- This topic has 855 replies, 442 voices, and was last updated Jan-21 by
Sophie Macon.
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Hello all!
I’m Sophie from London, UK and a 300 Hours guest contributor. I did the CFA exams back in Dec 2009 and completed it on June 2011. I survived the CFA and know how it feels, so basically here to help out and share the pain (+ laughter)!
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mjgavilanes said:retaking level 2. what’s the best material Schwesser and Wiley?
I was planning on going for Schweser, worked well for me in L1 but @ellieb19 is giving me doubts! Are there any differences in L2 that may call for a different provider? Schweser has a discount right now I think, so would want to decide soon.
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Welcome all, @artyeasel I wish I was already Level 3!
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@christine Nope, we present the exams in the capital city – Bogota. It would be like an 8 hour trip in car from Medellin, but fortunately air transport is cheap. They are only available in June though, if I wanted to take one on december, I would have to travel to Miami.
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@christine Not me; don’t know how many candidates… I know everyone is starting to recognize the certification and the exams, so it is starting to grow imo.
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Welcome @AjFinance! Glad to see you around
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Hola Amigos…
I’m Anant from India, currently working with a hedge fund in Singapore. I am a level 3 candidate. Would love to be part of intelligent discussion and enrich myself along with assisting people with their queries.
Not sure if I would be very active considering work commitments and upcoming level 3 exams (just started) but would try to contribute as much as I can. Cheers!
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@anantjain87 thats great since you’re already working at a hedge fund. Do you mind telling us more about your educational and professional background?
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Hi @anantjain87, glad you’re joining us 🙂
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Hi All!
I’m Matt, a Level 3 Candidate.
Currently based on the island of Guernsey in the Channel Islands having moved across from London in June 2012 to enhance my career. I’m an Assistant Vice President for a global bank where I work as a Relationship Manager specialising on fiduciary companies and their underlying clients.
Good to meet you all, and good luck to all taking the June 2013 exams…let’s hit them hard!
M
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Hello @MattJuniper, great to have you join us. We have a couple of Level 3’s around too. @AjFinance, @jimmyg, @artyeasel. I’m sure you guys will nail this, good luck!
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Hi @imdnextbuffet! Pity you’re not joining us for Level 2 this June, but you have ample time to prepare then.
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Hi all. I cleared level 1 in Dec 12. Thought to give sometime for myself so giving level 2 in June 14, in between plunging into reading loads of novels(my interest) & FRM as I dont have MBA after bachelors, so thought to have CFA&FRM as degrees. Working as research analyst since 2+ years.
@imdnextbuffet Welcome! We’re testing out a Book Recommendation section so would love to hear your recommendations! @DollarsToDonuts is also looking at equity research so would love your opinions on this (thread here). -
Hi @imdnextbuffet! Pity you’re not joining us for Level 2 this June, but you have ample time to prepare then.
Hi @reena, I know, I had thought so much on this matter once I received my results, me being lazy bum thought to give some time to myself and plunge some brownie time into novels and I was kind-off unsure too regarding, will I be able to cope up with the L2 in matter of 4 months? As I am full-time employed, time was insufficient for mediocre guy like me to attempt the exam & clearing it off.
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Hi all. I cleared level 1 in Dec 12. Thought to give sometime for myself so giving level 2 in June 14, in between plunging into reading loads of novels(my interest) & FRM as I dont have MBA after bachelors, so thought to have CFA&FRM as degrees. Working as research analyst since 2+ years.
@imdnextbuffet Welcome! We’re testing out a Book Recommendation section so would love to hear your recommendations! @DollarsToDonuts is also looking at equity research so would love your opinions on this (thread here).Thanks I just did.
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LOL @imdnextbuffet, so not mediocre, in fact it should have been a breeze given you’re in equity research!
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LOL @imdnextbuffet, so not mediocre, in fact it should have been a breeze given you’re in equity research!
Never judge book by its cover, so I would say never think just because one is working in “a” particular field can excel in their exams with an ease. I have this unique case, where a friends friend who was IIMA grad failed CFA Lvl2. Having job in the said field will give some ease but not that easy as far as my ability to crack the exam goes. May be I’m too conservative in approach so like to take least risk possible hence deferment of exam.
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@imdnextbuffet I read somewhere on the internet, there are people who have an MBA from Ivy league B Schools find it difficult to clear the CFA exams. There are some who even drop out. It also mentioned that maybe its partly due to the fact that they tend to discount the difficulty level of the exam.
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@imdnextbuffet I read somewhere on the internet, there are people who have an MBA from Ivy league B Schools find it difficult to clear the CFA exams. There are some who even drop out. It also mentioned that maybe its partly due to the fact that they tend to discount the difficulty level of the exam.
That’s exactly what I meant. Even an average guy can clear the examinations all at one go, if he/she keeps himself grounded, has a solid plan in first place and sticks to it till he/she dies.
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We did analytics in the last Dec 2012 exam and found that candidates with finance educational background (but no finance work experience) tend to have the lowest pass rates by far compared to other profiles.
My hypothesis is similar to @ajfinance and @imdnextbuffet – that underestimating the exam is what will kill you. You don’t need prior experience or education, just discipline and a fairly good brain.
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Since I do have a finance background, I can say with confidence that a lot of what I did in university it repeated in the CFA curriculum (so it is embarrassing on our part to do so poorly) – actually in level I there was barely any new material but I still had to study due to the sheer volume of the material!
Also I feel that the CFA exam is just one memorizing game – but that might just be me. -
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@CFACountdown just go for it. It can be tough when you have problems and issues on the personal front. I’ve had my share. Just put your head down and work towards your goal, thats all we can do. Like someone had said “I’m not saying it won’t be tough, but it’ll definitely be worth it.” Goodluck :-bd
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Hi @CFAcountdown! Don’t worry, I’m a Level 1 for June too, feel free to ask any questions you have here in the forum. We’re in this together!
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@christine is there anywhere to see the current total number of registered users? And how about a graph of this over time?! Obviously as analysts this stuff is important to us! 😀
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Also I feel that the CFA exam is just one memorizing game – but that might just be me.
Definitely not just you. I don’t find the CFA material necessarily tough – the concepts taught aren’t necessarily difficult to understand. It’s remembering all of them at the same time to take a 6 hour exam that’s the challenge.
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Hi @reneelliott yep! @shwebs and @hairyfairy are! Welcome to 3HC!
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Hello @reneelliot and @rocktheworld! Glad you’re joining us 😀
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Howzit @reneelliott!! 😀
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Welcome @reneelliott and @rocktheworld!!
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Hellooozzzz @reneelliott and @rocktheworld!! :d
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Hey @codebreaker! Glad you’re joining us. No worries, with hard work you can pass the CFA, regardless of background. Feel free to ask questions or join the conversations!
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Welcome @codebreaker. I hope one day your name changes to @cfabreaker! 😀
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Speaking from experience @sagarshah_31, YES! Awesome that you’re joining us here 🙂
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@sagarshah_31 Sophie has posts explaining how she awesomely did it. Here’s to begin with: http://www.300hours.com/1/post/2012/10/cfa-in-18-months-part-i-how-why-i-did-level-i.html#.UWFerKKZtqw
You can follow up on the rest on the 300 hours blog.
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Hello all. I am Vijay based in Singapore. Working with a bank in compliance function. (AML, KYC and all). Aiming for level 1 in December. Giving the exam in June also for experience. 🙂 Hopefully I will pass in June (only 30% possibility). If not I am confident I can clear lv1 by December.
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Thanks @Sophie, @SidMenon & @christine. Welcome @deepika.
I have gone through some of the discussion here and the conversations are quite informative and helpful. Glad to see people ready to help with answers / data in best way they can. I am getting addicted to this place. 🙂
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@bamoran89 welcome!
Hopefully we can dispel some of your nervousness. If you have any questions ask away. -
Welcome @bamoran89! Just let us know if you’re unsure or nervous about anything – we’ll try our best to help!
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Yo @bamoran89! Don’t worry, you’re in good hands here 🙂
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Welcome @bamoran89! You have nothing to worry about, now that you’ve joined this forum! 🙂
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@barmoran89 excellent question!
According to 300hours’s analysis it is a disadvantage. Imagine my shock because I also have a finance background.
But worry not I think the disadvantage is mostly due to overconfidence. Don’t discount the difficultly of the CFA exam because you have a finance background.You can get a detailed report here http://www.300hours.com/cfa-results-analysis.html
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@bamoran89 – a finance background does have an advantage in the sense that the materials are familiar, but according to this interesting study, this somehow led to lower performance on average, most likely due to complacency and overconfidence, as @diya mentioned.
Now that you know that, the lesson here is not to take the materials too lightly even if we have learnt them before!
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Welcome @bamoran89. Enjoy your 300 hours. 🙂
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Ohh.. Common misconception then? I am doing my executive MBA in finance (completed all modules and going to do dissertation after June CFA exam). To be honest, it helped me greatly with Quant, FRA & Corp Finance. It took considerably less time for me to complete these subjects for CFA prep. Not that I master those subjects 😀
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@Vijay some topics were exceptionally easy but FRA kills me since I wasn’t too exposed to that and my understanding of fixed income is also a little shaky since never did much of that in university either.
I find ethics really easy, but I think that is mostly due to the random ethics course and a couple law courses I took.
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@Diya, Lucky you. I am really scared of the ethics questions. I am having a kind of mental block I guess. Though people say that subject is test of your English and common sense, I have been consistently avoiding that subject. But now the time has come and I just started it today. 🙂
@Sophie, I am based in Singapore. -
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Wow, how’s life in singapore like @vijay? Maybe you can start a new thread, think some of us here like @Ajfinance are looking at overseas work options or even considering an MBA, so it would be great to hear about your experiences 🙂
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Wow, how’s life in singapore like @vijay? Maybe you can start a new thread, think some of us here like @Ajfinance are looking at overseas work options or even considering an MBA, so it would be great to hear about your experiences 🙂
+1
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Ohh.. Common misconception then? I am doing my executive MBA in finance (completed all modules and going to do dissertation after June CFA exam). To be honest, it helped me greatly with Quant, FRA & Corp Finance. It took considerably less time for me to complete these subjects for CFA prep. Not that I master those subjects 😀
@Vijay Hectic schedule indeed. But I bet it would be worth it 🙂 Where are you doing your MBA from? -
@sophie, yeah living in Singapore is cool. If you can take only two weather conditions across year. It’s either hot or it’s raining. 🙂 may be I should start a new thread as u suggest. 🙂
@AjFinance, sure mate. I will be more than glad if I can be of any help to find a job for you here. I did (technically am doing 🙂 ) my MBA from SPJain You have many more options here. Like Insead, SMU etc. Drop a note. -
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Welcome @Gary, and congrats on signing up! @rhino6187 and @bamoran89 also just signed up. Let us know if you have any questions, and we’ll be picking your brain I’m sure for investment advice! 🙂
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Hi Gary! Glad you’re joining the 300Hours gang 🙂 Feel free to check out the various discussions, there’s quite a few useful tips floating around under the “Best of” section, or start a new discussion thread on the top far left.
If you’re feeling competitive, you could always try to win the weekly competition 🙂
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Wow I miss a few days and there’s so much going on. Hi @jinalajmera!
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Hey @jinalajmera! Have a browse through the discussion topics, I think you’ll pick up a lot of good tips. Try CFA Level 1 Topic picks to start.
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Hello @Jinalajmera
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Hello @HPK, don’t fret, you have a whole helpful community here experiencing the ups and downs of CFA too. There’s a lot of good tips here, feel free to check out discussions, especially CFA level 1 ones for you.
