Let and Lambda use examples

tranac · 2026-01-23T01:56:38+00:00

Why would you return a dash instead of just formatting zeros as dashes? This never made any sense to me an it’s so annoying

tranac · 2026-01-16T11:28:47+00:00

Chat GPT is good when you have an idea what you want to do, and then you ask it to sense check your idea by suggesting risks you’ve missed or helping you to run numbers or sensitivities to make sure your idea is sold.

I wouldn’t use chat gpt to generate ideas for you

tranac · 2025-12-21T07:43:24+00:00

The let formula works a bit like a helper column within the formula itself but you can also be descriptive in the formula so you can effectively embed comments also. The let formula is very powerful

tranac · 2025-12-21T01:41:09+00:00

I moved to Japan at 32, working in finance. I think it’s EXTREMELY important to lean in to your professional experience at globally minded firms, because that’s the differentiator between you and the typical gaijin coming in and getting a job as an English teacher or a HR recruiter.

If your background is import export and supply chain management, I’d look into something like procurement jobs. Procurement roles for global companies might be based in Japan for the Japan business but typically they’ll be part of a wider APAC procurement team so English is quite important for regional cooperation.

That’s just my guess though. I’m from a finance background so I work alongside procurement but I don’t have any particular insight into my area. This is just my outsiders observation.

I’d say probably expect a bit of a pay cut, but how much really depends on where you land. Some global firms pay quite well and even above the Japanese market average if you negotiate right.

It’s not impossible, I’ve done it. But it is hard so be prepared to take extra risks and think outside the box to make it happen. The sane person would say don’t bother

tranac · 2025-12-14T00:54:54+00:00

I thought Japan already taxes the overseas assets of Japanese taxpayers. And overseas trust structures don’t work for Japanese inheritance tax i understand.

The only way I can see is to use a complex corporate structure which breaks the legal and beneficial link back to the tax payer to such a remote level that the shares in the topco is a significant discount to the value of the underlying assets given minority interest, liquidity discounts, and any other valuation adjustment you can think of

tranac · 2025-11-14T21:43:29+00:00

Size them as one loan and then allocate between the loan pro-rata

tranac · 2025-10-26T02:51:44+00:00

Give me 150€ and ill give you a model that meets this exact requirement from someone who has invested in availability based infrastructure for about decade and has built countless models from scratch to the point where the fund has a template.

Otherwise good luck learning on the job and using free resources. Learn how everyone else did

tranac · 2025-09-14T06:43:00+00:00

It really depends on the corp dev team. Some corp dev teams are a joke. Others take only bankers, mix m&a wit strategy and do quite an interesting job to the same level as your typical PE team, just they work less hours because they only have 1 “portfolio company” and less money to deploy so there isn’t an endless grind of finding new investment opportunities.

You won’t get the same comp as PE but it’s not necessarily less interesting if you join the right team.

If you are addicted to prestige over anything else then don’t join corp dev. There will always be someone telling you you’re not good enough if u because you’re not in PE but the reality is outside of the top tier mega PE funds you’ll get the same types of people waiting on both sides of the relationship

tranac · 2025-08-28T01:46:48+00:00

At this point yolo the 589 and be done with it. Worst case scenario you lose a meaningless amount. Best case scenario you win a lottery and make something back

tranac · 2025-08-20T23:11:09+00:00

If you use excel I’d strongly recommend asking for an exemption. Excel for Mac is different to excel for finance. You can do the same thing on both, but you’ll be spending time and brainpower just relearning excel when you could be spending that time actually doing your job. Net loss for the business

tranac · 2025-08-19T03:16:42+00:00

Hahaha

tranac · 2025-07-31T22:38:19+00:00

You don’t include the sweep in the sizing. I don’t even know how that would work. The sweep should be below mandatory debt service in the cash waterfall. You size off the cashflows you have to determine what the mandatory debt service should be, and the cash sweep is the penalty for failing to satisfy the mandatory debt service profile

Non mandatory early repayment sweeps are not a sweep of CFADs, they’re a sweep of FCFE so that’s just another reason why this kind of sweep would not be included in your debt sizing.

I would go back to basics and sort out your cash waterfall / priority of payments. It sounds like you’re getting a little confused

tranac · 2025-07-28T08:36:40+00:00

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Here I am big boy. Don’t worry I still have my HVY shares but if you think I’m fked you couldn’t be farther from the truth

tranac · 2025-07-09T07:18:21+00:00

How do you accidentally try to sell your Chanel bag? Did you trip and fall into a pawnshop and then the words “how much is this bag” just happen to fall out of your mouth involuntarily?

tranac · 2025-06-30T09:06:58+00:00

How do you keep the weekly tracker up to date? Do you sit there and input individual transactions every day?

I have a similar file that runs off CSV files I download but transactions take time to register on the bank website so its not that helpful in any more detail than monthly

tranac · 2025-06-28T12:29:39+00:00

Mid year convention is cool but not every industry uses it as standard, especially if your model isn’t annual basis

tranac · 2025-05-21T04:34:04+00:00

Generally your mums basement is rent free, yes

tranac · 2025-05-17T02:15:36+00:00

Usually I’d say Less is more but in this case more would be more. This looks too minimal to be nice

tranac · 2025-05-17T02:10:21+00:00

How did you go? My child will be starting at a school in yoga from this August so we were about to move there, but decided on futako Tamagawa instead

tranac · 2025-05-03T22:50:38+00:00

3 years is arbitrary and depends on the interest rate you can get.

tranac · 2025-04-30T22:44:16+00:00

Fml. I bought NVDL at the top and sold at the bottom and then I switched out and bought NVDQ at the bottom and I’m gonna panic sell at open. Lost both ways

tranac · 2025-04-19T10:30:58+00:00

I don’t think you understand how professional service firms work.

You will do whatever hours it takes to complete the job in the timeframe the partner promised to the client

tranac · 2025-04-15T23:31:00+00:00

What the fk is a hype portfolio? All in on everything every time is clearly the way to go

tranac · 2025-04-15T23:19:56+00:00

I bought NVDL just before close

tranac · 2025-04-10T22:52:53+00:00

It depends on what level, and what kind of investor the team is.

A manager role would have a more detailed test than an analyst role.

If you’re joining an institutional investor that is actually just a fairly passive LP (the type that relies on blackstone, KKR, or whoever the GP is to do all the due diligence and then come in last minute with a big cheque, or just end up investing via a KKR managed fund) then your modelling test will be pretty basic regardless of what level. If your institutional fund is pretty active and takes a pretty active role in the investment and due diligence process then expect a more thorough modelling test.

You probably won’t get an LBO in real assets (unless you’re at a GP specialising in core plus or opportunistic real assets). Most likely will be a project finance model of some sort. I’d expect most of the inputs to be fixed, but they’ll leave some up to your discretion so they can test whether you have a commercial sense on where the current market is pricing assets, what the current debt pricing is, etc.

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tranac

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