Financial Modeler's Corner

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by Emilie Williams.

Emilie holds a Bachelor of Engineering (B.Eng.) in Mining, a Masters degree in (M.A.Sc.), Civil Engineering, a nd has earned her Level I and II FMI modeling certifications.

She has been bridging the gap between mine engineers, operations, finance, and management for more than 15 years. She has real-world, industry experience working on mine project strategies, diagnosing, and solving for factors that lead to project delays and inefficiencies, and creating best-practice tools and models to help her clients manage their operations, costs and realize their objectives.

Listen to this episode as Emilie shares: 

• Her journey from mine engineer to full-time financial model
• Her learnings from the worst models she has come across
• The unique challenges of modeling in the mining industry
• Her experience with competing in ESPN’s most recent Excel Battle
• The importance of practicing to be a better modeler
• Her position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more

Quotes:  

“ The dependencies on physical constraints are not always easy to model. ”

"[Attending an FMI Course was] the first time I realized that there was actually a way to do it and actually the structure of modeling was a real thing, as opposed to, let's just stick things in our Excel spreadsheet …”
  

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.  

Join Paul in Vegas for the FMI World Cup Championship from

December 7, 2023 - December 9, 2023 .

Sign up for the event today and receive 10% off by using the special code ‘FP&AGUY10’.Click on the link to register: Financial Modeling World Cup

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit. 

Follow Emilie Williams:     

LinkedIn - https://www.linkedin.com/in/emilie-williams-06582761/

Website - https://cvmconsultants.ca/

Follow Paul:

Website - https://www.thefpandaguy.com/   

LinkedIn - https://www.linkedin.com/in/thefpandaguy/  

Instagram - https://www.instagram.com/thefpandaguy/  

TikTok - https://www.tiktok.com/@thefpandaguy  

Twitter - https://twitter.com/TheFPandAGuy  

YouTube - https://www.youtube.com/@thefpaguy8376  

Follow Financial Modeler's Corner 

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Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984  

Special Episode

This week we are bringing you a unique episode.  This episode is a Breaking Into Finance podcast episode hosted by Craig Thompson featuring Paul Barnhurst. 

Show Notes from Breaking Into Finance

Last episode we teed up the topic of exit opportunities and the types of careers paths available to finance professionals. Today we're excited to be joined by Paul Barnhurst AKA The FP&A Guy, host of FP&A Today and Financial Modeler's Corner. Financial Planning & Analysis ("FP&A") drives the strategic finance function at corporates and is an increasingly popular next step for ex-bankers. Paul is a thought leader in the space who helps break down the FP&A role, the skills you need to be successful, and his thoughts on the future of financial modeling.

For more Breaking Into Finance Episodes click here

https://open.spotify.com/show/3KtwQ1mhwj7X0HKK7RyJHc?si=8e9eeeed0c18463f

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI)  the most respected accreditations in Financial Modeling globally. In this episode, Paul Barnhurst is joined by Rob Langrick.

Rob Langrick, CFA, CIPM, is the General Manager of the CFA Program. He was previously Head of Practice Analysis, overseeing annual curriculum updates to the CFA Program.

Before joining CFA Institute, he lead Bloomberg’s finance education division, where he built and launched Bloomberg’s certification product. He began his career as a sell-side equity research analyst in London and, after earning his MBA from Dartmouth worked in the private equity diligence unit of Bain & Company in New York.

List to this episode as Rob Shares:

• His learnings from the worst models he has seen in his career  
• His experience as an Equity Analyst
• The CFA Program and why they modified the program to include new content
• The value of FMI's financial modeling content to the new CFA Program
• The importance of learning about Financial Models

• His views on why financial models are one of if not the most important corporate decision making tool

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.  

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit. 

Quotes:   

“Often the best way to learn something is to teach it to others.”

“Modeling is just another branch of logic, reason and rationality.”

