Two days ago, the results of the Level III CFA exam were released. Fifty-one percent of you breathed sighs of gratitude and relief. After years of sacrifice and moments of crippling self-doubt, you were officially granted permission to place those little letters next to your name. Forty-nine percent of you were left feeling a bit less satisfied with how the June test panned out. We haven’t spoken with everyone, but in our professional opinions, we’re guessing most who failed are at stage two of Kübler-Ross. You’re so angry you can hardly see straight and you’ve fired off at least two emails to everyone associated with the Institute, Subject: “I see your three little letters and raise you three of my own: S a D” followed by a picture of a rabbit with a knife through it and a little card that says “YOU,” and then later, a photo you took using the self-timer function in which, and it’s kind of dark so it’s hard to make out, it looks like you’ve arranged hundreds of small candles spelling out the letters ‘c’ ‘f’ ‘a’ on your front lawn? And are attempting to put out the flames with your own piss?
And while many people have tried to tell you that it’s not a big deal, that you can take it again next year, that it doesn’t reflect who you are, that it happens to a lot of guys, nothing has seemed to work. You’re still really, really angry and deep down inside, you’re really sad, sad that you’ve been denied access to the club where apparently now they’ll let in just over half of anyone who shows up to take the goddamn test.
You shouldn’t be. In fact, you dodged a bullet. Read more »
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. Read more »
In a few short weeks, many financial services employees will begin the soul-crushing, life-sucking process of studying for Level I CFA exam given in December. So you that you don’t look back and realize you wasted 4+ months of your time on earth, most of you are probably hoping to pass. And sure, that’s a good goal. Cute, even. But if you want to really make a name for yourself and not be had by a would-be lawyer, you’re going to have to do better than that. Like going into labor during the exam better. Read more »
Until 2007, investment manager Andrew Oberwager and his girlfriend Karolina Stefansi were a happy, highly educated couple in love. Oberwager was a PM at Columbus Circle Partners, who had earned the right to not only put the letters C, F, and A after his signature, but M and D as well, having graduated from Harvard Med school before getting into investing. Stefanski, left, was a former Playboy model from Germany, who had earned her journalism degree from Suffolk University (the $33,000 tuition for which Obes covered). Thing were good. Then MDCFA maybe supposedly started an affair with a chick from Texas he met online, a relationship Stefanski was not cool with even though it probably meant nothing to Oberwags (i.e. he didn’t put her through vet school) and she took it to mean that upon breaking up, she was entitled to write herself a check from his account for $80,000.
Stefanski…contends the blank check was for her personal use. She wrote it out for $80,000 when she decided to return to Germany….Attorney Kurosh Marjani is arguing, however, that Stefanski had no authority to write out a blank check for $80,000. The blank check was meant to pay for household expenses, Oberwager testified Tuesday
Also? He wants the $33,00 back, too. Plus interest. Read more »
For the vast majority of those on the quest to become a Chartered Financial Analyst, there are three tests to be conquered and then they’re set. They’ve gained the keys to the kingdom. Three tests, they think, and you’re in. That’s because these people are not true children of the CFA. If they were, they’d spend their nights, weekends and holidays hosting CFA trivia night with friends, they’d scour eBay for CFA collector’s items, such as the first exam ever given, and they’d know that passing Level III? Doesn’t mean jack. Because after III comes the ultimate test: Level IV, AKA gaining access to Camp CFA.
What is CCFA? A weeklong “retreat” wherein the ultimate charter holders gather to decide who will be given the green light to spend the next 6 months of their lives studying for the next level and who will be punted back to square one. Whereas Levels I, II and III have pass rates that range from (ballparking it) 29 to 53 percent, i.e. anyone can get in, Camp CFA changes the lives of a mere 15 percent of people. And make no mistake, being chosen to attend Camp CFA is viewed as a life changing event. Some might even call it an honor. Read more »
It’s CFA time tomorrow and we know everyone taking it is going to do great! And if you don’t, it’s not like this shit matters– just ask any of your MBA friends. Alternatively, think about it this way– becoming a Chartered Financial Analyst will spell the end of your budding pornography career. If you’re truly beside yourself with worry, just breathe and remember that as someone very wise once said, it’s about the journey, not the designation. 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:
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They’re “thirsty” for those three little letters. Read more »
Here’s what she wrote earlier this week to a relationship columnist with the Boston Globe:
Long time, first time. Back story is that I started dating my best friend of about five years this past September. He is the most kindhearted, gentle, and fun person I know. He has seen me go through my share of bad relationships and heartache. He’s two years older than me and this is his first real relationship and longest relationship. We both started to like each other early last year but didn’t act on it until the summer. We were scared to cross the line and he was studying for Part 2 of the CFA (crazy finance test!) all last winter/spring so I didn’t want to distract him.
He was always the one pushing for us to start dating once it was on the table, and after spending time with him, I grew to love him. It’s by far the best relationship I’ve been in and he treats me so well I could see myself spending the rest of my life with him (I’m 23. I’ve been around the block. I’ve known him for 5 years).
He is in the thick of studying for part 3 of the CFA right now and has been since January. The test is in early June. I have been incredibly understanding about his priority (passing this test!). When his job and the studying became extra stressful last month, he threw a curve ball at me and said that he felt like something was missing in our relationship but that he couldn’t decipher if it was his external stresses or just us. We decided to work on it, but more recently the conversation came back up and he said he still feels something is missing. I’m deeply hurt by this and I really just hope it’s the stress of the CFA that is sucking the life out of him, but I also don’t think it’s fair for me to sit around and wait until after the CFA for my “trial period” to be up.
We called it off last night and I’m just looking for some help on how I should be feeling about this situation and what to do after the CFA is over in June. Reevaluate? Move on? Is he just a commitment-phobe?
– CFA is ruining my life, Boston
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Are you among the happy 36 percent? 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? Want to see the institute’s denial of your quest to put their precious three letters next to your name with three letters of your own? Or just have a good cathartic cry? Read more »
Forty-six percent of you are likely feeling prettay prettay prettay good this morning, possibly on account of celebratory morning drinks. The rest of you are probably in not as great a place, on account of having just thrown away the last 4-6 months of your lives. Read more »