Great news… Shape Up, our new book, is now available as a free PDF. No email required either. Go here and scroll down a bit – you’ll see the PDF link: https://t.co/hOQfTZOICr
— Jason Fried (@jasonfried) August 22, 2019
From the archives: "Have You Ever Tried to Sell a Diamond?" A true classic. https://t.co/pQA4fRAMiK
— Phil Ordway (@pcordway) August 22, 2019
An absolute treasure trove of investing material compiled by @absolut_brian 👏
"The best thing a human being can do is help another human being know more"– Charlie Munger.
Plz share @Gautam__Baid @iancassel@dmuthuk @safalniveshak @ToddWenning 🙏https://t.co/OFX8KTHcMr
— Ram Bhupatiraju (@RamBhupatiraju) August 22, 2019
“Beware the investment activity that produces applause. The great moves are usually greeted by yawns.”
– Warren Buffett
— Andrew Wilkinson (@awilkinson) August 21, 2019
“By the Book” is a great column and this might be the best one I’ve read. https://t.co/fWf3JTFMlZ
— Phil Ordway (@pcordway) August 21, 2019
Danielle Stein-Fairhurst on Using Excel for Business and Financial Modelling
August 21, 2019 in Audio, Interviews, Meet-the-Author Forum, Meet-the-Author Forum 2019, Skills, ToolsDanielle Stein-Fairhurst discussed her book, Using Excel for Business and Financial Modelling: A Practical Guide, at MOI Global’s Meet-the-Author Summer Forum 2019. Danielle serves as principal of Plum Solutions.
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About the book:
First published in 2012, Using Excel for Business and Financial Modelling contains step-by-step instructions of how to solve common business problems using financial models, including downloadable Excel templates, a list of shortcuts and tons of practical tips and techniques you can apply straight away.
Whilst there are many hundreds of tools, features and functions in Excel, this book focuses on the topics most relevant to finance professionals. It covers these features in detail from a practical perspective, but also puts them in context by applying them to practical examples in the real world. Learn to create financial models to help make business decisions whilst applying modelling best practice methodology, tools and techniques.
- Provides the perfect mix of practice and theory
- Helps you become a DIY Excel modelling specialist
- Includes updates for Excel 2019/365 and Excel for Mac
- May be used as an accompaniment to the author’s online and face-to-face training courses
Many people are often overwhelmed by the hundreds of tools in Excel, and this book gives clarity to the ones you need to know in order to perform your job more efficiently. This book also demystifies the technical, design, logic and financial skills you need for business and financial modelling.
About the author:
Danielle Stein Fairhurst is the Principal of Plum Solutions, a Sydney-based consultancy specialising in financial modelling and analysis. She is the author of Financial Modeling in Excel for Dummies, published by Wiley in 2017, and Using Excel for Business and Financial Modelling, Third Edition, published by Wiley Finance 2019. With over fourteen years’ experience as a financial analyst, she helps her clients create meaningful financial models in the form of business cases, pricing models and management reports. She has hands-on experience in a number of industry sectors, including telecoms, information systems, manufacturing and financial services.
Danielle has regular engagements around Australia and globally as a speaker, course facilitator, financial modelling consultant and analyst, was a guest on Excel TV and has been interviewed for several industry podcasts. She is on the judging panel for the 2019 Financial Modelling Innovation Awards and is on the Diversity Council for the ModelOff Financial Modeling World Championships. She founded the Financial Modellers’ Meetup groups which now has over 5,000 members in seven countries as well as a LinkedIn forum with over 45,000 members. She holds a Master of Business Administration (MBA) from Macquarie Graduate School of Management (MGSM), and has taught management accounting subjects at Sydney University.
Scott Page on His Book, The Model Thinker
August 20, 2019 in Audio, Interviews, Meet-the-Author Forum, Meet-the-Author Forum 2019, Meet-the-Author Forum 2019 FeaturedScott Page discussed his book, The Model Thinker: What You Need to Know to Make Data Work for You, at MOI Global’s Meet-the-Author Summer Forum 2019. Scott is a Professor of Complex Systems, Political Science, and Economics at the University of Michigan at Ann Arbor.
