CFA Level 3 preparations

Even though I have no time even to breathe, yet this post was necessary, only to maintain the trend. It is now only 4 days to the big big day. CFA Level 3. Phewww!!!

As there have been a lots of developments in my life over the last 3 months, a planning was very much necessary. As mentioned in one of my previous posts that I am a very strict planner, I planned about all these upcoming activities in my life before taking the plunge. It was something like this:

Quit The Smart Cube even having no alternate offer in hand, nor any converts. It was just a gamble.
Based on this, I valued the options:

• If I convert any of my 5 calls, I will go and do MBA. That would also leave me with much time for CFA L3 preparations if I quit TSC (in March).
• If I clear CFA as well as have a convert, nothing can beat this.
• If I could not convert any of the calls (it seemed improbable that time), I will concentrate and work hard on clearing CFA L3, which is obviously a great qualification in hand. Simultaneously, I would be searching the job based on L2 and candidature in L3.
• If I converted any call, but failed to clear CFA L3, well, no problems. Another attempt at CFA is quite justified.
• Lastly, if I failed to convert any call and failed to clear CFA.. well, as I said it was a gamble and this was the risk involved.

Now as time passed, there were many many ups and downs. When you plan, you use your brains. But many a times fail to account for the emotions involved with each outcome in your plan. That is what happened. I planned using all my knowledge and foresight, I did not account for my situation when I failed to convert any call or could not get a job. This would, obviously, directly have impacted my preparations for CFA. In that case, I would have straight-forwardly landed on the point 4 above. And this is exactly what happened with the 3 straight rejects one after the other. The day I got rejected from IIM - A, I just could not concentrate on CFA till the day (9th May) I converted IIM - I. But then, the after-effects of converting, the anxiety before an anticipation of the result, etc. left me with no energy and concentration to prepare for CFA.

However, I tried hard. Tried to study daily for 12-14 hours, although finally managing for just 8 hours seemed insufficient. Now, I am just 3 days away. Day after tomorrow, I will be leaving for Delhi. My preparation level, according to me, is just average. Level 3 has this essay-types questions, which are giving me heart breaks. I am not able to formulate my answers, even though I know the method or the correct one. CFA Institutes needs exact words as they would like. Ufff !!!

L1 ad L2 were easier in this way. Multiple choice questions are always an engineer's paradise. We see the options and try to get one of them. But this can't be done with the essay-type questions. This time I couldn't even touch Schweser Pro, which was my only savior in last moment preparations last year for L2. I have been solving test papers now for the last 2 days, and the marks are just quite okay, not too great.

The only positive thing, as of now, is that there is no pressure. I have to spend next 2 years at IIM-I, and that makes my life secure. CFA L3 can be again given any time, even after I pass out from IIM or even after, say, 5-6 years, when I will be all set in my job. Nevertheless, the tag of clearing all three levels in the first attempt is tempting. Let's see what happens.

No end to my desires

It is said - "there is no limit to desires"; in Hindi - "jitna mil jaye utna kam hai"
and that is what exactly I am feeling now.

I know this is absurd to even think about it. One needs to be satisfied with what one gets, but mind goes beyond control many a times; this is the reason we are ordinary humans, not sages and Gods. I maintain this blog to pour out my real feelings here, and this is what I am going to do now.

Well, now that I have the IIM Indore offer letter, the only offer I got, I started actively participating in discussions on the forum of IIM Indore converts on Facebook. I made many friends and was really excited to meet them up in the campus. Recently. there started the waitlist movement of other colleges. Within a few days, my wall was filled with stuff like - "It's IIM-B", "IIM-L converted", "IIM-C, I am coming", etc.

Majority of my future batchmates and friends have already made their way to the 'superior' IIMs. Indore, no doubt, is fast catching the big league of ABC(L), but it still has to do a lot of catching. I am proud I have converted an "old" IIM but as I said, that feeling of wanting more and more. Now, after wasting huge amount of time in ruing IIM-A reject and getting over it, I am again back to the square one. Why couldn't I convert A? Why didn't I get the Lucknow call?

