Blog
Notes on modelling and AI
99 articles from the podcast, covering project finance, valuation, AI in finance, Excel, Python and the tools behind better models.
AI Ecosystem Explained
From chips to cybersecurity, this post gives a breakdown of the seven layers powering the AI economy.
12 June 2026 · 4 min read
Financial Modelling with Claude
A lot has changed since we first wrote about using Claude for financial modelling. Back then, it was a clever chatbot you could paste formulas into. Now it lives inside your spreadsheet. Here's what that means for your workflow.
12 February 2026 · 5 min read
Visualise Your Model: Introducing the Formula Map Tool
The Formula Map Tool gives you a powerful visual overview of your Excel model. Instantly spot formulas, hardcodes, and complexity, making auditing, reviewing, and explaining your model faster and easier than ever.
30 July 2025 · 1 min read
Revolutionize Your Financial Models: Introducing the Grey Beards Excel Workbook Performance Analyzer
In the world of financial modelling, time is money. Whether you're racing to prepare for a client meeting, finalizing quarterly projections, or updating valuation models, nothing derails productivity like a sluggish Excel workbook.
27 February 2025 · 3 min read
Python for Excel: Supercharging Financial Modelling
The integration of Python into Excel is a game-changer. Financial modellers can now combine the intuitiveness of Excel with the power of Python, making models more robust, scalable, and insightful.
17 February 2025 · 2 min read
Essential Tools for Financial Modelling Success
My latest must-have products that can transform your financial modelling experience.
16 February 2025 · 3 min read
How Your Workspace Design Impacts Performance: The Psychology of Professional Environments
As we enter 2025, the optimization of professional workspaces becomes increasingly important. These wallpapers represent a thoughtful step toward creating an environment that supports peak financial performance.
17 January 2025 · 2 min read
5 Key Trends Shaping Project Finance in 2025
In 2025, the industry is undergoing significant changes driven by global trends and technological advancements. Here are the five key trends reshaping project finance.
14 January 2025 · 2 min read
Using Claude AI to Supercharge Your Excel Financial Modelling
As financial modellers, we're always looking for ways to streamline our workflow and reduce errors in our models. Enter Claude, an AI assistant that's proving to be a game-changer for Excel-based financial modelling.
6 January 2025 · 2 min read
Top Business Travel Must-Haves
Every item on this list makes business travel smoother, more organised, and less stressful.
23 December 2024 · 3 min read
Protecting Your Financial Models: Why and How to Implement Disclaimer Controls
As financial modelling becomes increasingly collaborative, protecting your intellectual property while maintaining usability is crucial.
3 December 2024 · 1 min read
How to Project Finance a Data Center
The surge in data centre investments by tech giants like Microsoft, Amazon, Google, and Meta underscores just how central these facilities have become to the AI-driven future.
22 November 2024 · 4 min read
Productivity Tools Every Financial Modeller Needs
Investing in the right tools can drastically improve your efficiency and comfort as a financial modeller.
22 November 2024 · 4 min read
How Data Centres are Financed: Financial Models for the Digital Backbone
The surge in data centre investments by tech giants like Microsoft, Amazon, Google, and Meta underscores just how central these facilities have become to the AI-driven future.
6 November 2024 · 5 min read
Understanding the Structure of a Project Finance Financial Model
This article breaks down the key components of a project finance model and explains how they interconnect to create a comprehensive financial analysis tool.
25 October 2024 · 2 min read
Modelling Interest During Construction (IDC) in Project Finance
Accurately modelling Interest During Construction is a critical component of project finance.
1 October 2024 · 3 min read
Top 5 Must-Read Books for Aspiring Investment Bankers
These five books provide a comprehensive foundation for anyone aspiring to enter the world of investment banking.
18 August 2024 · 4 min read
My Top 5 Must-Read Books on Project Finance
These five books are great resources for anyone looking to deepen their understanding of project finance.
9 August 2024 · 3 min read
Financial Modelling for Mergers and Acquisitions: A Practical Approach
Building a financial model for M&A activities requires a detailed and systematic approach.
8 July 2024 · 3 min read
Navigating Legal Aspects in Project Finance
Understanding the legal framework and considerations is crucial for successfully executing any project finance initiative.
1 July 2024 · 2 min read
How to Effectively Present Financial Models to Stakeholders
Effectively presenting a financial model to stakeholders is more than just showing your work—it's about telling a story they can understand and use.
