>if you had just appeared when you knew you had ample amount of preparation time. That is probably true. But I understand why he kept trying. Thing is, you never know. You could keep thinking, “next year I will have more time”, only to later realize you should have done it earlier. That’s life, isn’t it? He made a call and things did not go as he pictured. That happens to everybody, including analysts and money managers.
nogiveup, I am your clone from Level III. I have failed the L3 exam multiple times. I think this year was my 6th or 7th… I must have lost count. Anyway, someone in LIII once said that “passing Level 1 was the biggest mistake ever made because it motivates you to keep trying for the next levels”. As the exam gets harder and harder on all Levels over the years, the 'strength and discipline needed to pass becomes harder and harder". Looking back, I don’t know if I regret passing L1 or not, but I really missed the last 10 years of my life where I could have been more productive in helping the world (i.e. helping the poor) and enjoying my social life (i.e. starting a family). My memorial days were always spent on studying the cfa exams. I asked the derivatives traders what they think of the cfa exam and they said it is not needed. Then I asked myself how much time & money I spent over the last N years of my life to join this ‘not-for-profit’ organization. I still question whether cfai is a monopoly, because there is no competition. If I pass the L3, then I don’t know if I can adjust to it… Maybe I’ll try to the FRM or CFP exam… 
Anyway, continue on with ‘no giving up’ no matter if you need to take L2 six times and L3 another 6 times too. If you pass before you hit 65, I guess you can put the cfa initials on your gravestone. Either, congrats or no-congrats.
sh34 Wrote: ------------------------------------------------------- > I asked the derivatives traders what > they think of the cfa exam and they said it is not > needed. Then I asked myself how much time & money > I spent over the last N years of my life to join > this ‘not-for-profit’ organization. I still > question whether cfai is a monopoly, because there > is no competition. If I pass the L3, then I don’t > know if I can adjust to it… Maybe I’ll try to the > FRM or CFP exam… If you can’t see the competition that exists for the CFAI, perhaps brushing up on the economics section will help you pass the L3 exam. With the CFA, it only costs a few thousand bucks to get a graduate-level education in finance. Also…who are “the derivative traders,” and why does it matter what they think about the CFA?