Are you among the happy 46 percent? What will you be doing to celebrate? Not as lucky? Feeling like you just threw away the last four to six months of your life? Want to get angry? Want to make someone pay? Let it out, here.
Earlier: Let’s Get Together And Have A Good Cry, Courtesy Of The CFA Institute
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
46%? Looks like I’m going to have to take the letters off my business card soon…
@1 this is for level 1…half of them won’t get past two.
-cfa
pwned
2 True that
passed bitches
46%?????????? Clearly the “CFA Institute” is concerned about a drop in participation – let a few more through so their firms feel obligated to pay – if they fail too many their firm tells them to hit the road as the budget doesnt no longer includes the $2k it costs for registering, getting books and taking a 3 day course in Newark…
passed, suck on my prestige
what is a cfa?
mba all the way.
The finance industry is a fraction of the size – for them to keep revenue coming in at the same level they need to pass more – bottom line – CFA Institute has a budget to maintain.
@6 you fucking dumb ass, the fact that 46 percent passed doesn’t really mean shit. 1/3 of the ppl who passed today will never actually become cfas.
You losers familiar with the concept of “Regulatory Capture?” You worthless paper examinations are worth exactly that.
Failed. Looks like it’s back to mopping up 85 Broad’s roof-top.
-Moises “J-Mopper” Gadenfeld
Why, dammit – Why cannot someone, for the love of God, openly debate the merits of the CFA versus the MBA in this Forum???? That would be a great read….
given the economy, think the higher % is partially result of a more determined candidacy base + laid off folk with nothing but time.
Cutting it to 3 answer choices could also be a factor but would have thought they would adjust question difficulty for that.
passed mfkers! mba this _|_
@14 don’t feed the trolls
@14 Makes a great point – a lively debate would be beneficial to all readers.
@14: It depends on the MBA program that you are talking about.
14-cfa is good for detailed financial statement analysis, some portfolio management, and detailed, often unnecessary minutia, re derivatives and various exotic financial instruments.
cfa gives you a good bang for your buck if you want to know a lot about a little for a relatively cheap price in a short period of time.
mba takes a wider approach and covers many of the same topics from more of an aerial view. mba is an actual degree that helps polish business leaders, rather than analysts who can crunch numbers and run ratios.
if you see yourself as a future business leader, go with the mba.
12 has failed the level 1 four times.
I am getting my Executive MBA at Jack Welch’s school. Suck on my future prestige BITCHES!
@naked- how are the chicks there?
passed, am taking the day off to get ripped and fuck mad bitches
failed. going to JO&C and then maybe kill myself, possibly.
Question: More useful for research job: MBA + CPA, or MBA + CFA?? MBA’s almost done and I’m looking for something else…
@20 needs the guy that explains jokes.
most graduate professors, including those as the ivy’s are useless blowhards who hide within the confines of academia since they can’t add value in the real world. I’d say only 10% have actually DONE something in their professional lives and now teach for self satisfaction, the fast majority are useless douches. that’s been my experience anyway. CFA + MBA and experience at a bulge bracket firm (not citi) will go far.
@23 little light on the actual chicks but there are a TON of smoking hot avatars.
yea, where is that joke explainer guy. did he pass?
let’s debate the merits of having a valid driver’s license vs the cfa vs an mba
“The CFA Program is a self-study, graduate-level program for investment professionals” – at 46% I guess the program is comparable to some state school in the backwoods of Alabama. Level 1 was a joke; with a 46% pass rate the CFA charter is no longer a symbol of excellence. Guess those 2 months of study for a waste.
@14
I hate you. You started up one of the most banal, unfunny, trivial, and troll infested debates on DB. Great going, just really really awesome.
My bracket is bulging, but I have been trying to moderate my caloric intake.
Passed >70% on all parts.
well you find the same kind of people in the lines of the DMV as you do in CFA and MBA programs
@32 = ops guy
@35 hmm, only level one results are out today…
You don’t garner any contacts getting your CFA. The whole point of getting the MBA is to schmooze other future business leaders (and don’t forget to sign you MBA pledge card!).
