About the CMT 2016
-
Upload
market-technicians-association -
Category
Documents
-
view
150 -
download
0
Transcript of About the CMT 2016
Advancing the discipline of technical analysis for over 40 years.
Proprietary and confidential. Please do not redistribute or post on the Internet without written permission. The information provided does not constitute investment advice and it should not be relied on as such. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. Past performance is not a guarantee of future results.
© 2015 Market Technicians Association, Inc.
The Chartered Market Technician Program
MTA History Began in 1970 in New York - Over 45 years on Wall St. Incorporated as a not-for-profit Association in 1973.
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Over 35,000 participants Nearly 5,000 Members & Affiliates
Representing over 85 countries•New Chapters: • Athens • Kuala Lumpur• Rio de Janeiro• Johannesburg• Caracas• Riyadh • Taipei
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
The MTA Today
Technical analysis provides the tools to successfully navigate the gap between intrinsic value and market price across all asset classes through a disciplined, systematic approach to market behavior and the law of supply and demand.
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Philosophical Statement
THE GAPIntrinsic Value Market Price
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Drivers of Intrinsic Value Cash flows from existing assets Growth in cash flows Quality of growth
Drivers of Price• Market moods & momentum• Surface stories about fundamentals
Accounting Estimates
Valuation Estimates
Sentiment
Supply & Demand
Slide originally published by Aswath Damodaran
Price versus ValueWhy is the market so often wrong?
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Munehisa Homma1724-1803 Munehisa Homma, was a rice merchant from Sakata, Japan who traded in the Dojima Rice market in Osaka during the Tokugawa Shogunate.
Authored: The Foundation of Gold, 1755
Technicians are sought out for their market wisdom by hundreds of financial journals and reporting agencies in print, television and online media.
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Bottom-up Demand
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Shanghai Composite vs. New Trading Accounts
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
BEIJING BAOFENG
TECHNOLOGIES – IPO 23RD MARCH
29 Chinese IPO’s in April 2015ALL limit up EVERY day of the month
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20150
500
1000
1500
2000
2500
3000
3500
4000
4500Members
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Membership Growth
• Analysts• Portfolio Managers• Strategists• Advisors• Traders• Quants• Allocators
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Who are MTA Members?
Membership Growth
16%
17%
9%2%
55%
0%0%
Europe, Middle East or Africa
Asia
Canada
South & Central America
United States
Australia
Other
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Global Distribution
Membership Growth
1% 23%
3%
7%
19%6%9%
20%
13%
Technical Analyst
Fundamental Analyst
Strategist
Portfolio Manager
Broker
Investment Advisor
Individual Investor/Trader
Other
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Job Titles
Membership Growth
28%
43%
29%
1-5 Years6-15 YearsMore than 15 Years
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Industry Tenure
To establish and maintain the highest professional standards among technical analysts by educating the investment community about the theory, practice and application of technical analysis.
To advance the discipline of technical analysis
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
The MTA Mission
CMT Program – Professional industry credential for Technical AnalysisKnowledge Base - Interactive, flexible, and dynamic repository of key Technical Analysis information. Technically Speaking – Monthly Magazine containing market research, articles, book reviews, interviews, etc…Educational Web Series – Global online presentations. Three live webcasts per month, archived for future reference.MyMTA – Professional network for MTA members only.
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Executing our Mission
The Chartered Market Technician® (CMT) credential is the preeminent, global designation for practitioners of technical analysis. The designation is awarded to those who demonstrate mastery of a core body of knowledge of investment risk in portfolio management settings.
Exams offered in April/May and October each year.
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
The CMT Program
The CMT CurriculumThe CMT Curriculum ensures the candidates’ mastery of a professional body of knowledge
1) Risk Management2) Behavioral Finance Theory3) Determining price trends & patterns4) Trading Systems Design5) Intermarket Analysis 6) Applications across all asset classes
Published by Wiley
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Level I Level II Level IIIMarkets 21% 16%Chart Development & Analysis 47% 36%Technical Investment Strategies 18% 13%System Testing 5% 10%Statistical Analysis 6% 7%Risk Management 15% 21%Asset Relationships 18%Portfolio Management 18%Classical Methods 21%Behavioral Finance 10%Volatility Analysis 7%Ethics & Standards of Practice 3% 3% 5%
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
The CMT Program
The MTA recently announced the adoption of the CFA code of ethics and standards of practice handbook. Candidates must understand the application to real world situations.
The Code of Ethics is now universal among CFA, CAIA and CMT charterholders.
You must pass the ethics portion of the Level III exam in order to complete the CMT Program.
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
MTA Code of Ethics
CMT Level One CMT Level Two CMT Level Three
73% Average Passing Rate since 2010 69% Average Passing
Rate since 2010 57.5% Average Passing Rate since 2010
69%Percentage of
candidates who passed fall ‘15
62%Percentage of
candidates who passed fall ‘15
53%Percentage of
candidates who passed fall ‘15
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
CMT Exams were administered at hundreds of test centers globally over the 3-day exam window
Exam Results
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Test Administration - Prometric
The CMT Program…◦ Preeminent global designation for practitioners of technical analysis.
◦ Offers a structured approach to study technical analysis and ensure mastery of a comprehensive body of knowledge.
◦ Complimentary toolset to other analytical approaches such as macro-economic, fundamental, and quantitative methods.
◦ Offers immediate credibility & recognition
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Value of the CMT Designation
◦ Qualifies for an exemption on the first level of the Series 86 exam, the "Registered Research Analyst" designation from FINRA
◦ Recognized by the Nebraska Department of Banking and Finance, under section 8-1102(1) of the Securities Act of Nebraska
◦ Curriculum is currently under review with the Investment Industry Regulatory Organization of Canada - IIROC.
◦ Countless measures taken with multinational banks, asset management firms, trusts, pensions and family offices to create greater awareness and employment opportunities for CMT Charterholders
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Advocacy for Charterholders
Over 1,650 active charterholders
2,000 candidates enrolled in the CMT Program
Administered 2x a year: October and May
Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 FEB0
200
400
600
800
1000
1200
1400
1600
CMT Charterholders
CMT Charterholders
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Top Down Demand
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Gordon Scott, CMT– Director of CMT Studies Instructional Design, writing and training experience. Contact Gordon with any [email protected]
+1.646.652.3300
Direct Access to MTA HQ Staff
Enroll in the CMT Program1) Join the MTA2) Enroll in the CMT Program3) Register for each exam
www.MTA.org
61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG
Join the MTA as an Affiliate $325 annual membership dues
Enroll in the CMT Program $250 one-time registration fee
Level I Exam Registration $250
Level II Exam Registration $450
Level III Exam Registration $450
All candidates must maintain their MTA membershipThese fees do not include the cost of books.
Market Technicians Association61 Broadway, Suite 514
New York, New York 10006(+1) 646-652-3300
www.mta.org