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Article // The top 5 accounting mistakes analysts make
While many analysts and modellers start their careers with accounting training, many don't. This article from the CFA's Enterprising Investor blog is a useful pointer to some of the areas where analysts go wrong. In particular, number two resonated; "not understanding the reflexity / interactivity of the three major financial statements". In my experience of teaching modelling for more than 10 years, it's often only once we have built a fully integrated 3 statement model that we really develop this understanding on an intuitive level. Kenny
Self awareness // Ray Dalio's PrinciplesYou
Ray Dalio, Founder of Bridgewater and author of Principles, together with Adam Grant (Psychologist and author of Think Again) have collaborated to develop a new free self-development tool called PrinciplesYou. Most such free assessments are link bait at best. This one is excellent. Not only is it well backed by the latest research, but it provides a useful comparison with the profiles of colleagues or friends - showing where you are likely to align and where you may differ. Self-awareness is critical for any professional. This may be our new go-to team development tool. Kenny
Productivity // Blinkist
Since we started Full Stack Modeller last year my reading list has grown considerably. However, the time I have available to actually sit down and open a good book has gone in the opposite direction. A well-read connection of mine recently introduced me to an app called Blinkist. I think it's brilliant. For around £5 a month you can read summaries of more than 4,500 non-fiction books. It'll take around 15 minutes or so to work your way through the key messages from your chosen book. Essentially I'm now learning again almost every night before I finally turn my lights off. Well worth a look for those of you who struggle for time and feel like you're no longer expanding your own mind on a regular basis. Giles.
Tech stack // Causal raises $4.2m seed round
Founded in 2019 by Taimur Abdaal and Lukas Koebis, Causal is a tool for performing calculations, visualising data, and communicating with numbers. Causal falls into the "Excel replacement" category of tools that are unbundling the use cases of Excel. (See this article on the unbundling of excel use cases.) This week Causal announced that they have closed a $4.2 million seed round led by Accel. Existing investors Coatue, Passion Capital, Verissimo Ventures, Naval Ravikant, and Varadh Jain also participated. Read more.
Modeller's Miscellany Jobs
If you have a financial modelling related position you’d like us to include, please email email@example.com. Investment / Financial Analyst - PowerTree - London, UK Senior Financial Model Auditor - DWPF -London, UK Private Finance Analyst - Barings - Sydney, AUS Financial Modelling Associate - BlackRock - New York, USA Financial Modelling Internship (Work from home) - Zam Holdings - Remote, India
And finally // Will you still be using Excel when you are 91?
A 91-year-old Japanese woman who has been in her job for 65 years has entered the Guinness Book of World Records as the person who has worked at the same company for the longest. She still in charge of keeping company accounts, calculating staff salaries and bonuses as well as tax deductions; all in Excel. Read more.
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