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CFA a SCAM????

Friends: I find this article on huffpost.com. Some reasons stand out to me. Is it true? Is a potential CFA who fails each exam 4-5 times and eventually passes worthy of investment manager job?

https://www.huffpost.com/entry/the-cfa-is-a-scam_b_7490348

You’ve made it this far, and you know what it takes to pass. Don’t be fooled by false promises and unrealistic claims. Schweser’s CFA® study packages give you the proven study tools and expert instruction you need to finish the job.

The guy tried to enter finance, gets eaten alive, whines like an absolute b!tch, and you’re going to give any credence to his tantrums? You should have stopped giving his opinions any weight the very second you realized you were reading a damn huffington post article. 

¯\_(ツ)_/¯ It be like that sometimes.

He makes some valid points which I have pondered about also. But this is utter bullsh|t :

“Telling people like this that they can solve finance and solve the markets is a critical mistake. There is no equation or unifying theory to finance no matter what people say.”

i don’t know where the guy got this part from but it’s absolutely not what the curriculum teaches you

It ain't what you don't know that gets you in trouble. It's what you know for sure that just ain't so.

TrackSuitInvestor wrote:

He makes some valid points which I have pondered about also. But this is utter bullsh|t :

“Telling people like this that they can solve finance and solve the markets is a critical mistake. There is no equation or unifying theory to finance no matter what people say.”

i don’t know where the guy got this part from but it’s absolutely not what the curriculum teaches you

Let’s egg his car.

¯\_(ツ)_/¯ It be like that sometimes.

I find many people naive. Sure if you own nuclear weapon and says to CFA institute either pass or destroy you then they will probably let you pass. 

imthekingoftheworld wrote:

I find many people naive. Sure if you own nuclear weapon and says to CFA institute either pass or destroy you then they will probably let you pass. 

what? 

It ain't what you don't know that gets you in trouble. It's what you know for sure that just ain't so.

yep some points are kinda true…or at least put some things in perspective. But for me you become successful in finance depending on what you choose to do with the info you learn through the CFA exams, and it serves as a major career enhancer if you’re already doing something along that path. If you’re simply trying to pass an exam and hoping that it makes you entitled to a high paying job then no one is going to hire you anyway. An analyst position opened up under me which drew in several CFA candidates (few that had passed all levels w/out work experience) and we went with other people more experienced. I will say that I felt a certain way when I saw that people who completed all three levels couldn’t apply their knowledge in a simple finance conversation.

Can’t take advice on higher education from someone with an undergrad degree and a couple years of sales experience. 

Not going to say CFAI doesn’t have flaws and issues, but to write a long article in one of the most prestigious news outlets on the planet is just dangerous!

CFA Charterholder
CAIA Charterholder

Sounds like a finance major who failed level one. 

The quintessential sour grapes.

Simplify the complicated side; don't complify the simplicated side.

Financial Exam Help 123: The place to get help for the CFA® exams
http://financialexamhelp123.com/

Seems like a typical HuffPost article. They are basically saying …. finance is evil…CFAI enbodies greed of Wall Street… feel the Bern

Don’t hate the player, hate the game.

I already paid huge price for it my manager and head of division failed level one about 4 times and they gave me hell time during level 3 until I moved to other department. My point is when you are a loser you can attack successful people easily CFA is amazing knowledge and I really like hard working people like me so if I pass I will attend my CFA society to meet people who know the certificate value. 

Well, I think we should all keep an open mind regarding the certification and its positive and negative aspects. I think its positive aspects greatly outweigh the negatives. But ignoring all criticism by thinking “they are just jealous of me” or seeking like-minded company who reinforce your current points of view simply creates an echo chamber.

It ain't what you don't know that gets you in trouble. It's what you know for sure that just ain't so.

It does bring some of the weakness into perspective, but after going at this for 5 years, I still think it’s beneficial and felt it was a well spent 5 years.

That guy is a moron.

 

TrackSuitInvestor wrote:
Well, I think we should all keep an open mind regarding the certification and its positive and negative aspects. I think its positive aspects greatly outweigh the negatives. But ignoring all criticism by thinking “they are just jealous of me” or seeking like-minded company who reinforce your current points of view simply creates an echo chamber.

Confirmation bias, anyone?

Simplify the complicated side; don't complify the simplicated side.

Financial Exam Help 123: The place to get help for the CFA® exams
http://financialexamhelp123.com/

Obviously I can only talk for myself but for me the program has been worth it, even if I never got the letters. 

If you're the first out the door, that's not called panicking