New York, NY (PRWEB) December 7, 2005
Mike Onghai, a value-oriented portfolio manager at Ibis Management, LLC in New York, NY, has earned the prestigious Chartered Financial Analyst® (CFA®) designation.
The CFA charter is the only globally recognized credential for investment analysis and management. The CFA program sets a globally recognized standard for measuring the competence and integrity of financial analysts, portfolio managers and investment advisers. Currently, more than 64,000 investment professionals in 114 nations and territories hold the CFA charter.
Recipients of the CFA charter have successfully completed a graduate-level, self-study curriculum and series of three intensive examinations taken sequentially over at least two years. Preparation for the three exams typically requires at least 750 combined hours of study.
Since the inception of the CFA program 42 years ago, pass rates at each of the three exam levels have averaged about 50 percent. Because of the rigor of the program, only about one in five candidates who enter the program pass all three exams and successfully complete all the requirements to earn the charter.
Administered exclusively in English, the international language of business, the three, six-hour exams cover ethical and professional standards, securities analysis and valuation, financial statement analysis, quantitative methods, economics, corporate finance, portfolio management and performance measurement.
Onghai has worked in the financial industry for 5 years. A graduate of University of California at Los Angeles, Onghai began his financial career at Ticker/123Jump as a co-founder in New York, NY, in 2000. He then joined Ibis Management, a value-oriented/spinoffs/special situations investment partnership, in 2003 as a research analyst. He was promoted to portfolio manager in 2005. Ibis is scheduled to launch an Asia fund in 2006 and Onghai will be the lead manager for the fund.
The Chartered Financial Analyst program is administered worldwide by CFA Institute, a non-profit professional association with offices in Virginia, New York, London and Hong Kong.
Robert R. Johnson, Ph.D., CFA, managing director for the CFA Program Division, explained what motivates candidates to make such a significant investment of their time and energy to seek to earn the CFA designation.
“For more than 40 years, candidates have sought to earn the CFA charter for two chief reasons,” Johnson said, “one, to expand and test their knowledge of current practice across a broad range of investment topics, and two, to demonstrate to clients, employers and peers their mastery of a demanding body of knowledge."
About CFA Institute:
CFA Institute is the global, non-profit professional association that administers the CFA curriculum and examination program worldwide and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 77,000 members in 120 countries. Its membership includes the world’s 64,000 CFA charterholders, as well as 131 affiliated professional societies in 52 countries. CFA Institute is headquartered in Charlottesville, Va., with additional offices in London and Hong Kong. More information may be found at http://www.cfainstitute.org or by calling 1-800-247-8132 or 1-434-951-5499.