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hamstrman
02-15-2008, 11:37 AM
So he said the manual would be updated "in the coming weeks". Well, weeks have come and no updates... How late did the final version come out last year?

rsgoldfarb
02-15-2008, 10:41 PM
I apologize that other commitments made it impossible for me to complete the manual as planned on Feb 1. I will complete the missing readings as quickly as possible.

Richard Goldfarb

UAT
02-15-2008, 11:48 PM
The last update for the FET manual was 9/9, just after the seminar, and still about 7 weeks before the test. There's plenty to go through as it is. Besides, its only been about 2 weeks since it was released and there are very few missing readings. I am more than confident that Goldfarb will complete the manual well before the exam.

Happier
02-16-2008, 03:36 AM
Mr. Goldfarb, I believe some of the new materials you added is errornous. Do you read your e-mails?

beck
02-16-2008, 12:26 PM
Mr. Goldfarb, I believe some of the new materials you added is errornous. Do you read your e-mails?

which parts?

rsgoldfarb
02-16-2008, 01:07 PM
Happier - If you think I have included incorrect information in the manual, please let me know what that is so that I can correct it. I have not recceived any emails from you on this subject. Please send it to me at richard.goldfarb@goldfarbseminars.com.

rsgoldfarb
02-17-2008, 11:55 AM
Happier - Thanks for your email regarding what you thought was an "error" in my discussion of the replication of the barrier option. I believe you have misinterpreted the methodology as discussed in Hull.

All of the options are incorporated NOW into the portfolio. They are not added sequentially at different points in time. As a result, the "T" in my discussion is the time from today, which means T=0 means now, T=.75 is the maturity of the option, etc. All of the options are valued as of today, at T=0 and have maturities of either .25 years, .5 years or .75 years. The procedure tries to make sure that the portfolio value will be replicated at maturity, at T=.5, at T=.25 and at T=0. But all of the options are valued as of today, with different maturities.

In reviewing what you sent me, I don't believe that you have done this properly. I'd be interested to see how your solution compares to the solution in the textbook or on the exam from 2007. Let me know once you work that through using your method.

Richard Goldfarb

Happier
02-17-2008, 09:19 PM
Mr. Goldfarb, thanks for your comments. I will rework it. I have my work on paper, if you are interested in seeing it, I will fax it to you.

hardlife
02-25-2008, 03:10 PM
anyone knows when is the expected date where the full manual would be available?

flowers22888
03-01-2008, 12:29 AM
Does Goldfarb's manual categorize pass exam questions based on different chapters?

AggieAct02
03-07-2008, 05:09 PM
It is categorized by syllabus section but not by chapter.

FrankieY18
03-10-2008, 11:36 PM
When should we expect the new updates be available? It's getting closer to the exam. Thanks.

sundwarf
03-17-2008, 09:09 PM
It's little more than 7 weeks left until the exam. Richard do you have an expected time frame that the updates will be available?

han72
03-25-2008, 05:29 PM
I was just curious about how much update was done to the new version of the manual. I bought last year's manual second hand and plan to use it as an supplement for JAM. Can't find much information from Goldfarb's website though.

han72
03-27-2008, 01:43 PM
Anyone cares to help?

sundwarf
03-29-2008, 12:57 PM
new version should include notes of the new readings, and the contents are slightly rearranged so that the notes are now in the appropriate sections.

did anyone hear any response from Goldfarb? He's not responding to this forum nor to my email.

Stokeley
03-29-2008, 01:34 PM
I can't get a response either.

Hayden
04-03-2008, 10:24 AM
:bump: anybody hear anything?

sundwarf
04-03-2008, 10:46 AM
Nope. But Apparently he's around.
http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=134882

rsgoldfarb
04-06-2008, 12:12 PM
I apologize to everyone who has been waiting for the missing readings to be included in the manual. I had a series of unexpected demands on my time over the past few months that has prevented me from completing the manual. I will do my best to complete the missing readings as quickly as possible.

Sorry again for the inconvenience.

Richard Goldfarb

sundwarf
04-21-2008, 10:43 AM
We have little more than 2 weeks left until the exam. So when will the manual finally be updated? Can you at least upload what you have so far, perhaps?

Hayden
04-21-2008, 11:18 AM
:swear::swear::swear:

also, would it be tacky to ask for a refund. I paid for this manual myself (had the company pay for the expensive ones :danim:)

AAA
04-21-2008, 11:21 AM
I give up waiting and turn back to JAMS

sundwarf
04-21-2008, 12:22 PM
the thing is this is my only study manual!!!!!

although I have JAM's flash cards as well, but it's just a summary from JAM manual's condensed summary... I am screwed.