Follow Rob Langrick:    

• LinkedIn - https://www.linkedin.com/in/rob-langrick-cfa-cipm-b16736/

Follow Paul:

• Website - https://www.thefpandaguy.com/    
• LinkedIn - https://www.linkedin.com/in/thefpandaguy/
• Instagram - https://www.instagram.com/thefpandaguy/  
• TikTok - https://www.tiktok.com/@thefpandaguy
• Twitter - https://twitter.com/TheFPandAGuy 
• YouTube - https://www.youtube.com/@thefpaguy8376   

Follow Financial Modeler's Corner 

• LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true
• Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984   

In today’s episode:  

(00:22) Intro;

(00:48) Welcoming Rob;

(01:00) The worst financial model Rob has ever seen ;

(02:33) Rob’s key learning experience from the worst financial model ;

(04:20) Rob’s background;

(06:28) Rob’s experience as an Equity Analyst;

(08:53) What motivated Rob to move into Education;

(10:27) What lead Rob to join the CFA Institute;

(11:55) Roles Rob had at CFA;

(14:33 - 15:19) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(15:20) Changes to the Practical Skills Modules;

(16:43) People’s response to change;

(19:20) Changes apart from Practical Skills;

(22:22) The main benefit to Charter Holders;

(24:55) Experience with FMI;

(26:24) Why is it important for everyone in finance to learn the basics of financial modeling ;

(28:33) Rapid Fire;

(32:47) Advice to college students;

(34:27) Connect with Rob;

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by three distinguished modeling experts: Colin Human, David Thompson, and Prem Beejan.

Colin Human started out his financial career as a 22-year-old chartered accountant in South Africa. Today, he is the CEO of Goalfix and provides financial modeling consulting and training.

David Thompson is an independent financial consultant who provides expert financial modeling, financial planning & analysis, independent valuations, strategy, and corporate development services to both the public and private sectors.

Prem Beejan is the Chairman at Maubank Holdings LTD and the Co-founder of the Financial Modeling Centre in Mauritius. FMI recently awarded Prem the Master Financial Modeler, and he is one of only 6 people globally to be awarded the designation.

Listen to this episode as they share about: 

• How they got started in financial modeling
• Their experience and learning from the worst models that they came across 
• Financial modeling over the years and how it has changed.
• The various Modeling tools used by them
• The impact of Generative AI on Models
• The importance of Formal Accreditation
• Their position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit. 

Follow Colin Human:    

Website - https://goalfixglobal.com/staff/colin-human/

LinkedIn - https://www.linkedin.com/in/colin-human-b8072812/

Follow Prem Beejan:    

Website - https://www.fmcmauritius.com/

LinkedIn - https://www.linkedin.com/in/prem-beejan-msc-mfm-5a921025/

Follow David Thompson:    

Website - https://tghcorp.com.au/

LinkedIn - https://www.linkedin.com/in/strategy-finance-valuations-modelling/

Follow Paul Barnhurst:

Website - https://www.thefpandaguy.com/   

LinkedIn - https://www.linkedin.com/in/thefpandaguy/  

Instagram - https://www.instagram.com/thefpandaguy/  

TikTok - https://www.tiktok.com/@thefpandaguy  

Twitter - https://twitter.com/TheFPandAGuy  

YouTube - https://www.youtube.com/@thefpaguy8376  

Follow Financial Modeler's Corner 

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true  

Newsletter - Subscribe on LinkedIn https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984  

Quotes:   

“ Strategic thinking is really crucial for financial modelers as it allows them to create dynamic, adaptable, insightful models that can support a company's strategy and decision-making . ” - David

“ Unquantified strategy is just wishful thinking. It's as simple as that. ” - Colin  

“ I am not saying that we cannot build models in other tools , t here could be other tools to build financial models , b ut the best, the easiest, the most accepted, the way it's made, the presentation, the reporting , and everything, it's all Excel. ” - Prem

In today’s episode:  

(00:22) Intro;

(00:55) Welcoming the Guests - Colin, Prem and David;

(01:33) The worst financial model David has ever seen ;

