• 07 Aug 2012 at 11:56 AM

Let’s Talk About: CFA Level III Results

Fifty-two percent of you are walking on sunshine. Your bags are packed, you’re ready to go. Next stop: CFA Camp. The rest of you need a hug or for your colleagues to at least do you the courtesy of leaving you alone for five minutes to JO&C.

128 comments (hidden to protect delicate sensibilities)
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Comments (128)

  1. Posted by Guest | August 7, 2012 at 11:01 AM

    Still don't have my results. This is a little ridiculous.

  2. Posted by Packed for Camp | August 7, 2012 at 12:02 PM

    Fuck you, fuck you, fuck you, you're cool, and I'm out!

  3. Posted by Guest | August 7, 2012 at 12:05 PM

    Don't drop the soap!

  4. Posted by Matt's Self Esteem | August 7, 2012 at 12:06 PM

    Writing 3 blog posts the day before the level III results come out instead of taking the test is the causeway to cool*

    *Assuming 2 margs + 15mg Adderall per post = fun day

  5. Posted by guest | August 7, 2012 at 12:08 PM

    Don't forget to write!

  6. Posted by Guest | August 7, 2012 at 12:11 PM

    I don't have my results either. Not good for my anxiety.

  7. Posted by just passed | August 7, 2012 at 12:12 PM

    Prematurely adding ", CFA" to your resume before actually receiving the charter is the NKI

  8. Posted by Bob Ryan | August 7, 2012 at 12:14 PM

    What if I told you that you could spend 3+ years of your life studying your ass off for 3 little letters and the once-in-a-lifetime opportunity to go to the day camp for the elite, the best-of-the-best, in a special little place called Charlottesville, Virginia? Is that something you might be interested in?

  9. Posted by Anonymous | August 7, 2012 at 12:14 PM

    Drinking Bell’s scotch tonight!!!! Qualified. Finally.

  10. Posted by guess | August 7, 2012 at 12:18 PM

    Hope they werent about to get staffed on a deal…

  11. Posted by Anon | August 7, 2012 at 12:23 PM

    And this one time, at CFA camp, we were supposed to send all candidates their results at 9am, but we didn't, and the candidates didn't know what we were doing, and it was so funny!

  12. Posted by 2013 camp counselor | August 7, 2012 at 12:28 PM

    Passed. I hope the rest of you did too.

    -Guy who is too beside himself with pure joy to make a snarky comment

  13. Posted by guest | August 7, 2012 at 12:28 PM

    You know what's a good way to get rid of anxiety?

  14. Posted by piehole | August 7, 2012 at 12:31 PM

    ..and then you stuck your calculator in your pussy

  15. Posted by merkin_capital | August 7, 2012 at 12:32 PM

    Why aren't you answering my calls?


  16. Posted by Largebrneyes | August 7, 2012 at 12:36 PM

    ps…Thanks for the 2+ years of hard work…you're still going to be downsized in the latest cost cutting move. Have a nice day.

  17. Posted by .Bo | August 7, 2012 at 12:39 PM

    Got mine at 9:33.

  18. Posted by eee | August 7, 2012 at 12:47 PM

    I haven't gotten my results yet, this happening to anyone else?

  19. Posted by MBA | August 7, 2012 at 12:50 PM

    Congrats to the 52%, now take a seat next to IT and get working on my VAR!

    As for the 48%…put down the HP12C and get working on my P&L you JEDI spread sheet monkeys!

  20. Posted by Yes | August 7, 2012 at 12:53 PM


  21. Posted by Guest | August 7, 2012 at 12:55 PM

    And for that, I hate you…

    -guy sitting waiting for his results as the clock closes in on 1pm

  22. Posted by Anxiety Guy | August 7, 2012 at 12:57 PM

    1 part Xanax, 6 parts vodka

  23. Posted by Buzz Killington | August 7, 2012 at 1:10 PM

    Do not think of the CFA as a magic qualification that will turn your CV around. The CFA will not cover for poor academic performance or for having graduated from a less-known university. If lack of "academic prestige" is your issue, we recommend you go study an MBA / Master Degree at a top business school. On the opposite scenario, if you already graduated from a top school, adding the CFA qualification will probably not make a significant difference to potential employers. Unfortunately, there are so many people with CFAs nowadays that even though people will recognise that getting the CFA is a lot of hard work, the qualification has definitely lost some of its prestige. In fact, only very few bankers have the CFA.

