A year ago C. D. Graham Jr. [1] reviewed the behavior and applications of ferromagnetic glasses. This paper will discuss the progress made since that time by a number of investigators in various laboratories. Substantial effort has been directed towards the study of the dynamic properties of these alloys. The dynamic properties examined include the complex permeability and the coercive force as a function of frequency, the rapid flux reversal time as a function of applied field, and the damping associated with domain wall motion. Essentially all of the dynamic properties can be understood by considering the ferromagnetic glasses to be just soft magnetic materials with a resistivity about three times that of permalloy. The details of the domain structure in the two materials differ, but not in a substantial or fundamental way. Because the glassy alloys are in general not isotropic, their domain structure in determined by a local anisotropy which arises due to strain or ’’pair ordering’’.