UGH!!!
well, I started in earnest my preparations for the Level 1 exam for the CFA designation. boy o boy.... am I having second thoughts! everyone keeps telling me what an amazing credential this is to get and how it could potentially change the scope of my entire career. but I am so absolutely regretting signing up for the charter.
For those of you that don't know, the CFA is an extremely difficult credential to obtain (see www.cfainstitute.org), it is a 3 year process with each year culminating in a rigorous, 6 hour cumulative exam. The amount of data on these exams is absolutely obnoxious. I looked into the CFP designation, but that credential sort of has the reputation of being the "CFA light" of the industry, as it is substantially easier to get. When I was discussing whether or not I should go for it with one of my bosses (who happens to be one of the partners/owners of the Company that I work for), he asked me: "what does the industry think of CFP's?," I said, "what?", he was like: "a CFP is someone who couldn't get their CFA." (full disclosure... this person is not a CFA charter holder).
It is much more work than I initially anticipated, and I knew it was a lot going into it. I think that once I get more in the groove, it will get better.... but until then, the subject matter is a bit intimidating. I just wish that I would have gotten this over with right after my MBA, so I would be in "school mode" (if there is such a thing). One of the main problems is that a lot of this stuff, I don't use in my current job on a daily basis, subjects like Economics and Quantitative Analysis... I got these subjects waived for my MBA since I took them in undergrad.... so these topics are examples of subject matter that I haven't looked at in 10 to 12 years!
Well, i can look at the positive side of things, last year, the level 1 passing rate improved for the first time in 6 years... it went from a 34% success rate to a 39% passing rate! hip-hip-hooray! i better get cracking!
whenever I think about how I wish that I didn't sign-up for the CFA, I think about a piece of timeless wisdom that my wife's grandmother use to say: "Wish in one hand and shit in the other and see what you end up with!" So true... looks like I can cry and whine all that I want... but it isn't going to change a damn thing! I need the designation, and I have to earn it... so I have a lot of work to do!
As things progress, I will let you know how it goes! Wish me luck!
About Me
- BIG Franky
- I'm a pretty simple guy when it comes right down to it. and that is the way that I want my life to be. In essence, I want to (and strive to) be the best husband and father that i possibly can. Although I fall short at times, in general I think that my family is pleased overall with the person that I have become. I try to base my life on the Bible, and even though I fall far short of being the person that God intends me to be, I think that I am on the right path.
5 comments:
Wow, if I had only spoken with your boss earlier I could have avoided getting my CFP designation. Perhaps I can trade my certificate back in for a roll of toliet paper?!?
In all seriousness, CFP, CFA or any other designation....they are all just tools. And tools are only as good as your ability and desire to use them effectively.
I think it's awesome that you are pursuing the CFA! Best of luck with your studies!
heh heh heh... hey there Stoney!
I am so sorry, i had no idea that you got your CFP, or that you were even pursuing it. My bad.
Obviously you can tell from my post that I dont know what the heck I am talking about!
I agree with you! Personally, i think that all of these "credentials" are scam-jobs anyways. that being said... i have been studying and it SUCKS! you really dont realize how little you know until you start reading some of these books!
anyhow.... thanks for commenting! YEAH! you were my first comment... it means that someone is actually looking at this thing!
Looking forward to June 16th!! See you then!
Don't feel bad at all, I was really only busting your chops.
As for your blog...honestly Frankie, I think it is awesome!! I really do. You've had some funny stuff, as well as really deep stuff. I have actually enjoyed checking in to see what's new on the site. You've got some talent....keep it up.
Franky Boy!
I definately like you blog. Keep it up. You do have a gift at this.
I have know idea what your CFP is but I'm going to go for my CIC designation that only about 2% of Insurance professionals get. I also think it goes by the designation CRAP, which means I spent a lot of time and money so my business card doesn't look so naked!
Seriously though it will help me get to that next level and actually know what I'm talking about.
What's your deep thought for the day?
Frankie,
P.S. I sent that blog at 7:08 but it shows 4:08. I assume Google must go by West Coast time?
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