Okay, I agree my percentile was not too great to even have a call from IIM-A. At 99.12, you don't really expect the best B-School in India to even consider you. But I was called, and sent back. Okay, B and C, I really didn't stand a chance. But how the hell I missed out on Lucknow? I know people with less than my percentile getting an IIM-L call and converted - in the 2nd list or in the 3rd. And hence, many of them are leaving Indore and moving to Lucknow. Weird criteria.

Then I thought, how awesome it would have been had I got into IIM Lucknow. My hometown. Papa mummy just 8 km away. Each weekend I could see them, probably could come home on alternative weekends. As it is Lucknow has just one awesome thing to boast about, and alas, I could not make it there.

Nevertheless, destiny has already been scripted, and for me, God has scripted an awesome one. 6 months before, I didn't even expect to get into any IIM or even do another MBA. Those were just khyali pulao. 

So.. I guess it is time I go back to CFA preparations :)

IIM Indore converted

Wow!! Such a relaxing feeling. Some interviews go great (IIMA), some go funny (IIMI). But what is so great in the script written by the God is, you never know what is in store for you. After such an aweful and heart-broken 4 weeks, finally got the good news today.

I re-read the last few posts, and now thinking it was so premature to blame yourself or your luck, when God is always there to take care of things. Now I feel, 4 rejections were necessary. They helped me to bring myself to reality. After clearing 2 levels of CFA, The Smart Cube interview, CAT with 99+ without too much of studies, I just thought Vaibhav Jain can not fail. I won't call it an arrogance, but I might be very near to it if I had cleared IIMA. This was the God's way of making me keep my foot on the ground (which ofcourse is my only ambition in life - howsoever successful, I will be always humble).

Now, that there is no tension for finding a job for myself, I can concentrate on CFA L3. How good it will be when I might be CFA all levels cleared even before the pre-placement interviews.

I take this occasion to rewind my life back and see what all I passed through and who all helped me to reach here.

Swati Parikh: It all began here. It was when I was worried about my career, and as I always had highest of aspirations, you told me that brand is very much necessary and advised me to write CAT. You had been my source of inspiration right till the day I gave my CAT exam.

Arunesh: My brother. Coined the term "exam-o-denia" as a disease which I have, giving all the possible exams in the world. But... it can only be 1 in a million to get such a wonderful friend in life. yoiur family never appeared 'your'. It was equally mine. Without you, bhai, it wasn't possible. :)

Anjali: My sweetest sis. In every moment I required support, I was counselled. Whenever I talked to her, it appeared that even my failure was in my favor. Love you........ ab bataa kitne pese daalne hain account me? :P

Geetika: Lots of ups and downs, but happens in friendship. You have always been there when ever I needed or not needed you. The best thing to happen at TSC in my last days. I remember you casually said you were getting vibes that I will make in Indore. And see, you were right. You, yourself have been one of the most intelligent girls I have ever met, and I learnt a lot from you. And yes, thanks for being there in the last few days. Anyone else would have been turned my enemy. But it is all over now. Good days are back again :)

Vikrant: Actually, I always feel nice talking to you. You always have such nice and encouraging words for me. "you have the best profile, you are this, you are that" eventually I know I am not at all what you think, but it motivated me to reach there. You have been very supportive Vicky.

Sakshi (Bhargava): Sorry to use your sirname, but you see, like Vaibhav, there are lot of Sakshi. Hehe. After my result, it was you, you and you. I remember how down I was with my IIMA result and then came you. Found so much relaxation. Thank you :)

You all have been there during my complete journey, right from day 1. There are many and infact all, who say, "don't worry, everything will be good" type of things. But it was from you all that I really found comfort. Thanks a lot to all of you.

PS: No time for partying, CFA is there :)

Why do I hate IPL

IPL, the Indian Premier League, commenced with its first season in 2008, amidst the hype and the controversies. Well, putting simply, its the latest version of cricket: cricket + glamour.

