• 037 10/30/2015 Charlie Munger: Learning Machines
    For the uninitiated, there is a new book about Charlie Munger (Bershire Hathaway's Vice Chairman) titled Charlie Munger: The Complete Investor. The text concisely details the principles of value investing, and explores Munger's process. It may be repetitive if you have followed his career or read Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. But otherwise I would highly recommend it as an introduction to this great investor. 

    If you have an interest in investing it behooves you to learn as much as you can about this human. His thought process is truly extraordinary, and as he states, ever evolving:
    “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up, and boy, does that help, particularly when you have a long run ahead of you…. So if civilization can progress only with an advanced method of invention, you can progress only when you learn the method of learning. Nothing has served me better in my long life than continuous learning. I went through life constantly practicing (because if you don’t practice, you lose it) the multi-disciplinary approach and I can’t tell you what that’s done for me. It’s made life more fun, it’s made me more constructive, it’s made me more helpful to others, and it’s made me enormously rich. You name it, that attitude really helps.”
    Charlie Munger, USC Law School, 2007

  • 036 10/01/2015

    This particular tip has saved me a lot of time formatting Excel workbooks over the years. Unfortunately I did not learn it immediately, and I wish I had.

    This excerpt is taken from a longer video in the Excel for Models series. While all of the material in this series is intended for novice users, I plan to incorporate more advanced tricks and tips as the material progresses. Hopefully it will make the content more interesting.

    If you're wondering why the video uses the sentence "Too Cool to Do Drugs" you can watch the full video HERE

  • 035 09/15/2015 New Series: Excel for Models

    We are working on a series that will introduce Excel for the purpose of building financial models. The first three videos have been posted, and more will follow, but in the interim any feedback would be greatly appreciated.

    I am hoping to emulate the way that I learned to use Excel for this purpose: watching more senior investment bankers effortlessly build templates.

    I find this kind of observation valuable because it removes the mystery. When you see a financial model for the first time with so many links between cells it can be intimidating. Watching someone start with a blank Excel worksheet should provide some comfort that it's all quite simple.

    To access the videos use the link pictured at the top of the post. Or just click HERE.



Models are:
A) really boring
B) pretty sweet
C) super important
D) somewhat easy
E) kind of hard
F) fun
G) all of the above



*Answers a, b, c, d, e, f and g are all correct.