To most of the world, June 7th is just another summer Saturday. To those sitting for the Level I, II, or III CFA exams, it’s the day that determines if months of sacrificing their personal and professional lives– and in many cases, general standards of hygiene– in exchange for study time paid off. For those taking I and II, successful performances will dictate if they buy the books for II and III, or slink back to their old test prep rooms as if nothing happened. Those who pass III will be one step closer to mecca. Read more »
150,000 Financial Services Employees To Find Out Saturday If Last 4-6 Months Of Their Lives Were Worth ItBy Bess Levin
For 49% of the June test takers, this is the greatest day of your lives. You have spent years chasing after those three little letters. You have sacrificed time, sleep, relationships, and money. Money not just spent on books and prep courses but on the jacket sitting in the back of your closet, still in the garment bag, with the gold stitching on the breast pocket. “You want it to say what after the name?” the guy in the store asked? “C-F-A,” you said. “All caps.” “What’s CFA,” he wanted to know. “It’s designation, for investment and finance professionals,” you told him. “It’s three little letters that give confidence to investors worldwide.”
“Oh, kind of like a CPA?”
“No not like a CPA at all. This is…so much more.”
You knew you were jumping the gun getting the coat before you’d even taken the Level III exam, but you just couldn’t stop yourself. And it’s not like you wore it around town. It just sat there, behind a bunch of crap. Somehow just knowing it was there gave you hope and on nights when you needed a little extra motivation to finish a particularly grueling practice test, unzipping the bag and running your finger across the crushed velvet lapel and over the fine buttons helped get you through it. Read more »
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.
In the 2+ weeks since MF Global filed for bankruptcy protection, much has been written about Jon Corzine’s penchant for making wild bets, which worked out fine while he was at Goldman Sachs, where risk managers are empowered to stand up to employees putting the firm/bonus pool at risk, but not so much at MF-G, where he was a man on a mission. If JSC could turn back time…he’d still be JSC and he still would’ve had that little voice, down his plums, telling him to risk it all on Eurozone debt, which in turn would’ve caused various people to freak out, start a run on the bank and drive it into its current state of affairs. Separately though? This business with the customer funds that were desegregated from the firm’s own money and which are currently “missing,” despite several manhunts and “magical mystery tours” to find it? It didn’t have to be that way and maybe it wouldn’t have been if someone had been forced to dust off his series 24 books and review the section on “customer accounts,” before cramming into a test center and sitting for the exam alongside all the other scrubs, sweating through his sweater vest over getting at least 70% correct. 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 »
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? 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. 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:
From a candidate:
How about a shout-out for those of us who are sleep deprived and freaking out about tomorrow? something to cheer us up and forget that we paid over $1k for this test that (according to all estimates) most of us will probably fail. Something special, because we need it. Give us hope, something to look forward to, that’s all we really want. I know it’s only level 1, which screams ‘n00b’. I mean, if it was any more of a joke it’d be the Series 7, right? But even ‘n00bz’ need encouragement.
You’re all going to do great! And if you don’t, it’s not like this shit matters. 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: