Secondary bond markets are often inefficient Here are the top four reasons this might be true (for the CFA L3 exam)

In this post we talk about the reasons for secondary trading in the bond market. A potential level 3 question around fixed income could center ask you to identify one or more of these reasons. 

Why is a 14th century banking innovation important for modern monetary policy? This post explores the rise of fractional reserve banking, the money multiplier, and the equations and concepts you should expect to see tested on the CFA Level 1 exam. 

Knowing when an institutional investor should choose an asset-liability matching framework or an asset-only approach is vital. Here are the six keys to picking the right approach every time. 

The IPS can make or break your performance on the morning section of L3, and that in turn will determine whether you're going to pass the Level 3 exam. Let's break down how it gets tested and each step of the investment policy statement.

In the CFA Level 1 Curriculum, monopolistic competition is a short section bridging longer sections talking about Oligopoly and perfect competition. Don't let its length fool you. It's important to know how ALL of the implications of changing the demand curve from flat to downward sloping in terms of firm profits, market reactions, and overall social welfare. 

A look at curriculum changes from June 2015 to June 2016.