Graham Smash, a CFA charterholder, was recently hired as a new mid-cap value Portfolio Manager for Picadillo Capital Management. Graham has several large institutional and high net-worth clients who he manages with an active mandate.
Last week, Graham had his IQ tested as part of a Friday night bar crawl where attendees took a 5 minute IQ test, had it graded and then wore a t-shirt around the bars bearing their score. Graham scored a horrifying 72 and faced the shame and ridicule of his friends and the ladies that night. Worried, the next week Graham went to his doctor who administered a proper and intensive IQ test. His result was an astounding 71, (oops, he meant 86 - fineeee hashtag). In need of a second opinion, he went to the leading IQ doctor of the land, took a battery of extensive tests and still scored a mere 70.6 (once again, oops, he meant 86.9). The doctors have confirmed his stupidity.
Graham returned to work knowing that, when it came to his research, analysis, and recommendations, he was trying his hardest - yet underlying all of it was just plain old slack-jawed yokel stupidity.
By continuing in his chosen profession, is Graham in violation of the CFA Institute’s Professional Standards?
Couple holes in your story. Number one, Graham Smash sounds more like a porn star than a CFA charterholder. But more importantly, someone with an IQ of ~70 is on the border of mental retardation. Google it.
Don’t think a “mentally challenged” person could survive the AM Session for Level III – even if he scored close to perfect in the afternoon. Making up stories of this nature is totally inappropriate. It’s lewd, lascivious, salacious, outrageous!
he might be “slow” (have to be careful with political correctness, it’s 2018 after all), but as long he’s using careful and diligent analysis, I think he should be fine. CFAI won’t do anything past private censure in fear of being labeled as an organization that promotes unequal opportunity employment.
natural selection will take its course soon or later and Graham would be out of the firm and later on, the industry, if he keeps making wrong recommendations or bets. unless, he turn out being a well-performing manager and then it’s time to reflect on the validity of the finance industry and markets.
