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Home : Patterns : Smart Investment Knit

Free Knitting Pattern: Smart Investment Knit

Lion Brand® Al-Pa-Ka
Pattern #: 1183

Skill Level: Intermediate Add flair to any outfit with this exquisite elongated vest. Sizes P (38 1/4"), S (40 1/2"), M (42 3/4"), L (45"), XL (47 1/4") and 2X (49 1/2") require 11, 12, 14, 16, 18, 20 skeins Al•Pa•Ka yarn. Shown in camel. Size H-8 (5 mm) hook.

Rating: ****3.7 (based on 3 reviews)
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SKILL LEVEL:  Intermediate (Level 3)

SIZE: Small, Medium, Large, 1X, 2X

Finished chest measurement 42 (46, 50, 54, 58) inches at underarm Length 25 (25 1/2, 26, 26 1/2, 27) inches

Note: Pattern is written for smallest size with changes for larger sizes in parentheses. When only one number is given, it applies to all sizes. To follow pattern more easily, circle all numbers pertaining to your size before beginning.

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Color (A)

Click here to enlarge image and see more about item 740-124: Al*Pa*Ka Yarn: Camel (discontinued)
Click here for larger swatch
Discontinued - click here for possible substitutions
Sorry, product is discontinued; no colors are available.
*Al-Pa-Ka (Article #740). 30% wool, 30% alpaca, and 40% acrylic; package size: 1.75oz/50.00 gr. (107yds/98m) pull skeins

You can also buy materials separately
To change colors, click the drop-down list or swatches above
•  740-124 Al*Pa*Ka Yarn: Camel (discontinued)
$ 17.91 (9, 10, 11, 13) 
Discontinued, sorry!
Click for yarn substitutions
Lion Brand Cable Needles (Set of 2)   $ 2.49  
Lion Brand Knitting Needles- Size 6 [4.00 mm]   $ 3.60  

Smart Investment Knit

Lion Brand® Al-Pa-Ka


24 sts + 25 rows = 4" (10 cm) in cable pattern.

When you match the gauge in a pattern, your project will be the size specified in the pattern and the materials specified in the pattern will be sufficient. The needle or hook size called for in the pattern is based on what the designer used, but it is not unusual for gauge to vary from person to person. If it takes you fewer stitches and rows to make your swatch, try using a smaller size hook or needles; if more stitches and rows, try a larger size hook or needles.

Making a Gauge Swatch


C2B Slip 2 sts to cn, hold to back, k2, k2 from cn.
Rib Pattern
Row 1 (WS) *K2, p1; rep from *, end k2.
Row 2 *P2, k1; rep from *, end p2.
Repeat Rows 1–2 for pattern.
Cable Pattern
Row 1 and all WS rows *K2, p4; rep from *, end k2.
Rows 2 & 6 *P2, C2B, p2, k4; rep from *, end p2, C2B, p2.
Rows 4, 8, 10, 14, 18, 20 *P2, k4; rep from *, end p2.
Rows 12 & 16 *P2, k4, p2, C2B; rep from *, end p2, k4, p2.
Repeat Rows 1–20 for pattern.

With smaller needles cast on 128 (140, 152, 164, 176) sts. Work 10 rows in Rib Pattern, end RS row. Change to larger needles. Work in Cable Pattern until piece measures 14 1/2 (15, 15, 15 1/2, 15 1/2)" from beg or to desired length to underarm, end with a WS row.

Shape armholes Bind off 8 (8, 8, 8, 14) sts at beg of next 2 rows, 3 sts at beg of next 2 rows, 2 sts at beg of next 6 rows – 94 (106, 118, 130, 130) sts. Work even in pattern until piece measures 24 (241/2, 25, 251/2, 26)".

Shape back neck Work across 25 (31, 31, 37, 37) sts. Place center 44 (44, 56, 56, 56) sts on holder. With second ball of  yarn, work across rem 25 (31, 31, 37, 37) sts. Working both sides at same time, bind off from each neck edge 2 sts once, then 1 st once – 22 (28, 28, 34, 34) sts. Work even until armhole measures 101/2 (101/2, 11, 11, 111/2)". Bind off.

Work Rib Pattern as for back. Change to larger needles  and beg Cable Pattern, starting with Row 11. Work even until piece measures same as back to underarm, end with a WS row. Mark center 2 sts.

Shape armholes and V-neck Shape armholes at side edges as for back, AT SAME TIME, place center 2 sts on hold for neck and, working both sides at same time with separate balls of yarn, dec 1 st at each neck edge every other row 19 (19, 29, 29, 27) times, then every 4th row 5 (5, 1, 1, 3) times – 22 (28, 28, 34, 34) sts. Work even until armhole measures same as for back. Bind off.

Block pieces.

Sew shoulder and side seams.

Neckband With RS facing and smaller circular needle, beg at left shoulder and pick up 57 (57, 60, 60, 63) sts along left front neck, purl 1 st from holder, place marker, purl 1 st from marker, pick up 57 (57, 60, 60, 63) sts along right front neck, pick up 7 sts along right back neck edge, work across 44 (44, 56, 56,  56) sts on holder, pick up 7 sts along left back neck edge – 174 (174, 192, 192, 198) sts  Join and work neck band as follows:
*p2, k1; rep from * to 2 sts before marker, p2tog tbl, slip marker, p2tog, **p2, k1; rep from ** to end of rnd. Repeat this rnd, working decreases at front V on every rnd until neckband measures 1".  Bind off in pattern, working dec’s at front V.

Armbands With RS facing and smaller circular needle, pick up 132 (132, 138, 138, 144) sts around armhole. Join and work in K1, p2 rib for 1" bind off in pattern.

Click here to download this pattern for free!

Click for explanation and illustration
beg = begin(s)(ning) cn = cable needle
dec = decreas(e)(s)(ing) k = knit
p = purl rem = remain(s)(ing)
rep = repeat(s)(ing) RS = right side
st(s) = stitch(es) tbl = through the back loop
tog = together WS = wrong side

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Ratings and Reviews
Pattern Average Rating: ****3.7 (based on 3 reviews)
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Smart Investment Knit Reviewed by Oksana on 2012-10-13 *****
I made it for a gift and everybody liked it.

When you are in New York City, visit the Lion Brand Yarn Studio at 34 W. 15th Street for a one-of-a-kind yarn lover's experience. For more information, visit the website,
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