For those of you taking the Level I CFA exam this weekend

You’ve come through the most trying, chaotic study period in the history of the CFA exam. Many of you were preparing for June when the exam was taken from you. Now you’re prepared for December, while many of your friends, colleagues, and fellow candidates have had their exam taken from them, again, some as recently as yesterday.

You’ve endured a lot to get here and you’ve made it this far. Congratulations!

Unfortunately, some of you will not pass the exam this weekend; it’s a cold, sober fact.

If you’re one of those candidates, you’ll be upset, angry, frustrated, dejected. We all understand that, and we’ll all sympathize with you. If you’re one of those candidates, please remember this: it’s only a stupid exam, and you’ll have an opportunity to retake it.

Millions of people lost their lives to COVID this year. Millions more lost loved ones: wives, husbands, mothers, fathers, sisters, brothers, children, friends, coworkers. Millions more lost jobs, savings, homes.

Please put this in perspective. It’s just a stupid exam.

I wish all of you the best of luck, and the ability to persevere no matter what happens this weekend.