• 16 Aug 2011 at 10:17 AM

Let’s Talk About: CFA Level III Results

Fifty-one percent of Level 3 takers have reason to feel really good right about now: the opportunity to attend CFA Camp is so close you can taste it. For the rest of you, whose state of mind is not helped by the fact that more people passed this year than last and yet the Chartered Financial Analyst gods chose not to bring you along for the ride, the promise land is still nothing but a dream.  And, as long as we’re all being honest here, the last several months (/years) have been a nightmare from which you feel like you might never wake up.

In the event you want to express whatever emotions are running high right now, be it anger or sadness, but work in narrow-minded institutions that will presumably not appreciate psychotic meltdowns– the likes of which would have Biff Basness slowly backing out of the room– or JO&C’ing on company property, don’t be shy about letting it out right here. We’re listening.

68 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (68)

  1. Posted by CFA? | August 16, 2011 at 11:00 AM

    I heard nobody cares, is that right?

  2. Posted by Failure | August 16, 2011 at 11:11 AM

    [youtube B3wHwAUQlVc http://www.youtube.com/watch?v=B3wHwAUQlVc youtube]

    I will not be drinking Bell's tonight. There's always next year.

  3. Posted by JJTON | August 16, 2011 at 11:14 AM

    I need my CFA to learn to read a balance sheet in addition to trade the trend. Where can I get this CFA?

  4. Posted by guest | August 16, 2011 at 11:18 AM

    I don't need a test to tell me i'm Certifiably Fucking Awesome!

    -1st yr Goldman Analyst who doesn't know any better yet

  5. Posted by The Guy Who Got Beat | August 16, 2011 at 11:19 AM

    I'm 26. Never before in my life has my ego been bruised. Until now.

  6. Posted by Bill Tetley | August 16, 2011 at 11:25 AM

    I took the PSAT once. Totally fucking owned it.

    True story, no homo

  7. Posted by guest | August 16, 2011 at 11:27 AM

    Sad trombone.

  8. Posted by 203203 | August 16, 2011 at 11:28 AM

    I'm 45 and used to it. You will be too after your wife has 3 kids and considers sex once a week a lot.

  9. Posted by guest | August 16, 2011 at 11:29 AM

    What's a CFA?

    – UBS MD

  10. Posted by RealALT_est | August 16, 2011 at 11:31 AM

    Five years for a TLA is the NKI.

  11. Posted by Chewier | August 16, 2011 at 11:33 AM

    Looks like this guy will soon be able to upgrade his 10 year old monitor. Congrats indeed.

  12. Posted by Guest | August 16, 2011 at 11:35 AM


  13. Posted by Managing & DIrecting | August 16, 2011 at 11:36 AM

    Once a week you are extremely lucky! Once a month with 3 kids is the NKI.

  14. Posted by Hungover | August 16, 2011 at 11:37 AM

    I turned up after a Wedding the night before and passed. Seriously, they dropped the bar this year, NFW that makes sense.

  15. Posted by Hungover | August 16, 2011 at 11:39 AM

    I see what you did there and I like it

  16. Posted by VonSloneker | August 16, 2011 at 11:43 AM

    Canada is calling!

    -John Molson

  17. Posted by 2_Small_2_Bail | August 16, 2011 at 11:47 AM

    51%? Fuck that. Did some of the markers @ camp get laid this year or??

    -Guy who passed last year @ 46% and is now the asshole that wants pass rates lower

  18. Posted by MFE | August 16, 2011 at 11:49 AM

    CFA L3 pass. Not bad at 24.

  19. Posted by Anal_ist | August 16, 2011 at 11:50 AM

    I have realized the pass rate, like the designation, doesn't mean much of anything, but maybe that is because I passed in 2005. Don't worry. You'll come around.

  20. Posted by Guest | August 16, 2011 at 11:54 AM

    Passed at 23… Guess that really shows how worthless the designation really is.

  21. Posted by guest | August 16, 2011 at 11:56 AM

    Who the fuck made the pics for this post? It takes 4 yours of experience, not three.

  22. Posted by That Guy | August 16, 2011 at 11:57 AM

    None of you passed. I can tell by the improper use of the designation all over this comment section

    -That Guy

  23. Posted by ShortNaked | August 16, 2011 at 11:59 AM

    3 kids? Broadening the Social Security wage base is the NKI.

  24. Posted by CFA4 | August 16, 2011 at 12:03 PM

    chartered fuck analist! see you at level IV bitchez!