29 June 2024 · 2 min read
How to Build a Robust Financial Model for Startups
Building a robust financial model for your startup is rigorous but rewarding. It provides clarity, prepares you for potential challenges, and helps communicate your vision to stakeholders.
26 June 2024 · 2 min read
Why Project Finance Uses Special Purpose Vehicles (SPVs)
The strategic use of Special Purpose Vehicles in project finance is a testament to the need for sophisticated financial structures that offer security, efficiency, and flexibility.
25 June 2024 · 3 min read
Unlocking Global Trade: Export Credit Finance Explained
Export credit finance is a key enabler of global trade, providing the necessary support for companies to expand internationally while mitigating inherent risks.
14 June 2024 · 2 min read
Understanding the Cash Flow Waterfall in Project Finance
The cash flow waterfall is a fundamental concept in project finance that ensures every dollar of revenue is allocated in a way that supports the project's long-term success and stability.
30 May 2024 · 3 min read
Automating Excel Tasks with AI: Boosting Efficiency in Financial Modelling
Incorporating AI into your Excel workflows can transform how you approach financial modelling. By automating repetitive tasks, you not only save time but also reduce the risk of human error and enhance the accuracy of your analyses.
29 May 2024 · 2 min read
The Role of Data in Strategic Dealmaking
A data-driven approach in dealmaking not only mitigates risks but also maximises value creation, paving the way for sustainable growth and successful outcomes. Embrace data to drive strategic deals and unlock new opportunities.
17 May 2024 · 3 min read
Exploring the Nuances of Valuation Financial Models
Whether you're a seasoned finance professional or a newcomer to the field, mastering these valuation models is essential for making informed investment decisions and strategic business moves.
8 May 2024 · 3 min read
Monte Carlo Analysis in Financial Modelling
Monte Carlo Simulations involve using probability distributions to simulate the impact of risk and uncertainty in prediction models.
7 May 2024 · 3 min read
Investment Banking in the 1960s: A Look Back at a Transformative Decade
The 1960s was a transformative decade for the financial world. Investment banking was marked by developments that would shape the industry.
18 November 2023 · 2 min read
Harnessing the Power of Data in Project Finance
Alternative Data can enhance the bankability of project finance deals, enabling the development of critical infrastructure globally.
18 November 2023 · 6 min read
The Pivotal Role of Alternative Data in Hedge Fund Strategies
One of the most significant transformations in recent years is the incorporation of alternative data into investment decision-making.
7 November 2023 · 3 min read
How to Achieve Your Visions by Making Your Life Strategy Actionable
Investment banking plays a pivotal role in facilitating capital allocation, mergers, acquisitions, and many other financial transactions.
24 October 2023 · 2 min read
The Importance of Financial Modelling in Investment Banking
Investment banking plays a pivotal role in facilitating capital allocation, mergers, acquisitions, and many other financial transactions.
13 October 2023 · 2 min read
Financial Close in Project Finance
Financial close is when all the financial agreements and commitments are formalised and the project is officially set in motion.
6 September 2023 · 2 min read
Decoding LBO Financial Models: A Deep Dive into Leveraged Buyouts
Decoding LBO financial models - Learn how these models facilitate informed decision-making within leveraged buyouts.
24 August 2023 · 2 min read
Mastering Finance: 7 Essential Books for Financial Modelling and Investment Success
Essential books for financial modelling, investment banking, infrastructure finance, project finance, and corporate finance.
8 August 2023 · 2 min read
Must-Have Financial Modelling Tools for Aspiring Analysts and Entrepreneurs
Essential financial modelling tools available on Amazon that will boost your analytical prowess and help you stay ahead in the game.
8 August 2023 · 2 min read
Project Finance vs Traditional Financing
Two prominent methods stand out for funding large-scale projects and business activities: project finance and traditional financing.
7 August 2023 · 3 min read
Key Players in Project Finance
Project finance is a complex process that involves numerous players coming together to finance ambitious ventures.
6 August 2023 · 3 min read
Debt Structuring in Project Finance
Debt structuring is a critical aspect of project finance, serving as the backbone for funding large-scale infrastructure and development projects.
3 August 2023 · 3 min read
Harnessing AI in Investment Banking
AI in Project Finance: From streamlining legal agreements and advertising efforts to enhancing risk assessment and project evaluation.
31 July 2023 · 10 min read
Embracing AI in Project Finance
AI in Project Finance: From streamlining legal agreements and advertising efforts to enhancing risk assessment and project evaluation.
