The definitive Schweser post

There’s lots of debate on analystforum.com and elsewhere about schweser for test prep versus other sources vs. the curricula.  I have some very strong opinions about it, and I’ll let them all out here.  First though, know that the only prep I have ever tried is Schweser, so I can’t comment on the others.

First, the CFA curricula is terrible.  It’s not even a textbook in the true sense of the word.  It’s just a bunch of articles strung together from various publications.  I guess it’s better than it used to be, but it still sucks IMO.  Probably 1/4 of the curriculum is “commented out,” i.e., non testable, which demonstrates the lack of editing that took place.  It’s awful.  If you have all the time in the world, maybe it would be worth going through it, but I refuse.  I went through it in detail for the first time in LI, failed, and didn’t even crack it for LI retake or LII (which I passed first time).  It’s the pits.  I guess you should use the end of chapter questions out of the curriculum (I didn’t) but other than that don’t bother.

Now imagine someone took the LOSs from the CFA institute, put them in order, and then succinctly stated the full body of knowledge in a logical format.  That would be the Schweser Notes pack.  It takes the curriculum down from 5 fat books to 5 skinny books, but more importantly uses a format someone could actually use that has shit to do other than study all day.  I go through all these once.

Now imagine someone condensed the logically presented notes down into actual summary “notes” which only feature the high probability/hard to remember stuff.  That would be Schweser’s Secret Sauce.  This book is so key that I believe you could easily pass any level studying only secret sauce.  However, ironically, (probably since you wouldn’t need the notes if it came out earlier) Schweser only releases the notes for you in March.  This book comprises 75%+ of my studying.

Schweser’s Quicksheet is essentially a six page summary of the key-est formulas and concepts.  Good for studying at redlights, in the can, in lines at the store because it’s somewhat discreet.  Make a copy in case you lose the original.

Schweser’s practice exams– more than being good test prep, they go over the key-est concepts again, presented somewhat trickily.

BOTTOM LINE:  GET SECRET SAUCE, if nothing else, and you will pass.

That is all.