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From the stock market to genomics laboratories, census figures to marketing email blasts, we are awash with data. But as anyone who has ever opened up a spreadsheet packed with seemingly infinite lines of data knows, numbers aren’t enough: we need to know how to make those numbers talk. In The Model Thinker, social scientist Scott E. Page shows us the mathematical, statistical, and computational models–from linear regression to random walks and far beyond–that can turn anyone into a genius. At the core of the book is Page’s “many-model paradigm,” which shows the reader how to apply multiple models to organize the data, leading to wiser choices, more accurate predictions, and more robust designs. The Model Thinker provides a toolkit for business people, students, scientists, pollsters, and bloggers to make them better, clearer thinkers, able to leverage data and information to their advantage.
About the author:
Scott Page is the Leonid Hurwicz Collegiate Professor of Complex Systems, Political Science, and Economics at the University of Michigan. In 2011, he was elected to the American Academy of Arts and Sciences.
His research focuses on the myriad roles that diversity plays in complex systems. For example, how does diversity arise? Does diversity make a system more productive? How does diversity impact robustness? Does it make a system prone to large events?
Scott has written five books: “The Model Thinker – What you need to know to make data work for you” – stresses the application of ensembles of models to make sense of complex phenomena; “The Diversity [Bonus] – How Great Teams Pay Off in the Knowledge Economy” the follow up and expansion on the themes in The Difference; “The Difference”, which demonstrates the benefits and costs of diversity in social contexts, Complex Adaptive Social Systems (with John Miller), which provides an introduction to complexity theory, and, most recently, Diversity and Complexity, which explores the contributions of diversity within complex systems.
Scott has also published papers in a variety of disciplines including economics, political science, computer science, management, physics, public health, geography, urban planning, engineering, and history.
In his research, Scott has been fortunate to work with a collection of brilliant people — Lu Hong, John Miller, PJ Lamberson, Russell Golman, Kate Anderson, Ken Kollman, Evan Economo, Michael Wellman, and Jenna Bednar — as he tries to make sense of these questions.
In addition to writing papers and books, he has also filmed a video course on complexity called Understanding Complexity.
Scott’s research on diversity provides his with many opportunities to talk with community groups, high schools, corporations, government agencies, NGOs, and university audiences.
Norb Vonnegut on His Book, The Pell Heist (and the Lessons of Fiction)
August 19, 2019 in Audio, Interviews, Meet-the-Author Forum, Meet-the-Author Forum 2019Norb Vonnegut discussed his book, The Pell Heist, at MOI Global’s Meet-the-Author Summer Forum 2019. Norb made the case for how fiction can help us become better at investing by becoming better at evaluating people.
Norb serves as founder of Second Opinion Wealth Management.
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Jack Legare’s the last person you’d enlist to recover five priceless paintings stolen twenty-five years ago. He can’t tell a Matisse from a Monet. He has no background in law enforcement. He’s going broke, and his inner circle thinks he’s an idiot for abandoning Wall Street to buy a money-pit marina.
But a former client knows Legare’s talents and woos him to join her quest to reclaim the missing masterpieces. He in turn recruits Helen Chan, a beautiful lawyer with a shadowy past and disregard for authority. The more they uncover, the uglier things get. Until, Jack and Helen know too much to live.
If you like underdogs who face overwhelming odds and “smart-talking characters” ensnared by “diabolically elegant business crimes,” which is how the New York Times describes Vonnegut’s thrillers… If you’re sick of waiting to find out who robbed the Isabella Stewart Gardner Museum… Read this action-packed thriller from acclaimed author, Norb Vonnegut.
About the author:
Norb Vonnegut founded Second Opinion Wealth Management to level the playing field for investors. He has been advising families and writing about wealth management for over 25 years as a partner (former) on a Morgan Stanley advisory team with over $1 billion in AUM, industry commentator published by the Wall Street Journal and CFA Institute, and NYT-acclaimed author of several financial thrillers that take the mystery out of Wall Street.