@33 – 14 here – Had I had the prescience to know things would turn “banal”, surely I would have shown more restraint in my sarcastic humor attempt. My apologies. But, you do realize you do not HAVE TO read each post -right?
@20 actually hilarious – how does an mba help “Polish” business leaders in a way that it may not help, say, Estonian or Hungarian leaders.
Passed. 46% pass rate prob also from the new testing centers outside the US. Also people take it a bit more seriously after seeing the 35% rate in December
A lesson to you 24 year olds. NO ONE cares about the CFA.
the cfa counts at hedge funds, not banks.
The CFA counts on your parents’ refrigerator!
@28
Please do not speak negatively about MBA programs while using phrases such as “the fast majority.”
Really? As in, the speedy, quick majority? Runners? Sprinters?
I believe “vast majority” is what you were searching for. Maybe my old MBA professors were academics, but at least they had a grasp on the English language.
@43 – sounds like someone was a band 4 fail. enjoy the back office kiddo…
lolz @ 45
(obvi failed CFA)
while it might not necessarily “count” for anything, please explain to be how having a cfa will hurt you in your career, haters.
@ 42…More testing centers equate to higher % pass rates? How does that make sense? Yes more people will pass but on a % basis it should not change
“Nah.. this is a much better way to service clients and the hours are much much conducive to my current lifestyle needs.”
Steve L – Shoe Salesman at Payless and CFA -2006
@48
Please never use the phrase “obvi” again.
Maybe the 46% was partly due to the fact that at least a third of test takers just didn’t show up test day. Is that higher than normal? Maybe people migrating out of finance to other industries and no longer want to hate their life for months on end?
38 – buy a clue, I think 35 was talking about >70% for each topic
fin. math greater than all
@38 – Obvi…
@ 53…no shows are not counted in the exam pass rates. I think its due to the 3 answer format. Nobody who scores 70% score
Posts 1 – 57 and beyond…”Does anybody really know what time it is? Does anybody really care?”
“Dow, 30,000 by 2008″ Why It’s Different This Time – Second Printing (Paperback)
by Robert Zuccaro, CFA
http://www.amazon.com/Dow-2008-Different-This-Time/dp/1893958701
CFA charterholder here… took the letters off my card a few years back… just had a guy pass with >70 on all sections… never had a guy do that before.. and I mean very smart guys…
I have decided that the institute is more about itself than analysis now, as evidenced by the dogmatic focus on ancient economic theory, its need to sell me something, its need to advertise in the newspaper for more suckers to boost its test taking numbers so it can fail more who are unqualified so it can keep its pretige…
A few year’s back the charterholder’s directory was quite useful..
I dunno, it just doesn’t seem as important as it used to.
There isn’t a good club out there that some bad members can’t kill.
Nobody who scores >70% has ever failed the exam, so with a 3 answer format and more unemployed people, I think more people were able to crack this 70% mark.
@52
sorry ’bout dat
@ 47- huh?
@ 60 is the first voice of reason
mba standouts > CFA
run of the mill mba candidate
@14 here — Egg-cellentttttt…Egg-celllennnttttttttttttt….. and he looked back on the debate spawned from the depths of Hell and said “It is Gooooooood!”
Rich people hire CFAs.
45 here – -@60 said the exact same thing I did, only he used more words.. unfair
@67 -you stopped short….”Rich people hire CFAs” …. to clean their pools…
there – that is better
it almost seems like having “CFA” on your card works against you. like if you NEEDED those letters in order to make up for holes in your resume
@70 – you made me laugh… you can also replace resume with “personality”
To everyone saying that the program is “going soft” or “getting easier,” why don’t you actually research what you’re talking about and take a look at the historic pass rates and realize pass rates have actually been coming DOWN over the years…
http://www.cfainstitute.org/cfaprog/pdf/candidate_results.pdf
CFA was sooooooooooooo bull market days
@69 FTW!
