Are you among the 42 and 39 percent, respectively, relieved? What will you be doing to celebrate? Running out and buying the next level of books during lunch? 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? Wanna see the institutes denial of your quest to put their precious three letters next to your name with three letters of your own?
Let it out, here. Level III’s, still waiting, I don’t want you to be left out, so you should feel free to tell us what you’re thinking, too.
throw down a celey @ beamers?
I am going to add “GFY” to the end of my name.
Only Level I & II results out today. Real results (by which I mean level III) don’t come out till mid-August. But thanks for reminding me to be nervous for 3 more weeks Bess.
Here’s how one Russian woman celebrated the results:
http://animalnewyork.com/2010/07/voinas-latest-action-is-fowl/
@3 I know and you’re welcome.
I see a resume cross my desk with “CFA” and I typically surmise the initials are an attempt to mask great inadequacies.
Columbia MBA.
If MBAs and CFAs are so great, how did the super smart people possessing them put us into the Great Recession?
~PhD
@7 – keep working on those quant models that never work
Passed Lev II. Say whatever you want, today is a good day for me.
University of Phoenix PhD
@7, they didn’t. The only business experience of the congressman that put us into this recession was running a male brothel out of his DuPont Circle apartment.
When are STAR results out?
@4 that was the most inappropriate link ever and most definetly needs NSFW tags. Our newly minted level 2 candidates should not jeopardize their employ with your link, they should be icing eachother at work today
Shoot a Duck?
“Let it out, here.” Oh Bess, what would I do without you.
P.S. the level 2 pass rate is the lowest on record. My quant model says, lever up DIAGEO PLC stock as a result.
@4/BL Well just for that, no whiteboard markers or trips to Beamers for you for a month.
Whats a CFA?
Lloyd
stop hiding in the world of test scores and academia
-undergrad b-school graduate
@7 – MBAs and CFAs are blameless – it was all Cassano’s fault, who held neither.
- Guy quoting his alumni association’s fundraising appeal
I like my CFAs like I like my coffee – ground up and in the freezer.
Say what you will but 5 months in loserdom really makes you appreciate the summer
Spark a Doob?
@15 Wasn’t the pass rate 34% in 2004 I haven’t looked at mine yet but I thought it was 39% this year and so it’s the 2nd lowest on record.
Whats the situation?
failed, will waste another spring next year
@6
…like having a Columbia MBA.
failed too, uhhg
Bess, I respectfully submit that your inbox is a god damned national treasure, respectfully.
@15, Either way Diageo is looking at a good day, if anything I’d be shorting LVMH.
-Guy who dreams of opening an event driven liqour focused fund
Game, Blouses
@4 keep fucking that chicken
WHIRRR BEEP BOOP
STAR FAILED TURING TEST
USER SGREENBERG ALSO FAILED
STAR SPENDING REST OF DAY PLAYING 302.4 MILLION GAMES OF MINESWEEPER
I’ve got a CFA and an MBA, so eat shit.
Russians are fowl!
Another line in already cluttered resume :)
Whats the age of consent for chickens?
Can’t believe that I failed the Cat Fanciers’ Association membership test.
Really love how this last month and half is just long enough to make you forget what utter brutality it was to study for the Level II. And thankfully I failed just in time to sign up for it all over again tomorrow. Thanks CFA Institute, you evil sassy money grubbing bitch.
in soviet russia, chicken fucks you!
the chicken looks so regal in that picture
Any one get Level 1 results yet.
Thanks Bess, you just reminded me why I like working in London.
- Guy doing just fine with no career pressure to do MBA, CFA or any other grad school BS.
CAIA > CFA?
CAIA is the designation closer to the cutting edge of finance and is gaining quite a bit of recognition.
I failed, but they informed me that I was in the top 10% of the failures. Umm…thanks? Didn’t have much time to study and thought I’d give it shot anyways. So close..
I failed Level II, but they informed me that I was in the top 10% of failures. Umm…thanks? Didn’t have much time to study, but thought I’d give it a shot. So close…
passed L1, gettin’ drunk tonight. holler.