1 May 2023 · 6 min read
Data Ecosystems: Privacy-Preserving Data Sharing for a Better Tomorrow
Data Sharing - A New Way of Business In the age of data-driven decision-making, the ability to securely and efficiently share data is critical to solving some of the world's most pressing problems. A recent focus in this
29 April 2023 · 3 min read
Excel Formulas for Financial Modellers
This post is about essential Excel formulas for financial modellers, suitable for both beginners and experienced professionals.
27 April 2023 · 4 min read
Financial Modelling Accreditation: 5 Reasons to get Accredited
The top 5 reasons why getting accredited as a financial modeller can boost your career, credibility, and expertise in financial modelling.
19 April 2023 · 3 min read
Sensitivity analysis is an essential financial modelling tool
Sensitivity analysis is an important tool used in financial modeling to assess the impact of changes in key assumptions or inputs on the output of the model.
20 March 2023 · 1 min read
Creating AI-Powered One Page Websites with OpenAI ChatGPT
Learn how to create a smart website with OpenAI GPT in one hour! The AI Magic course on Udemy will teach you how to integrate GPT technology to add natural language processing capabilities to your website.
8 March 2023 · 3 min read
The History of Financial Modelling
Financial models are mostly built in Microsoft Excel due to its user-friendly interface, customization options, built-in functions, compatibility with other software, and wide acceptance in the financial industry. While other software...
3 March 2023 · 2 min read
Why is Microsoft Excel the Financial Modelling Tool?
Financial models are mostly built in Microsoft Excel due to its user-friendly interface, customization options, built-in functions, compatibility with other software, and wide acceptance in the financial industry. While other software...
16 February 2023 · 1 min read
Data sharing responsibly can revolutionize industries
Data is a precious commodity that can be used to revolutionize various industries - sharing data expedites growth and innovation.
15 February 2023 · 2 min read
Why financial modelling is a skill everyone should know
Alternative Data can be used by any company, in any industry, to grow, better serve the environment and help entrepreneurs and students.
10 February 2023 · 2 min read
The Power of Data Ecosystems
Data sharing across organisations is a powerful tool that enables businesses and institutions to better understand and meet the needs of their customers and clients. Here are five reasons why data sharing is so powerful.
5 February 2023 · 2 min read
2023 Finance Book Recommendations
When it comes to finance, there is no shortage of topics to explore. From basic personal finance to complex corporate investments, there is always something new to learn. For those who are looking to deepen their underst
2 February 2023 · 3 min read
2023 Financial Modelling Book Recommendations
Financial modelling is an essential skill for anyone in the finance industry, and there are countless books available that can help you improve your abilities. However, with so many options to choose from, it can be diff
30 January 2023 · 3 min read
5 Tips on Building a Project Finance Financial Model
Project finance models are some of the most complex financial models out there. However, their usefulness can extend over many years of closing the deal, meeting financing requirements, and helping project owners optimis
16 October 2022 · 5 min read
How to Negotiate Using the Financial Model
I often say that if you understand the Financial Model, you understand the deal, business or whatever you're building a Financial Model for. That's because all the business logic is encapsulated in the Financial Model. B
30 September 2022 · 7 min read
Alternative Data – Beyond Finance
Alternative Data can be used by any company, in any industry, to grow, better serve the environment and help entrepreneurs and students.
29 May 2022 · 7 min read
Data Analytics for Kids
After my first post on Coding for Kids exploded in popularity, I decided to bring in some experts in the field and provide some more recommendations. My wife, a Paediatric Speech Language Therapist who specialises in ear
5 April 2022 · 3 min read
Gifts for Geeks
The holiday season is here! And what better way to celebrate the end of 2021 than with some geeky Christmas gifts? I've always been fairly geeky, proudly wearing my Linux t-shirt when I was 14 and thinking I was rebellin
4 December 2021 · 4 min read
AI Ethics and Data Analytics Governance
Data Governance vs. Model Governance and AI Ethics It's one thing having data governance, but we need governance across the whole data value chain - from data capturing to data use and presentation. I won't delve too muc
27 November 2021 · 5 min read
Analytics Across the Spectrum: Defensive to Offensive Analytics
Data Analytics Overview It is important to understand two major differences in terms used in the data analytics space. The first two terms are very commonly used, the second two are less commonly used in name, however, t
18 October 2021 · 5 min read
Alternative Data for Finance
What is Alternative Data? There has been a big move recently into examining Alternative Data. This term strikes me as odd, as it's pretty tricky to define. For example, suppose you own a grocery store and want to become
18 October 2021 · 3 min read
How to start your own podcast, business or launch your personal brand
I’ve been very fortunate to have experienced the thrills of entrepreneurialism a few times. I love nothing more than building a company up from the ground. The freedom of creativity, the excitement and the trepidation all come together...
