Saving Time Bitches (Investment Banking & Private Equity)

That's right. It's summer time.

Although doing deals and pounding out diligence is sweet, the Hamptons are sweeter.

How can we save time to get out of the office faster?

Putting together a list of best practices and techniques (applicable to junior PE & banking professionals). There are a few precedent lists out there, so repaste and steel credit for other peoples' thoughtful responses.

1. Keeping paper / Excel tracker of tasks.

There are different flavors, and everyone has their own system, but keep track of tasks by time / priority.

2. Send out all external to-dos in the AM or before the weekend (eg, consultants / accountants / bankers / lawyers).

Minimizes chance of someone else's mess blowing up my weekend.

3. Expectations

Set expectations double how long you think it will take and push back as much as possible.

4. Research

Ask friends for their research logins / access. Getting good research always a pain

5. Slide templates

I save down slide templates for generic internal deliverables (company profile, diligence deck, memo, etc.) Makes it faster to fill out a new one.

6. BamSEC

BamSEC for public co financials. I don't use public co data that often anymore, but I do read 10-Ks for relevant public peers. This shaves a few seconds off grabbing the relevant files.

7. Logointern.com for logos.

Saw this on WSO a while back. Makes it way faster to grab a couple logos or make an industry overview slide (many logos).

8. Google alerts

Google alerts for relevant portcos / industries (grabbed this off WSO too).

9. Folder in outlook / on Desktop for each portco.

Includes all latest financials, correspondence, etc. Saves time when I get the: "Hey could you send the latest ___ for XYZ co? Thx."

Mod Note (Andy): top 50 posts of 2017, this one ranks #33 (based on # of silver bananas)

 

I would love it if you could PM me this too -- I just made a post on how my modelling skills are lacking, so this would be useful for me.

Go Carl Icahn though!

"I did it for me...I liked it...I was good at it. And I was really... I was alive."
 

Probably old news, but for checking I always compare the prior PDF with the new version I'm about to send and I go page-by-page alternating between the two (alt-tab). Makes it easy to see all of the changes.

Saves time, because then I have an answer when VP says "Why did this change" as opposed to scrambling to 20 minutes and looking unprepared.

 

I usually do 2 - 3x TLB (bank debt) and 2 - 3x other debt (mezz vs. TLC vs. senior notes); and typically ~1x revolver commitment, but a lot of times I swag it to get a round number.

Would be great to hear from someone in LevFin with a better illustrative read ;-)

 

>

Good list, however,

Would slightly disagree with this as seems like (now) data service providers are tracking if an account is logged in multiple times or at different IP addresses

-
 

For that matter, add "Copy as Picture" to the Quick Access Toolbar, it will show up as a green circle icon. Click it and select to copy as printed rather than as shown on the screen. Voila.

Be excellent to each other, and party on, dudes.
 

I don't get this. Why? Any changes in the Excel data are already linked directly to the Powerpoint file as long as they are in the same folder.

GoldenCinderblock: "I keep spending all my money on exotic fish so my armor sucks. Is it possible to romance multiple females? I got with the blue chick so far but I am also interested in the electronic chick and the face mask chick."
 

You should never use someone else's logins. Someone at my firm did that, the research provider tracked the IP address, sent a hostile letter threatening legal proceedings, and the letter landed on the CEO's desk. Needless to say, he doesn't work here anymore.

 

Regarding using the same excel file over and over again, you should seriously consider versioning in case the file becomes corrupted or you want to re-visit an assumption down the road. Also might help with any potential audits.

  1. Checks for existing files. Paste this into developer (alt+f11)!

Function FileExist(FilePath As String) As Boolean 'PURPOSE: Test to see if a file exists or not 'SOURCE: www.TheSpreadsheetGuru.com/The-Code-Vault 'RESOURCE: http://www.rondebruin.nl/win/s9/win003.htm

Dim TestStr As String

'Test File Path (ie "C:\Users\Chris\Desktop\Test\book1.xlsm") On Error Resume Next TestStr = Dir(FilePath) On Error GoTo 0

'Determine if File exists If TestStr = "" Then FileExist = False Else FileExist = True End If

End Function

  1. Excel version control:

Sub SaveNewVersion_Excel() 'PURPOSE: Save file, if already exists add a new version indicator to filename 'SOURCE: www.TheSpreadsheetGuru.com/The-Code-Vault

Dim FolderPath As String Dim myPath As String Dim SaveName As String Dim SaveExt As String Dim VersionExt As String Dim Saved As Boolean Dim x As Long

TestStr = "" Saved = False x = 2

'Version Indicator (change to liking) VersionExt = "_v"

'Pull info about file On Error GoTo NotSavedYet myPath = ActiveWorkbook.FullName myFileName = Mid(myPath, InStrRev(myPath, "\") + 1, InStrRev(myPath, ".") - InStrRev(myPath, "\") - 1) FolderPath = Left(myPath, InStrRev(myPath, "\")) SaveExt = "." & Right(myPath, Len(myPath) - InStrRev(myPath, ".")) On Error GoTo 0

'Determine Base File Name If InStr(1, myFileName, VersionExt) > 1 Then myArray = Split(myFileName, VersionExt) SaveName = myArray(0) Else SaveName = myFileName End If

'Test to see if file name already exists If FileExist(FolderPath & SaveName & SaveExt) = False Then ActiveWorkbook.SaveAs FolderPath & SaveName & SaveExt Exit Sub End If

'Need a new version made Do While Saved = False If FileExist(FolderPath & SaveName & VersionExt & x & SaveExt) = False Then ActiveWorkbook.SaveAs FolderPath & SaveName & VersionExt & x & SaveExt Saved = True Else x = x + 1 End If Loop

'New version saved MsgBox "New file version saved (version " & x & ")"

Exit Sub

'Error Handler NotSavedYet: MsgBox "This file has not been initially saved. " & _ "Cannot save a new version!", vbCritical, "Not Saved To Computer"

End Sub

[disclaimer: google is amazing, and this likely will need to be tweaked slightly to your file paths etc.]

Edit: on #1 change activeworkbook to activedocument

lastly start using OneNote for your tasks/list

If it isn't painfully obvious at this point start automating the repetitive tasks that take you a lot of time.

Edit: Easier yet just buy all the add in a from www.spreadsheetguru.com I think it will automate a good portion of that list.

 

adding a few others to the list...

  1. MappingIntern.com - similar to LogoIntern, but great for creating a quick map of US locations (company geo footprint, etc)

  2. Macros. Try them. One of the posters keyed me into this - great way to save time on some of the most mind numbing formatting work.

 

To trace precedents with multiple links:

  • Run the macro on a formula with multiple links

  • A dialogue box will pop up

  • Enter the number corresponding to the link you are seeking to audit (i.e., first linked number is in the leftmost part of the equation).

  • Enjoy!!

    Sub AUDIT_TRACE_PRECEDENT_2ND_LINK() On Error Resume Next LINK_NUMBER = InputBox("Link number...") Selection.ShowPrecedents ActiveCell.NavigateArrow TowardPrecedent:=True, ArrowNumber:=1, LinkNumber _ :=LINK_NUMBER

    End Sub

 

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