@40
33 again. Fair enough. I don’t have to read it. But just knowing this mind numbing debate is happening hurts.
@58
TOOL TIME!
@ 70 dumbest thing I have ever heard….so people who went to ivy league schools did so to make up for holes in their resumes, or those that got their mba’s had holes to make up as well?
@72 Does that give you a little hint about the “quality” of the candidates in recent years?
I have my CFA and MBA
-Johnny Wannabee, MBA, CFA
Whatever happened to William Richards?
Why do the CFA people use the same initials as the Confederates did during the Civil War?? Seems like that would be a little uncomfortable these days, you know?
~AIG Quant
@76 precisely his point – from my experience, percentage-wise, more kids from non top-tier schools spend their time getting their CFAs over those who went to those schools
Good job, guys~! Glad we resolved that finally.
@81….so if you don’t go to an ivy league school or get that great first job, you might as well say f!ck it and never try to better yourself?
Should I get a CFA?
W Buffett
As you read through these comments, it’s funny to see all the haters out there railing on MBA’s and CFA’s…why dont you take a shot at either and let us know how it turns out for you…stop being such a waste of space
As you read through these comments, it’s funny to see all the haters out there railing on MBA’s and CFA’s…why dont you take a shot at either and let us know how it turns out for you…stop being such a waste of space
@81 – nope i never said that. CFA is one of the best learning tools out there. It never hurts to learn more.
-76
I have my IMBD
Wow… so much hate for the CFA on this board. Reminds me of the fact that everyone loves to talk shit about Harvard all day long, but no one bothers to talk shit about Iowa State.
@89: Fuck Iowa State
The University of Iowa
Level 1 is easy… you’ll need an HB to TF level 2 and 3
Yeah, why the haters. There’s only downside to earning a CFA charter is the time suck. And, lets face it, the time sucked would probably have been spent doing stupid things. The program actually teaches you useful things and its not easy. Whine all you want but the simple fact is that that getting through it indicates a level of intelligence and committment that can give you a leg up when someone is staring at 300 resumes, only a few of which say CFA.
@91 very, very good.
Shmuckeyes suck
Clone to the bone.
@80 Confedarates used CSA not CFA…dumbass! (You obviously didn’t pass!
@93 I second that. Has a shot @ comment of the day.
@46, did I hurt your feelings? Sorry, I tend to type fast while trading. I’m glad you have the time to avoid typos while you are checking confirms and reconciling P&L douche
meh – i thought it was moderately useful (just passed >70% on all sections). They don’t teach this bean-counter accounting shit at ivy league schools so how else are you gonna learn it?
I was not impressed with my fellow test-takers – whoever made the DMV comment was spot on.
it’s clearly no substitute for an MBA (because an MBA is a two year binge drinking vacation and studying for the CFA is 3 months of licking a hobo’s balls).
91, take the rest of the day off.
“I was not impressed with my fellow test-takers”
how much interaction did you have with your fellow test-takers to come to that conclusion?
#69 FTW!!!!
I could give a fuck whether or not @98 was impressed with me
98
@91
Well done! On a related note (SFW):
http://en.wikipedia.org/wiki/Handbridge
What is HB to TF?
@105 ask Greg’s Mom
@104 HTF is that related?
@92 – correct. i studied at times when others fell deeper into their masturbatory doldrums.
@92 – correct. i studied at times when others fell deeper into their masturbatory doldrums.
@107
Nominally.
