Dell Inc

Source: Yahoo
Date
Open
High
Low
18-Apr-05
35.36
35.85
15-Apr-05
35.46
36.06
14-Apr-05
36.95
37.03
13-Apr-05
37.53
37.69
12-Apr-05
37.85
37.92
11-Apr-05
38.27
38.34
08-Apr-05
38.69
38.7
07-Apr-05
38.41
38.56
06-Apr-05
39.1
39.15
05-Apr-05
38.65
39.16
04-Apr-05
38.04
38.95
01-Apr-05
38.53
38.61
31-Mar-05
38.47
38.95
30-Mar-05
38.13
38.73
29-Mar-05
38.13
38.45
28-Mar-05
38.5
38.62
24-Mar-05
38.47
38.9
23-Mar-05
38.05
38.62
22-Mar-05
38.32
38.7
21-Mar-05
38.51
38.57
18-Mar-05
38.21
38.66
17-Mar-05
38.65
38.73
16-Mar-05
38.95
39.2
15-Mar-05
39.51
39.58
14-Mar-05
39.68
39.8
11-Mar-05
40.46
40.46
10-Mar-05
40.16
40.3
09-Mar-05
40.21
40.48
08-Mar-05
40.3
40.61
07-Mar-05
40.63
40.85
04-Mar-05
40.44
40.93
03-Mar-05
40.23
40.39
02-Mar-05
40.32
40.75
01-Mar-05
40.16
40.53
28-Feb-05
40.15
40.29
25-Feb-05
40.13
40.33

WALL ST. TRAINING

35.29
35.34
36.08
36.89
37.21
37.73
38.1
37.92
37.92
38.65
38.01
38.02
38.29
37.85
37.99
38.12
38.3
38.04
38.04
37.96
38.02
38.14
38.6
39
39.16
39.5
39.81
39.99
40.2
40.33
40.32
39.95
40.19
40.09
39.75
39.88

Close
35.37
35.56
36.18
36.91
37.61
37.89
38.18
38.5
38.15
39.13
38.68
38.03
38.42
38.55
38.14
38.18
38.38
38.43
38.04
38.42
38.5
38.2
38.7
39.06
39.5
39.71
40.17
40.16
40.22
40.49
40.87
40
40.29
40.4
40.09
40.2

Volume
Adj. Close*
13937600
35.37
22655500
35.56
23239200
36.18
15228600
36.91
21964300
37.61
11249700
37.89
13330900
38.18
18571500
38.5
27468700
38.15
12251700
39.13
16324600
38.68
15541500
38.03
13003300
38.42
10980200
38.55
10815000
38.14
10304100
38.18
12037500
38.38
12613600
38.43
13137500
38.04
14381500
38.42
19067000
38.5
16566800
38.2
15539000
38.7
14045600
39.06
18208700
39.5
17618200
39.71
12563200
40.17
11660300
40.16
11266300
40.22
16400500
40.49
18794200
40.87
17142700
40
11323600
40.29
14001200
40.4
20046900
40.09
10759300
40.2

www.wallst-training.com

Alternatives and Examples of Switches

OPTIONS and SYNTAX:

Pros

Cons

if
choose
offset

easy for 2 cases

easy to understand
unlimited cases

limited to 7 nested if loops,

non transparent for more than 2 logical tests
limited to 29 options
tedious to code, harder to check

=IF(logical_test,value_if_true,value_if_false)
=CHOOSE(index_num,value1,value2,...)
=OFFSET(reference,rows,cols)

Case
1
2
3

Scenarios
Growth
10%
15%
20%

Select Case:

Margin
5%
6%
7%

IF FUNCTION
1)
2)

Growth
10%
10%

Margin
NA need to anchor the case number
5% slightly more transparent

OFFSET FUNCTION
Example:
Reference Cell:
# of
rows
down

IF function is not as transparent when you exceed 2 options.

It is more difficult to follow, but makes more intuitive sense.