Finance Feud Top 5 Reasons “Why I Failed Level II”:
1) I got REALLY sick two weeks before the exam
2) I had three friend’s weddings in May
3) I got a new job in mid-April. Imagine leaving early to study in this economy?
4) I am getting married in July/August/Sept
5) Someone has cancer and wouldn’t survive if I studied.
@43 The CAIA has a pass rate of 71% for level I and 56% for level II. They’re practically giving those things away.
CFA>CAIA
anyone here a cmt?
As a level 3 candidate, the only thing this morning has me thinking about is how hard the morning section was and how f*cked I am in 3 weeks when those marks come out.
-Guy who knows goal of passing 1,2,3 in the quickest time possible is about to be crushed
Has anyone ever done the retab? i know its worthless, but i might try for peace of mind.
@49 CMT is the antithesis of CFA. If you put those letters by your name, you better be spouting some serious Elliot Wave nonsense.
@51 retab is simply a means to further line the pockets of CFA institute. I heard it has a 0% success rate. Kinda like the disciplinary challenge rate — the institute posts all disciplinary actions, and the results of those who appeal; 0%, every time.
Passed Level 1.
Celebrating by studying for Level II. F*******CK!!!
But at least one is done and it’s on to the next one.
I actually must say, I’m a die hard Laker Fan and playoffs were killing my focus so I’m glad that the Lakers won it all in the end and I ended up passing this damn thing.
Did Shia Labeouf pass Level II?
Did anyone NOT pass Level I?
i heard shia leboef is a CMT
I passed the level 1, now I will take the level 2. It was a relief since I had to hide from my boss that never supported the idea of me taking the CFA, such a moron. Moreover I had to pay the test , the supporting materials etc.
Well, it is done, it was a good experience to take the CFA.
@57, time for a new boss/job
Anyone know when the CFM results will be placed on the intra-spirit-net?
Hoping we can top last yrs 100%.
I heard JoS A Bank is giving a BOGO on CAIA designations this week only for those who faield the CFA exam…..
Here’s a nice pic of Shia :
http://www.nypost.com/p/pagesix/celebrity_photos/celebrity_mugshots_WA5pbhsVDHDnPNPXl4eZtO?photo_num=4
I can’t wait to see these comments when the Traders get off work….
@48, yes CAIA is a much newer designation and therefore, like the CFA at its inception, its 2 levels for now. The subject matter in CAIA goes beyond the meat and potatoes that’s tested on the CFA… its not “easy” by any means and many of the CAIAs are also CFA designees. CAIA is the “new thing”.
no email for Level 1 result yet. anyone else still waiting?
how bad did I score that they didn’t even bother sending me an email
Yahoo and Hotmail are having issues with the results. There is a thread on Analyst Forum:
yahoo emails delayed
Posted by: js1013 (IP Logged)
Date: July 26, 2010 11:29AM
I just spoke with rep from CFA. Yahoo and some other public email providers are delayed, because emails are being sent in batches. We should receive them in 4 hours.
I took level 2 and haven’t received the email yet either…
If it makes anyone feel any better – Level III is way harder than Level II and the fact that you dont find out till mid-august is even better. This from someone with a top 3 MBA, lot’s of work experience (doing the CFA for shits and giggles) who passed LI in december and LII a few months afterwards. LIII sucks, interesting to some extent, irrelevant in others, but overall a very hard exam. After LII, I pretty much went through the math and figured out I passed (thanks to the guys who got expelled from the program for posting every questions), for LIII, common sense would tell me I passed but you walk away not having any idea, it sucks.
CAIA is pretty easy, but interesting, not a bad way to stay sharp between CFA levels. They also use the CFA code of ethics. I’m not sure it does much to help as far as employment goes, but at least you can bring something to an alternative investment interview.
The CFA is the biggest waste of your valuable time. Best case scenario you lose a year and a half of your life studying. (6 months for each test).
@67 Get over yourself
@67 I agree completely. I took level 3 in 2007 and didn’t study enough. Some of the material was interesting, some of the articles were very dense and I didn’t really understand them.
I failed the exam quite miserably and vowed not to be in the same situation next year- I spent another 300-350 hours in 2008 and scored about 10% above minimum passing.
And I went into the CFA exams thinking I had a good background-3.7 undergrad, 740 gmat, HBS ’05… the CFA exams can humble just about anyone (I know they are not as tough as actuarial exams or PhD math/physics/chemistry qualifiers but still…)
CFA v. MBA?
@51 – I spent several years going to C’ville to grade, golf, eat, drink, and repeat. Don’t bother with re-grading. The exam may be many things, but it is not unfair and it is graded extremely carefully. They may be a bit full of themselves, but they are fair.
@57 – Get a new boss.
Those who trash CFA’s – blow me.
Those who think CFA is wonderful – douchebags.
–CFA/MBA who would rather golf and drink.
@71
I STRONGLY doubt you had a 740 GMAT, went to HBS and had so much trouble with the CFA, unless your undergrad major was English Literature and your work experience was as a Financial Advisor at Smith Barney
@71 And I guess HBS stands for Hindu Bovine School…
740 GMAT / 3.70 undergrad???
@71
I should have clarified that’d also be technically possible if your you studied Mathematics/Physics @ Pacific Tech (graduated by age 16 having built, then destroyed a laser & tracking system for a top-secret Air Force laser while making a metric f*ckton of popcorn) and your work experience was 5 years as Jim Simons’ ash tray.
literacy tests are hard
-asshole
Still waiting for Level I results…thanks a lot Yahoo!
Those who could not pass and want to find out what is new in curriculum can visit
http://www.Finquiz.com/tips
You can find line by line comparison of new and old syllabus
None of those Top 5 Reasons @47 applied… but I failed L2. I wish they didn’t inform me that I was in the top 10% failures, which doubled up my frustration. I really need something to focus on (more for my mental health!) until I restart my L2 study early next year. Any suggestions? Anybody who prepared CFA and CPA simultaneously or back and forth? Any better (more efficient/valuable/realistic) combination? I just bought a pack of cigarette for the first time this year. Please help!
The CAIA is a joke.
If you take that you better already have either a top 10 MBA or CFA (and if you have one of those and haven’t made it yet, you won’t. So don’t take the CAIA either.)
The CAIA is like LeBron James. It tries but it just can’t get there on its own.
MBA is Jordan. CFA is Kobe. There ya go.
CAIA is for people that couldn’t get into B-School and aren’t smart enough to pass the CFA.
@81. stop trolling. everyone knows b-school is a joke
Why does it seem like > 10% of the candidate pool finished in the top 10% of failures?
Still waiting for the result! Is gmail with problems?
Passed Level 2
Next Steps
1. Pass Level 3
2. Smash 800 on the GMAT
3. Achieve greatness
waiting results from hotmail too!
Everyone knows business school is easy, devoid of acadmeic content or challenge and one’s liver pays the price for two years of slacking off… that said, getting admitted to Wharton and similar places is far from trivial.
the CFA exams at every level are considerably more difficult than any MBA finance classes available anywhere. Yet, CFAs don’t help other CFAs so the networking opportunities are limited.
87 here, “academic content”, apologies for the typo
passed level I, now need to enjoy a couple of months of having a social life before jumping on level II. The score if anyone’s interested..
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 - - *
Cleared level 1.
Was struggling to score even 60% in the two ( only )mocks that I wrote. So those not able to fetch good makrs in prep need not wory..
Its just the state of mind onthe exam day that matters.
I rose from the freaking dead for level 2.
@6 – A little jealous are we? It’s easy to drop thousands on a Columbia diploma, have professors bark at you, and then brag about you ivy league MBA. It takes balls, grit, and more work than you’ll ever do to self-study and pass the CFA.
And seriously, if you turn down job applicants b/c they have a charter, you should get your money back for your candy-ass, fancy MBA. They didn’t teach you how to hire people properly.
PASSED! WWWWOOOOOOOOOOOOH! I’m F$%$#%# happy man!
