Nov 11, 2009, 10:34am
Nov 10, 2009, 8:45am
The level 1 CFA is being given tomorrow and we know everyone taking it is going to do great! And if you don't, it's not like this shit matters, especially for those of you who've been laid off since signing up for the thing six months ago. Plus, we'll be throwing a special pity party for the failures, so there's that to look forward to. And because I know some of you are sensitive:
Sep 15, 2009, 2:22pm
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Sep 15, 2009, 2:00pm
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Sep 09, 2009, 11:27am
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Sep 09, 2009, 10:15am
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Posted by guest , Dec 05, 2008 4:24PM
CFA will not make up for not having a MBA jackasses
Posted by Falcon , Dec 05, 2008 4:25PM
@1. Depends on the firm, and depends on the MBA
Posted by guest , Dec 05, 2008 4:26PM
actually, JACKASS, most investment employers these days look at a CFA as more appealing than just a plain vanilla MBA. more relevant. less brainwashed with feel good consulting type bullshit.
Posted by guest , Dec 05, 2008 4:27PM
Wasting your time getting a CFA now is like being certified in buggy whip manufacturing
Posted by guest , Dec 05, 2008 4:27PM
@2 crap firm, crap MBA -- maybe. prob not tho.
Posted by guest , Dec 05, 2008 4:28PM
ugh. this debate again.
Posted by guest , Dec 05, 2008 4:28PM
Not to mention more difficult to get than said MBA.
"Oh crap, I actually have to pass a test" - Pampered Ivy League DB.
Posted by guest , Dec 05, 2008 4:28PM
ugh. this debate again.
Posted by Falcon , Dec 05, 2008 4:29PM
@1. Depends on the firm, and depends on the MBA
Posted by guest , Dec 05, 2008 4:30PM
Why not just lie and say you have a CFA..no ones gonna know.
Posted by guest , Dec 05, 2008 4:31PM
7, try applying for business school now and let me know how easy that is
Posted by guest , Dec 05, 2008 4:32PM
The UK Financial Services Authority(FSA) continues to refuse to prosecute cses of unauthirized traders working fot FSA auth hedge funds. Total joke. Telluurian Capital iss v good example of potentialscam. Hey, but they're really French so no surprise.
Posted by guest , Dec 05, 2008 4:33PM
yeah "financial analysis" and "investment management" skills provided by a CFT really prove useful when every frickin actively managed fund is down more than indices & index funds
Posted by guest , Dec 05, 2008 4:34PM
yeah "financial analysis" and "investment management" skills provided by a CFA really prove useful when every frickin actively managed fund is down more than indices & index funds
Posted by guest , Dec 05, 2008 4:35PM
I started an MBA program at a state school - it's fucking stupid and made for retards with no common sense.
And I'm not CFA. Our analysts are wrong 90% of the time.
I'm up 15% this year.
They're all fucking idiots.
And you should all be jealous BITCHES
Posted by guest , Dec 05, 2008 4:37PM
You know why God made CFA's? To make Weather forecasters look good (heh-heh)
Posted by guest , Dec 05, 2008 4:38PM
CFA ='s Certified Fierce Animal
MBA ='s Moronic Brainwashed Assclown
Enjoy your weekend!
Karl K-Shax
Posted by guest , Dec 05, 2008 4:38PM
@15 -
Do they make you learn English at this school?
Posted by guest , Dec 05, 2008 4:39PM
The UK Financial Services Authority(FSA) continues to refuse to prosecute cses of unauthirized traders working fot FSA auth hedge funds. Total joke. Telluurian Capital iss v good example of potential scam. Hey, but they're really French so no surprise.
Posted by guest , Dec 05, 2008 4:42PM
another extensive measure of how utterly useless one can become. best of luck. you still won't be able to DO anything.
Posted by Anal_yst , Dec 05, 2008 4:46PM
I've dealt with MBA's from top 10/20 (yes I know there's a big difference) schools who didn't know their ass from their elbow; I've also talked to those who've passed various levels of the CFA for which the same description applies.
One thing seems to be consistent whether its mba or cfa: prior (or subsequent) work experience, and an individual's unique understanding/knowledge/raw intelligence make the difference.
Posted by guest , Dec 05, 2008 4:47PM
I earned my CFA designation years ago.
Try it yourself to see how smart/dedicated you are.
...Oh, I see.
Posted by guest , Dec 05, 2008 4:47PM
CFA's are about as rewarding and useful as keeping your glock in your sweatpants at a manhattan nightclub....
Posted by guest , Dec 05, 2008 4:48PM
I earned my CFA designation years ago.
