Luminous Logic

Welcome to the Occupation

Lumilog — Sat, 12 Nov 2011 12:38:53 +0000

Well I just flew in from Wall Street and boy are my arms tired! My wife and I made a brief trip up to NY / NJ so that I and the money manager I consult for could get some face time. My last visit just happened to coincide with the Flash Crash. I was [...]

Opportunity Cost

Lumilog — Sat, 29 Oct 2011 20:15:20 +0000

Yes, I re-registered for CFA Level III, though unlike in prior years I waited until the very last day before the first price increase deadline to do so! You saw me whip out the “fall down 10 times, get up 11″ attitude the day I found out I failed Level 3, but what you haven’t [...]

Perspective, Probability, and Price

Lumilog — Wed, 17 Aug 2011 19:21:21 +0000

Today I received this email from my 3rd party study material provider for Level III. My amygdala suggested I make a half-attempt to hide their info as my failure might reflect poorly on them, so I’ve complied. In reality, they provided me with more study material than I made time to use. The text in [...]

None Shall Pass

Lumilog — Tue, 16 Aug 2011 15:08:43 +0000

Ugh… Blanking out the actual test parts below, since we’re not supposed to reveal what was tested. If I didn’t know better, I’d say they confused my results with someone else’s. Some of the sections I scored highest in are my weakest areas?! And though I walk out of all CFA tests feeling pessimistic, I [...]

Engineers and the CFA Program

Lumilog — Sun, 31 Jul 2011 20:59:48 +0000

I occasionally get good questions via emails and comments that call for somewhat longer replies. It only recently dawned on me that these should be made into posts so that others can easily stumble across them. So here’s the first… July 17, 2011 at 5:47 am Hey Lumilog, I think i find myself in exactly [...]

Say Hallo to Summer

Lumilog — Mon, 06 Jun 2011 18:23:41 +0000

It is done. The Level III exam is over! This is usually the time of year I write and reflect on all the quirks and observations of the test-takers and test-proctors from exam day, but I’m leaving for Austria in less than 24 hours so I’ve got to make this one quick. A special thanks [...]

Finish Line?

Lumilog — Thu, 03 Mar 2011 20:29:49 +0000

Since the dawn of time, mankind has gazed upon the heavens and wondered… My time in the CFA program has reminded me very much of my (brief) stint as a PhD student, due to its associated qualifying exams. Any time away from work or class not spent studying is spent fretting about how you should [...]

Conan Barbarian, CFA

Lumilog — Tue, 12 Oct 2010 12:28:43 +0000

Conan! What is best in life? To crush your enemies, See them driven before you, And hear the lamentations of their women. Wrong! Lumi, what is best in life? To crush your fellow candidates, See them repeating exam levels below yours, And hear the lamentations of their spouses. That is good, that is good. …And [...]

A Thin Three

Lumilog — Sat, 07 Aug 2010 20:20:02 +0000

So the day after I found out I passed CFA Level 2, I signed up for the Level 3 exam. Unlike in previous years, you now have the option of getting the volumes in electronic format in addition to, or instead of, the normal paper study guides. I chose the paper with the thought that [...]

CFA Level II Results

Lumilog — Mon, 26 Jul 2010 15:40:16 +0000

Those three little words I’ve been longing to hear… LEVEL II: PASS And below is my breakdown. Pass rate for Level II this year was 39%.