From a candidate:
How about a shout-out for those of us who are sleep deprived and freaking out about tomorrow? something to cheer us up and forget that we paid over $1k for this test that (according to all estimates) most of us will probably fail. Something special, because we need it. Give us hope, something to look forward to, that’s all we really want. I know it’s only level 1, which screams ‘n00b’. I mean, if it was any more of a joke it’d be the Series 7, right? But even ‘n00bz’ need encouragement.
You’re all going to do great! And if you don’t, it’s not like this shit matters. 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:
I am the CEO of a hedge fund. Should I take the CFA?
@1, if your AUM is under 11 figures your not in a HF pussy
-JP Baby
I am a Columbia MBA ’05 and I am raffing out roud!
Dis time I’m gonna pass part 2!
-cg
You guys are such fucking losers. Seriously? I was pre-med, and even I recognize feline leukemia symptoms.
-LEH Quant
CFP > MBA > CFA
It’s science.
If you fail, I hear Ping Jiang needs a new friend with benefits!
@2 = Mutual Fund analyst, state school grad
what is this, goddamn going concern? quit your bitching or join the ranks of those other dress-wearing, estrogen-taking, piss-guzzling, up-the-poop-chute-with-king-stevie-action-figure-taking pussies
MBA =
- $120K tuition gone,
- 2 years of no salary (600K?) gone,
- 2 setback in career (if you are lucky, you’ll the same job you did before). Maybe
- Learn nothing new (or that CFA can’t teach you)
If I’m gonna take a 2 year, 720K vacation, it better be better than getting an MBA…
I just hired a recent MBA grad as my junior analyst. If I left finance for school, in 2 years he’d be making the decision to hire me as his junior analyst.
@ 10 = missing the point.
Good luck to everyone taking level 1 and for those who don’t pull it off you should perhaps examine your motives. I’ve heard that they raised the pass rate for level 1 so that the institute can collect a few more checks and so things are in your favour.
-taking level II in June
You are all whiteboard marker swallowing idiots.
UVA grad
Good luck Shia!
@9= funniest thing I’ve heard all day!!
@6 = PCS/PWM junior cold-calling associate, Milwaukee office.
@10:
But if you want to hear boring, irrelevant nonsense about marketing strategies, or supply chain management, an MBA is the person to talk to. They make CPAs sound interesting, in comparison…
CFA Candidate,
Given that it’s Deal Breaker’s SAC Capital day, I present the following scenario for your consideration.
Andrew Tong files a civil lawsuit against Ping Jiang. The lawsuit alleges that Mr. Jiang forced Mr. Tong to engage in conduct that remains illegal in most US states. Further, Mr. Tong alleges that Mr. Jiang used Mr. Tong as a urinal. Credible evidence is presented and yet the jury fails to convict Mr. Jiang.
Which of the following are true,
1. a Type I error has been committed.
2. a Type II error has been committed.
3. neither a Type I or Type II error has been committed.
4. Mr. Jiang and Mr. Tong are now living together in Massachusetts where Mr. Jiang works as a transvestite dominatrix and Mr. Tong sells urinal deodorizer blocks shaped in the image of Steve Cohen.
@6 CFP = Certified Fellatio Provider = ?
A. Andrew Tong
B. Ashley Dupree
C. Danielle Chiesi
D. None of the above
E. All of the above
20th of 100+ comments.
@Pfluger
Unfortunately the schools that offer a non-quant (like Columbia or NYU’s masters in mathematical finance/financial engineering) are few and far between, so alas, its either MBA, CFA, or some “meh” masters in finance.
@3 douche
Don’t worry. 90% of level 1′s are kids in fraternity shirts just trying to prove to their parents they’re doing something. Level II is somewhat of the weedout.
Level I is to level II as a soft summer breeze is to the first 15 minutes of Saving Private Ryan.
I wish you all the best of luck. And if you think passing will improve your chances at getting a job–try 2012.
MS>CFA>MBA>>>>>CPA.
I can’t stand accountants. They are the most god-awful boring human beings on the planet.