People in favor of IPL say that it has added the entertainment factor to cricket. Oh please!! Cricket has always been entertaining, even Test Cricket. That just depends on 'what' you want to see.

Why do I hate IPL? For almost every damn reason, except for these two:
1. Sir Sachin plays in it
2. I get to see Dada taking the field again

To make the argument serious, I hate the inclusion of glamour (read: girls) to IPL. Those who favor, say that it has added viewership to the dying cricket fraternity. It has brought women closer to the game and thus, increasing the cricket's popularity.
But, it has taken away the sheen of the game.

I just hate girls watching cricket. I am not a male chauvinist, but I dislike the reason they watch this, now adulterated, game of cricket. They love Virat Kohli, not because he plays well, but because he looks handsome. Girls, bollywood and modeling is there for you. Please leave cricket for the real fans.

They love bollywood actors/actresses visiting the stadia. "Wow, Juhi Chawla had come to see the match." "Oh my God, I saw SRK today." They love the big slog sixes, but they don't appreciate the technical batting of Rahul Dravid, Jack Kallis and ofcourse, the Master. They don't like Manoj Tiwari or Ajinkya Rahane, who are superb future stars, just because they are not handsome.

I hate the cheerleaders. What the hell is their requirement in a game of cricket? Dancing vulgarly when Sir gets out or an XYZ player hits a six on our national pride Zaheer!! They have just been programmed to shake their asses when a/b/c/d happens. What is their need in Extra Innings, welcoming viewers from break by showing their asses and other assets? Can't the discussion just begin by the host welcoming us? Just to add glamour, the organizers have diluted the brand of cricket.

Most of the girls won't be knowing the technicalities of the game. What is a chinaman, or a googly, or a silly point or a forward short leg. Yet, laggy lasses like Archana Vijaya or Miss Dandekar (forgot the name) interview stars like Sunil Gavaskar, asking him how will the pitch behave? My God, does she even understand what Sunny might have answered? Obviously not, because instead of a cross question, the next question would be totally out of the context. I want to know what would be the problem if people like Charu Sharma or any other former cricketer is roped in for this task?

I hate the fact that cricketers have been 'sold'. But that's okay. That's what Premier Leagues are meant to be, but I just don't like when bunch of cricket-illiterates like Zinta, Nita Ambani or Gayatri Reddy 'buying' Yuvraj, Dada or Sachin Sir.

Girls, you have almost entered in every field dominated by men, be it wearing pants, riding bikes, flying airplanes, etc. I am not at all against it. But please leave cricket to men. Not because I am male chauvinist again, but because I HATE the reasons you watch cricket. If you really love the game, please try to watch a Test Cricket and understand.

I also hate IPL because it has killed the excitement of cricket matches. I remember the time I was too young when I waited so eagerly for an ODI involving India, that I had dreams of Sir Sachin marauding bowlers and making a century. I 'timed' my waking hours, so that I don't have to keep waiting for the match to start (day match) on a Sunday. It was like, the first think I did after getting up is seeing the toss. Waiting to see Sir Sachin and Dada open gave me goosebumps. I used to memorize schedules for almost next 3-4 months, and forthcoming series for almost next 2 years.

With the overflow of cricket (thanks to IPL), there is no excitement left. It is like, "today I feel like watching cricket. let's switch on the TV and see who are playing today". :O

There are many other reasons also, but I think the article has become much longer than I wanted. You see, emotions. I know, the time gone won't come back ever :(

Why all the hard work?

When things go against your plans and expectations, your outlook suddenly changes to negative. As I had already mentioned, days are not going fine. Although I am trying my level best to forget all the failures I suffered in the last one month, and concentrate on CFA Level 3, there are certain thoughts which prohibit from doing this.

There is a very good friend of mine. She once told me about her ex-boyfriend. I remembered the complete story, of how she was attracted towards him, his qualities, etc. This was about 3 years, when she narrated me her story. Matter closed. Fast forward, yesterday evening, I was chatting with yet another school friend of mine (not as good), and amidst the conversation I learnt that the same guy was her ex-bf too.

