 'Let me explain' UA-cam 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.
Переглядів: 822
Відео
Tests of a single variance (for the CFA Level 1 exam)
Переглядів 53728 днів тому
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)
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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)
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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)
Переглядів 920Місяць тому
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)
Переглядів 806Місяць тому
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)
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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)
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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)
Переглядів 596Місяць тому
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)
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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)
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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)
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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)
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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)
Переглядів 8383 місяці тому
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)
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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)
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Profit maximization (for the CFA Level 1 exam)
Cognitive errors - belief perseverence biases (for the CFA Level 1 exam)
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Cognitive errors - belief perseverence biases (for the CFA Level 1 exam)
Alternative investments features and methods (for the CFA Level 1 exam)
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Alternative investments features and methods (for the CFA Level 1 exam)
Derivative features (for the CFA Level 1 exam)
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Derivative features (for the CFA Level 1 exam)
Ordinary and preferred shares (for the CFA Level 1 exam)
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Ordinary and preferred shares (for the CFA Level 1 exam)
Basic EPS (for the CFA Level 1 exam)
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Basic EPS (for the CFA Level 1 exam)
Rates of return - holding period return, arithmetic and geometric mean (for the CFA Level 1 exam)
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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)
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Determinants of interest rates (for the CFA Level 1 exam)
Organizational forms and corporate issuer features (for the CFA Level 1 exam)
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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)
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Coupon rate, payment frequency and yield measures (for the @CFA Level 1 exam)
Fixed income instrument features (for the CFA Level 1 exam)
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Fixed income instrument features (for the CFA Level 1 exam)
Portfolio variance for a two-asset portfolio (for the @CFA Level 1 exam)
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Portfolio variance for a two-asset portfolio (for the @CFA Level 1 exam)
Welcome to the ‘Let me explain' Youtube channel
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Welcome to the ‘Let me explain' UA-cam channel
Covariance and correlation from a joint probability function (for the @CFA Level 1 returns)
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Covariance and correlation from a joint probability function (for the @CFA Level 1 returns)
You make these concepts so easy to understand, thanks a lot. Also, are you planning on releasing any CFA prep materials such as Qbanks and other materials?
Hello Sir Should your videos enough to get concepts cleared ? or better to opt as member. I'm located currently in UAE and can't join as nothing appear when press join button.
Are you viewing from a computer? The UAE is on the list of eligible countries. I certainly recommend you join as a member.
@@letmeexplaincfa I'm trying from mobile , alright will check from computer
Thank you so mucchhh
sir im joining from a country that dont have the access to purchase membership, do you have alternative for that?
Unfortunately not at the moment😔
@@letmeexplaincfaSir it ll be great if you can do any arrangements to make it available to us too and thank you for your reply.
very well explained w/ real life examples. totally loved the content. I have my CFA L1 in november, honestly, I am kind of relying on this channel for majority of my prep. Please post the FSA, derivatives and alternative investments videos as soon as possible.
Thanks 🙏 the derivatives content will be up in the final week of August as per the schedule at www.letmeexplain.eu. I will be uploading FSA in September.
Im taking the CFA L1 2024 and I need to go over TVM, is the content above suitable for this exam ?
Yes, it’s relevant👍
Hello Sir May I know where do teach physically and which country?
Hi, thank you for your message. I teach physically but on in-house courses for financial institutions and it’s not on CFA. Topics. This is in Poland. My only CFA is this channel.
I had a quick question, if an investment property is measure at cost model - is it still measure at historical cost - accumulated depreciation? sorry if I missed something And additionally you noted that, regarding transferring the item, if the item was initially measured at hist cost and now transferred -> the impact(change in carry amt) is on the OCI. What if initially, pre-transfer, it was accounted using the re-valuation model, will the impact(change in carry amt) still be on the OCI?
Hi, regarding the first question: yes. Regarding the second question, yes, I think that what was in OCI stays there upon transfer.
@@letmeexplaincfa Thanks! Really appreciate the quick response :)
Are you writing on a giant glass wall?
👍 yes
The link in the Fixed-Income Markets for Corporate Issuers (Learning Module 4 Volume 4) for repo basics doesn't take you to this video, it takes you to an invalid video address FYI :)
Thanks, I’ll fix it tonight👍
merci beaucoup!!!
When i try to use the TVM, it keeps giving me the wrong amount. Every time i try a practice problem from the text and, for instance, with your problem above, it gave me 50,585 for the two year solution. 😭 Any ideas on why?
Yes, go to the P/Y function by pressing 2nd I/Y and make sure you have 1 entered for P/Y (I think you now have P/Y = 12). You can do this by entering 1 and pressing Enter.
Man you are a rockstar!!. I would like to know if your are able to give particular classes
Hi, thanks for the message! Sorry, I don’t run classes l, just create content for the channel for now.
A bit curious as to why you didn't deduct the 0.8% as well, as in the note is paying EURIBOR rate + 0.80% so I thought the margin should be: 3.355% - (1.5%+0.8%)
Well the required margin is simply what investors require above the reference rate (in this case Euribor), so it does not relate to the original margin as such.
@@letmeexplaincfa Got it, thanks.
If payments started at 4 years, would you just need to discount 1 more period? meaning divide by (1.07)^3?
Yes, that’s right👍
How do I become a channel member ?
Please try viewing the channel from a computer. You should see the Join button. If not, it may be due to your country not being on the list supported for memberships by UA-cam. You can find the list here: support.google.com/youtube/answer/6307365?hl=en
Thank you. `mai know how we do calculation of the NPV of an investment project if there is a perpertuity cash flow using BA II plus calculator?
Please refer to this video: Time Value of Money (TVM) - perpetuities (for the @CFA Level 1 exam) ua-cam.com/video/Oz3O6D9BenE/v-deo.html
What's the difference between discrete compounding and continuous compounding? And you're talking about discrete compounding here, right?
Discrete compounding is when you have compounding occurring with a specified frequency like quarterly or monthly. Continuous compounding occurs when you compound constantly and frequency effectively goes to infinity. The latter is used mainly in derivatives pricing and valuation models.
Thanks a lot for detail explanations. Even I bought another course, I found your videos more powerful.
Thank you so much. That’s very kind🙏
Where can I find the first video on Oligopolies? I can't see it in the playlist 😊
Thank you for spotting this! I just added the relevant video to the economics playlist ahead of this one.
@@letmeexplaincfa Thanks so much!
making it easy to understand with real sites and examples! thank you sir
My “dur” was not shown for my BAII after “ AI”. Do you know what’s wrong with my BA II?
The student version of the calculator does not compute duration. Don’t worry, I always had the student version as well and it never hurt me😉 you will probably have to interpret and use duration as opposed to actually having to calculate it.
The student version of the calculator does not compute duration. Don’t worry, I always had the student version as well and it never hurt me😉 you will probably have to interpret and use duration as opposed to actually having to calculate it.
thank you sir,,its helpfullllll
thank you,,its a great explanation
I don't get why I am not getting this. It looks like very simple maths. Let's say I have a monthly rate of 1.89% and need to find the quarterly and annual. First stage is (1 + 0.0189/12)*12 right? that gives me an annual rate? then I would have 1.0191. To get the quarterly I take the 1 away to get 0.0191 which I would then divide by 4 and then power 4? or take the 0.0191 to power (1/4) and then *4? maybe I'm just tired.
No, once you have the 1.091 (use the actual number on your display without rounding) take this number to the power of 0.25 (1 over 4) now deduct the 1 and multiply the result by 4. You will get a result which slightly higher than 1.89, something like 1.8929…. Which makes sense - with less frequent compounding, you need a higher rate to get to the same result.
hello sir i recently joined this chanel, one question please these 26 videos on this palylist cover all quantative section?
Thanks for joining. Not yet, please consult www.letmeexplain.eu for details. More videos in this section coming on 19 August👍
@@letmeexplaincfa many thanks to you sir i will be waiting and study the current videos
@@letmeexplaincfa one more question sir, can i study the cfa not in order for example fixed income topics are all finished from your side, can i start with it? or i have to follow the order
Absolutely, you can start with Fixed Income. But before doing the numerical sections make sure to watch the video on how to set up the calculator plus the first four or five videos from the time value of money playlist👍
Hey man, I just watched up until 36.37 in the video, went out for a bit of exercise, came back and launched my MBS module, and slammed 8/11 questions including WAC without the formula and other conceptual questions. I instantly recognized that WAC is based on the coupon rate of the tranche, NOT of the mortgage.... Im not the best student, grad with a 2.88, but when I listen/watch someone teach and it sticks with me like this, I take it as a sign that the person is a natural teacher and special. I have only had one professor like that, and you are the second person in my entire life to teach in such an effective way. Your content is amazing, don't stop.... Invaluable.... and only $10..... Appreciate YOU!!!!
🙏
Very simple amd detailed explanations ❤
why do we add 1 while calculating the repurchase price?
Because you repay the original amount (this is the 1) plus interest.
@@letmeexplaincfa thank you sir!
Hello, love your content but could you please turn on membership so that I can join? Cannot join your channel’s membership
Thank you🙏 memberships are turned on. You need to view the channel from a computer to see the Join button. If this does not work, check if your country is on the list of countries where memberships are supported by UA-cam: support.google.com/youtube/answer/6307365?hl=en#zippy=%2Cpremium-memberships-available-locations
thank you sir you have great videos! Could you please upload all the videos for other subjects as my exam is in November🙏🏻
I am recording these videos as I go along. I record and upload on the same day, so they are not ready yet. Please consult: www.letmeexplain.eu for a schedule of uploads.
You Sir are a very much needed addition to the CFA Community, welcome and keep up the great work. Enjoying your video lectures from South Africa.
🙏
hi... kindly upload videos on other subjects also asap. it will be very helpful
Please refer to www.letmeexplaim.eu for the upload schedule.