  24. Posted by derpies | August 7, 2012 at 1:11 PM

    "dear Mr. D. Bag, you are now 60 days delinquent on your Sallie Mae loan obligation. If you do not make a payment within the next 30 days, we will be forced to come to your house, knock on the door, get on the floor, everybody do the dinosaur."

  25. Posted by guest | August 7, 2012 at 1:11 PM

    " In fact, only very few bankers have the CFA."

    and this is relevant to the large percentage of readers who work at hedge funds how?

  26. Posted by guest | August 7, 2012 at 1:12 PM

    "we recommend you go study an MBA / Master Degree at a top business school."

    who is 'we'…

  27. Posted by guest | August 7, 2012 at 1:15 PM

    sounds like someone couldn't get past lvl 2

  28. Posted by Koolaidisfun | August 7, 2012 at 1:16 PM

    Passed, JO&C, went to Minettas and took the wide-clops to pound-town.

    Cocaine is a hell of a drug.

  29. Posted by Guest | August 7, 2012 at 1:18 PM

    The 12C never fits right…

  30. Posted by No in New Canaan | August 7, 2012 at 1:19 PM


  31. Posted by guest | August 7, 2012 at 1:20 PM


    -CFA.org member

  32. Posted by Guest | August 7, 2012 at 1:20 PM

    Fuck everyone in the ass. I am the 48%.

    -Guy who should probably go work for his dad

  33. Posted by Kaplan Schweser | August 7, 2012 at 1:25 PM

    Buzz Killington, MBA (University of Phoenix) has violated Standard VII(B) Reference to CFA Institute, the CFA Designation and the CFA Program.

  34. Posted by thread-killa | August 7, 2012 at 1:27 PM

    keep hatin' – just passed 3/3, bitch. Go spend 100k+ at your prestigious business school. An average undergrad and a lot of hunger got me the job your wife wishes you had.

  35. Posted by Fah-Q | August 7, 2012 at 1:28 PM

    They run VAR @ Shake Shack?

  36. Posted by Why so Hungry? | August 7, 2012 at 1:29 PM

    You know you were allowed to bring your own lunch, right?

  37. Posted by reverse polish | August 7, 2012 at 1:32 PM

    you have to stick it in backwards

  38. Posted by thread-killa | August 7, 2012 at 1:32 PM

    lunch is for whimps – hunger drives

  39. Posted by CFA Ghana | August 7, 2012 at 1:33 PM

    I've been waiting 2 years+

  40. Posted by that english guy | August 7, 2012 at 1:39 PM

    ….don't think your dad wants you anymore.

  41. Posted by basement | August 7, 2012 at 1:40 PM
  42. Posted by Guest | August 7, 2012 at 1:43 PM

    Who wants to have a celebratory drink?

    – Not in the 52% or the 48% but just looking for a reason to have a drink.

  43. Posted by The Dude | August 7, 2012 at 1:43 PM

    You know, the Royal "we"

  44. Posted by .Bo | August 7, 2012 at 1:43 PM

    Best of luck. I think there area lot of people in the same boat. CFAI dropped the ball.

  45. Posted by Birdlaw | August 7, 2012 at 1:44 PM

    Apparently, you need to review the section on the law of diminishing returns on unrelated references.

  46. Posted by Guest | August 7, 2012 at 1:45 PM

    Annoyed I had to wait until 1:40 to find out i'm in the 52%…That is nearly 5 hours of quality drinking time the CFA cost me

  47. Posted by Im_a_Dude | August 7, 2012 at 1:48 PM

    this is a tense time for some people (not me) and we dont need to asshole link to mcdonalds

  48. Posted by güest | August 7, 2012 at 1:49 PM

    Band 10 here… sucks that I got so close to it all being over…

  49. Posted by Guest | August 7, 2012 at 2:00 PM

    Don't worry, the average CFA isn't funny anyways.


  50. Posted by Anon | August 7, 2012 at 2:01 PM

    VaR to the masses !
    — JPM Risk

  51. Posted by Koolaidisfun | August 7, 2012 at 2:03 PM

    They have sufficiently low correlation that they still provide diversification benefits

  52. Posted by Zombcharter | August 7, 2012 at 2:03 PM

    You should be annoyed that I am about to eat your brains!!!!

  53. Posted by .Bo | August 7, 2012 at 2:06 PM

    That's better than 5 hours of depressed drinking.

