Good news! My employer decided yesterday to give me a lot more time to study for the CFA!
Bad news… it’s really a lot more time. A lot. Like, too much, really.
I’m sorry. That’s a real loss for your employer.
I’m Da Church of the faithful, I’m Liao Fengyi, clergywoman mother should have to introduce you to me, I have seen you twice, in which time you are more impressed with everyone I guess in the back of the church at noon to eat noodle face!
you got fired? really? i feel for you man. but your a smat person, you will be ok. i have read some of your posts and you know your sh*t. once again sorry
its horrible out there. plough all your efforts into cfa!
I am sorry to hear this plyon.
Use this time to crush the CFA (as I know you will) and I bet you end up at a job you will love. It could be a blessing in disguise.
I would have gone with the badnews first…
That sucks dude. Don’t know what to say.
Sorry. I firmly believe you will successfully turn that into good news, good news.
Actually, it makes me want to start a money market fund so we can take advantage of the ridiculous talent available. Isn’t there like $3 trillion in money mkt funds right now?
what is 0.0020% of 0.005% of $3 trillion?
sorry, plyon. hopefully this bad news will turn into good news because of an unexpected incredible opportunity that comes up.
Although bad, but not really bad at all.
Firstly, good timing, you have two good months to prepare exam, if you are not able to find another job instantly.
Secondly, in future interview, you can tell the interviewer that you quit the job in order to prepare for the exam. That could be a good excuse to quit.
> Although bad, but not really bad at all.
> Firstly, good timing, you have two good months to
> prepare exam, if you are not able to find another
> job instantly.
> Secondly, in future interview, you can tell the
> interviewer that you quit the job in order to
> prepare for the exam. That could be a good excuse
> to quit.
Succinctly put, Pinkman.
Nonetheless, we roll with the punches. I work on Wall Street and this is what happens. I’m buying a new house Friday so I’ve got some pretty strong incentives to get my rear-end back to work.
I think my wife is more shocked than I am (I was with the company for about 12 years and saw my portfolios grow by $25 billion during that time), but all’s fair in love and business. There’s only one form of revenge worth taking: getting a better bigger job and leaving the old one in the smoke.
Damnnnnnn…. $25 Billion.
If you are willing to share how did it go down when they told you?
“Thanks for growing the business $25 billion but we have to let you go?”
Really sorry to hear that.
With that type of AUM on your resume, passing L2, you’ll find something that’ll work out better in the end.
Sorry to hear that Plyon and I firmly believe you will land a better / more promising job soon.
Sorry to hear. Things always have a way of working out in the end.
Sorry to hear this Plyon!!!!!!!! … 12 years, $25billion…. sick this world is!!!
Extremely sorry to hear about this news. I know you will crush the L2 exam come June, but the bad news part sucks. Especially with the economy and the job market being what it is. Hope you find something that matches your obvious potential quickly, so you can recover, emotionally.
Thanks, guys. I’ve been pretty lucky to have had that position and run things as long as I did. I had a huge amount of discretion and control and that made it a great job. We didn’t blow ourselves up or anything like that, but from the (non-US) parent company perspective, they didn’t want the liability of a fund that took really ANY risk. My job was to take some risk and add incremental return.
If that gig is up, it’s time anyway. Might take a little effort to find the right match, but I’m out there. Send any tips (job search related – I don’t need your spare change, yet) to plyons AT optonline.net.
truly sorry to hear the bad news. i hope things will turn up for you soon.
Plyon, in what city and area of finance did you work?
Did they give you two weeks at least? I took a contract employee position for my first job when I graduated college for a defense contractor. And when things began to slow down, they canned me with no notice, no managers present, no reason no anything, HR guy just came down and essentially told me time was up, I had to pack my stuff into a box. He said he even asked if they had any reasons and they didn’t give him any. It was a good lesson early on for me regarding how fickle employers can be and it’s shaped my career path since.
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
Edmund… I’ve been running short - term fixed income mutual funds and separate accounts in and around New York City for the past fifteen years.
Black… yep… that’s called “employment at will” (which is NY State’s basic employment rule). Unless you’re a protected class, you can be fired for just about anything or nothing at all. And even if you are a protected class (which I am most certainly not) it’s an uphill battle to prove anything.
But no worries… it’s sufficient to say that my “package” won’t leave me short on the cable bill for a couple months.
Hang in there plyon….Life Goes On….
Keep your fingers crossed..and your books under your pillow when you sleep at night :)
Kill L2..and you’ll be laughing back at this soon enough…
That sucks Plyon…..oh the ways of the Street. Was it Enhanced Cash? … alot of guys getting cut in that space…I’m sure you’ll find something quick…Good Luck.
Just heard the bad news… you will definitely earn high marks on all sections like you did on level 1… good luck on your job search.
> That sucks Plyon…..oh the ways of the Street.
> Was it Enhanced Cash? … alot of guys getting cut
> in that space…I’m sure you’ll find something
> quick…Good Luck.
Some was enhanced cash, but mostly 2a7 money market funds.
Had to skip my Schweser class tonight because I’m scrambling to close on a house this Friday or I’ll lose my 10% (did I mention that?). This is getting interesting.
Gotta say, I am back on track to hit highs on all levels at this point. Lotta work between now and then, but I do have the time finally.
I’ve not been posting as much this year because frankly work has been insane. I’ve been getting into the office before 6AM (which means up at 4 AM) and pushing hard all day and often not even seeing my son at night. Studying until 11 PM and repeat. Brutal. The sense of relief is a big off-set to the stress of losing my job.
It gets pretty old defending over and over again why you lent $xxmm to Bear Stearns / Lehman / xxx Company last year.
Like everyone else, I’m sorry about your job, but you certainly have a good spirit and that is “priceless”. Your talent is upthere and should have no problem landing a new gig, it’ll just be a matter of time. Be patient.
As someone else mentioned before, life goes on and you’re on to better and bigger things.
On to CFA stuff - now you’ll be able to repeat your L1 saga and can even join a gym to be mentally and physically fit for June 7 and enjoy your family …. that’s pretty neat.
Good luck, you’ll be just fine.
I don’t even want to hear your Book 6 scores this year plyon… you were killing me last year.
A good old Nelson, “haha” would certainly seem appropriate, but sadly Chad took away the ability to post pictures. I hear Wendy’s is looking to hire due to the unexpected success of the Baconator, just a thought.
Find yourself a registered investment advisory firm….the good ones usually grow their AUM under these conditions and the average profile of a RIA firm has most of the owners over 60 with no succession plans. Good money, great flexibilty and quality of life.
sorry to hear that plyon..
Sometimes life just seems unfair when people who do no work but lick the boss’s @ss sit there, n others are just told goodbye.
there sure is something better in store for you, All the best.
Thanks for the confidence, guys.
Tough week, but we close on this house with a new lawyer and a new loan all arranged in 5 days. All I can say to the rest of you is, keep your credit scores around 800 and these things can happen.
Re-starting my studying today (was scrambling all week, plus took last night off to celebrate with some champagne with my wife – could be the last good bubbly I get a taste of for a while!).
Very hard to kick back into things. Starting Monday I’m going to have to report to the local library (a fine institution, by the way) first thing 9AM. Should be able to do that just about daily for the net 70 days. Four serious hours a day should be sufficient from here.
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