Hayden
04-21-2008, 01:19 PM
this is my only study manual!!!!! ... I am screwed. Don't freak out too much. I can't recall all of the readings skipped by Goldfarb but I know three of them pertain to IAS 39. You either memorize that stuff, or you don't. Not much learning to be done there. Same thing could be said about The Group of Thirty note he skipped. He does a much better job with explaining calculation type questions than getting things in memorizable format.

sundwarf
04-21-2008, 02:17 PM
Don't freak out too much. I can't recall all of the readings skipped by Goldfarb but I know three of them pertain to IAS 39. You either memorize that stuff, or you don't. Not much learning to be done there. Same thing could be said about The Group of Thirty note he skipped. He does a much better job with explaining calculation type questions than getting things in memorizable format.

Thanks. His comprehensive explanation is the reason why I chose his manual. I read most of the required readings, but sometimes I rely on his manual because of the poor writing styles of the textbooks.

Still, without a complete manual with me makes me freak out a bit, especially when exam is THIS close.

sundwarf
04-24-2008, 07:58 PM
Call me stubborn or something, but seems like I am the only person who keeps asking for the updated manual.

My patience has gradually deteriorated into frustration. The exam is now 2 weeks away and not having a complete manual in my hands is ridiculous. No matter what the unexpected commitments are, aren't we, customers, a commitment as well? Many people probably wouldn't have bought it if they foresaw this to happen. Maybe the missing sections are not that crucial to the exam. Still, by missing a page means the manual is already not complete, let alone 13 chapters worth of notes. Those readings can easily add up to 70 pages of notes, which is like 10% of the totally manual.

I think it's acceptable if those notes are updated regularly, say, once a week, so that we all know what the current stage of the manual is. However, with only 14 days left, I still haven't received any emails/ update on the status. If I were not a regular AOer I wouldn't even know a message is posted here couple weeks ago. I really don't see we are committed as customers.

Perhaps I cared too much about the completeness of the manual. However, I do want to let my feelings known.

hamstrman
04-25-2008, 11:33 PM
Call me stubborn or something, but seems like I am the only person who keeps asking for the updated manual.

My patience has gradually deteriorated into frustration. The exam is now 2 weeks away and not having a complete manual in my hands is ridiculous. No matter what the unexpected commitments are, aren't we, customers, a commitment as well? Many people probably wouldn't have bought it if they foresaw this to happen. Maybe the missing sections are not that crucial to the exam. Still, by missing a page means the manual is already not complete, let alone 13 chapters worth of notes. Those readings can easily add up to 70 pages of notes, which is like 10% of the totally manual.

I think it's acceptable if those notes are updated regularly, say, once a week, so that we all know what the current stage of the manual is. However, with only 14 days left, I still haven't received any emails/ update on the status. If I were not a regular AOer I wouldn't even know a message is posted here couple weeks ago. I really don't see we are committed as customers.

Perhaps I cared too much about the completeness of the manual. However, I do want to let my feelings known.

I agree with your sentiment of frustration. I was the one who started this thread in the first place. I do have both manuals (JAM and Goldfarb) and, admittedly, my company paid for them, but the principle still holds. We should be a priority at this point. If other new commitments come up, he should inform whomever is asking that he has to provide for his paying customers first because they are under time constraints.

I can't imagine why, even if he can't finish the manual, he won't update us on the status of it or finally put us out of our misery and just say he won't have time to finish it at all. Personally, if you read either the JAM manual OR the actual readings missing from the manual, I wouldn't worry. You're more than covered even if you may want to get greater depth in some readings.

I also agree that many would not spend their own money on a knowingly incomplete manual, if only on principle.

:shrug: What can you do?

Will Durant
04-26-2008, 06:31 PM
Wow. I'm glad I didn't spend my money on Goldfarb's manual.

agentgummy
04-30-2008, 11:03 PM
who bought the goldfarb manual and thinks that he should at least give us a partial refund? that's like highway robbery for giving us an incomplete manual. i take it that he's not going to give us detailed solutions on last sitting's APM exam either. he shouldn't have even offered a manual if he's going to do a half assed job. next sitting, people are going to pay the same price and probably get a more complete manual than what we have. this is absolutely unacceptable.

sundwarf
04-30-2008, 11:58 PM
who bought the goldfarb manual and thinks that he should at least give us a partial refund? that's like highway robbery for giving us an incomplete manual. i take it that he's not going to give us detailed solutions on last sitting's APM exam either. he shouldn't have even offered a manual if he's going to do a half assed job. next sitting, people are going to pay the same price and probably get a more complete manual than what we have. this is absolutely unacceptable.

I agreed with you 100%. What frustrated me even more is that we are not hearing anything from him. This is not the way to treat discontent customers. I seriously doubt, however, if we will ever get anything back. In the website it's stated clearly that "no refund" or whatsoever.

When think about this the other way, goldfarb's reputation will surely be ruined after this exam because he's not delivering what he promised (not exactly yet since we still have 9 days to go). You know what I am going to say when people ask about his manual in this forum in the future. I am so sure I will let others know what I feel.

sundwarf
05-09-2008, 07:45 PM
Now the exam is officially over and we haven't received the full version of the manual. I am wondering, Mr. Goldfarb, how are you going to compensate us?