0
1
2
3
4
5

1
1,1
2,1
3,1
4,1
5,1

# of columns across
2
3
1,2
1,3
2,2
2,3
3,2
3,3
4,2
4,3
5,2
5,3

4
1,4
2,4
3,4
4,4
5,4

5
1,5
2,5
3,5
4,5
5,5

3 rows down, 2 columns across from the reference cell: 3,2

CHOOSE FUNCTION
Growth
10%

Margin
5%

Growth
10%

CHOOSE function is transparent and easy to follow.

Best tradeoff between power and ease of use.

Margin
5% use the label as the reference cell
and the case number as the offset variable

OFFSET function is the most versatile, but more difficult to code and to check.
But once it's coded, it is extremely powerful.

For switches that require only a "Yes" or "No", the easiest alternative is not an IF, CHOOSE or OFFSET statement, but simply to multiply by 0 or 1.
A 0 signifies "No" or "Off" (lack of) and a 1 signifies "Yes" or "On".
For example:
Refinance Existing Debt?
Total Existing Debt:

1
$1,000.0

New Debt
Existing Debt

$2,000.0
1,000.0

Total New Debt Raised

$3,000.0

This removes the need for an if statement or any other function, greatly eases coding and is transparent and easy to follow.

WALL ST. TRAINING

www.wallst-training.com

LEAST SQUARES REGRESSION

QUESTION
A five year growth rate could be determined by calculating the growth between
EPS 6 years ago and the current fiscal year EPS. I have noticed however,
that some firms use a least squares method to calculate growth, which
provides a growth rate that better fits the increase in EPS values over each
year within a 5 year period.

$ 1.80
y = 0.1403x + 0.8873
R = 0.9894

$ 1.60
$ 1.40

Do you know how to calculate this least squares growth rate using Excel? Are
there any sources that you may know about that describes this calculation in
a form that can be easily translated into an Excel format?

$ 1.20

RESPONSE
y = mx + b is the equation that minimizes the squared differences.
In general you always want to calcualte average growth anyway and that
can be done thru a CAGR approach which, in effect, sort of proxies a
least square approach already. Think of the straight line in the chart
at the right it doesn't really matter how eps got from $1.00 to $1.70,
but it got there with an "average" growth of 11.2% each year.

$ 0.80

$ 1.00

If you refer to a statistics textbook or Excel help, you will see the following:
LINEST Function: Calculates the statistics for a line by using the "least squares" method to calculate a straight
line that best fits your data, and returns an array that describes the line.

Don't forget your end goal: to calculate forecasted EPS!

In general, I would calculate EPS growth in one of the following ways:
1) Growth from internal mgmt projections this is probably the best
growth rate to use. Without this, use analyst estimates.
2) Analyst Estimates this is ideal since you can point and say,
this is what Wall Street says. Who better than to refer to, unless
you are research analyst in charge of estimating a 5-yr growth, but
then it's a moot point because you would have access to mgmt.
If you are the research analyst without access to mgmt, you would
be doing your own research and building your own financial model
anyway and therefore would have your own estimate already.
3) Historical CAGR
4) Industry projections (be sure to adjust for firm specific differences)
Period
1
2
3
4
5
6
7
8

EPS Growth CAGR Check

$ 1.00
1.20
20.0%
1.30
8.3%
1.45
11.5%
1.62
11.7%
1.70
4.9%
11.2%
1.87
10.0%
$ 1.87
2.01
7.5%
8.7%
2.01

