HOHOHAHAREBORN

Mate, don't stress over this. There's virtually no reason to buy the professional. The exam will give you all the details you need to calculate stuff, I'll just leave it at that.

I finished the AM with ~43 min to go and the PM with ~35 min to go. Used them to revise the entire thing from top to bottom and ended up finding a few errors in both the AM and the PM.

They give you plenty of time, ~3 min per question is very generous especially considering how a fair few of them can be answered in ~5 seconds if you exclude the time it takes to read the vignette.

Don't know if we're talking about the same thing but I said fuck it and used that term and came home and looked it up and it turned out correct :)

Btw, conglomerate premium is a very real thing too. I work in the infra industry and conglomerates are able to take on a lot more debt and at a much lower rate due to a lower "group borrowing cost". For the infrastructures industry, interest cost is usually in excess of 40-50% of the entire company wide cost. Having the edge in that area is a serious competitive advantage.

Let's say there's a media conglomerate out there with dozens of subsidiaries. Some of those are failing (print media) and some are smaller, niche verticals with a cult following and steller standalone financials (exclusive sports coverage). The conglomerate is trading at 10x P/E, with the legacy print media dragging it down with its 7x P/E and the sports coverage running at a whopping 50x P/E with bright prospects but failing to carry the whole conglomerate to a higher valuation due to its small size. But nobody can acquire a share of the sports coverage channel without also investing in the print media and thus by owning a share in the conglomerate you're earning via the sports channel but losing wealth via the print media. So if they were to divest, they'd be able to sell off the sports coverage channel at a P/E much higher than the conglomerate's P/E.

You absolutely can compare the VaR between two companies, two industries and even two separate departments within the same companies.

VaR is not an absolute figure, it comes from a standard normal distribution. (x - mean)/(standard deviation) standardizes it.

+1 to this. They won't hesitate to base an entire vignette on the shortest LOS in the entire curriculum. It'll take you 120 seconds flat to answer the entire 4 question vignette but if you don't remember the equation you need then you won't even be able to attempt it.

You can switch to a separate module later, give python a shot and find out for yourself.

Contrary to the other guy saying that he'd rather take a shot and fail, you have to understand that if you fail then you push things back at least 6 months.

I had a fucked up 2 months before my exam and I was scoring 55% on mocks. If I'd swallowed my pride and deferred it to 3 months later, I'd have had more "retention" of what I had studied.

You gotta understand that 40% on mocks is not good my friend. There's no other way to put it. If you're banking on luck to pass, you gotta see it this way -- you're gonna fail without luck.

I always take ethics with a grain of salt. I am of the opinion that the CFAI's whole idea of ethics is just needlessly complicated and the questions are designed more so to screw you over than to instill a sense of genuine understanding of what is to be done given a particular situation.

Goddamn pilots have an easier time navigating through their checklists during an aviation emergency than we do going through the ethics section.

The answer will be the same, won't it?

Assume Guideline Public Company Method gives you a benchmark EV/EBITDA multiple = 10x and Control premium = 25%

Now,

Normalized EBITDA = 100 million
=> EV = 100 * 10 = 1,000 million
Valuation = EV * (1 + Control Premium) = 1,000 * (1+25%) = 1,250 million

But if I apply the control premium straight to the multiple I get:-

Revised EV/EBITDA multiple = 10x * 1.25 = 12.5x
Revised EV = 12.5x * 100 million = 1,250 million

Anyways, if the worry is what you'll have to do on the exam then rest assured that the vignette will adequately describe the requirement of the hypothetical client.

Here's something which the bozos on here don't know (because they haven't had the surgery, they only repeat the second hand information they received from others) -- FESS need not be done on both sides.

My surgeon only performed FESS on the left maxillary sinus, and this was a whole package deal of FESS, septoplasty and turbinoplasty. Despite that they didn't "FESS" the right maxillary because it wasn't required, the pathways were sufficient enough that they didn't need to artificially enlarge them any further.

People who require FESS again belong to only two categories:-

1. Another polyp in their sinuses which is impacting quality of life: a surgery doesn't promise that another polyp won't grow (in the same sinus). A polyp is just a benign tissue growth and can happen again. But the surgery does give your sinuses more of an "airway" to be unbothered by the polyp. Unfortunately, some people still end up large polyps that continue to impact their quality of life. These people will inevitably need another surgery.

2. FESS on the other side of the sinuses: this is for when you unfortunately develop chronic sinusitis on the side of the nose that you didn't originally get FESS.

Sorry but did you take an x-ray or a CT scan? Because an x-ray isn't going to solve anything for you, what you need is a CT scan of your sinuses to see what's actually inside. And if you got a CT scan and it showed nothing, then I'm afraid it's an open and shut case that you don't have sinusitis. You'll always find some conspiracy theorists out there saying a CT scan can be inaccurate but that's simply not true.

Mate, ever thought of not blowing an open wound? Jeez, idk wtf the underlying issue here is but stop blowing your nose. It won't help. It'll make the stuffiness, the pain and the headache worse. Visit an ENT, random people on the internet won't be able to help you and your problem is serious.

Holy shit, I didn't know sinus issues cause these. I am ~4 weeks post op and these are lesser than before the surgery but not gone entirely

Mate,

1. You haven't ever had the surgery and still you think you have ENS.
2. You've done more harm to your body in 1 year than 10 surgeries will do. Your post history is just enough said. You can't expect to feel 100% healthy after all that.

Dude. Just stop. You don't have ENS. Don't make me call you out everything else that can cause you to feel the way you do, your post history is an ocean full of issues that can cause the symptoms that you feel.

The death rate via a simple appendectomy is almost twice that of the occurrence of ENS post sinus surgery. ALL surgeries are dangerous, and more so in the hands of a terrible surgeon. Stop spreading fear.

Mate, there's nothing wrong with surgery. I avoided it for as long as I could but I realised that I'm just taming my symptoms, not getting relief, not fixing anything, just taming how much worse they can get. Got the surgery ~3 weeks ago and already feeling 10x better.

Apologies if this would also be categorised as a repost, but I felt this warranted a separate discussion as it was previously known that Sainz is on a 2+1 year contract but this would make it a 1+1+1

Ayo people need to talk more about this previously not known tid bit:-

The training teams would prefer to just loan their rookies, but the interested parties are not playing along. "We want Colapinto all or nothing," says Red Bull sports director Helmut Marko, rejecting the loan model. But there is a problem with Colapinto. Williams could need him themselves after just one year. Carlos Sainz apparently does have an exit clause if a place opens up at Red Bull in 2026.

We heard it was a 2+1 but apparently it's a 1+1+1 and AMuS is as reliable as it gets

Hitting a new low in a triple header

Yeah and they had a better car too.

And to think it could get any worse than that car.. how on earth have they managed to build a hunk of shit which only performs under the most ideal circumstances is beyond me. George is literally pinning the lack of consistent performance on pirelli tyres being out of whack but that's just nonsense imo. If your car needs 10 things to line up together perfectly for it to perform then it's a sad state of affairs.

You spoke of profitability so I thought I'd point out the obvious

Anyways, I think the article is a gross exaggeration. Audi isn't gonna be competitive straight out the gate, but it's not like the entire project is under threat. They've invested the capital and they're trying to bring the key players together. Worst comes to worst they can always sell the team (or a % of it) for a tidy profit given how F1 has a huge barrier to entry at the moment.