Try it yourself to see how smart/dedicated you are.
...Oh, I see.
Posted by guest , Dec 05, 2008 4:48PM
CFA? What's a CFA? What industry is this for? Does the CFA teach you to sell stocks in 10/07 and buy when they are bottoming out...? Does the CFA teach you about mark to market accounting and how to value Level 2, Level 3 assets? Does the ethics, statistics, or fundamental analysis prepare you to accurately forecast the tech bubble or credit crises?? Waste of time, money. Bad joke for people with too much time on their hands.
Posted by guest , Dec 05, 2008 4:49PM
I earned my CFA designation years ago.
Try it yourself to see how smart/dedicated you are.
...Oh, I see.
Posted by guest , Dec 05, 2008 4:51PM
@ 25: Shhhh
tnx
Posted by guest , Dec 05, 2008 4:51PM
We see three clicks, genius
Posted by guest , Dec 05, 2008 4:54PM
I hold an AS from a tiny, little liberal arts 'school'; MEANS NOTHING.
I left a FI desk on the street last year. Made the jump to PE to trade securities and whole loans; now managing a $1.5 billion portfolio for a +8 billion PE firm in CT. My book is looking at closing out 2008 +28%. Just finalized the budget for next year - $750 million to buy more... TAFR
(and stop sending me your f'n ivy league resumes; I don't give a shit where you popped your cherry and learned how to use a beer bong)
Posted by guest , Dec 05, 2008 4:55PM
i had to cancel my test when i found out i have cancer. sucks.
Posted by guest , Dec 05, 2008 5:00PM
@29 You're a douchebag who still can't get over having to go to some BS 'little liberal arts school.' Why didn't your parents help you with a real school like they helped you get in the door at a BB? Did you follow your gf there or something?
Posted by guest , Dec 05, 2008 5:00PM
@29 You're a douchebag who still can't get over having to go to some BS 'little liberal arts school.' Why didn't your parents help you with a real school like they helped you get in the door at a BB? Did you follow your gf there or something?
Posted by guest , Dec 05, 2008 5:04PM
@31/32 you are just the type of person whose layoff i celebrate. bitchy, brainless monkey. @29 probably had to get used to the idea of working for/earning his/her opportunity. i'd rather have him or her around than you.
Posted by Anal_yst , Dec 05, 2008 5:05PM
I see the voice of reason has no place here, not that I'm particularly surprised, sigh...
Posted by guest , Dec 05, 2008 5:07PM
Can someone post a link to the thread with photos of the Wideclops/ the posting about her?
Posted by guest , Dec 05, 2008 5:10PM
"Made the jump to PE to trade securities and whole loans; now managing a $1.5 billion portfolio for a +8 billion PE firm in CT. My book is looking at closing out 2008 +28%. Just finalized the budget for next year - $750 million to buy more... TAFR"
So you were shorting your firm's deals?
Posted by guest , Dec 05, 2008 5:11PM
@33 31/32 here...funny how I'm still employed...but thanks for your input
Posted by guest , Dec 05, 2008 5:15PM
too pedantic/didn't read...
Posted by guest , Dec 05, 2008 5:24PM
had to google "pendantic"
Should have gone to b-school, i suppose.
the irony of your word choice is laughable.
Posted by guest , Dec 05, 2008 5:57PM
CMT baby, that's where it's at. Up 400% YTD biotches.
-Technician
Posted by guest , Dec 05, 2008 5:59PM
That will be one big party.
Posted by guest , Dec 05, 2008 6:01PM
@15
Either your comment is troll bait, which I'm biting on, or you really are clueless.
Being up 15% in your Americrap Roth IRA is easy. You don't have a charter so you can buy whatever you want, you don't have quarterly performance expectations to meet, you don't have massive contribution/redemption swings to deal with, you don't have to worry about moving billions around and becoming the market on any given trade, you don't have idiot junior traders debating Erin vs Moneyhoney while taking all day to fuck up your order and you don't have mouth-breating back-office Special Olympics winners second guessing your recent activity by the watercooler...post-shadow order entry in their own Americrap IRA's, of course.
So all $15 of your gains, made from a limit order while your boyfriend was giving you the rub-n-tug during Greys Anatomy, doesn't make you "Buffet-lite".
Just sayin...
Posted by guest , Dec 05, 2008 6:41PM
@42
Awesome, love it. He did mention he earned that at a $1.5 billion PE firm (although it doesn't sound like PE type work). But I still love it.
