Friday, July 8, 2011
Download our new Android App
Saturday, July 2, 2011
Thursday, June 30, 2011
Monday, June 20, 2011
50 WAYS TO FAIL AN EXAM
1. Bring a pillow. Fall asleep (or pretend to) until the last 15 minutes. Wake up, say "oh gee, better get cracking," and scribble furiously. Turn it in a few minutes early.
2. Get a copy of the exam, run out screaming "Andre, Andre, I've got the secret documents!"
3. If it is a math or science exam, answer in essay form. If it is long answer or essay exam, answer with numbers and symbols. Be creative. Use the integral symbol.
4. Make paper airplanes out of the exam. Aim them at the instructor's left nostril.
5. Talk the entire way through the exam. Read the questions aloud and debate your answers with yourself out loud. If asked to stop, yell out sarcastically, "I'm so sure you can hear me thinking." Then start talking about what a jerk the instructor is.
6. Bring cheerleaders.
7. Walk in, get the exam, and sit down. About five minutes into the exam, loudly say to the instructor, "I don't understand any of this. I've been to every lecture this semester! What's the deal? And who are you? Where's the regular guy?"
8. Bring a video game. Play with the volume at max level.
9. On the answer sheet find a new, interesting way to refuse to answer every question. For example, write "I refuse to answer this question on the grounds that it conflicts with my religious beliefs". Be creative.
10. Bring pets.
11. Run into the exam room looking about frantically. Breathe a sigh of relief. Go to the instructor and say "They've found me, I have to leave the country" and run off.
12. Fifteen minutes into the exam, stand up, rip up all the papers into very small pieces, throw them into the air and yell out "Merry Christmas." If you're really daring, ask for another copy of the exam. Say you lost the first one. Repeat this process every fifteen minutes.
13. Do the exam with crayons, paint, or fluorescent markers.
14. Come into the exam wearing slippers, a bathrobe, a towel on your head, and nothing else.
15. Come down with a bad case of Turet's Syndrome during the exam. Be as vulgar as possible.
16. Complete the entire exam in another language. If you don't know one, make one up! For maths or science exams, try using Roman numerals.
17. Bring things to throw at the instructor when she or he is not looking. Blame it on the person nearest to you.
18. As soon as the instructor hands you the exam, eat it.
19. Walk into the exam with an entourage. Claim you are going to be taping your next video during the exam. Try to get the instructor to let them stay. Tell the instructor to expect a percentage of the profits if they are allowed to stay.
20. Every five minutes, stand up, collect all your things, move to another seat, and continue with the exam.
21. Turn in the exam approximately 30 minutes in. As you walk out, start commenting on how easy it was.
22. Do the entire exam as if it was multiple choice and true/false. If it is a multiple choice exam, spell out interesting things (DCCAB. BABE. etc..).
23. Bring a black marker. Return the exam with all questions and answers completely blacked out.
24. Get the exam. Twenty minutes into it, throw your papers down violently, swear loudly and walk out triumphantly.
25. Arrange a protest before the exam starts. You could threaten the instructor that whether or not everyone's done, they are all leaving after one hour to go drink.
26. At some point during the exam, start crying for mommy.
27. Every now and then, clap twice rapidly. If the instructor asks why, tell him or her in a very derogatory tone, "the light bulb that goes on above my head when I get an idea is hooked up to a clapper."
28. Comment on how sexy the instructor is looking that day.
29. Come to the exam wearing a black cloak. After about 30 minutes, put on a white mask and start yelling "I'm here, the phantom of the opera," until they drag you away.
30. Go to an exam for a class you have no clue about, where you know the class is very small, and the instructor would recognize you if you belonged. Claim that you have been to every lecture. Fight for your right to take the exam.
31. Upon receiving the exam, look it over. While laughing loudly, say "you don't really expect me to waste my time on this drivel? 'Days of our Lives' is on!"
32. Bring a water pistol with you. Enough said.
33. From the moment the exam begins, hum the theme to 'Jeopardy'. Ignore the instructor's requests for you to stop. When they finally get you to leave one way or another, begin whistling the theme to 'The Bridge on the River Kwai'.
34. Start a brawl in the middle of the exam.
35. If the exam is maths or science related, make up the longest proofs you could possibly think of. Work PI and imaginary numbers into most equations. If it is a written exam, relate everything to your own life story.
36. Come in wearing a full knight's outfit, complete with sword and shield.
37. Bring a friend to give you a back massage the entire way through the exam. Insist this person is needed, because you have bad circulation.
38. Bring cheat sheets from another class (make sure this is obvious... like history notes for a calculus exam) and staple them to the exam, with the comment "Please use the attached notes for references as you see fit."