5 September 2021 · 10 min read
Data Analytics Books Recommendations Part 2
Disclosure: Some of the links below are affiliate links, meaning, at no additional cost to you the Financial Modelling Podcast may earn a commission if you click through and make a purchase. Data Analytics Book Recommend
23 August 2021 · 3 min read
Why High-Frequency Analysis is the Future of Economic Forecasting
Data analytics and AI depends on historical data to make predictions of the future. During COVID-19, the change in behaviour and increased frequency of global events was enough to overwhelm most models, even sophisticated AI models....
22 August 2021 · 6 min read
Must-Have Financial Modelling Office Accessories
Optimise your work setup with these must-have financial modelling office accessories. From noise-cancelling headphones to keyboards!
26 April 2021 · 2 min read
Microsoft Excel Stock Types
Microsoft Excel has introduced Stock Types. Learn what this means and how to use this to build financial models with stocks.
2 January 2021 · 2 min read
Coffee Book Recommendations
Coffee is a passion of mine! Here I share my favourite coffee books, telling the story of how coffee came to dominate our world and senses.
7 December 2020 · 3 min read
Financial Modelling Book Recommendations
Financial modelling is such a vast field that it is almost impossible to know everything there is. Instead, many professionals, myself included, pick a field of specialty and focus there.
22 October 2020 · 3 min read
Data Analytics Books Recommendations Part 1
If there is one aspect of data analytics that I’ve realised in exceptionally important, it is the ability to tell a story with data.
19 October 2020 · 3 min read
Working from Home Essentials for the Financial Modeller
Working from home is the new normal - here I list my essential working from home items to make your home your productivity paradise.
18 October 2020 · 5 min read
Data Analytics in Finance
Data Analytics in Finance Any Financial Modelling Podcast listener will know that data is a passion of mine. In the past few years, the finance world has woken up to the power of data - from hedge funds to traders. Citad
30 July 2020 · 2 min read
Analytics Zen - The Art of Mindful Analytics
Analytics Zen - The Art of Mindful Analytics A while back while doing a presentation for some executives, I came across a methodology for creating presentations called Presentation Zen. While there are a number of princi
30 July 2020 · 2 min read
Online Financial Modelling Training
Online Financial Modelling Training I get numerous requests for online training - specifically on project finance modelling. As I’ve written about before, project finance modelling is one of the most complex forms of fin
25 March 2020 · 4 min read
Project Life Cover Ratio - PLCR
The PLCR, together with the DSCR and LLCR, provide a holistic view of a project's ability to repay and restructure its debt. Matthew Bernath Tweet The Key Project Finance Ratios In a Project Finance Model there are three
5 February 2020 · 5 min read
Project Finance Risks and Mitigants
Project Finance Risks and Mitigants Successful project financiers understand the risks involved in project finance and know how to successfully allocate them to the best parties capable of dealing with them. Full risk mi
10 January 2020 · 1 min read
Knowing the Difference - Governing AI
Knowing the Difference*: Artificial Intelligence Governance *This article is based on a Fortune magazine article I read recently and highlights the need for Artificial Intelligence Governance. Headlines have been blaming
17 November 2019 · 4 min read
Arixcel Explorer: Add-in for Microsoft Excel
Arixcel Explorer: Add-in for Microsoft Excel Why use Excel Add-Ins? If you have listened to one of my podcasts, you may have heard me wonder why more Excel users aren’t using Excel add-ins. To me, this is the equivalent
31 August 2019 · 3 min read
What is a Debt Service Reserve Account?
What is a Debt Service Reserve Account, or DSRA? In Project Finance, a Debt Service Reserve Account (‘DSRA’), is a reserve account specifically set aside to make debt payments in the event of a disruption of cashflows to
31 August 2019 · 4 min read
What is a Loan Life Cover Ratio?
The Loan Life Cover Ratio - What Is It and How Is It Calculated If anyone has looked at a financial model and seen a Debt Service Cover Ratio (DSCR) and a Loan Life Cover Ratio (LLCR), they might ask why does the LLCR ev
31 August 2019 · 3 min read
What is Debt Sculpting?
