And now I'm a Candidate for Level 2

I passed Level 1 of the CFA exam. Apparently hard work does pay off, at least in this instance. Or luck, its hard to separate the two sometimes methinks.

Of course, all passing Level 1 gets me is the opportunity to study for Level 2 for the next 10 months. My informal survey of my prep course classmates revealed a 50% pass rate (5 out of 10), which is only slightly better than the 43% pass rate overall. Did the class help? It certainly was nice to have software to do problems as well as being "forced" to go to class once a week.

And I need to double check my Ethics & Standards to ensure I'm referring to my status as a Level 2 Candidate correctly.

Too Many Lawyers

There have been quite a few stories lately about how recent law school grads can't find a job - isn't this just (over) supply and (lack of) demand? Shouldn't that mean the price for a lawyer should drop? We'll see how that works out.

One of the more interesting solutions has been grade inflation at law schools. At what point do you admit defeat? What kind of world would we live if people said,"You know, I'm not sure what I'm going to do with my life, so I'm going to get a master's in engineering." I'm pretty sure a bunch of inexperienced, arrogant 26 year-olds with engineering degrees is going to make for at least a marginally better world than the same group with law degrees. The engineers could just make a bunch of pointlessly over-designed products that no one would ever purchase instead of filing frivolous lawsuits.