  25. Posted by dontshoot_itsme | August 16, 2011 at 12:10 PM

    Halfway around the globe, Abebe, a Ghanaian CFA level III candidate, stubbornly refused to acknowledge that his 2010 exam was, in fact, still not processed and graded.

  26. Posted by Guest | August 16, 2011 at 12:19 PM

    Don't laugh. CFA + MBA part time, two classes a week. Google it.

  27. Posted by JJTON | August 16, 2011 at 12:19 PM

    No. You know better. Stay there 2 years. Then get out! Run your own money. The rest is a joke. You'll end up dropping 500k then realize it was pointless.

  28. Posted by guest | August 16, 2011 at 12:31 PM

    CFA L3 passed. Not bad at 42 (considering during all my designated 'study sessions' I told the wife I needed to leave the house for I was at the bar).

  29. Posted by Guest | August 16, 2011 at 12:34 PM

    Oh, shit. Mutherf***er piece of !#@#$!

    – Ben Bernanke

  30. Posted by guest | August 16, 2011 at 12:58 PM

    Hey, Bess! I passed! Am I now qualified to get a date with you?

    – Guy who pursued the CFA designation to get in B.L.'s knickers

  31. Posted by 25th Hour Trader | August 16, 2011 at 1:02 PM

    Never getting married or having kids and doing what you want is the old and NKI.

    -Trader who already heard the argument that "well if your parents thought that you wouldn't be here" and doesn't care. But seriously congrats to all who passed.

  32. Posted by Stupid Daikini | August 16, 2011 at 1:15 PM

    Getting drunk either way…

  33. Posted by Guest | August 16, 2011 at 1:18 PM

    500k? Jesus, how many times did you have to re-take each level?

  34. Posted by guest | August 16, 2011 at 1:50 PM

    I enjoy the fact that you're replying to a comment that was clearly FUCKING SARCASM and not left by a GS first year.

  35. Posted by Carlos Irwin Estévez | August 16, 2011 at 1:52 PM


    google me

  36. Posted by Mr. Market | August 16, 2011 at 2:20 PM

    Michael Fernsworth, a 4th year Jefferies tech analyst, is a candidate for the CFA. His boss (7th year Associate Patty Lee) mentioned, while he was studying, that a big job promotion was on the line. Michael just received his level III CFA exam results, and to his horror, did not pass. Patty enters Michael's cubicle and asks how he did. Should Michael:
    (A) Hang his head in shame, and say that he'll try again next year.
    (2) Fist-pump and say "OH YEAH BITCH" and try to bluff his way out
    (D) Get business cards that say "Michael Fernsworth has C.F.A."

  37. Posted by Guest | August 16, 2011 at 2:20 PM

    Knickers? Really? This is America

  38. Posted by Ray Finkle | August 16, 2011 at 2:24 PM


  39. Posted by Lil Squirt | August 16, 2011 at 2:26 PM

    Since when is marriage required to have kids?
    -A sperm donor

  40. Posted by Guest | August 16, 2011 at 2:27 PM

    E) Lay down his balls on the table and ask back: "What do you think, bitch?"

  41. Posted by Braap | August 16, 2011 at 2:28 PM

    I've got time to kill here, guess I'll give it a shot.
    -B. Madoff

  42. Posted by John D. Rogers, CFA | August 16, 2011 at 2:33 PM

    Why is this guy driving on the wrong side of the car? And who the hell is AIMR?

  43. Posted by Anonymous | August 16, 2011 at 2:37 PM

    Check out the sad tale of Glenn H. Downen… http://www.cfainstitute.org/ethics/conduct/Pages/

  44. Posted by minus 1 | August 16, 2011 at 2:42 PM

    in Ghana, Knickers are all the rage with the young broads these days

  45. Posted by VonSloneker | August 16, 2011 at 2:54 PM

    Google it? I coined the idea…coined and minted!

    -John Molson :)

  46. Posted by Anon | August 16, 2011 at 2:56 PM

    The CFA is so selective, it weeds out the criminals, like Albert W. Hsu.

  47. Posted by Nice Effort | August 16, 2011 at 3:01 PM

    You got a +1 from me because you went from (A) to (2) to (D), which is funny because you (1) went from alphabetical to numerical, and (2) completely skipped "C" and went straight to "D."

    UBS 1st year IBD?

  48. Posted by Dr_Rosenrose | August 16, 2011 at 3:06 PM

    +1 for the Willow reference.

  49. Posted by Dr_Rosenrose | August 16, 2011 at 3:08 PM

    Come on, obvious Home Alone reference. Shape up.