What is Debt Sculpting? *Note: This article has an accompanying Excel file and podcast on debt sculpting. Debt sculpting is a powerful tool in debt structuring and project finance . Debt sculpting can be used to maximise
31 August 2019 · 3 min read
Getting a Bank Onboard
Getting a Bank Onboard In today's fast-paced and competitive business landscape, securing the right financing is crucial for the success of any project or deal. One of the most reliable and time-tested sources of funding
31 August 2019 · 2 min read
The Financial Model Audit
What is the Financial Model Audit? Why is the auditing of financial models so important, and who does it? World-renowned model auditors will audit everything in your financial model, from the technical assumptions to the
31 August 2019 · 4 min read
What is a PPP?
Public Private Partnerships – Leveraging private sector investment and capital to deliver public infrastructure If you have ever worked in project finance, you have probably heard of a Public-Private Partnership or PPP.
31 August 2019 · 4 min read
The Coffice
The Coffice, or Coffee Shop Office I do my best creative work in coffee shops – and that includes building financial models from the ground up and financial engineering! I have turned my favourite coffee shops into offic
31 August 2019 · 3 min read
What is a Financial Close Model vs. an Operational Financial Model?
What is a Financial Close Model vs. an Operational Financial Model? Most project financiers will agree that a project finance model is one of the most complicated financial models to build. What happens when a project re
31 August 2019 · 3 min read
DealTech Part 3- Let’s Get Practical
DealTech – Let’s Get Practical In the previous two DealTech articles, I discussed how DealTech could revolutionise investment banking through automation and optimisation. In the first article , I introduced the concept o
31 August 2019 · 4 min read
DealTech Part 2 – Where Can DealTech Work in Investment Banking
For DealTech, We Must Ask What is a Deal Anyway? DealTech has many uses in structuring deals, but how can it be applied? When looking at an investment banking deal, one can roughly break it down into the following compon
31 August 2019 · 4 min read
DealTech - A Combination of Deal Making and Data Science
DEALTECH – A COMBINATION OF DEAL MAKING AND DATA SCIENCE DealTech – what is this? Well according to me, it’s a word I made up! However, according to Google its the name of a few companies and products that exist already.
31 August 2019 · 4 min read
Can you be a Professional Financial Modeller?
Can you be a Professional Financial Modeller? Can you make a profession out of financial modelling? Is an entrepreneurial spirit, financial modelling skills and some drive enough to build a business out of financial mode
31 August 2019 · 3 min read
Five Financial Models Tips to Make Models Easier to Understand, Use and Audit
Financial models can be scary and even daunting – especially when you haven’t built them! Maybe you are a financier or model auditor trying to figure out what a model is trying to tell you. Using the five financial model
31 August 2019 · 4 min read
Why is Project Finance Modelling so complicated?
So, what is Project Finance? What differentiates it from corporate or leveraged finance? And why does it suit infrastructure projects? And what are infrastructure financing models all about?
31 August 2019 · 8 min read
Financial Modelling for Entrepreneurs
Financial Modelling for Entrepreneurs - A Key Skill Entrepreneurship is an exciting journey filled with countless opportunities and challenges, and in the world of business, making well-informed decisions is crucial for
31 August 2019 · 4 min read
Will data science disrupt financial modelling?
Is the financial modelling profession dead, and if not will it be disrupted by data science like so many other industries? The answer is a little more complicated than a simple yes or no.
31 August 2019 · 3 min read
Funding your Dreams – Finance for Entrepreneurs
The average entrepreneur does not have a comfortable understanding of finance. This allows them to miss opportunities to save money, streamline processes, and raise capital. In addition, it sometimes means that they don’t optimise the...
31 August 2019 · 4 min read
Forecasting
Mastering the Art of Forecasting: A Key to Strategic Decision-Making and Business Success Forecasting – the ability to foresee the future, analyse trends and make semi-accurate predictions allows the entrepreneur to be p
31 August 2019 · 3 min read
Financial Models Models Models
Demystifying Financial Models As a business owner, when talking about models, you are talking about financial models. The type of model that shows you where your business is going to be in five years time. The type of mo
31 August 2019 · 3 min read
The Future of Financial Modelling with Lance Rubin
Despite the fact that artificial intelligence, automation and machine learning are so widely discussed at the moment, Microsoft Excel remains one of the most commonly used tools in any finance department. Financial Modelling continues...
31 August 2019 · 1 min read