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My first publication

Today it was officially announced that an article on timberland investments, on which I have been working with two colleagues for about three months will be published in the September issue of the Japanese Securities Analysts Journal (in Japanese). You will easily find my name on the announcement page, because it is the only one in katakana (the only foreign name).

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CFA Pass Rate

It is interesting to note that CFA pass rate has considerably declined over the years. It amounted to as much as 94% at the time of inception in 1963, and as little as 42% for the June exam of 2007. Of course, the total number of exam-takers has grown around 250 times, so these pass rates are not completely comparable, but the shift is considerable enough to show a clear trend. Is it the exam becoming more difficult, or the exam-takers are getting dumber? Let's just hope that I am one of the few lucky among the 42% when I receive my exam results in about two months... Original data is available at CFA Institute official site at the following URL: http://www.cfainstitute.org/cfaprog/pdf/candidate_results.pdf