39. When you walk in, complain about the heat. Strip.
40. After you get the exam, call the instructor over, point to any question, ask him or her to work it out for you.
41. Wrestlemania.
42. Bring balloons, blow them up, and start throwing them around like they do before concerts start.
43. Try to get people in the room to do the Mexican wave.
44. Play frisbee with a friend at the other side of the room.
45. Bring some large, cumbersome, ugly idol. Put it right next to you. Pray to it often. Consider a small sacrifice.
46. Get deliveries of candy, flowers, balloons, and telegrams sent to you every few minutes throughout the exam.
47. During the exam, take apart everything around you. This includes desks, chairs, and anything you can reach.
48. Complete the exam with everything you write being backwards at a 90 degree angle.
49. Bring a musical instrument with you and play various tunes. If you are asked to stop, claim "it helps me think." Bring a copy of the student handbook with you, challenging the instructor to find the section on musical instruments during finals. Don't forget to use the phrase "Told you so".
50. Answer the exam with the "Top Ten Reasons Why Professor (name) Sucks."
Friday, June 17, 2011
Why Leaders Lose Their Way ???
In recent months several high-level leaders have mysteriously lost their way. Dominique Strauss-Kahn, former head of the International Monetary Fund and a leading French politician, was arraigned on charges of sexual assault. Before that David Sokol, rumored to be Warren Buffett's successor, was forced to resign for trading in Lubrizol stock prior to recommending that Berkshire Hathaway purchase the company. Examples abound of other recent failures:
- Hewlett-Packard CEO Mark Hurd resigned for submitting false expense reports concerning his relationship with a contractor.
- US Senator John Ensign (R-NV) resigned after covering up an extramarital affair with monetary payoffs.
- Lee B. Farkas, former chairman of giant mortgage lender Taylor, Bean & Whitaker, in April was found guilty for his role in one of the largest bank fraud schemes in American history.
These talented leaders were highly successful in their respective fields and at the peak of their careers. This makes their behavior especially perplexing, raising questions about what caused them to lose their way:
- Why do leaders known for integrity and leadership engage in unethical activities?
- Why do they risk great careers and unblemished reputations for such ephemeral gains?
- Do they think they won't get caught or believe their elevated status puts them above the law?
- Was this the first time they did something inappropriate, or have they been on the slippery slope for years?
In these ongoing revelations, the media, politicians, and the general public frequently characterize these leaders as bad people, even calling them evil. Simplistic notions of good and bad only cloud our understanding of why good leaders lose their way, and how this could happen to any of us.
Leaders who lose their way are not necessarily bad people; rather, they lose their moral bearings, often yielding to seductions in their paths. Very few people go into leadership roles to cheat or do evil, yet we all have the capacity for actions we deeply regret unless we stay grounded.
Self-reflection: a path to leadership development
Before anyone takes on a leadership role, they should ask themselves, "Why do I want to lead?" and "What's the purpose of my leadership?" These questions are simple to ask, but finding the real answers may take decades. If the honest answers are power, prestige, and money, leaders are at risk of relying on external gratification for fulfillment. There is nothing wrong with desiring these outward symbols as long as they are combined with a deeper desire to serve something greater than oneself.
Leaders whose goal is the quest for power over others, unlimited wealth, or the fame that comes with success tend to look to others to gain satisfaction, and often appear self-centered and egotistical. They start to believe their own press. As leaders of institutions, they eventually believe the institution cannot succeed without them.
The leadership trap
While most people value fair compensation for their accomplishments, few leaders start out seeking only money, power, and prestige. Along the way, the rewards—bonus checks, newspaper articles, perks, and stock appreciation—fuel increasing desires for more.
This creates a deep desire to keep it going, often driven by desires to overcome narcissistic wounds from childhood. Many times, this desire is so strong that leaders breach the ethical standards that previously governed their conduct, which can be bizarre and even illegal.
As Novartis chairman Daniel Vasella (HBS PMD 57) told Fortune magazine, "for many of us the idea of being a successful manager—leading the company from peak to peak, delivering the goods quarter by quarter—is an intoxicating one. It is a pattern of celebration leading to belief, leading to distortion. When you achieve good results… you are typically celebrated, and you begin to believe that the figure at the center of all that champagne-toasting is yourself."
When leaders focus on external gratification instead of inner satisfaction, they lose their grounding. Often they reject the honest critic who speaks truth to power. Instead, they surround themselves with sycophants who tell them what they want to hear. Over time, they are unable to engage in honest dialogue; others learn not to confront them with reality.