Sandra Powers Murphy on Her Book, The Road to AUM
August 18, 2019 in Audio, Building a Great Investment Firm, Interviews, Meet-the-Author Forum, Meet-the-Author Forum 2019, Meet-the-Author Forum 2019 Featured, TranscriptsSandra Powers Murphy discussed her book, The Road to AUM: Driving Assets Under Management through Effective Marketing and Sales, at MOI Global’s Meet-the-Author Summer Forum 2019. Sandra is founder of Noble Ark Ventures.
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Got performance? Seeking assets to manage? Frustrated by the youthful research professionals across the table who “just don’t get it” while seeming to control billions?
Managers are often challenged by the process of asset gathering. Why doesn’t the market recognize the firm’s value? Where is the AUM? Here is a big idea—let’s ask these institutions why most managers do not have their assets and never will. These pages convey the responses of institutional investors worldwide to these questions and more so that managers can hear their feedback directly and utilize it to create a game plan designed around what matters most to asset allocators.
Managers are a passionate lot. They work hard building firms, track records, and teams. Their strategies are different. They are out in the market, spending precious time and money in the pursuit of institutional assets to manage. Their numbers are better than exponentially larger, well branded, and longer tenured investment management competitors. Managers anticipate this outperformance will make all the difference in asset gathering. However, the assets consistently go to the biggest players in the industry, largely agnostic to asset class, vehicle type, and market cycle. Occasional entrants make a big splash, while the industry remains a pyramid. Few firms make it to their desired capacity. What makes the difference in institutional investment management marketing and sales?
The Road to AUM provides investment managers and business owners, as well as marketing and sales professionals with a roadmap to institutional asset growth based on observations and comments directly from the institutions themselves. Whether a firm is launching, emerging, stuck in neutral, or moving in a new direction, an aerial view of the road ahead is paramount. This book will tell managers what the market will not. It will explain where to spend time and resources, and where to save them. The book offers a view of the forest through the trees for managers seeking a path to asset growth.
About the author:
Sandra Powers Murphy is a globally recognized investment management marketing and sales consultant. After more than a decade serving in a marketing and sales capacity on behalf of State Street Global Advisors and State Street Corporation, Sandra founded ARK Global LLC. As CEO, Sandra drives product and business development initiatives on behalf of a diverse group of clients. Sandra has helped numerous managers expand their investor base, add product structures, secure strategic partnerships, define business plans, create market presence and improve their overall profitability. Separate and distinct from ARK Global, Sandra founded Noble Ark Ventures to serve as an educational resource to professionals regarding institutional marketing and sales best practices.
Sandra is the President of the Third Party Marketing Association as well as a member of the Women Presidents’ Organization and 100 Women in Finance. Sandra is a partner of Compass Securities Corporation, member FINRA, SIPC, and a Registered Representative of ARK Global LLC, member FINRA, SIPC. Sandra holds investment industry licenses with FINRA, the MSRB and NASAA including the Series 7 and 24; 50 and 53; 63 and 66 respectively. In addition, she serves on the Municipal Securities Rulemaking Board Professional Qualifications Advisory Committee. Sandra is a Licensed Certified Social Worker (LCSW) in the state of Massachusetts. Sandra lives with her husband, six children and golden retriever near Boston, Massachusetts.
This article by MOI Global instructor Shreekkanth Viswanathan is excerpted from a letter of SVN Capital, based near Chicago, Illinois.
In Q1 2019 I started building a position in AOS, a 144-year old company that manufactures and sells water heating and treating appliances in North America, China, and increasingly in India and other emerging markets. The company makes Water Heaters (2.5 gallons to 4,000 gallons), Boilers (40,000 BTUs to 6.0 mill BTUs), and Water Treatment products. About 2/3rd of its sales are in North America and about 1/3rd is in China. That’s one of the reasons why I started digging into the details. As the tariff tiff between the US and China started worsening in 2018, AOS (and other China exposed businesses) started feeling the heat and correspondingly their stock prices started tumbling – AOS went from high-$60s in early 2018 to low-$40s. It worsened into Q4 2018, with the rest of the market. But why do I like this business now? How does it fit my selection criteria?
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