I remembered the guy's name, and searched for him on Facebook. He is a professional guitar player and has his own band. I searched for his videos on Youtube. Yes, he plays fabulously well. Looks are also good. Why will not a female attract towards him? As I remember from my friend, he is from a very very rich family. Totally alcoholic, like many band members. And I could also remember that both my friends were involved in physical relationship with him.

The guy has done engineering from an okay college, opted out of placements and formed his own band. Learnt that he has had about 15 physical relationships from a reliable source. Totally supported by his father's money, what does he need? And then I began comparing him with myself.

No financial back-up for me as such. I agree my father has never let me think that I can not afford anything whatever I want, yet as I grew up I realized things were not as my father had projected when I was young. It was just his love and sacrifice. I understood my responsibilities and decided to make him proud of me one day. I chose the line of education. I spend hours and hours studying, giving my best. The only things that are  currently associated with my life are studies, food and sleep. Days pass by, when I don't even step out of home (currently, jobless). This has taken a toll on my physical appearance, as lack of physical exercise has made me gain much weight. How many times I have thought to work on my body, but lack of time prohibits me to do so.

And then, one day I realize that giving something day in and day out, I finally achieve nothing but 5 rejections!!! My hard-work didn't pay and I am back to square one. I am aging and will one day have to give up trying on this, and finally earn money for my family to survive. Obviously after leading such a boring, loser life, why would I have a girl friend? Girls like bad boys, no one likes a studious, family boy today.

God is sometimes unfair. But then I realize, that I have got much more than many others in the world. Just think of them. What my problem is, I want to be the perfect one. I can't stand failures. I have not learnt to deal with failures in my life. If I have failed somewhere, those places are where I never even cared to pass. But that is not how life should be.

I am just fed-up of toiling so hard, when many of my dumb female friends and cousins just married an NRI and went to the US or UK. Few of my cousins and friends just did a normal B.A. or B.Com. from a pathetic university are earning more than a lakh rupees out of their jobs by illegal means (bribery, etc.). If it is only about money at the end of the day, why do I need to put in this extra effort? All these things demotivate me very much.

FMS Interview experience

Profile:

CAT - 99.12
Graduation - 5 year dual degree (B.Tech + MBA)
Others - CFA Level 2 cleared
FMS doesn't need any other details. 70% weightage is CAT Score, 10 for GD, 10 for Extempore and 10 for interview.


GD:
Topic: Good managers are good human beings
Number of Ppl present-11
Time:11+1(for jotting down the points)+1(for conclusion)

PI:
Panel Members Intro:P1(M),P2(M),P3(F) and Me
Questions:
P2. Your extempore topic is F1 Race Course
Me. Was pretty fine from my side, although I could have spoken more. Wasnt sure about details, so might have spoken 1-2 points wrong.

P2. What is the difference between Individualistic and Collectivistic culture?
Me.
P2. Never heard about them? okay, tell me the principles of a handshake
Me. your hand should be firm, straight.. with right hand.. etc etc
P2. Will there be any difference when you shake hands with a male and with a female?
Me. yes Sir, in case of a female, your hand should be slightly loose, tilted towards left and you should not be the first mover.. (this answer was equivalent to the extempore, made all these facts)
P2. Okay, but what does this signify?
Me. No idea, Sir
P2. Do you think eye-contact should be there?
Me. Yes Sir, it helps you build confidence, and grab the listener's attention
P2. Don't you think this is a sign of disrespect?
Me. Depends on how your eye-contact is
P2. DO you know how they talk in Korea? No eye-contact. So, doesn't that mean it is rude?
Me. that might depend on culture to coulture
P2. What did you do for the last 2 years?
Me. Told, about work-ex
P2. So, why do you want to do MBA?
Me. Spoke the rehearsed answer

P1. What all other calls do you have?
Me. Told
P1. What is the upper control limit formula for a p-chart? (I am not at all involved in this kind of work)
Me. I do not remeber Sir
P1. What is a Gantt chart?
Me. Sir, it is used in Project Management, for time scheduling of different tasks, etc
P1. Project Management? You are confusing PERT/CPM with Gantt
Me. Sir, I think all are Project Management tools, for different purposes
P1. What is a layout of a facility locator?
Me. What Sir?
P1. Never heard of a facility locator? There are 6 steps for the layout, tell me all.
Me. No idea, Sir
P1. No idea? Ok thank you, you may leave.