@107 HTF (how the fuck) is it related? because, as 91 rightly pointed out, you’re going to need a HB (hand bridge) to TF (titty fuck) the level 2 and 3 exams. no way you’ll be able to do it without assistance. some people dont know what a HB is, so 104 was explaining.
failed in the 9th band… darn it…
Multiple Choice Q# Topic Max Pts 70%
- Alternative Investments 8 – – *
- Corporate Finance 20 – * -
- Derivatives 12 * – -
- Economics 24 – – *
- Equity Investments 24 – – *
- Ethical & Professional Standards 36 – * -
- Financial Reporting & Analysis 48 – – *
- Fixed Income Investments 28 – * -
- Portfolio Management 12 – – *
- Quantitative Methods 28 * – -
failed in the 9th band… darn it…
Multiple Choice Q# Topic Max Pts 70%
- Alternative Investments 8 – – *
- Corporate Finance 20 – * -
- Derivatives 12 * – -
- Economics 24 – – *
- Equity Investments 24 – – *
- Ethical & Professional Standards 36 – * -
- Financial Reporting & Analysis 48 – – *
- Fixed Income Investments 28 – * -
- Portfolio Management 12 – – *
- Quantitative Methods 28 * – -
failed in the 9th band… darn it…
Multiple Choice Q# Topic Max Pts 70%
- Alternative Investments 8 – – *
- Corporate Finance 20 – * -
- Derivatives 12 * – -
- Economics 24 – – *
- Equity Investments 24 – – *
- Ethical & Professional Standards 36 – * -
- Financial Reporting & Analysis 48 – – *
- Fixed Income Investments 28 – * -
- Portfolio Management 12 – – *
- Quantitative Methods 28 * – -
dec pass rate was 35%, the 46% prob has something to do with 1. laid off finance guys looking to spruse up resume
2. people who failed in dec passing on their second chance
We need a new installment of “The Deadliest MBAs” followed up by a pilot of “The Deadliest CFAs”. That should put this argument to rest.
- Sig Hansen
Paul Tudor Jones -
“… He then applied to Harvard Business School, was accepted, and packed to go when the idea occurred to him that: ‘this is crazy, because for what I’m doing here, they’re not going to teach me anything. This skill set is not something that they teach in business school’”
Clearly all of you using “CFA” as a noun and not an adjective must have failed level I.
-C-my F-ing A
All my batch mates that didnt land a job while doing their MBA went on to do their CFA.
how much does the curriculum overlap?
a ton i would assume?
@118 Cheers!
46% pass rate clearly from the cut to 3 multiple choice options and the ridiculous amount of out of work ibankers looking to boost the rezzy to get back in the game. All the same Level 1 was tough, I’d be hard pressed to see how it doesn’t add value.
i had to fail so someone else could pass – that’s what my boss said this afternoon as i was cleaning out my desk
As an aside, one is not allowed to take the CFA exams while attending or having previously attended Harvard as the two have different ideals; Harvard teaches fraud and deceit whereas the CFA program has a strong focus on Ethics.
Any new ideas for PonziNation?
As someone who wrote the exam in december and failed in band 10, the June exam was way easier even if you had only 3 choices. There is usually atleast one answer you can disregard instantly. I knew after sitting the exam in June that the pass rate would be higher.
I don’t mean to be ungrateful after i passed but im a bit pissed off that they made it that easy after i went back and busted my ass to pass.(everyone seem to get over 70% in every area)
Now I’ll probably have to deal with a harder than usual level 2 exam like it aint hard already.
If I didn’t go to Wharton I may actually care about this topic!
the standard of June Level 1 surprised me big time.I expected much more from cfa examinations. ex-stewardess salesgirl at the front finally passed at fifth attempt. I was too embarrassed to tell anyone I was one of the 46%. I hope Level 2 doesn’t disappoint me.
@127 why would you be embarrassed to tell people you passed?
Really u feel like a shit after studying for 250 hours. But i never give up so December wit for me.
Really u feel like a shit after studying for 250 hours. But i never give up so December wit for me.
@126, you must be awesome to hang out with. “I’ll have an imported beer, cuz I went to Wharton.” or “I’ll have steak AND lobster, cuz I went to Wharton.” Give it a rest you arrogant schmuck.
Yes, I passed Level 1, I would have been happier to be between 35% than 46%, but still very happy.
The biggest help for the extra 11% here was for sure the 3 answer deal. Anyway, I did not get much use of that. But it reduces some other candidates’ time to get the answer and eventually lets them finish on time.