Every one of them, especially the ones who somehow get into finance. I think most of them drank the bosses urine.
I live with a fucking accountant and I can’t wait to not be in this situation anymore. She’s so fucking boring I wonder what I initially saw in her.
@26 its an accrual world isnt it?
I was honestly embarrassed to hear that the CFA Institute has reduced the multiple choice options from four down to THREE!! The quintessence of bush league.
The guy who took the CFA designation off his business card has the right idea. When the short bus starts pulling up to the test center and CFA charterholders start including Down Syndrome All-Stars we have a serious credibility issue with the fucking charter.
@23 – See you on the beach
@28,
Trig is short for trigonometry.
-Sarah in Wasilla
CFA = function of time
MBA = function of money
both useless
@31 +1
L1 = You are in bed with Nicole Ritchie.
L2 = You are in bed with Michael Jackson and are 6 years old.
LI = Brook Burke
L2 = Rosanne
L1 = touching myself
L2 = touching a cub while the mommy bear is circling you
L1 = Fresh, warm spring morning
L2 = First 15 minutes of Saving Private Ryan
L1 = Miley Cyrus
L2 = Courtney Love
L1 = is a tiny, gentle hiccup at a swanky cocktail party followed by a smile and a polite “excuse me”.
L2 = is kneeling on all fours in front of a dirty toilet in a highway truck stop voilently throwing up blood and bile while you scream for God to simply take your life and end the suffering. Meanwhile there is a fat trucker standing behing you with an evil grin as he begins to unbuckle his belt with one hand while he locks the door with the other.
L1 – BJ from emanuelle chriqui
L2 – HJ from a homeless guy
L3 – Giving a BJ to a homeless guy while getting kicked in the nuts by emanuelle chriqui
@32:
= 32. Right, right??!
-hopeful CFA candidate
Free exam, learning materials and $1K bonus for passing here.
@27/naked
Aye. That it be
-26
@33 That was good.
~Fellow LII sufferer
CFA Candidates,
Breathe deeply Grasshoppers.
Tomorrow while you toil at the test centers those of us that hold the Charter will convene in a field near Darien, Connecticut where Nouriel Roubini claims to have seen the invisible hand of the market.
-Inside the Buyside, CFA
@33: Pass. You are cleared to proceed to Level III.
- Spokesperson, CFA board of directors
“Actually at 40 I had less money than when I was 30″
-Michael Scott
thanks 39, i already passed all the tests, when does the salary increase you promised me kick in?
@33- 23 here- glad we frequent the same dives :) See you on the III boards in a few weeks (lurker, not a poster….those guys need to chill).
@ 33, sorry but that is an exaggeration. Level 2 was tougher than Level 1 but it is not THAT bad.
Does it stink that you have to study during weekends? Yes. Likening it to the first 15 minutes of Saving Private Ryan makes you sound like a jackass. Get over yourself.
-A young lady who will be studying for Level 3 but takes it with a grain of salt
@42
Exaggerations in relativity tend to elicit humorous and proud reflections of pasts accomplishments while reminding newcomers that passing L1 is but a stepping stone in a long and fruitful learning process.
Am I actually comparing Level II to a horrific depiction of a major world war that killed millions? No
Are you a loser without a sense of humor that probably hasn’t gotten laid in 2 years? Yes
-33,40,PantsedMyShorts
Oh snap, looks like lil’ missy @42 just got schooled!
The CFA exam is the same day as the SEC championship?? you poor bastards Go Gators!
I think I just sharted.
The CFA is the gold standard credenial but a bit passe… CAIA is the designation of the future.
The CFA is the gold standard credenial but a bit passe… CAIA is the designation of the future.
The CFA is the gold standard credenial but a bit passe… CAIA is the designation of the future.
I believe CFA level 1 & 2 are already easy enough. i mean easier than before. CFA Institute uses level 3 to keep the value of it.
If it makes you all feel any better, it really doesnt get easier than LI and while you might think LII is the hardest, you would be wrong. Good luck after this you only have two more exams, one harder than the next.