  54. Posted by Guest | August 7, 2012 at 2:07 PM

    I rolled the dice and put it on my resume even after I failed to pass level I. Got the job. The 0.035 pc chance HR finds out was worth the risk. I'm performing and chase pussy with my boss, so even if they find out I lied, I'm willing to bet it's NBD.

  55. Posted by Guest | August 7, 2012 at 2:09 PM

    What's the CFA exam? Is that what the unconnected take to get a call backs? Tough but fair.

  56. Posted by cordell | August 7, 2012 at 2:10 PM

    .. and still, all kids get pumped up, but no one gets to know their actual score, or the passing score, not to mention seeing a graded exam.. (top secret)
    exam fees > membership fees > "full and fair disclosure

  57. Posted by Laxbro | August 7, 2012 at 2:14 PM


    Sorry sport but:

    Two years of traveling, raging, plowing undergrad biddies and the lifelong connections from business school for $100k > CFA

  58. Posted by Guest | August 7, 2012 at 2:18 PM

    Even if you failed, put in on your LinkedIn. Recruiters are so thirsty for a nut they won't verify your shit if you phone well and have a strong credit score.

  59. Posted by D. Loeb | August 7, 2012 at 2:18 PM

    Don't fucking count on it shithead.

  60. Posted by Barclays guest | August 7, 2012 at 2:20 PM

    Passed, <=0 ethics, hmd

  61. Posted by CFA Ghana | August 7, 2012 at 2:20 PM

    know how i know you got your MBA? you think VAR is a reasonable risk measurement tool.

  62. Posted by Laxbro | August 7, 2012 at 2:21 PM

    With the advances in modern science I'm sure a surgeon can safely remove that chip from your shoulder. Go out-of-network and the surgeon might even waive your co-pay.

  63. Posted by sport?really? | August 7, 2012 at 2:23 PM

    All of the above mentioned activities require going to business school? I had no idea. Go do your homework, bro – if your assignment is 1 day late you get a 5% reduction.

  64. Posted by Guest | August 7, 2012 at 2:24 PM

    Yea, because the average CFA dork is CEO material and/or ever going to be listed on a public filing. Nobody cares about another back office drone.

  65. Posted by Dalton | August 7, 2012 at 2:36 PM

    Stupid and obnoxious.

  66. Posted by New at this | August 7, 2012 at 2:43 PM

    I'm telling you – this zombie character is starting to grow on me!

    – guy that is still riding the high of getting 5 likes on a comment yesterday

  67. Posted by guest | August 7, 2012 at 2:54 PM

    please tell me that's a joke. any bank/fund worth it's salt will fire you instantaneously if they find out your resume contains a falsehood. added bonus: you get to explain "the whole mixup" to the next recruiter / interviewer.

  68. Posted by guest | August 7, 2012 at 2:58 PM

    Well put.

  69. Posted by Guest | August 7, 2012 at 3:07 PM

    I hope these zombie posts go the same way as TGFD; preferably quicker…

  70. Posted by Guest | August 7, 2012 at 3:15 PM

    All the cool kids are doing it

  71. Posted by guest | August 7, 2012 at 3:15 PM

    also, while you weren't paying attention, banking turned into the worst job in finance. unless you like working 75 hours a week, 30 of them on airplanes, and getting rewarded at the end of the year with restricted stock moving in the wrong direction.

  72. Posted by cfalvl3pass | August 7, 2012 at 3:18 PM

    brb while i submit an expense reimbursement and have a $750 steak dinner

  73. Posted by TGFD | August 7, 2012 at 3:21 PM

    S my D, CF.

    The Gay From Delaware

  74. Posted by Guest | August 7, 2012 at 3:29 PM

    One of the most poorly constructed insults in 2012

  75. Posted by Lord&SaviorJC | August 7, 2012 at 3:30 PM

    Hey guys, Jim Cramer, CFA here. Just wanted to give all you new brethren a big old country BOOYYA SKEEEEE DADDDYYYYYYYYYYYY from the Jimster

  76. Posted by Guest | August 7, 2012 at 3:31 PM

    In Soviet Russia call backs unconnect you.

  77. Posted by Guest | August 7, 2012 at 3:31 PM

    freecreditreport.com quant?

  78. Posted by guest | August 7, 2012 at 4:03 PM

    try this: multiply the .035% chance you get caught with the 100% chance you're unemployable if you do. you like that number?

  79. Posted by guest | August 7, 2012 at 4:15 PM

    HBS can HMD

    Neil Diamond

  80. Posted by CFA | August 7, 2012 at 4:19 PM

    Daddy's golf buddy got you a job? Awesome.