(02:31) The worst financial model Colin has ever seen ;

(04:16) The worst financial model Prem has ever seen ;

(05:44) David’s key learning experience from the worst financial model ;

(06:23) Colin’s key learning experience from the worst financial model ;

(07:16) Prem’s key learning experience from the worst financial model ;

(08:00) David’s background;

(09:01) Colin’s background;

(10:51) Prem’s background;

(13:48) First Model Colin built;

(17:10) First Model David built;

(19:27) First Model Prem built;

(21:55) First Model Paul built;

(22:39) Changes seen over the years in Modeling ; 

(24:52) Tools used in Modeling;

(28:19 - 29:05) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(29:06) What kept David interested in Modeling;

(31:08) Prem’s take on the impact of Generative AI on Models;

(32:24) Colin’s take on the impact of Generative AI on Models;

(34:48) David’s take on the impact of Generative AI on Models;

(36:20) Important skills to be a great Financial Modeler - David;

(37:29) Important skills to be a great Financial Modeler - Colin;

(38:53) Important skills to be a great Financial Modeler - Prem;

(40:37) The need for Formal Accreditation’s;

(43:19) Why Prem decided to earn the designation of Master Financial Modeler;

(46:51) The importance of Strategic Thinking;

(49:41) Rapid Fire;

(56:42) Nugget on Financial Modeling from the renowned Guests;

(58:51) Connect with David, Prem and Colin;

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by Zainab Nwachuku , who is the Managing Director and the lead Financial Modeler of The Intellectual Plug which is a consulting firm in Nigeria that helps founders get ready for funding with investors.

Zainab is extremely passionate about financial modeling and hopes more women who are fond of numbers choose to join the profession.

Listen to this episode as Zainab shares: 

• Her journey from accounting to financial modeling
• Her experience and learnings from the worst models she has come across
• Her experience working with founders to help turn their ideas into a financial model that can help make their dreams a reality
• The horror story of linking workbooks in Excel
• Her unwavering passion for Modeling
• Her position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit. 

Quotes:  

“ I feel like you actually have to make those mistakes yourself to even get it to understand because otherwise, you know, how do you even know that o h, it's not a model ?”

“ Simply being able to actually build a financial model has really taught me a lot about communication. ”  

“ If you're not listening to the founder, whether or not they can implement some strategies i f you don't understand that from the founder, the model isn't going to make sense .”

Follow Zainab:    

Website - https://theintellectualplug.com/

LinkedIn -  https://www.linkedin.com/in/mszainababu/

Follow Paul:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

Twitter - https://twitter.com/TheFPandAGuy

YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true  

Newsletter - Subscribe on LinkedIn https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984  

Must follow LinkedIn Profiles:

Financial Modeling World Cup

https://www.linkedin.com/company/financial-modeling-world-cup/

Financial Modeling Institute

https://www.linkedin.com/company/fminstitute/

Chris Reilly

https://www.linkedin.com/in/chris-reilly-mission-capital/

Danielle Stein Fairhurst
https://www.linkedin.com/in/daniellesteinfairhurst/

Hedieh Kianyfard

https://www.linkedin.com/in/hediehkianyfard/

Lance Rubin

https://www.linkedin.com/in/financial-modelling/

Giles Male

https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:  

(00:22) Intro;

(00:51) Welcoming Zainab;

(01:06) The worst financial model Zainab has ever seen ;

(02:27) Zainab’s key learning experience from the worst financial model ;

(03:30) Zainab’s background;

(05:00) What is fun and challenging about Modeling;

(07:05) About the Financial Modeling Group for women; 

(09:50) Women in Modeling;

(11:17) About The Intellectual Plug;

(12:38) Common Company challenges; 

(14:21) Funding routes for Start-ups in Nigeria;

(16:10 - 16:57) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(16:58) What does Zainab love about working with these start-ups;

(18:36) Challenges Zainab faced to build a model for early stage companies;

(20:57) Advice on building models for early stage companies;

(24:16) Rapid Fire;

(28:07) Nugget on Financial Modeling;

(29:45) Connect with Zainab;

(30:30) Paul’s best picks

•  The way Zainab talks about terrible models.
• The way she communicates her journey of building models.
• The horror story of workbooks
• And her incredible passion for Modeling. 