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Hi @jinalajmera and @HPK welcome to the gang 🙂
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@hairyfairy. Sure I do feel it. But the soothing point is that I still have 230 days for the exam. 🙂
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Hi @sankrutimehta, glad you’re joining us! Sounds like you’re on the right track 🙂 Feel free to browse the CFA Level 3 topic picks, ask any questions, or help others out 🙂
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@sankrutimehta you made it! 🙂 Welcome to the forum – we look forward to your input and comments 🙂
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Hi Everyone ! am L3 candidate and struggling away ….! Many thanks to the immediate and very helpful replies i got today. Am very impressed with the site and the quality of output. Fantastic effort ! Congratulations and thank you ! Finding i cant remember what stuff i had done some weeks ago. sometimes mind is a blank when i thought i got down a concept well..eeek ! I find the return requirement most hard to nail. What do i do, just do the past exam papers ? Many thanks for your dedication and support !
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Hi @adossa3, thanks for your kind words 🙂 That’s what the last practice month is for, so keep us posted on how you’re getting on!
Hello @kidwaibhai, @dannimac – welcome to the community! We have quite a few Level 1 Dec here already so you’re not alone! And as usual, don’t hesitate to ask questions and help others too in the community if you can!
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Hi all, I am a level 1 candidate planning to give the exam in Dec 2013. I have a masters in economics with a major in financial economics, and have five years experience in the finance sector. Out of which two were. as a financial analyst in a hedge fund and three were as a functional specialist in an IT firm which dealt in financial software products. I an currently a stay at home mom with a five year old and a two month old. I am hoping to get back into my career in a year or two and hence the plan for CFA
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Hi @shchan, welcome to the community! We have quite a few Level 1 Dec here already like @Gary, @tonypetrunin, @bamoran89, @kidwaibhai, @dannimac, feel free to check out the topics or ask any questions.
Studying for CFA during this time seems like a great idea given all you have to juggle so far! @Katy and @Marc are parents too and we still don’t know how you guys do it – it’s amazing!
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Welcome @singhanand98! There’s quite a few Dec Level 1’s here already, as @Sophie mentioned above. We are normally a chatty bunch but have bunkered down slightly during this crucial month. :-B
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Welcome @dipeshrjain! I’ve no worries about that, we’re a friendly bunch. Are you a student or taking the CFA while working?
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Welcome @sakitime and @dipeshrjain! Hope your stay here is pleasurable and permanent 😛
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Welcome to all @dipeshrjain, @sakitime, @singhanand98, @shchan, @padniaki!
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Hi @yuvrajgohil! Welcome to the forum 🙂
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Welcome @yuvrajgohil! Are you taking Dec Level 1?
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Oh any reason for delaying it until then @yuvrajgohil?
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Hello @trivikyat – welcome! Do start a new discussion on that, i’m sure your fellow Level 2 peers will discuss/share their ideas.
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1st time Lvl 1 Candidate. I graduated with my MBA (concentration in Finance) early last year, and work as a Portfolio Analyst for a large Investment/Asset Management firm (+$2 Trillion in AUM). I work a LOT (over 100 hour per week w/ studying), and I really enjoy reading your posts, Sophie. I have followed many of your tips on prioritization and draw parallels to my own experience. Best of luck to everyone! I’m off to go study FRA (again). Lol
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Welcome @niravjoshi1988 – are you taking Level 2 in 2.5 weeks time?
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Wow, you’re starting very early then @niravjoshi1988!
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Hey @dreamzsnet – welcome to the gang! Are you taking Level 1 in December?
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@Zee, actually the opposite. I successfully transitioned from FP&A to healthcare IT a few years ago. The industry experience has been very good, and my company has been very good to me, but I don’t see staying in this part of the industry as a good long term fit. And, although I never thought I’d say this, I miss aspects of FP&A.
My background is very non-traditional and that continues to be a stumbling block in both interviews and career advancement. So I’m looking at the CFA to both mitigate some of the persistent “negatives” and to open up some avenues that are currently closed off to me.
For where I’m at in life, it seems a more cost-effective option than a traditional MBA and I’ve been very impressed with the Charterholders with whom I’ve worked in real life.