Will Durant
05-09-2008, 08:13 PM
Well, I know whose products I will NEVER be purchasing.

hamstrman
05-09-2008, 08:14 PM
Now the exam is officially over and we haven't received the full version of the manual. I am wondering, Mr. Goldfarb, how are you going to compensate us?

That's if he even has enough time to read our posts here anymore!

Mr. BoH
05-10-2008, 09:39 PM
Man, that is seriously ****ed up. I went to Goldfarb's FET seminar last year and thought it was quite good, but I would certainly think twice before staking my exam success on his business again.

If you guys really want to get revenge, I'd post links to this thread over in the upper-level CAS exam sections - I think he mostly does manuals/seminars on the CAS side.

I would certainly hope he'd be giving refunds if nothing else.

waha
05-10-2008, 11:51 PM
I am very surprised by his lack of response as well, I went to his FET seminar and thought that it was very good and helped me pass. However, I didn't buy his manual for this APM seminar because he was not doing a seminar.

I can only speculate that he must have something really really big that he had to absolutely commit to. However, it really does not bode well for his potential customers though.

sundwarf
05-11-2008, 12:45 PM
Man, that is seriously ****ed up. I went to Goldfarb's FET seminar last year and thought it was quite good, but I would certainly think twice before staking my exam success on his business again.

If you guys really want to get revenge, I'd post links to this thread over in the upper-level CAS exam sections - I think he mostly does manuals/seminars on the CAS side.

I would certainly hope he'd be giving refunds if nothing else.

Yes i went to last year's FET seminar too. I mean, seriously, his manual much, much better fitted my study style, and its comprehensive explanation was the major reason why I passed FET (I was really struggling before i went to the seminar).

I just could not believe he failed to deliver a complete package this time. Is this the first time ever in the actuarial community that an incomplete manual was issued and never updated??

Speaking of revenge, I do think we should link this thread to other CAS forums. However, I don't think this is a revenge-- other "customers" should have the right to know what happened in the past.

FoxtrotFool
05-12-2008, 11:09 AM
The first time he put together the manual for 8V, it was also an incomplete manuel. The difference was that he explicitly stated that he wasn't going to be able to complete it.

In fact, none of his manual was ever fully inclusive of all the material. There are always several readings that he didn't cover.

rsgoldfarb
05-12-2008, 12:24 PM
Someone has just alerted me to this thread, which for a variety of reasons I have not been monitoring. I was not aware of the level of hostility expressed here previously, so I'll just quickly respond.

You are all correct that it is inexcusable for me to have planned to update the manual and then not be able to do so. The reality is that I have numerous other commitments that take priority from time to time and it was just impossible for me to dedicate the time I thought I would have to the APM manual (or my CAS manual for that matter). It's a shame, but that is just the way things happen sometimes.

Students who legitimately feel that this warrants a full or partial refund should feel free to send me an email and I will be more than happy to do so. However, you should be aware of just a few obvious points.

First, the price of the manual was only $150 precisely because it was incomplete. Given the quality of the content and the depth of explanation, the full version would be substanitally more expensive than this.

Second, while there are a handful of technical readings that didn't make it into the manual (Hardy Chapter 5, the Canadian MADR reading), for the most part the readings that were skipped were readings that I literally would have had not much to add to the original readings, including the IAS 39 readings, the chapter from Siegel's text, the Group of 30 reading, etc.

Third, let's be realistic and note that approximately 90% of the readings were covered and those are the ones that required the most attention from students.

It's a bit ironic that some students are so angry that some readings were missing, as this would seem to suggest that they also found the notes for the other readings very valuable. Is it really the case that the readings that were missing made such a huge impact on your ability to prepare for the exam?

I'll be interested to see the extent to which the exam questions focused on the readings that were missing, since that would of course be a shame if the readings I found to be less critical turned out to be a major focus of the exam.

But either way, I certainly am disappointed myself that circumstances did not allow me to finish the manual, as I am sure those who really used it would have agreed with those on these posts that it is very helpful even when some readings are missing.

As for those who expressed concern about the viability of my business, rest assured that you need not go through steps to "take revenge". Due to my professional commitments and the substantial changes announced for the 2008 FETE syllabus, as well as the suggestion posted elsewhere that the 2009 APMV syllabus would be substantially revised as well, I have no intentions of offering SOA study manuals in the foreseeable future. I may continue to make the exsisting manuals available for students who can survive with partial notes, but based on this string of posts I am inclined to conclude that it might be more problematic for students for me to do that and so I will likely pull the prior versions off of my website.

As I said, if you feel that you or your company legitimately deserve a refund because notes for some of the readings were never provided, then just send me an email that includes your request, along with the date you purchased the manual, your name and your address and I will gladly refund the money. I'll have to be fair and refund the same amounts to everyone who requests them, so please let me know what amounts will be considered "fair".

Please send all requests to my email though, as I will not be monitoring this site.

Richard Goldfarb