Posted by guest , Dec 05, 2008 6:57PM
@42...wow some pent up aggression there or what? Put the gun down, life aint that bad! I am so confused as to why people feel the need to come up with ever more complicated ways of tearing people down, especially based on what area they work in. Are you serious? Is your vapid, trivial life that bad that it has driven you well past normal expressions of insecurity to this point? Is your "front office" status mean that much to you? I wonder if thats all you have. FYI I work in a "back office", and have been having the time of my life the past couple years, yet often hide it to fit in with the miserable people in the front who seem to hate life more and more every day. Ok, done time to booze...
Posted by guest , Dec 05, 2008 7:50PM
@34, it's so much more fun to agree retarded things like MBA vs CFA. There's morons who get either/both degrees and anecdotal evidence is infinitely more entertaining than arguing that it's person specific, not credential specific.
Posted by guest , Dec 06, 2008 9:12AM
The hardest thing about a good (ie, ivy league) MBA is getting in.
Once you are in, it is difficult to not pass even if you are a complete retard and do a minimal amount of work.
Look at the pass rates in the high 90's.
Reason:
They feel bad tossing you out with all those student loans and worry about getting sued / program getting a bad reputation.
For the CFA, they have no problem failing you if you are not up to scratch!
Posted by guest , Dec 06, 2008 10:41AM
Talent trumps both, and neither make up for a lack of it. Anyone north of normal intelligence can have more letters after their name than are actually in it.
Posted by guest , Dec 06, 2008 6:37PM
that was (not) fun...
any word on 1st year invigilator #'s?
Posted by guest , Dec 06, 2008 7:39PM
Just took the test, and I have no clue if I passed or failed. I know I got some shit right (mostly ethics and quantitative questions) and I know I got some wrong (qualitative trickery), but hopefully more right than wrong. You have to understand that being a strunze like me coming from a nothing school and never studying a day in my life to studying 8 months straight and giving a competent performance on this exam I was just happy to be there. I think I was the only Italian guy there too which has to count for something, maybe a couple extra points.
Ciao Brutti
Posted by guest , Dec 06, 2008 9:37PM
Thank god I am sone and do not have to write those exams again. Most painful expereince of my life; frankly woudl have been easier to blow a horse for equivilent credit
Calgreedy
Posted by guest , Dec 06, 2008 11:40PM
You have just taken the CFA Level exam I. Your state the next morning is /closest/ to:
A. Relieved but not hungover
B. Hungover but not relieved
C. Relieved but hungover
D. Still drunk
Posted by merkin capital partners , Dec 07, 2008 6:00PM
my buddy's a third mkt institutional sales "trader" and he makes all the rest of us look retarded...
all his cronies make high 6/ 7figs, work 35 hrs a week and have no idea wtf is going on with the market...and even with hedgie demise they are catching biz from all the dead bulges...
meanwhile i keep my head down in hopes my MD thinks i already got fired.
Posted by guest , Dec 07, 2008 8:17PM
Hi guys
CFA test is on Sunday in Australia, so I'm drunk at work!
And i'm not throwing my notes out, because i'll be doing that exam again in 6 months!
Posted by guest , Dec 08, 2008 9:15AM
@31/32, 29 here...
My parents did not have the means to send me to any college; following high school I went directly into active duty for four years in the US Army. The GI Bill was all the money I could earn for myself - Mom and Dad were strictly blue collar, never had enough money to invest for themselves let alone garner connections on Wall Street. Does this answer your questions?
@36 - never shorted our own positions; its called due diligence, pricing and risk management - in that order.
Carry on.
Posted by guest , Dec 08, 2008 9:19AM
I've got an MBA from top 20 school & I'm also a CFA L2. The MBA is much more useful. CFA looks at stuff in a financial lab environment, whereas w/ MBA you get solid biz analysis.
MBA looks at last 2 yrs & says...business cycle, bubble imploding, etc. CFA looks at it & says 'I've tested to 3 standard deviations, no problem here!'
Posted by guest , Dec 08, 2008 10:38AM
@25 - Does an MBA teach you all of that? I doubt it.
Posted by guest , Dec 09, 2008 7:05PM
For those of you dogging the CFA, if it's such a waste of time, why waste your precious minutes commenting when you could be putting together the next be deal? If it is so irrelevant, what brought you to click on a good luck message to candidates. I suspect deep down you wish you had the skill and discipline to earn the designation. The fact is, the CFA represents a breadth of knowledge that is hard to attain w/out commitment, like the CPA. BUT, there is something to be said for real world experience--being a big player in big transactions and all that. . .Still, the prevalance of executives, traders, etc that can't read a balance sheet and know nothing of risk management is the reason we're in the mess we're in.