  50. Posted by Nice Effort | August 16, 2011 at 3:13 PM

    I consent to a public censure and will implement a self-imposed posting ban for the next 24 hours….

    – Shamed

  51. Posted by BessLevin | August 16, 2011 at 3:13 PM

    I appreciate you.

  52. Posted by VonSloneker | August 16, 2011 at 3:19 PM

    -1 for the Willow reference

  53. Posted by VonSloneker | August 16, 2011 at 3:21 PM

    On the other hand, Bob Lam is counting down the days until he can get his business cards reprinted.

  54. Posted by Anon | August 16, 2011 at 4:16 PM

    Examine your motives!! Oh, knickers…carry on.

  55. Posted by Oh Dear | August 16, 2011 at 4:24 PM

    Zerfoss, David (USA)
    On 11 May 2004, CFA Institute imposed a Summary Suspension against David Zerfoss, pursuant to Article 12.3(c) of the CFA Institute Bylaws and Rule 7.3 of the CFA Institute Rules of Procedure for Proceedings Related to Professional Conduct. Summary Suspension automatically suspends Mr. Zerfoss’ CFA Institute membership, membership in a member society, and right to use the CFA designation. Mr. Zerfoss pleaded guilty in the United States District Court of Hawaii to a violation of Title 18, U.S.C. §2252(a)(4), which is a felony.

  56. Posted by Whoops | August 16, 2011 at 4:29 PM

    TITLE 18 > PART I > CHAPTER 110 > § 2252A
    Prev | Next § 2252A. Certain activities relating to material constituting or containing child pornography

  57. Posted by Future CFA Level 2 | August 16, 2011 at 4:39 PM
  58. Posted by Put_Option | August 16, 2011 at 5:32 PM

    You are a 31-year-old Financial Rep. at Northwestern Mutual. You don't realize that most registered reps are considered jokers who manage their parents assets, and think you are the man. Your marriage is in the toilet and you have a High School crush on a generous 6 blond that works in your office. Its 5pm and you see a water bottle. Do you….
    (A) ROE = [EBIT / sales * sales / total assets – interest / total assets] * total assets / equity * [1 – tax / net before tax]
    (B) The upper limit of the estimate for the y-intercept is 4.13
    (C) Go home and plow your dud of a wife after a nice Hungry Man microwave dinner
    (D) Pull out a move from ya boy MK Lallana and show that trick what's really good

  59. Posted by Guest | August 16, 2011 at 6:52 PM

    wow… I'm gonna go with D, then C (but thinking about D the whole time)

  60. Posted by JJTON | August 16, 2011 at 7:38 PM

    Well, hey, any enjoyment in this market is good. $500k went to the hookers and red bull. Oh, and a shit ton of Hermes ties.

  61. Posted by Guest | August 16, 2011 at 8:29 PM

    Anyone without a CFA would funnel millions of dollars to an off-shore account, preferably in a country with no extradition to the US. It takes a true CFA to commit securities fraud and stay put, like Mark Yost.

  62. Posted by Managing & DIrecting | August 16, 2011 at 9:13 PM

    Lets say you were the CFA that found the fraud, toppled the first domino and then pressured management to out him to the State Division of Banking, FBI, etc, and then reported to him to the CFA Institute….not a lot of fun…..maybe less fun than sitting for L2…..

  63. Posted by Scott Caan | August 17, 2011 at 2:13 AM

    Article is such a cliff hanger, Can he still get child pornography at work, or perhaps at the local library? Is it alright if he downloads it via torrent without paying? What was the treatment that made him so 'unlikely' to pay for porn again? all these questions and more on the next Hawaii 5-0

  64. Posted by the zissou | August 17, 2011 at 12:17 PM

    What about Peter Ly?

    – Burnout/1st time CFA Level 3 candidate 2012

  65. Posted by Amiskgrady | May 3, 2012 at 4:51 PM

    view hermes birkin for gift hermes birkin online shopping

  66. Posted by Blowme | August 8, 2012 at 8:36 PM

    I see you are one of those asshats that likes to pretend they put in minimal effort when everyone knows you were curled up in a dark corner for hours on end every day over several months. Hey, after you are done being a douchebag on this forum, you should go tell the NASA people that you too landed a robot on Mars while you were pounding Jagers with your fellow frat brother dipshits at some $40,000 millionaire bar in fucking Iowa.

  67. Posted by crork | September 10, 2012 at 9:03 PM

    n0RrBE I loved your article post. Cool.

  68. Posted by cheap seo services | September 21, 2012 at 12:04 AM

    yFMPtf Major thanks for the blog article.Thanks Again. Will read on…