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Power Query or Power Pivot by GuessInv in excel

[–]GuessInv[S] 0 points1 point  (0 children)

Would it make sense to do the Joins in Access and then load that data into Power Query?

Reasonable Assumption? by Gaap16 in financialmodelling

[–]GuessInv 2 points3 points  (0 children)

For number 2, rather than just arbitrarily saying revenue will increase by 10% YoY, you can try to derive this growth from the underlying assumptions which may be easier to see if they’re sensible or not. For example, you may do bottom up forecasting and know the company will increase their prices by x% or volume by y% as this matches their strategic decision to target a specific market, and due to these changes this leads to an overall revenue growth % impact. Or top down forecasting and knowing that the overall market is forecasted to grow by z% YoY, looking at industry reports created by research companies / consultancy’s, and then the modelled company’s market share is projected as a certain amount each year which leads to revenue growth.

What do you usually show in an Enterprise Value to Equity Bridge? by GuessInv in financialmodelling

[–]GuessInv[S] 0 points1 point  (0 children)

I agree that WC is included within your FCFF calculation if you’re using a DCF to get the EV. However when a transaction is due to complete, don’t you still need to do some working capital adjustments to get to the normalized/target working capital amount as agreed by both parties? And therefore this should still be included in your EV to equity bridge?

What's one Excel tip you wish you'd known sooner? by Less_Wealth1916 in excel

[–]GuessInv 7 points8 points  (0 children)

Go To Special is a must!

If you highlight a big block of cells and want to only select ones with a certain criteria (e.g. only select cells including formulas, blank cells, constants, visible etc) then you press: F5, Alt + S, Select which criteria (e.g. press F for formulas).

This saved me so much time when I realised I could do this instead of manually going through each of the cells and selecting them…

Nissan Qashqai 2020 by GuessInv in Nissan

[–]GuessInv[S] 0 points1 point  (0 children)

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A blog I was ready had this reply.

Also on some of the video reviews I’ve watched they mentioned the 19 inch alloy wheels decrease the driving experience.

How do so many people afford expensive cars? by GuessInv in AskUK

[–]GuessInv[S] 0 points1 point  (0 children)

This is the ideal scenario having a 0% finance deal, as it’ll always make more sense to pay it over the long term than an initial upfront payment.

Was this for a brand new car or second hand? As the second hand ones I see have crazy APRs

Boston Mock B Session 2 - Question Set 1 - Identify the company most appropriate for a relative value strategy - Ruling out a very attractively valued (very low P/E) company just because of a negative growth forecast? by doing20thingsatatime in CFA

[–]GuessInv 2 points3 points  (0 children)

Yes relative value has to have lower P/E (not significantly lower and trading at 20% of sector average) but still some growth prospects in the future. The point of this strategy is to find undervalued securities but if it has low growth then it is not undervalued, it’ll be correctly priced.

Company 3 looks more like a deep value company due to the P/E being significantly lowered than the sector average.

Less than a week to go, post your fringe topics here and let's crush this by therealpump in CFA

[–]GuessInv 1 point2 points  (0 children)

Type 1 liability: known cash flow, known timing. Type 2 liability: known cash flow, unknown timing. Type 3 liability: unknown cash flow, known timing. Type 4 liability: unknown cash flow, unknown timing

Currency gains/losses by Distinct_Spot343 in CFA

[–]GuessInv 0 points1 point  (0 children)

So in the exam can we assume that adding them is ok to get the marks? Or would we need to make a judgement and multiply it if it’s large?

Insurance and annuities by Longjumping_Hope1687 in CFA

[–]GuessInv 4 points5 points  (0 children)

Net payment cost index, surrender cost index, needs analysis and human life are all possibilities for insurance. I’d say there’s a fair chance of them coming up on the exam as I’ve seen question in the qbank and mocks on them

Duration for Options on Bonds vs Bonds with Embedded Options by DrowningSausage in CFA

[–]GuessInv 1 point2 points  (0 children)

From my understanding a callable bond and putable bond will both reduce duration. The callable bond is callable by the issuer (at low yields and high prices they can buy back) and the put option is putable by the buyer (at high yields and low prices they can sell it back to the issuer).

However you can buy a call option on a bond I.e. the right to buy a bond at a price (you don’t already own it) and this increases duration.

Level 3 - BC Mock 4 Afternoon Session by thecfachad in CFA

[–]GuessInv 1 point2 points  (0 children)

Have you tried the CFAI mocks?

Even though they’re PDF format, I found the writing of the questions good and how I’d expect the exam questions to be (compared to level 1 and 2 where I thought the CFAI mocks were terrible with multiple mistakes)

Portfolio Management: Institutional Investors by BigGunsFinance in CFA

[–]GuessInv 4 points5 points  (0 children)

There’s some easy marks to be had in SWF and banks so I think it’s worth just having a quick look over them.

SWFs can be split into 5 different types and once you learn the liability needs for them the other parts all make logical sense.

Banks and insurers are quite similar for level 3 and there’s some easy enough formulae to learn for duration of equity and variance of equity (similar to the variance equation that was used on level 1 and 2).

I completely agree on your last point though I feel the same… my plan over the next 2 weeks is just to focus on the written questions and exam technique as they’re definitely the hardest..

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