The dark side of leadership
Many leaders get to the top by imposing their will on others, even destroying people standing in their way. When they reach the top, they may be paranoid that others are trying to knock them off their pedestal. Sometimes they develop an impostor complex, caused by deep insecurities that they aren't good enough and may be unmasked.
To prove they aren't impostors, they drive so hard for perfection that they are incapable of acknowledging their failures. When confronted by them, they convince themselves and others that these problems are neither their fault nor their responsibility. Or they look for scapegoats to blame for their problems. Using their power, charisma, and communications skills, they force people to accept these distortions, causing entire organizations to lose touch with reality.
At this stage leaders are vulnerable to making big mistakes, such as violating the law or putting their organizations' existence at risk. Their distortions convince them they are doing nothing wrong, or they rationalize that their deviations are acceptable to achieve a greater good.
During the financial crisis, Lehman CEO Richard Fuld refused to recognize that Lehman was undercapitalized. His denial turned balance sheet misjudgments into catastrophe for the entire financial system. Fuld persistently rejected advice to seek added capital, deluding himself into thinking the federal government would bail him out. When the crisis hit, he had run out of options other than bankruptcy.
It's lonely at the top, because leaders know they are ultimately responsible for the lives and fortunes of people. If they fail, many get deeply hurt. They often deny the burdens and loneliness, becoming incapable of facing reality. They shut down their inner voice, because it is too painful to confront or even acknowledge; it may, however, appear in their dreams as they try to resolve conflicts rustling around inside their heads.
Meanwhile, their work lives and personal lives get out of balance. They lose touch with those closest to them̬their spouses, children, and best friends—or co-opt them with their points of view. Eventually, they lose their capacity to think logically about important issues.
Values-centered leadership
Leading is high stress work. There is no way to avoid the constant challenges of being responsible for people, organizations, outcomes, and uncertainties in the environment. Leaders who move up have greater freedom to control their destinies, but also experience increased pressure and seduction.
Leaders can avoid these pitfalls by devoting themselves to personal development that cultivates their inner compass, or True North. This requires reframing their leadership from being heroes to beingservants of the people they lead. This process requires thought and introspection because many people get into leadership roles in response to their ego needs. It enables them to transition from seeking external gratification to finding internal satisfaction by making meaningful contributions through their leadership.
Maintaining their equilibrium amid this stress requires discipline. Some people practice meditation or yoga to relieve stress, while others find solace in prayer or taking long runs or walks. Still others find relief through laughter, music, television, sporting events, and reading. Their choices don't matter, as long as they relieve stress and enable them to think clearly about work and personal issues.
A system to support values-centered leadership
The reality is that people cannot stay grounded by themselves. Leaders depend on people closest to them to stay centered. They should seek out people who influence them in profound ways and stay connected to them. Often their spouse or partner knows them best. They aren't impressed by titles, prestige, or wealth accumulation; instead, they worry that these outward symbols may be causing the loss of authenticity.
Spouses and partners can't carry this entire burden though. We need mentors to advise us when facing difficult decisions. Reliable mentors are entirely honest and straight with us, defining reality and developing action plans.
In addition, intimate support groups like the True North Groups, with whom people can share their life experiences, hopes, fears, and challenges, are invaluable. Members of our True North Group aren't impressed by external success, but care enough about us as human beings and as leaders to confront us when we aren't being honest with ourselves.
As Senator Ensign told his fellow senators in a farewell speech in May, "When one takes a position of leadership, there is a very real danger of getting caught up in the hype surrounding that status … Surround yourselves with people who will be honest with you about how you really are and what you are becoming, and then make them promise to not hold back… from telling you the truth."
[This article has been reproduced with permission from Harvard Business School Working Knowledge, the online research journal of University of Harvard Business School http://hbswk.hbs.edu/.]
Monday, May 9, 2011
Sunday, May 8, 2011
CFA Exam Topic Area Weights
Topic Area | Level I | Level II | Level III |
Ethical and Professional Standards (total) | 15 | 10 | 10 |
Investment Tools (total) | 50 | 30-60 | 0 |
Corporate Finance | 8 | 5-15 | 0 |
Economics | 10 | 5-10 | 0 |
Financial Reporting and Analysis | 20 | 15-25 | 0 |
Quantitative Methods | 12 | 5-10 | 0 |
Asset Classes (total) | 30 | 35-75 | 35-45 |
Alternative Investments | 3 | 5-15 | 5-15 |
Derivatives | 5 | 5-15 | 5-15 |
Equity Investments | 10 | 20-30 | 5-15 |
Fixed Income | 12 | 5-15 | 10-20 |
Portfolio Management and Wealth Planning (total) | 5 | 5-15 | 45-55 |
Total | 100 | 100 | 100 |
Subscribe to:
Posts (Atom)