CFA program has a great reputation all around the world. Each year many students subscribe to the program looking for the title. We are talking about people not only from US but from many different countries.

Is the CFA program compatible with emerging economies and countries?.

That's a very difficult question to answer having a domestic perspective only. Everybody knows that markets are globally integrated, but differences persist between central and periphery markets.

In my opinion that situation doesn't mean that CFA is not useful for emerging markets citizens, but many things should be put into perspective. Some things are really impracticable in emerging markets due to severe limitations related with information and transactional costs.

Many emerging markets have grown at an extraordinary rate, trying to catch up with developed markets. Brazil is a great example of that. In 2000 less than 150 companies were listed there. Now, there are more than 500 companies listed. Besides we are expecting the largest Latin American emission shares of Petrobras Brazil for $ 40 billion.

From my point of view, growth will be exponential in developing markets in the coming years and we must be prepared for that.

If you want to succeed in international markets you must achieve your CFA title. It's a difficult way that you have to transit. You must be persistent.

Don't feel frustrated if you fail. That's happened to me at first, but I'll try again.