Those that try to diminish the CFA institute’s authority and the dedication of the candidates are just a bunch of losers that don’t deserve to be in the program or even know about it.
F the haters!
chalk it up!
I failed. My score in ethics and alternate was low and everything else was good. I am seriously debating whether to drop out of the program altogether or give it another go. I never had any aptitude for cramming- but I have no excuses. I did not study enough and here I am. Any advice?
I am a quantitative analyst at a hedge fund.
And congrats to those who passed- you guys rock and good luck to yall for levels 2 and 3.
Nik
im giving level 1 another try in december after failing in june, mostly because of not studying nearly enough..
looking for study partner(s). any takers? ~early 20s female working and living in midtown
http://www.barwriteblog.com/2009/05/b.html
first time takers of ny bar passed at 73% rate… while 46% isnt that great, its still easier being a lawyer
What’s a bulge bracket?
-JD
@134 Bernie may be hiring in 150 years give/take I’d consider tossing in a resume!
Level 1 this year had 3 multiple choice answers as opposed to 4… that inherently leads to a 50% higher pass rate.
@135,
I’m interested, using Schweser – I finished Study Session 7 yesterday and am starting on Study Session 8 next week.
If you are interested, e-mail:
nreekiokia@garrifulio.mailexpire.com
@60:
“…institute is more about itself than analysis now, as evidenced by the dogmatic focus on ancient economic theory, its need to sell me something, its need to advertise in the newspaper for more suckers to boost its test taking numbers…”
the mba programs are way ahead in all these areas.
cfa: stop being such also-rans. come up with your own fraud scheme.
65, I agree with that…
some thoughts-
those bashing the CFA probably don’t have one
those bashing HBS, Wharton etc. probably didn’t go there
on Wall Street, the CFA is the premier professional qualification and a Wharton/HBS MBA is the premier educational qualification(ex. PhDs)
So there you have it…all kinds of dooshbagels can choose either one. Just be prepared to defend your decision to the death on message boards for the rest of your life.
I did neither, but i’m also doing blow off a hookers ass while trying to type with correct grammer.
@144 The “grammer” is fine, but the spelling is sheizen.
I failed in band 10, ouch!
Multiple Choice Q#TopicMax Pts70%
-Alternative Investments8* – -
-Corporate Finance20- – *
-Derivatives12* – -
-Economics24- – *
-Equity Investments24- – *
-Ethical & Professional Standards36- * -
-Financial Reporting & Analysis48- * -
-Fixed Income Investments28- – *
-Portfolio Management12- * -
-Quantitative Methods28- * -
Anyone out there in misery about the forthcoming Level II results?
failed in band 9, will take a break now and be back in June next year, have to recharge my social life now.
Q# Topic Max Pts 70%
- Alternative Investments 8 * - -
- Corporate Finance 20 - * -
- Derivatives 12 - - *
- Economics 24 - - *
- Equity Investments 24 - - *
- Ethical & Professional Standards 36 - * -
- Financial Reporting & Analysis 48 - - *
- Fixed Income Investments 28 - - *
- Portfolio Management 12 - * -
- Quantitative Methods 28 - * -
Wow, so many people on this forum are too good for the CFA. I studied hard and passed my level 1 CFA. I’m going to keep learning and stacking certifications and getting education until I can get an in on the the industry.
Some of you could look at me and say “look at this pathetic loser working construction. Obviously he’s dumber than I am, and the CFA has obviously lowered its standards since he’s definitely too dumb to have passed it back when I did it…”
I’m a hard worker, I studied a lot, and I want a good job too. What’s wrong with that? if not via the CFA, what other tests are there for me to prove my worth? Why are you all who already have jobs in the industry better and more deserving of opportunity than me?
Hey 148, you f#cked up on your grammar. Basic stuff like that is why you’re not so bright and shouldn’t join our club. Now get back to laying that brick, or whatever it is you do.
Level 2, anyone?