BTW, I did not get results via email. If you didn’t get them, go to the CFA website, results are posted.
And to all the MBAs talking shit – Haters Gonna Hate!
Are these professional designations really that relevant? Do you really need all of this to look at a bunch of squiggly lines, support and resistance, moving averages, and use common sense?
People’s quest for self worth in the insane and asinine in this country is mind boggling.
MBA? CFA? So you really need this when a Series 65 is all you need to passive manage some old dirty money dbag’s funds into some boring investments? Most of you either over-diversify (which is stupid, you are better off just plunking it all on an index) or just mimic some bs strategies that can barely beat the returns of certain stable Caribbean/Swiss bank CD’s.
If you are an active manager, you know damn well a CFA is overkill.
@92 This is exactly my point. If you are “smart” enough to have an IVY MBA or a CFA why are you dumb enough to APPLY ANYWHERE?
All those brains and you cant incorporate? Trading is the only business with limited overhead costs, great Tax advantages (for sole proprietors, llc etc.) and instant, clear cut, dry results.
Why not start up your own shop, show some returns on your limited capital, and then attain bigger money after proving yourself as opposed to coasting on a fund of funds approach or some BS BETA 1 fund?
If you are so smart, why do you look for stamps of approval from ridiculous organizations that scam you out of millions (collectively) of dollars in tests fees, prep fees, and even worse TUITION costs?
Simple math. The 140k mommy and daddy spend on your degree can be flipped into more money using derivatives, if only you were half as smart as you thought you are.
More simple math. Use those brains to return 15% plus, and a 2/20 is all the numbers you need on a “lousy” 10M to attain a nice 500k life. Do any of you CFA people make 500k while managing your own life/business?
Stuart Smalley CFA
I know one thing is for certain:
I would not fail an MBA program, especially with all the hand-holding and emphasis on “building relationships”. On the other hand, I was not able to pass L2 – there was just too much actual information for me to learn this time around.
One more thing. Approximately $2500 (fees) out of every 10,000 Barnum quotes (suckers) equals $25M, per YEAR!
The irony is:
a) How many of the originators of this test would pass it?
b) How long before a BA comes up with another Test Institute to certify these clowns, for a fee of $5,000?
c) How many CFA’s can beat the Locals in the Chicago Pits in returns?
Getting a CFA or MBA to manage money is like getting a Parisian Culinary Degree to cook on a Foreman grill.
Just my opinion.
Tootles,
Stuart Smalley CFA
@94, 96,
what if you lose the initial 140k from your parents? are you saying you’ve never had a losing run? if so, you are a fucking liar. So everyone interested in finance should be a hedge fund manager from the age of 18? And if you lose that money, then go collect garbage or deal crack for the next 40 years? Good thinking! But seriously, we appreciate your ability to distill the situation. In summary, you believe education is for suckers, learning is stupid, and trading derivatives in your basement rocks. More frightening thought, what if your parents don’t give you 140k? what if you actually have to make your way in the world without the money from your douchebag father and prosty mother?
@97. Wow. Apparently you never learned how not to blow up a whole account. If you lose money, most managers are smart enough to incorporate, again, under a different name and try again and try to make past clients whole again, if possible. If not, someone with common sense would take the loss, work hard, and try again. A lowlife like you would probably spend 18 months on 3 letters you could probably lie about anyway, and be middle management crap for 5 years to try and round up the same 10M you should of started working on years ago.
Also, you sound like an angry moron who still believes in paying other people to learn things instead of going out and doing them yourself, or…*gasp* READING A BOOK AND FIGURING IT OUT FOR YOURSELF!
1. I never said learning is stupid, you, however, lack reading comprehension skills. What I meant to say is that paying a professor to lecture, you know what, nevermind, loser.
2. I find it interesting that you wonder “if you actually have to make your way” after posting a rant that amounts to collecting garbage or dealing crack are the only two ways to make money. You, again, are a moron.