Ohhhh God!!! What an interview that was. Couldnt give even one proper convincing answer. But look at the questions.. I was so well prepared. No one is asking me anything related to Finance, even when I have cleared 2 Levels of CFA. Then, why ask academic/technical question to engineers related to their stream?

As expected, couldn't clear. Not even in the wait-list.

All I can say, it was just plain bad-luck. End of 2012 season.

And... I have failed

The last few days have been the worst for me in my entire life. It is something I would compare with my brief stay at Rewa in 2010, but that was struggle. This is heart-break, one after the other.

After being rejected from SP Jain, IIM- Ahmedabad resonated the same story. I had such high hopes from IIM-A, so reading the fate “Sorry, you are not selected” was kind of a minor heart attack. My outlook for life has always been pessimistic, so that when I get something, I feel happier, rather than what happened with IIM-A. I was so optimistic, for the first time in my life, that when it didn’t come true, I was left searching for the ground beneath my legs.

Rejection made one thing clear. I had to study very hard for FMS, and would have to convert this at any cost. As it is, I am not very hopeful with IIM-Indore after a dismal performance in the interview. Read lots and lots of news day and night right from 18^th April to 26^th April, revised Level 1 and 2 of CFA, completely mugged up the Indian and the world economy, rehearsed for extempore with about 60-70 topics, and what not. My preparation level was like, ask me any damn thing in Finance, and you will get an answer double to what your expectations might be.

A day before the FMS interview, IIT-Bombay declared their results, and as expected, I was rejected. It had to be, as this had been the worst of the lot. Disappointment was obviously there, but it was expected, so it was time to move on.

27^th April, which was once a very lucky day for me. I had got my first job offer’s formal letter. 27^th April became one of the nightmares for me this year. Come on, who in the world asks such kind of questions to a person with a profile like mine? I agree I have done this dual degree MBA, but why the hell do they not ask me ANYTHING related to Finance? Why the hell do they not seem impressed by my CFA Level 2 cleared tag?

I have heard big about CFA, but have never got the opportunity to realize it in reality. The Indian recruiters don’t seem impressed. The premier B-School panels don’t seem impressed either. It demotivates me to continue my vigor for Level 3.

Well, after that kind of performance, which broke the IIT-B record for the worst interview, I couldn’t have expected a selection. The results were out the same evening. FMS are pretty good at this. My name wasn’t in the list.

And now, with only IIM-Indore result pending, for which I have just a 0.01% hope, I am unemployed. Last 15 days I wasted on FMS preparation, and had left CFA. Now with just 30 days left, and course not at all on-course, I have to search a job also. This is going to be very very tough as I have to alter my schedule. The same schedule which has given me success for the last 2 years. I will have to sleep on time in night, and get up at around 9-10 am in the morning. Reason being, recruiters call during morning, and according to my success-proven schedule, I am asleep during that time.

There was another thought in my mind. Should I go for another attempt at CAT? CAT 2012? I don’t know. This time somehow I managed to get 99.12, when I wasn’t expecting at all. Who knows after a solid preparation, luck runs out and I land up way below this. History has proved this for many of my friends and cousins. I am yet to make up my mind on this, meanwhile it is just CFA. CFA for which I have quit from my job. Can’t handle a failure here.

Feelings before the BIG Result

I have been going through one of the most difficult times of my life ever.. umm.. anxious would be the better word here. Anxiety: IIM-A result would be out anytime soon, probably in 2-3 days time.

