Canadian Securities Course?

[Cosine]

I was thinking about enrolling in this course.. Any thoughts? Not for a career change, but for self-knowledge of general financial investing.. I'm still new at all of this! Does it have any value, or should I take a course at a community college instead?

I have taken some dinky econ and accounting courses in University a while ago, nothing of practical value though, IMO. I guess I shouldn't have skipped so many lectures.. hehe

 

[Play[er]boy]

what school do you have in mind?

 

[xarir]

IMHO I think the CSC is a waste. If you're just interested for general self-knowledge, I wouldn't bother. The CSC doesn't actually teach you anything beyond what you'll pick up by just simply paying attention and reading Report on Business every day. The topics covered are general and don't particularly go into any sort of depth.

If you want to learn about things like covered calls, derivatives, bonds etc you can pick up a decent textbook or two at a university bookstore and just read it yoursef.

On the other hand, if you ever have an urge to get into the financial world, a lot of jobs will require the CSC as a minimum requirement. That doesn't mean the CSC is a good course or anything - it's just the industry's way of saying they expect a base knowledge of things financial.

 

[thecoolguyms72]

CSC

what school do you have in mind?

The CSC is only offered by the Canadian Securities Institute, that I'm aware of. For the cost of the course, I think it's $400 or something like that now, I wouldn't bother with it. Some of the other posters are correct (xarir), in that it is technical, boring, and very dry. It's not all that informative, really, if you ask me. I'm in the industry, so that should tell you a little something. If you really want to read the books, if you happen to know someone who has taken the course, any investment brokers, some bankers, etc. they could loan you their books, and you can see for yourself.

As for finance and theory, I'd go to your local university library, as I think xarir suggested, and you can get many texts that are as or more in depth than the CSC on finance and finance theory. If you want a couple of good books on investing, try Jeremy Seigel's "Stocks for the Long Run" or Benjamin Graham's "The Intelligent Investor". Two classic books encapsulating theory and history.

I have a list of other books that might be helpful as well. For the cost of the CSC course, you could have a great library of excellent books that blow the CSC away. If you're prepared to pay $400 or $500 to learn, that's how I'd do it.

Coolguy.

 

[Cosine]

Thanks for the advice. I think I'll pass on the CSC, for the time being. I'm eagerly awaiting my "Canadian Business" subscription in the mail. Yes! I can already foresee the moolah rolling in. Ha!

 

[thecoolguyms72]

Hey, Cosine, another great economic publication, The Economist. Although, I wouldn't consider Canadian Business to be great by any stretch, kind of crappy, and too Canadian, if that's possible.

There are many others, if you want help, let me know.

 

[chucklehead]

The CSC will teach you very little about how to invest money successully. If I am interpreting your post correctly, this is what you are looking to do rather than pursue a career in the investment industry.

I would recommend that you read something from Benjamin Graham if you are interested in value investing or William O'Neill if you are interested in growth oriented investing. If you are looking for specific stock recommendations, I think that Value Line is pretty good and they offer a discounted trial subscription.

 

[SirLickheralot]

Re: CSC

The CSC is only offered by the Canadian Securities Institute, that I'm aware of. For the cost of the course, I think it's $400 or something like that now,

Actually unless he is already in the industry the price for private students is over $600 with the text book.

I took the course back in University because it counted as 3 credits towards my degree, but I agree unless you need the certificate for a job don't waste your money. $600+ can buy alot of investment and finance books and the knowledge you will gain will be much more useful.

 

[Snake Pliskin]

The good aspect about taking a course is that it forces you to follow through to completion, unless you're a quitter. I don't know about the rest of you, but I have a few unread books on my shelf.

Anytime I've taken a night course, I've learned more. Plus, I get a little keyed up and determined about getting real good marks, and you just don't get that drive from reading a book at home...with the TV or stereo on...beer in hand...TERB on the computer...etc.

 

[wrong hole]

I heard the CSC is a joke....it's pretty easy

...why don't you go for your CFA or CFP....

 

[Snake Pliskin]

Don't you need CSC before you can get CFP?

 

[wrong hole]

I don't think so

...but I could be wrong

 

[bigdik]

CSC has a 65% first time fail rate. Not so easy. If you don't want to work in the industry, don't take any CSI courses, they will not pay off for you as an investor. You can go for CFP without CSC, but it won't get you a job, unless Primerica is your idea of a job. CFA has CSC as a prerquisite.

 

[bigdik]

You cannot trade stock professionally without CSC and CPH. they are the requirements to be licensed by the IDA. CFP will allow you to sell Mutual Funds, Insurance and other investment instruments, but you can not deal in securities without an IDA license. None of the CSI courses are for the individual investor. Read some books, or if you have very little knowledge, get a broker!

 

[wrong hole]

If you just want to make lots of cash and hang out with traders

....why don't you just sell coke to them

the coke scene on bay street is insane.....

 

[bigdik]

Now that's good investment advice.

 

[bigdik]

There is no such thing as a floor trader anymore, but I know what you mean. Day trading is extremely risky, and should only be done by a knowledgable investor. I have been in the market both personally and (briefly) professionally for many years,and saw a lot of people lose their retirement funds in the tech crash because they didn't understand the risks. We had investors sue my former employer because it was beyond their comprehension they could lose their principle. If you understand the market is a huge casino, go and play. Be prepared to lose, as you would at a casino. If you don't want to spend all your time doing research, find a GOOD broker, and stay on him/her to ensure your best interests are being looked out for. There is a lot of money to be made in the market, but you should never risk anything you can't afford to lose. The less knowledge you have, the higher the risk. The derivatives copurse is required to trade PROFESSIONALLY in derivatives. There is also an Options course. CSC/CPH are all that are required to trade stock.

 

[HowardHughes]

I don't believe that you need the CSC to get your CFA. In order to get your CFA (at least when I wrote the 3 levels) - you need the endorsement from at least one current CFA, and another professional (P. Eng, or something like that). As for the CSC - it is a joke - it is a waste of your time and money - instead, I would recommend that you get a year's subscription to the ROB - you'll learn a lot of relevant information there.

The CFA is a serious endeavour, and not to be taken lightly. The CSC is akin to a mail-in course - so 'nuff said.

Hope this helps,

HH

 

[wrong hole]

Mr. Hughes,

I think you've been hanging out in the Spruce Goose for far too long....we've already discuss the CSC, CFP, CFA....

now we are onto coke cartels on bay street and how they all use baby laxatives to cut the product...and around 2:30 pm...all the brokers make a mad rushed to the can....

 

[HowardHughes]

Just wait until I reveal what I'm working on now...

Besides, the CFA, CPH, and CSCs are worth spit