If collecting garbage (honest job) and dealing crack are the only two ways you can think of making money, I would like to introduce you to Al Gore’s greatest invention, THE INTRANET. With this marvelous tool you (yourself a marvelous tool) can learn to extrapolate wealth however, judging you are too busy ranting on a financial blog I doubt you have the skills necessary, you keyboard monkey.
3. Making your way in the world does not include wasting 3k on a test most people fail to a “non-profit” org and then settling for hustling rich people out of money.
4. I empathetically suggest you read Richard Dennis, Jack Schwager, or learn to read a chart.
5. If you are not interested in running the money yourself, you are quite simply, a parasite, a sponge, a mooch. What the hell are you planing on doing with your CFA if not to manage money?
What will you offer planet earth besides angrily replying to a post by an Al Franken SNL Character?
So basically, you are saying, one should take limited risks and be a lemming, work for other people instead of recruiting capital after growing a pair and striking out on your own?
6. Furthermore, my dear moron, if it takes you 40 years to recoup 140k, you are beyond salvation. No three letter designation and paper stamp of approval can save your lost soul.
7. Self Education is for winners, Education is for suckers. Learning is the only way to get ahead, and nobody said anything about trading derivatives in a basement.
8. Another great invention is the LIBRARY. Memberships to this elite institution costs about $3 not including late fees. Also, an internet connection will run you about $50. Since you know so much about life and drug dealing, if you flip a couple of grams of Lindsay Lohan you can afford all of these and pocket the difference so that you can frame your CFA toilet paper in a nice frame.
9. According to ANONYMOUS #97, trading derivatives in your basement is the new killing it.
Very Truly Yours,
Stuart Smalley CFA
I don’t know how anyone can run down a CFA or MBA- even MBAs not from Wharton, Harvard, etc.
Education and self-improvement are admirable things- it isn’t pleasant to self-study hundreds of hours each year for three years to pass the CFA exams. Similarly, it’s not exactly fun to write long essays on leadership and career reflections for b-school apps.
A lot of people need a boost for career progression- not everyone majors in math at Harvard, graduates summa cum laude and starts at GS algo or Rentec.
CFA vs. MBA: try to get both if you need to for career development
@99
You got me there. You guys are stuck into career development where I am talking about entrepreneurship, going balls out and starting on your own.
A great professor once told me “You either get it, or you don’t.”
Relying on outside institutions for certification leads us into a system of cogs, obedience and utter failure. Who do you think thought up the great idea of scamming Mortgage credit ratings and the like?
How many idiots who ruined our economy had an MBA or CFA?
3 Letter words after your last name dont mean squat in the REAL world.
Self Education is admirable. Education from a system that rewards mediocres and silver spoon brats is not worth feeding into, unless you own KAPLAN stock.
How many more students have to go broke into debt for a worthless American college degree before all of you wake up?
How many more scams have to be realized in order for people to trust RESULTS and not phony designations?
Self Improvement is admirable but not at the expense of common sense, which in analyzing these comments, is not so common.
I guess your really awesome MBA programs have never taught you about these two great words: OPPORTUNITY COST
Ahh, says the one eyed man in the land of the blind, what you all live by is fear. This fear is what keeps you in line and living mediocre.
Good luck to all the CFAs and MBAs out there. Let me know when those 3 letters help you beat the market by 20% over the last 4 years managing 15m.
Thank God Bill Gates, Michael Dell, Larry Ellison and countless other entrepreneurs never relied on silly pieces of paper, or else you might not have a computer to spew your ignorance from.
Im sorry that the thought of failing to stand out and be remarkable offends you when you look into the mirror and fail to see the lies you have bought into.
Good luck with your MORTgages, College Savings Plans, Buy and Hold strategies and whatever other nonsense you paid people to tell you.
Very Truly Yours,
Stuart Smalley CFA
P.S. Please name the last great American Entrepreneur or Money Manager with either an MBA or CFA after their name.
and by great I mean Renaissance type returns. :)
But you know what, I give up. Go get your CFA.
Wait, doesn’t Simons (RenTec founder) have a phd? While not a cfa or mba, that would still inspire me towards higher education.
