Recently, the Financial Times published an article entitled “Demand ‘falls off cliff’ for CFA financial analyst qualification”, in which the authors pointed to a 40% decrease in the number of CFA level 1 candidates sitting for the exam compared to 2019. The article suggested that the high workload required to pass the exam, the historically low pass rates, and pandemic-related disruptions had caused more prospective students to rethink whether the qualification was relevant to their careers. An anonymous senior CFA Institute staff member was quoted saying, “People today are turned off by studying for long hours for an exam with a low pass rate that is only valued by employers when they apply for a job, and is irrelevant thereafter.” Hearing this news, one might get the wrong impression that demand for professional designations is waning. Without going into an argument about whether or not one should take the “hardest exam in finance”,

According to Oxford Economics, Americans saved roughly $3.7 trillion during the pandemic. However, approximately $360 billion of that amount will be spent by the end of 2022. Think twice, where will all the $$$s go? Looking at the statistics, more than 69% of that spending is by the wealthiest 20% of households. Moreover, what goes hand in hand with wealth, is expensive items. Luxury goods need no introduction. They are known for strong brand identity, high operating margins and timeless products. But are they also a good investment in the current markets? During the pandemic these companies have demonstrated cash-rich balance sheets and high profitability. But will they be able to continue their growth in the tricky environment of high inflation, pressured stock markets, supply chain issues and a possible recession? I found a feasible explanation in a study by the Bank of America, which showed that the correlation between luxury spending and the

US benchmark index S&P 500 index closed out its worst first half of a year since 1970 with a drop of 20.6%. The Nasdaq Composite finished the first half down 29.5% and notched its worst first-half performance on record. The MSCI global stock index was down 20.9% for the first half of 2022, its biggest first-half of a year percentage drop on record. Back home, markets are also grinding lower. Nifty ended June month ~5% lower and 9.4% lower for the quarter as FPIs continue to be sellers on almost all days. Nifty has ended the third consecutive expiry in the red where it ended June series with the losses of 2.41%. Nifty witnessed sharp sell off from the start of the June series and touched the low of 15183 level but towards the end the index recovered by almost 700 points. A majority of the fall was contributed by Metals, Pharma, Realty

This diversified collection of New York Stock Exchange traded stocks are breaking back upwards and above previous resistance levels. These point-and-figure charts tell the story of more demand than supply, that is, enough new buying that sellers give up enough for trend to reverse. Some are making higher highs. Others are taking out downtrend lines, an early indication of possible change of direction, it it holds. This method of price chart analysis gives a different picture than candlesticks or OHLC (open, high, low, close). Because “p&f” is not as widely used as back in the 50’s and 60’s, this makes it valuable for those looking for the less popular. Evolent Health There are not many charts like this showing NYSE-traded stocks almost straight up off of the March, 2020 pandemic lows. Most stocks dipped here and there and then began to sell-off at the beginning of 2022. Evolent Health just keeps going. It’s

CMT Association’s Discord server is fast becoming a vibrant space for members to participate and share knowledge, network and build their personal credibility in our community. One of the premium access benefits for active members and candidates is our job board. This is a space where we post opportunities that companies reach out to us with.  In the past month, some interesting roles were posted. Feel free to visit the job board in the “Premium Access” section of the website to check out the details. The company names below link to the job posted on Discord. S&P Global Market Intelligence Choice India McMillan Analysis Corporation Fidelity International Goldilocks Premium Research StockTwits International (Internship) StockCharts.com Forex4Money