I agree, when I wrote CAT, it was all in fun. Of all 1,80,000 candidates who wrote the CAT, I bet more than 90% of them must have, if only once, hoped they crack IIM-A. Many of them might also be knowing that this is just a good feeling and they don't deserve it, bas MBA ho jaye achi jagah se. I was one amongst them.

Now when the scorecard read 99.12 percentile, I was shocked. I was thanking my luck, keeping any sort of arrogance at bay. Few hours later, I got the interview call from IIM-A, from nowhere. Come on, how can one expect an IIM-A call at 99.12. I have known so many cases where even 99.9 falls short. This time I got to know a case (source: pagalguy) that a candidate didn't get A's call at even 100 percentile. So mine was really a surprise.

I went through the criterion. It was in my favor, heavily. They want 80% throughout and give an extra weightage to post-graduate. I would have never dreamed that one day this JBS degree will help me. And this way?

Moving ahead of all the pride and happiness, I began my preparations for the Interview. Now that it is over and the date for the results is just knocking on the door, there have been various speculations from my side. What would take me in? What would keep me out? Even after more than a month's time, that interview room is still clear in my eyes. I don't remember the faces of the panel members, but I clearly remember the entire conversation. You can say it is because each day I have just thought and thought about it.

Can the 1.53 decimal to binary question keep me out? How would the professor had taken my 3 "no idea, sir; can't recollect, sir" responses in shaping my life? Was my neck-tie color really not matching my suit color (as pointed my mummy and Geetika)? Was my body language so bad that they would reject me? Would they feel my work-ex is shit and my decision to already do an MBA and come back to do another, prove to be the chance-destroyer?

And then I think: CFA Level 2 will definitely prove to be the turning point in my form. How can they neglect this? My interview also went quite okay, atleast I answered all the Finance questions properly (but have I really? I don't know). For all the questions where my response were "No idea, Sir", I just didn't give up before trying atleast. This should cast a positive effect. Then, my work-ex (whatever it might be), is kind of little different from regular engineers. SPSS coding and excel macros. And they want diversity. Hence, I have a greater chance.

Apart from all this, my mind is also forced to believe that it is all planned by God, and I take myself back to years. Getting around 90% in 10th and 12th, is some indication of a bright future. What made God to make me do that 5th year MBA, when he knew that it would be a very bad decision for my long term career? Why did I clear Level 2, after just studying 20 days? Might be this proves to be a turning factor. How did I even get 99.12 with this kind of preparations? And then, the criteron... favoring me big time. How on earth can I get A's call at 99.12? There might be a good plan of God. No IIM-B, C or L, but why only A. Rare it is, isn't it? Even my "janam-patri" says, this is a good time going for me (I don't believe in all this, but any favoring news, whatsoever, is just too pleasing to hear).

Lots of my friends and relatives are getting this feeling that I'll make through. Papa, Arunesh, Geetika, Vikrant, etc. etc. Might be they are just trying to motivate me, but Papa never says anything which he certainly doesn't feel. The greatest assurance I got, when he said, "mujhe lag raha hai tera Ahmedabad me hi hoga".

And above all, whenever someone asks me what I am feeling, I always replied its 50-50, or like - "mushkil hai, meri percentile kam hai". But in reality, I have already made my future plans as if I am through. Everyday hanging out on the IIMA website, looking at pictures, reading about life there, and so many things. I am imagining the reactions of my friends and family when I will tell them I have cleared it. Every thought going through my mind assumes that I am already a student of IIM-A. Geetika advised me once that if we keep on thinking of something, we will definitely get it. I was such a pessimist, but now turning towards optimism. Thanx Geetika.

But in case, I don't get through, I couldn't even gather the strength to face this bitter truth. Every dream will take a hit, and I will be back to square one. Just like, "so near, yet so far".

Result is still around 40 hours away, and I don't know how I will be killing time. Padhai bhi nahi ho pa rahi :(