Thanks for asking. And thanks for the the warm welcome @Zee and @Sophie.
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Awesome @clwcain, thanks for sharing your story with us. I think it’s inspiring for candidates here looking for career switch too 🙂
Hello @connectconnect, welcome to 300HC! I bet I’ll see you around pretty often 😉
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Hello @Beancounter! Good to see you here, welcome – love the username 😉 Best of luck for Saturday!
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Hello frds, I`ve registered for December CFA Level 1 exam in the beginning of March, have done max 5% of all material:(.
I did my best to develop a study schedule, but with work I can`t still imagine how to manage my studies as I should.
Happy to find this forum, I`ve already found so many interesting advices. -
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Hello @BobBarkerPlaysPlinko – welcome to 300HC! Why not Dec Level 1?
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Helloooo guys,DevD here.I will be appearing for Level 1 this December from Dubai,UAE.Just completed my BBA and started skimming materials.Nice to read posts by supportive peeps like@sophie @christine.Wish you all best of luck.
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Hi guys, I just offered my L1 exams. I followed 300 Hours all these days and think its an awesome platform. Was free riding on all the comments all this while- too lazy to register I confess 😉 Am from Bombay, India. Earned my masters in law a brace of years from an Ivy League law school; Where the finance bug bit me hard. Decided to take the plunge even as I continue to grow in my original profession. Earn my living as a Corporate lawyer.
On a last note, Thank you Sophie for all the wisdom. You’re my hero.
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Hi guys, I just offered my L1 exams. I followed 300 Hours all these days and think its an awesome platform. Was free riding on all the comments all this while- too lazy to register I confess 😉 Am from Bombay, India. Earned my masters in law a brace of years from an Ivy League law school; Where the finance bug bit me hard. Decided to take the plunge even as I continue to grow in my original profession. Earn my living as a Corporate lawyer.
On a last note, Thank you Sophie for all the wisdom. You’re my hero.
Welcome @RonCoase!
Come on free-riders / lurkers, join in the fun! 😀
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Hi there,
I am an accountant in Stamford, CT (USA) and have been following the blogs and postings here for a while. I just took the level 1 exam a few days ago and I’m exhausted (although that’s mostly from all of the golf and drinking I’ve done since the exam, haha). Although I studied a lot for the exam, and I don’t think there was much that was unfair about what was asked, I’m afraid I may have failed because I grossly underestimated the stress on test day and how tough it is to be totally locked in under the circumstances. I guess we’ll see in 8 weeks.
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Hello @vanessaturner555 and @wemi_pearl007 – welcome!
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hehe yo @djwestwood!
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Hello everyone, stumbled across this neat website through a mention on a CFA related LinkedIn group 🙂
I’m writing from Toronto, Canada. Registered for Dec Level 1 (first time). Almost done my B.A. Business Economics and been active in financial markets since ’08. Felt like doing CFA 1 for personal satisfaction, so here I am. Some of you may be thinking there’s plenty of other ways of achieving “personal satisfaction” lol, but I love my finance and love to take challenges head on.
[Oh yeah, and I’m currently unemployed, but not really sure where to start looking to be honest!]
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Welcome to 300hours @metalhe4der!
I’m also from Toronto and much in the same situation as you. Hopefully the job search will pan out and you will find something soon!
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Hello @metalhe4der! Hopefully CFA would enhance the job searching 🙂
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Hey @vanessaturner555 – we’re doing all right! It’s nice and sunny here in London, where are you from?
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@vanessaturner555 hey, I’m just a couple hours away in Scottsdale, AZ. The CFA Society of Los Angeles has a nice prep course you can check out. I’ve heard good things. How’s the job market out there in LA? I know Newport Beach is a decent size hub over there.
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@vanessaturner555 Yeah I would recommend that as a possibility for you. I am (thankfully) happily employed and doing what I love over here. Probably not going anywhere else unless it’s a PM job somewhere, and it may take a few years for that. 😀
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Our Commandments would be a good place to start!
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