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To: Knighty Tin who wrote (40536)11/3/2005 2:56:07 PM
From: LLCF  Read Replies (1) | Respond to of 116555
 
Yea, in the world of theory and ivory towers burning portfolio's can be quite beautiful if described in the right way. -gggg-

Agree on CFA... they also blindly subscribed to equity allocation based solely on investment horizon regardless of the price of the equity...

Alas, I got out of the course what I wanted although I didn't pass the third test... and didn't bother to repeat, and gave up trying to find someone there that might understand why 'portfolio insurance' was a dangerous misnomer. I don't know if they ever changed that section or not.

In any case, obviously all the I-Bankers involved in derivatives know all that stuff... as usual it's the case of 'knowing a little bit' is dangerous... better knowing nothing at all and ignoring those pesky 'sales traders' with some crazy "structured product" for sale.

DAK