The CFA Aftermath

 I feel pretty good. I don't know whether I can equate my mood with passing the exam, but I felt more comfortable this year than I did last year during the six hours I was taking the exam. I was thankful for being in a cool, air-conditioned room because I had gotten only two hours sleep the night before; despite that, the adrenalin rush that stayed with me for most of the day got me through to the end. A few hours after the exam booklets had been collected and we were dismissed, I was more exhausted and mentally drained than I've been since...I can't remember when.

I wish I could go into detail about this question in equity or that question in quant, but as those of you who are familiar with the CFA Institute already know, I am prohibited from doing so. Disclosing anything about the content of the exam is a violation of the CFA Code and Standards (specifically Standard 7), so this post is a lot vaguer than it would have been otherwise.

I am a secretive person by nature (as I've been told by many friends and acquaintances through the years who have tried unsuccessfully to pry confidential information out of me), so I feel a certain kinship with the CFA Institute in this area. As a CFA candidate, I'm an extension of the Institute...and a reflection.

For the next seven weeks, until the results of the exam become known, I will do my best not to be too focused on whether I passed. I understand the material much better than I did last year. Regardless of what happens, I know this to be true. The longer I study the curriculum, the more I realize how many of the concepts in different study sessions are inter-connected. The present value of future cash flows. The capital asset pricing model and its variations. And so on.

So I hope that everyone in the WSO community who took any of the CFA exams over the weekend did well and passed.