@100: While being an entrepreneur is admirable, and most investors’ goal at some point in time, pretty much all big money managers have an MBA, if not at least an undergraduate degree.
It’s pretty tough to convince people to invest in you after you drop out of the 8th grade.
I sense some hostility towards those that pursue an education. Have you ever thought that you can’t raise more than $15mm due to lack of an advanced education / network? Not trying to be an ass, but don’t hate on people bettering themselves…
@102 You think you need a PHD to come up with a C++ or Javascript Trading Algo? I recommend
the following site http://www.buccaneerscholar.com/
Also, piratebay has some awesome books on programming, so does Amazon, Half.com and your local library. Even XBOX makes programming software (XNA, C# apps) and learning materials.
The thought that you need someone else’s permission to learn something complex is absurd.
@103
you guys just dont get it do you? results matter more. sorry, its not my fault.
no piece of paper can ever hide the incompetence that abounds in this country.
then we wonder why China literally OWNS us.
its that, lemming, if everyone else jumps off a bridge mentality which will prevent us from advancing as a nation.
I never said anything about not having an undergraduate degree or dropping out in the 8th grade. Fascinating, the lack of reading comprehension here is astounding.
If you still think you got your moneys worth in your undergrad degree, you are a liar and a moron.
I never stated I manage 15m, any less or any more. This further elaborates the lack of reading comprehension available to some of these readers/commenters.
Hostility is correct. If your American Education leads you to conclude such arrogant statements such as “Have you ever thought that you can’t raise more than $15mm due to lack of an advanced education / network?” without considering the possibility of Results trumping Paper…The fact that you ASSUME out of the need to validate your quest is sad.
I doubt serious investors would knock the opportunity to make 20% returns, legally, regardless of the 3 letters after a person’s last name.
A CFA, PHD, MBA, not even a JD or a MD can ever cover up stupid. If you are intelligent, resourceful, and creative AND you have one of these, then you might be onto something.
Judging by the whining and lack of reading skills, I doubt any of you have the aforementioned skill set which is why, again, you are arguing with an Al Franken SNL Character.
Again, with the CAIA, CFP, CPA, CHA, CFA, MBA all competing, how long before another institution creates an incredibly hard exam before you all are arguing over which is worth more?
I got an idea, CAJ.
Fees: $5,000
Test Prep: $3,000
Look on the recipient’s face when they find out what CAJ stands for? Priceless.
Lastly, if you dont get the hustle by now, I dont know what to tell you. First they have you and me chase a BA, to find its worthless. Next you get into debt to get an MBA, to find out, its worthless in an outsourced economy.
What are we specializing in this country, besides brainwashing and corporate welfare?
I know Indian kids with BA’s that have more sense, humility, and business know how than the most “educated” retards I had the misfortune of working for and with until I finally liberated myself from the “Office Space” rat race you guys call work.
I can tell none of you are traders. Most traders I have the pleasure of knowing are BAs,from State schools, who make more money than any of you can wave a stick at.
***Irony*** At the end of the day, the people managing your pensions, and most rock star Traders barely have BAs. You can get to a trading desk at 24 which is a more intelligent use of your time than chasing fledgling pieces of paper.
Call the Goldman desk, maybe the JPM desk or even some rock star Russian Props, ask them how many of their 20% plus guys have CFAs.
Whatever happened to HANDS ON EXPERIENCE? Oh thats right, people started drinking the EDUCATION kool aid and forgot what WORK is.
Stunted minds, stunted thoughts.
Will any Traders back me up?
Actually, come to think of it, How many of you have ever traded your own account? Someone else’s?
How many of you can pay rent with a chart?
Didnt think so.
Very Truly Yours,
Stuart Smalley
I passed Level I.
What’s next: Level II or Level III?
Meth-fueled rants are the new killing it.
Stuart Smalley-
fair enough- but how do you get onto the trading desk at Goldman, JPM or any bank? It is really, really hard. The CFA or MBA doesn’t guarantee you’ll get this opportunity but certainly helps your resume in the fiercely competitive screening process.