  81. Posted by Guest | August 7, 2012 at 4:27 PM

    so .035% of the time you're unemployable every time?

    – B Fantana

  82. Posted by Guest | August 7, 2012 at 4:38 PM

    CFA > MBA

  83. Posted by guest | August 7, 2012 at 5:34 PM

    Ah yes, $100k at a top b-school to buy more friends like Laxbro, barely learning anything other than how to JO your own ego, and never having to disclose your GPA to potential employers is far better.

  84. Posted by Guest | August 7, 2012 at 6:34 PM

    So true.

  85. Posted by Guest | August 7, 2012 at 6:43 PM

    As a CFA and an MBA from a top 10 school, let me just say neither one is better than the other. Both are good, neither are great. And they aren't really comparable except for the fact they both fall under the business umbrella. Stop trying to compare the two, and stop thinking one is the end all and the other isn't worth anything. Like I said, both are good, neither are great. Work experience trumps both. So while it may give you an added benefit to getting your foot in the door for an interview, a simple undergrad with experience and without CFA/MBA will get the job all else equal.

  86. Posted by 25th Hour Trader | August 7, 2012 at 7:13 PM

    Three letters that spell dilution: KCG.

    -Trader who hopes everyone sees what he did there.

  87. Posted by Guest | August 7, 2012 at 7:19 PM

    Respectfully disagree.

    — T. McGee

  88. Posted by Guest | August 7, 2012 at 7:19 PM

    I mean.. that would be awesome, no?

  89. Posted by Raj Rag WG'83 | August 7, 2012 at 10:22 PM

    Worked out great for me in the end.

  90. Posted by Guest | August 7, 2012 at 11:06 PM

    "Yea, because the average CFA dork is CEO"


    1. Hedge funds generally don't have CEOs period. Are you sure you're on the right website?

    2. As far as the CEO equivalent, say general partner, a decent amount of the ones in alternative investments do have CFAs.

    3. Compared to who? MBAs? Do you think the average MBA is CEO material? Are you smoking crack?

    4. The survey that HBS produced of alumni showed that the average earnings of graduates was 350k per year 26 years after graduating. That's close to the average for all CFAs (minus the being in their early 50s part). Not impressed.

  91. Posted by Love that commercial | August 7, 2012 at 11:45 PM

    Peggy from Primecredit?

  92. Posted by Guest | August 7, 2012 at 11:48 PM

    New here? Because we prefer the obvious and logic to sarcasm/jokes etc.

  93. Posted by güest | August 8, 2012 at 8:37 AM

    - UBS Dyslexic Quant?

  94. Posted by MBA | August 8, 2012 at 9:08 AM

    There's <10 (worthwhile) schools the practice GND. Last I saw, the Ivy was roughly split.

    Other than that, no concerns.

    – guy who would probably end up being friends with Laxbro at b-school

  95. Posted by MBA | August 8, 2012 at 9:11 AM

    No, we can't all just be friends.

  96. Posted by Guest | August 8, 2012 at 9:37 AM

    CFA/MBA = unmarried book smart beta male who prefers to work alone and hates his current job… amirite?


  97. Posted by Guest | August 8, 2012 at 11:35 AM

    75 hours a week? Take your middle market hours and go back to Cleveland, bro.

  98. Posted by Boats n Hoes | August 8, 2012 at 12:46 PM

    When you lick my butthole!

    -Brenden Huff

  99. Posted by Guest | August 8, 2012 at 1:48 PM

    I just like to learn new things, but no designation is going to secure you a job in this environment. I work in sell-side research and enjoy my job. Also already married.

  100. Posted by VW203 | August 8, 2012 at 1:56 PM

    How many times did you fail Level I?

  101. Posted by Guest | August 8, 2012 at 2:22 PM

    @laxbro – you are why MBAs don't matter anymore

  102. Posted by SingleBookSmartBeta | August 8, 2012 at 2:24 PM


  103. Posted by Guestido | August 8, 2012 at 11:28 PM

    i bet you don't have many friends.

  104. Posted by leveriched finance | August 9, 2012 at 10:10 AM


  105. Posted by Done and dusted | August 9, 2012 at 11:31 AM

    Dropping the ball? Please, you've been in this game for (at least) 2 years and you can't wait 30min? An hour at most?

    I passed, but I dunno, I guess I just don't get that excited about exam results now after 20+ schooling/tests etc.
    Regardless of my result I was convinced that I will never, EVER, set foot in another exam hall in my life!

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