(32:00) Rapid Fire: The Pattern So Far;

(35:18) Must Follow LinkedIn Profiles

(37:22) CPE Credit

(37:40) Outro

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI), the most respected accreditations in Financial Modeling globally.

In this episode, your host, Paul Barnhurst is joined by 4 fabulous guests, namely, Jeff Robson, Danielle Stein Fairhurst, Craig Hatmaker & Ian Schnoor. They are all highly accomplished and respected modelers in the Financial Modeling profession. In this episode they share thoughts on Dynamic Arrays and LAMBDAs.

Jeff is a Financial Modeler, Business Analyst, International Trainer & Presenter. Danielle is a Financial Modeler, Author, and Corporate Trainer based in Australia. Craig is a retired Financial Modeler and is a 5G (fifth generation) modeling enthusiast, and Ian is the Executive Director at the Financial Modeling Institute (FMI), which is also the sponsor of this Podcast.

Listen to this episode as the guests talk about:

• Why it is important to keep current on the latest developments in modeling
• LAMBDAs what they are and how they could revolutionize financial modeling
• Dynamic Arrays, what they are, how they work, and what it is like to build a model using Dynamic Arrays
• How Dynamic Arrays will make auditing models easier
• The guest's favorite Dynamic Array formulas

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit with this episode.

Follow Jeff Robson:

Linkedin: https://www.linkedin.com/in/jeffrobson/
Website: www.accessanalytic.com.au
YouTube: https://www.youtube.com/@AccessAnalytic

Follow Danielle Stein Fairhurst:

Linkedin: https://www.linkedin.com/in/daniellesteinfairhurst/
Website: https://plumsolutions.com.au/

Upcoming Events for Danielle Stein Fairhurst

• Danielle is speaking at the global excel summit - Global Excel Summit 2024 | Microsoft Excel Event | Welcome

• Upcoming webinar on Scalable models - https://www.linkedin.com/events/scalablemodelling-usingmsfabric7106464501708840960/

Follow Craig Hatmaker:

Linkedin: https://www.linkedin.com/in/craig-hatmaker-4449879/
Website: https://sites.google.com/site/beyondexcel/home
YouTube: https://www.youtube.com/@CraigHatmakerBXL

Building with Fast + 5G- https://www.youtube.com/watch?v=8Zl3yURsvdE&t=1s

Demo using 5G Components-
Intro 5G - Watch an Excel Model do something incredible using 5G methods - YouTube

Gist site to download Craig Hatmakers LAMBDAs for 5G modeling- https://gist.github.com/CHatmaker

Follow Ian Schnoor:

Linkedin: https://www.linkedin.com/in/ianschnoor/
Website: https://fminstitute.com/

Follow Paul:

Website - https://www.thefpandaguy.com/   

LinkedIn - https://www.linkedin.com/in/thefpandaguy/  

Instagram - https://www.instagram.com/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

Twitter - https://twitter.com/TheFPandAGuy

YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner 

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Subscribe to our Newsletter- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984  

Quotes:  

“Python brings a suite of libraries that can do some amazing things.”  

“You don’t have to learn Python, Dynamic Arrays, or LAMBDAs for Financial Modeling, but you need to know it exists to stay relevant.”

“ Dynamic arrays force you to have consistent formulas. ”

“ LAMBDAs are functions that write functions using native excel functions. ”

“Learn the basics and start experimenting.”