I know at schools like Penn, Columbia and Cornell, 800+ people apply to the same internship in on-campus recruiting. It is a little easier at Dartmouth (becuase of off-cycle winter internships) and at Yale (less people are interested in finance). When I was an undergrad in ’02, getting a trading assistant job was not an option and I was an above average econ grad from an ivy. I think you underestimate how difficult it is to get any entry-level trading job (including Optiver, SIG, Jane Street, etc.)
@81 – YOU are a joke! its idiots like you that give finance types a bad name. have some respect for yourself and this profession or go pound sand.
CAIA > non Top 10 MBA > CFA
@Stuart Smalley CFA – Why’d you capitalize MORT in mortgages
The only way someone can have such a roid-rage like Stuart Smalley’s, is if you failed CFA Level I at least 5 times and gave up…
@107
Brand consciousness and keeping up with the joneses is the problem. Eff Goldman! There are plenty of prop trading firms in the city started by like minded people who dont come from Silver Spoon backgrounds.
Hell, there is s a kid who sells penny stock reccos that routinely trounces the competition. Furthermore, there are plenty of Generation XBOX traders who can beat the pants off many of your Quant, Upenn morons that claw at trading jobs for banks that could care less about them or their career goals.
@ 111 You wrote this at 1:55 am. Second, I am not stupid enough to sit for a test that says nothing about my ABILITY or RESULTS, only about my willingness to fit in.
Third. Roid rage? No, just the amusing fact that most money managers with fancy designations cant even beat the S&P, yet “stupid traders” and public school products such as myself constantly put all you Ivy leaguers to shame.
@106 How do you know about Meth fueled rants? Oh, and you sound like a frat dork with the killing it phrase.
ALL YOU MORONS MANAGE MONEY? Or are you too busy playing into other people’s definitions of self worth and status?
@107 I understand your situation and would recommend you look into some less prestigious Prop Trading firms that do not have any fraudulent activities going on.
There are a few to stay away from and a few to look into. You can often start with as little as 5k managing a smile amount, say 100k while you learn the ropes. After proving you know Risk Management and how to actually make money, your leverage will be higher and you will be given the opportunity to make salary plus a percentage of profits. A bigger help is to learn APi, C #, C ++ or even Java or Pearl. If you can make it to manage 1m to 5m at a small prop, you can then shop your track record around and look for assets to manage elsewhere or start your own small fund.
This, of course, is hard, and takes time. For me, it was an easy decision as I cannot stand school cogs and phony people you find in Finance all the time. Dressed to the T and couldn’t short a double top with a 1% stop if their mother’s lives depended on it.
Will you take a haircut in salary (if any)? Yes. You will quickly learn that prestige is bs. What matters is results.
How many CFAs does it take to buy a breakout? To short the Bush Oil double top? To get ahead of a CPI report? To go long Bonds when stocks are hammered?
How many MBAs do you need to diversify a portfolio?
Will you learn how to trade and learn risk management? I hope so.
Will you learn the nuances of the market, by yourself and in a far smaller time frame? Absolutely.
Furthermore, why is it that time and time again the best energy traders are usually from Texas public universities and you have quant firms that hide their results?
Maybe this IS a meth fueled rant. Side topic, whats with quants never posting their results, visibly, on the front page of their websites?
Judging by all those degrees and CFAs, Jane Street etc. should be blasting the markets at 30% plus a year!
@ 113
I meant small amounts, not smile amounts.
I hope the last rant was helpful. Good luck and Ciao as this is my last appearance.
You can catch me on youtube! Here it is! my most recent portfolio gains and results!.
Buon Viaggio!
Stuart Smalley CFA
“Ciao as this is my last appearance”
Ahh, THANK YOU. It got way too boring by @94.
Now… Let’s Talk About: CFA Results
if you are thinking about getting CFA you should.
if you are thinking about CFA and MBA just do both.
if you think you don’t need either, you don’t
@ Stuart Smalley
True what you are saying, the world needs more people who think like you