Become a better Modeler by developing a decision-making mindset: Hedieh Kianyfard
Financial Modeler's Corner
Dealing with Complex Black Box Models
The speakers discuss the challenges of understanding and utilizing complex black box models in financial modeling. They share examples of projects that faced delays and extra costs due to the complexity of the models, emphasizing the importance of recognizing when a model is too complex to be effectively used.
Welcome to Financial Modeler's Corner (FMC) where we discuss the art and science of financial modeling with your host, Paul Barnhurst. Financial Modeler's Corner is sponsored by Financial Modeling Institute (FMI) the most respected accreditations in Financial Modeling globally.
In this episode, Paul Barnhurst is joined by Hedieh Kianyfard, who is the founder of Finexmod. This is the website where Hedieh shares her views on financial modeling and shows that it’s possible to have fun with finance.
Hedieh is passionate about economic development and aims to make financial modeling easy and fun for everyone.
Listen to this episode as Hedieh shares:
- Her journey and background in financial modeling
- Her experience and learning from the worst models that she came across
- How Hedieh considers Modeling as a great career and more than a stepping stone.
- Responsibility as a modeler to reject bad projects and help ensure good projects are accepted.
- Everything about her book- Financial Modeling Detective
- 10 Financial Modeling Commandments
- Why people should avoid circular references – hint they are the devil 😊
- The importance of having a decision-making mindset
- Her position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, and more
Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast’.
Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.
Quotes:
“A Financial Modeler is like a Fortune Teller.”
“Modeling is a great career and more than a stepping stone.”
“ It’s important to put yourself, in the end, users' shoes to understand their needs better. ”
“ As modelers we have a responsibility to reject bad projects and help ensure good projects are accepted. ”
Follow Hedieh:
Website - https://www.finexmod.com/
LinkedIn - http://linkedin.com/in/hediehkianyfard
Instagram - https://instagram.com/finexmod
Facebook - https://m.facebook.com/people/Finexmod/100063965894693/
Youtube - https://youtube.com/@FinancialModelDetective
The Interpolate-Lookup function as explained by Professor Edward Bodmer- https://edbodmer.com/interpolate-lookup-function/
Financial Model Detective Book: Financial Model Detective: Hints and tricks for review of financial models: Kianyfard, Hedieh: 9781074174606: Amazon.com: Books
Follow Paul:
Website - https://www.thefpandaguy.com/
LinkedIn - https://www.linkedin.com/in/thefpandaguy/
Instagram - https://www.instagram.com/thefpandaguy/
TikTok - https://www.tiktok.com/@thefpandaguy
Twitter - https://twitter.com/TheFPandAGuy
YouTube - https://www.youtube.com/@thefpaguy8376
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In today’s episode:
(00:22) Intro;
(00:45) Welcoming Hedieh;
(01:06) The worst financial model Hedieh has ever seen ;
(03:26) Hedieh’s key learning experience from the worst financial model ;
(06:23) Hedieh’s background;
(09:35) About Hedieh’s website - Finexmod
(10:23) About Hedieh’s book - Financial Modeling Detective
(12:25) Why is it important to have someone audit Financial Models
(16:12) Financial Model Ten Commandments
(17:31) Rule 9 - Why people should avoid circular references
(19:21) Rule 10 - The Modeler shouldn’t be selfish
(21:15 - 22:02) Validate your Financial Modeling Skills with FMI’s Accreditation Program (ad);
(22:03) The decision makers mindset;
(26:31) How to develop that decision making mindset;
(28:30) What is the process of infrastructure project;
(30:58) Rapid Fire;
(35:31) When did Hedieh realize Financial Modeling as a career
(37:31) Connect with Hedieh;
(38:32) Paul’s best picks:
(40:50) CPE Credit with this episode;
(41:20) Outro
Go to https://earmarkcpe.com , download the app, take the quiz and you can receive CPE credit.
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