In today’s episode:  

(00:22) Intro;

(00:39) Introduction of Guests;

(03:30) Take on Python into Excel ;

(06:49) Addressing Security Issues ;

(07:32) What are Dynamic Arrays ;

(09:58) Use case of Dynamic Arrays;

(11:45) What is LAMBDA;  

(18:20) FMI exams and Dynamic Arrays;

(21:57) LAMBDAs for 5G modeling ;

(24:13) How to use 5G modeling; 

(26:29 - 27:15) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(28:59) Auditing Dynamic Array Models;

(33:30) Favorite spillable functions;

(36:58) The potential of a standard to use LAMBDAs and Dynamic Arrays;

(39:45) AI building Models;

(44:20) Advice for the audience;

(46:59) Advice on LAMBDAs;

(49:15) Advice for Modelers;

(51:42) Connect with Jeff, Danielle, Craig & Ian

(52:57) Outro

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host, Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by Hedieh Kianyfard, who is the founder of Finexmod. This is the website where Hedieh shares her views on financial modeling and shows that it’s possible to have fun with finance.

Hedieh is passionate about economic development and aims to make financial modeling easy and fun for everyone.

Listen to this episode as Hedieh shares:

• Her journey and background in financial modeling
• Her experience and learning from the worst models that she came across
• How Hedieh considers Modeling as a great career and more than a stepping stone.
• Responsibility as a modeler to reject bad projects and help ensure good projects are accepted.
• Everything about her book- Financial Modeling Detective
• 10 Financial Modeling Commandments
• Why people should avoid circular references – hint they are the devil 😊
• The importance of having a decision-making mindset
• Her position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Quotes:

“A Financial Modeler is like a Fortune Teller.”

“Modeling is a great career and more than a stepping stone.”

“ It’s important to put yourself, in the end, users' shoes to understand their needs better. ”

“ As modelers we have a responsibility to reject bad projects and help ensure good projects are accepted. ”

Follow Hedieh:

Website - https://www.finexmod.com/

LinkedIn - http://linkedin.com/in/hediehkianyfard

Instagram - https://instagram.com/finexmod

Facebook - https://m.facebook.com/people/Finexmod/100063965894693/

Youtube - https://youtube.com/@FinancialModelDetective

The Interpolate-Lookup function as explained by Professor Edward Bodmer- https://edbodmer.com/interpolate-lookup-function/

Financial Model Detective Book: Financial Model Detective: Hints and tricks for review of financial models: Kianyfard, Hedieh: 9781074174606: Amazon.com: Books

 Follow Paul:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

Twitter - https://twitter.com/TheFPandAGuy

YouTube - https://www.youtube.com/@thefpaguy8376

Follow Financial Modeler's Corner

LinkedIn Page - https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

Newsletter - Subscribe on LinkedIn https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

 In today’s episode:

(00:22) Intro;

(00:45) Welcoming Hedieh;

(01:06) The worst financial model Hedieh has ever seen ;

(03:26) Hedieh’s key learning experience from the worst financial model ;

(06:23) Hedieh’s background;

(09:35) About Hedieh’s website - Finexmod

(10:23) About Hedieh’s book - Financial Modeling Detective

(12:25) Why is it important to have someone audit Financial Models

(16:12) Financial Model Ten Commandments

(17:31) Rule 9 - Why people should avoid circular references

(19:21) Rule 10 - The Modeler shouldn’t be selfish

(21:15 - 22:02) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(22:03) The decision makers mindset;

(26:31) How to develop that decision making mindset;

(28:30) What is the process of infrastructure project;

(30:58) Rapid Fire;

(35:31) When did Hedieh realize Financial Modeling as a career

(37:31) Connect with Hedieh;

(38:32) Paul’s best picks:

(40:50) CPE Credit with this episode;

(41:20) Outro

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI), the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by Chris Reilly, who is the founder of Financial Modeling Education. Chris spent many years working in private equity, and today, he runs his own business focused on providing financial modeling education and financial modeling consulting services.

Chris is very passionate about Financial Modeling and helping others learn to build robust financial models focused on the 3-financial statements.

