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.

(hidden for your protection)
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68 Responses to “Let’s Talk About: CFA Level III Results”

  1. CFA? says:

    I heard nobody cares, is that right?

  2. Failure says:

    [youtube B3wHwAUQlVc youtube]

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

  3. JJTON says:

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

  4. guest says:

    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

    • JJTON says:

      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.

      • Guest says:

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

      • guest says:

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

        • JJTON says:

          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.

  5. The Guy Who Got Beat says:

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

    • guest says:

      Sad trombone.

    • 203203 says:

      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.

      • Managing & DIrecting says:

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

        • 25th Hour Trader says:

          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.

      • ShortNaked says:

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

  6. Bill Tetley says:

    I took the PSAT once. Totally fucking owned it.

    True story, no homo

  7. guest says:

    What's a CFA?

    – UBS MD

  8. RealALT_est says:

    Five years for a TLA is the NKI.

  9. Guest says:


  10. Hungover says:

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

    • Blowme says:

      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.

  11. 2_Small_2_Bail says:

    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

    • Anal_ist says:

      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.

  12. MFE says:

    CFA L3 pass. Not bad at 24.

    • Guest says:

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

    • guest says:

      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).

  13. guest says:

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

  14. That Guy says:

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

    -That Guy

  15. CFA4 says:

    chartered fuck analist! see you at level IV bitchez!

  16. dontshoot_itsme says:

    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.

  17. Guest says:

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

    – Ben Bernanke

  18. guest says:

    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

  19. Stupid Daikini says:

    Getting drunk either way…

  20. Carlos Irwin Estévez says:


    google me

  21. Mr. Market says:

    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."

    • Guest says:

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

    • Anonymous says:

      Check out the sad tale of Glenn H. Downen…

      • Anon says:

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

      • VonSloneker says:

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

      • Guest says:

        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.

        • Managing & DIrecting says:

          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…..

      • the zissou says:

        What about Peter Ly?

        – Burnout/1st time CFA Level 3 candidate 2012

    • Nice Effort says:

      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?

  22. Braap says:

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

  23. John D. Rogers, CFA says:

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

  24. Oh Dear says:

    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.

  25. Put_Option says:

    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

  26. Guest says:

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

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