This is where my mind is right now. Is this logical or delusional? Wait, don’t answer that. 1) The struggle I have no idea if I passed or failed 2) What does this mean? This is a ridiculous outcome and sad comment on CFA when someone spends 6 months, 500 hours and a couple of thousand bucks on an exam only to walk away unsure of the results. Is it possible that at the margin this goal that we spent many years trying to achieve just comes down to luck? Can’t be…right 2a) A sad truth? Maybe I am just a moron. If so, scratch 2-5 3) What to do next? In moments of panic, I start thinking about my gameplan for the 2nd try. I almost can’t fathom going thru it again. I truly gave it everything I had 4) If I had to try and try again… I do not think I would do a damn thing different. I worked my butt off, covered all the angles, took every test, used CFA and Schweser etc etc. 5) The conclusion If I wouldn’t do anything different and if the test is about skill and not luck, I must’ve passed and so must many of us. There is no other option…well , maybe one other. I hope everyone is enjoying their summer. I am starting to see the light at the end of this long, dark tunnel. Aldo PS At least if we fail, the financial services industry is rock solid and there will be plenty of jobs to go around.
I agree. The test is 50% luck, 30% preparation, 20% skill.
If we failed we write again, simple as that. As hard as that is to swallow, we have gotten this far, so there really is no other choice, we MUST write again. Imagine an olympic athlete who trains for 3.5 years for the big race and they pull their hamstring in qualifying and have to pull out. 3.5 years wasted and has to wait another 4 years to race again. this is nothing in comparison to having to wait 6 months ( assuming you start again in January to study) So Take it EASE !!!
i’d say more like 50% preperation, 35% skill, and 15% luck, but whatever. I too can’t imagine studying for this sucker again. it’s hard to imagine i’ll be better prepared the next time around so why bother retaking?
oskigo Wrote: ------------------------------------------------------- > I too can’t imagine studying for this sucker > again. it’s hard to imagine i’ll be better > prepared the next time around so why bother > retaking? Completely agree, especially after I put in over 600 hours. I know 2 people who have quit after failing level 3. One is a successful prop trader, the other is an analyst and his boss doesn’t push him to complete the program.
exactly oskigo of course we would probably all take it again but who is to say that the results will be different? the definition of insanity is doing the same thing over and over again and expecting different results. Einstein could’ve just said: “Insanity is taking the CFA” All that being said…we made it thru. i just know it!
I felt that there was a ton of material that is difficult to absorb and master. If I have to take it again next year, it will still be challenging, but at least 70% of the material will be review, unlike this time around. So I think it will be easier for me/us next year, even if the exam itself is just as hard.
Guys 2008 was my third attempt at L3 and I can tell you from experience that after failing you feel like you can’t do it again, and there’s nothing as depressing as seeing that “FAIL” next to your name… but at the end of the day you have to attempt it again. It’s like studying a medical degree and dropping out in the final year! It means noting until you pass the final exam 
Just hang in there guys and hope for the best… no point in stressing until 19 Aug!
>>>>>Imagine an olympic athlete who trains for 3.5 years for the big race and they pull their hamstring in qualifying and have to pull out. 3.5 years wasted and has to wait another 4 years to race again. this is nothing in comparison to having to wait 6 months ( assuming you start again in January to study) So Take it EASE !!! ------------------- I like that analogy IH8FSA !!
“This is a ridiculous outcome and sad comment on CFA when someone spends 6 months, 500 hours and a couple of thousand bucks on an exam only to walk away unsure of the results.” It is a ridiculous outcome and sad comment on the financial markets when someone can spend 80 hours a week 50 weeks a year and tens of thousands of dollars of his company’s resources and still walk away unsure of whether the trades he has on in his portfolio will outperform the market or not.