Listen to this episode as Chris shares:

• The worst model he ever built; hint it involves using his phone :)
• His journey and background into Modeling
• The importance of simple, uncomplicated model design
• How being a part of a financial modeling community like FMI can help modelers
  
• The revolver approach for managing cash and why it is important in modeling
  
• The benefits and challenges of using EBITDA to value a company
• His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code Podcast.

Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.

Follow Chris:    

Website - https://www.financialmodelingeducation.com/

LinkedIn -  https://www.linkedin.com/in/chris-reilly-mission-capital/

Newsletter -  https://financialmodelingeducator.com/

Follow Financial Modeler's Corner LinkedIn Page & Subscribe to Newsletter

Linkedin Page -  https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true

LinkedIn Newsletter - https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Follow Paul:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

Twitter - https://twitter.com/TheFPandAGuy

YouTube - https://www.youtube.com/@thefpaguy8376

Quotes:

“ A poor design leads to a poor output. ”  

“ Schedules feed the structure. Once you have that dialed in your head you can build whatever you want. ”

“ It’s nice to have a community where you can get some live feedback on your search as opposed to going down the internet rabbit hole. ”

“To learn to be a modeler you need to model. Spend time finding ways to improve your modeling skills.”

In today’s episode:

(00:22) Intro;

(00:47) Welcoming Chris Reilly;

(01:00) The worst financial model Chris has ever seen ;

(03:01) Chris’s takeaway from the worst financial model ;

(05:56) Chris ’s background;

(07:40) What Chris wished he had known that he knows now;

(11:52) FMI’s Premier Modeling Community;

(14:33 - 15:20) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(15:21) Hardest concept for people to grasp;

(18:23) Reasons why balance sheets do not work;

(20:00) The Revolver Approach;

(21:48) The most important skill to build a Financial Model;

(23:22) The value of EBITDA and its pitfalls;

(29:07) Rapid Fire;

(31:35) Chris’s take on Circular References

(33:23) Nugget on how to become a better modeler;

(36:36) Connect with Chris;

(37:48) Paul’s best picks- how Chris learned from his initially not so perfect models and how those mistakes helped him become the best educator.

(38:56) CPE Credit with this episode;

(39:07) Outro.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by David C. Brown, an Associate Professor of Finance. David focuses on teaching finance and financial modeling, bringing his real-world experience to the classroom with his students. He is also heavily involved in helping students improve Excel skills, including running the Microsoft Excel Collegiate Championship (MECC)

He is very passionate about research and his work has been highlighted by the Wall Street Journal and MarketWatch.

Listen to this episode as David shares:

• His journey and background into Modeling
• His experience starting and running the Microsoft Excel Collegiate Challenge
• How Financial Modeling competitions help you grow and learn
• The key differences between modeling for competition and modeling for work
• His learning from his research and years of experience
• How he would structure the college finance program if he were in charge
• His latest research on Target Date Funds and how they perform relative to other retirement portfolios
• His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code podcast.

Visit www.fminstitute.com/podcast and use code podcast to save 15% when you register.

Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.

Follow David:  

YouTube - https://www.youtube.com/@docbrownexcels  

Website - https://www.davidclaytonbrown.com/

E-mail - [email protected]

·        To learn more about Microsoft Excel Collegiate Challenge, visit this website- https://mecc.college/

Follow Paul:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

Instagram - https://www.instagram.com/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

Twitter - https://twitter.com/TheFPandAGuy

YouTube - https://www.youtube.com/@thefpaguy8376

Quotes:

“ Collegiate Challenge is not about being the best, its about challenging yourself, learning more and getting better at it. ”  

“ If you understand Python you can figure out Excel. ”

“ Excel is the way to get people into data analytics. ”

“ Challenge the assumptions, challenge the model and eventually figure out whats wrong. ”

In today’s episode:

(00:22) Intro;

(00:45) Welcoming David Brown;

(01:25) The worst financial model David has ever seen ;

(03:17) David’s take away from the worst financial model ;

(06:08) David ’s background;

(10:05) How David decided to become a Finance Professor ;

(12:39 - 13:25) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);

(13:27) What is the Microsoft Excel Collegiate Challenge;

(17:20) Excel Tables;

(19:17) Advice to students willing to participate in these competitions;

(21:33) David’s experience with these competitions;

(24:47) How to help students with a hands on experience to building models;

(27:04) David’s suggestion to changes in college curriculum;

(29:07) Financial Modeling for competitions vs. Building it for clients;

(31:10) David’s learning from his research;

(37:58) Rapid Fire;

(42:19) Nugget on how to become a better modeler;

(43:57) Connect with David;

(44:50) Paul’s best picks

–       How David wishes to teach the college program for Finance

(45:23) CPE Credit with this episode;

(45:40) Outro.

Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI)  the most respected accreditations in Financial Modeling globally.

In this episode, Paul Barnhurst is joined by Diarmuid Early, one of the best modelers in the world and, the Founder of Early Days Consulting. He is a regular competitor in the Financial Modeling World Cup (FMWC) and is often referred to as the Michael Jordan of financial modeling for his impressive results. He is the winner of the 2021 FMWC and a runner-up in the 2020 and 2022 editions.

Listen to this episode as Diarmuid shares:

• His journey and background into Modeling
  

• How Financial Modeling competitions help you grow and learn
  

• The key differences between modeling for competition and modeling for work
  

• His practical advice on how to build a 3-statement model
  

• How assumption ambiguity and structural ambiguity impact your model.
  

• His position on controversial modeling issues including circular references, dynamic arrays, modeling standards and more

Financial Modeler’s Corner is sponsored by the Financial Modeling Institute

Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% of by using the special show code FMC15.

Visit  www.fminstitute.com/podcast  and use code FMC15 to save 15% when you register.

Go to  https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit for listening to the episode.

Follow Diarmuid:   

YouTube -  https://www.youtube.com/@DimEarly/   

LinkedIn -  https://www.linkedin.com/in/diarmuidearly

• Stream the events of FMWC live on YouTube by visiting -  Financial Modeling World Cup  

• Link to the next streaming session on July 27th at 9 AM MST of which Paul Barnhurst will be a part -  Battle VII - Road to Las Vegas 2023 (Excel Esports) 
  

Follow Paul:

Website -  https://www.thefpandaguy.com/

LinkedIn -  https://www.linkedin.com/in/thefpandaguy/

Instagram -  https://www.instagram.com/thefpandaguy/

TikTok -  https://www.tiktok.com/@thefpandaguy

Twitter -  https://twitter.com/TheFPandAGuy

YouTube -  https://www.youtube.com/@thefpaguy8376

Quotes:

“You need to have certain discipline around what you want your model to do.”

“Getting better at excel has been more valuable than getting better known by winning the FMWC.”   

“ Do terribly struggle for an hour and a half with what should have been a 30-minute question, but eventually get it out. You'll learn a ton from that. ”

“ The big value in the competition is a learning opportunity and you don't need to train to start learning. ”

“ The person who is most valuable as a financial modeler is the one who can tell you what are good assumptions to make. ”

In today’s episode:

(00:22) Intro;

(00:45) Welcoming Diarmuid;

(01:16)  The worst financial model Diarmuid has ever seen ;

(04:13)  Diarmuid’s take away from the worst financial model ;

(07:45)  Diarmuid ’s background;

(09:45) How  Diarmuid became interested in Financial Modeling Competitions ;

(11:48) How Diarmuid felt after winning the competition;

(12:51) What Diarmuid enjoys about competing;

(18:05) Financial Modeling for competitions vs. Building it for clients;

(22:37 - 23:23) Validate your Financial Modeling Skills with FMI’s  Accreditation Program (ad);

(23:30) Diarmuid’s top advice for competitions;

(25:10) Rapid Fire;

(29:45) Nugget on how to become a better modeler;

(34:40) Connect with Diarmuid;

(35:40) About FMWC;

(37:55) CPE Credit with this episode;

(38:30) Outro;