actual
slope intercept
forecast
14.03% 0.887
WALL ST. TRAINING

In regression analysis, Microsoft Excel calculates for each point the squared difference between the y-value
estimated for that point and its actual y-value. The sum of these squared differences is called the residual sum of
squares. Microsoft Excel then calculates the sum of the squared differences between the actual y-values and the
average of the y-values, which is called the total sum of squares (regression sum of squares + residual sum of
squares). The smaller the residual sum of squares is, compared with the total sum of squares, the larger the
value of the coefficient of determination, r2, which is an indicator of how well the equation resulting from the
regression analysis explains the relationship among the variables.
Also, you may have Excel generate an ANOVA table: TOOLS => DATA ANALYSIS => ANOVA SINGLE
that will provide you with numeric descriptives on least squares (or sum of squared differences) to verify.
Note:
If you don't believe that the growth is linear, but rather, logarithmic or exponential, then clearly y = mx +b
would not suit your purposes. You would use another power - To illustrate, select the above chart with your
mouse and then click on CHARTS => ADD TRENDLINE => TYPE and select different types of trendlines.
To show the equation, swith to OPTIONS tab and click on Display Equation on Chart.
To directly address your question, regardless of what power you use to trend out growth or
forecasts, it is always calculated using least squares method.
Again, keep your end goal in mind and that is to calculate forecasted EPS!

www.wallst-training.com

DATA TABLE
A range of cells that shows the results of substituting different values in one or more formulas. There are two types of data tables: one-input tables and two-input tables.)
Go to DATA => TABLE and enter in either ROW or COLUMN INPUT CELL
Data Table with One Input
input
output
output

a
b=a+2
c=a*3

2
4
6

c
output cell that you want to sensitize
inputs that you want to use as drivers
bold = current matching output

1
2
3
4
5

Data Table with Two Inputs

a
2

input
input
output

a
b
c

c=a*2+b*3

1
2
8

Revenue
Growth
EBITDA
Margin

30.0
30.0%

Value of Company:
in Year 2:

Year 1
$ 110.0
10%
33.0
30.0%

Year 2
$ 121.0
10%
36.3
30.0%

Margin

Example 1:
Given certain Revenue growth and EBITDA margins,
what is the value of the company in Year 2 assuming
it is worth 7x Year 2's EBITDA?
Year 0
$ 100.0

Value of Company in Year 2:

YoY Revenue Growth
0.0%
5.0%
10.0%

15.0%

20.0%
25.0%
30.0%
35.0%
40.0%

7.0x EBITDA
= $ 254.1

Example 2:
Estimate an asset management firm's revenue given
a range of AUM (Assets Under Management) and Fees charged
$ 500.0
100.0
$ 5.0

WALL ST. TRAINING

Estimated Revenue
AUM ($MM's)
$ 250.0
$ 500.0
$ 750.0
Fee (BPS)

AUM ($MM's)
Fee (BPS)
Revenue ($MM's)

1
2
3
4
5

$ 1,000.0

75.0
100.0
125.0
150.0
175.0
4

www.wallst-training.com

VLOOKUP EXPLANATION
Searches for a value in the leftmost column of a table, and then returns a value in the same row from a column you specify in the table.
The V in VLOOKUP stands for "Vertical."

1st
2nd
Corresponding Corresponding
ID Number
Number
Number
142319
756096
2123
214099
622747
1334
222279
813299
971
292039
429388
2699
327666
234559
985
618840
620124
2555
715908
205941
1293
831016
761369
375
835463
134530
1128
841424
445161
4422
881937
209245
2941

WALL ST. TRAINING

Look up the 1st and 2nd corresponding number for ID Number:

327666

www.wallst-training.com

Dell Inc
Date
Open
High
Low
Close
Volume
Adj. Close*
1/3/2000
51.38
51.88
48.31
50.88
35931600
50.88
1/4/2000
48.06
49.25
46.5
46.63
36143700
46.63
1/5/2000
47
50.06
46.88
49.94
51134200
49.94
1/6/2000
47.56
49.13
47.06
48
28913700
48
1/7/2000
47.06
47.98
44.88
46.19
45193000
46.19
1/10/2000
46.44
46.5
43.75
44.13
41094800
44.13
1/11/2000
43.56
44.63
42.5
42.81
33892500
42.81
1/12/2000
43
44
41.75
41.81
30608900
41.81
1/13/2000
43.06
43.69
42.63
43.13
33030000
43.13
1/14/2000
44.31
46.06
43.88
44
41192000
44
1/18/2000
43.88
44
41.94
42.06
32465000
42.06
1/19/2000
41.75
42.97
41
42.5
28433400
42.5
1/20/2000
43.69
44.44
42.5
43.75
27533900
43.75
1/21/2000
43.88
44.75
43.44
43.75
22001700
43.75
1/24/2000
42.55
43.13
41.31
41.56
30987500
41.56
1/25/2000
41.5
42.63
40.75
42.13
22614500
42.13
1/26/2000
41.06
42
39.5
40.38
22359500
40.38
1/27/2000
39.55
41
37.44
37.56
22770500
37.56
1/28/2000
37.88
39.56
37.06
37.25
50129400
37.25
1/31/2000
37.5
38.56
37
38.44
34099800
38.44
2/1/2000
38.56
39.13
37.5
38.94
28727000
38.94
2/2/2000
38.88
39.19
38
38.13
24821900
38.13
2/3/2000
38.38
38.88
38.13
38.5
28688100
38.5
2/4/2000
38.56
39
38.31
38.5
18617000
38.5
2/7/2000
38.5
38.63
37.48
37.63
20531100
37.63
2/8/2000
36.94
37.81
35
37.06
69018896
37.06
2/9/2000
36.31
37.17
35.5
35.56
30260300
35.56
2/10/2000
36.25
39.25
36.13
38.8
44485800
38.8
2/11/2000
39.38
39.38
36.81
36.88
43769400
36.88
2/14/2000
37.13
37.5
36.25
36.44
24443400
36.44
2/15/2000
36.44
38.06
36
37.88
28243700
37.88
2/16/2000
37.75
38.63
37.13
38
29807200
38
2/17/2000
38.31
40.69
37.45
40.69
44101900
40.69
2/18/2000
40.06
40.5
39.69
40.06
28486600
40.06
2/22/2000
39.63
40.13
38
39.81
23891600
39.81
2/23/2000
39
42.06
39
41.38
38281700
41.38
2/24/2000
41.5
43.44
41.06
42.38
61460000
42.38
2/25/2000
43.63
43.81
41
41.25
29408900
41.25
2/28/2000
40.25
41.13
39.5
41
28549100
41
2/29/2000
40.69
41
39.63
40.81
26957500
40.81
3/1/2000
40.19
43.19
39.94
43.02
56355200
43.02
3/2/2000
42.19
45
41.88
44.94
53104100
44.94
WALL ST. TRAINING

PROBLEM:
Look up month end closing price and volume
SOLUTION:
Date
1/31/2000
2/29/2000
3/31/2000
4/30/2000
5/31/2000
6/30/2000
7/31/2000
8/31/2000
9/30/2000
10/31/2000
11/30/2000
12/31/2000
1/31/2001
2/28/2001
3/31/2001
4/30/2001
5/31/2001
6/30/2001
7/31/2001
8/31/2001
9/30/2001
10/31/2001
11/30/2001
12/31/2001
1/31/2002
2/28/2002
3/31/2002
4/30/2002
5/31/2002
6/30/2002
7/31/2002
8/31/2002
9/30/2002
10/31/2002
11/30/2002
12/31/2002
1/31/2003
2/28/2003
6

Price

Volume

www.wallst-training.com

List of institutions that have invested in certain alternative asset classes

Summarize results in a coherent manner
=> CREATE PIVOT TABLE

Count
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70

Name of Institution
Type
XYZ Company
Foundation
XYZ Company
Public
XYZ Company
Foundation
XYZ Company
Foundation
XYZ Company
Corporate
XYZ Company
Endowment
XYZ Company
Endowment
XYZ Company
Foundation
XYZ Company
Corporate
XYZ Company
Foundation
XYZ Company
Corporate
XYZ Company
Foundation
XYZ Company
Public
XYZ Company
Corporate
XYZ Company
Corporate
XYZ Company
Foundation
XYZ Company
Foundation
XYZ Company
Endowment
XYZ Company
Corporate
XYZ Company
Corporate
XYZ Company
Foundation
XYZ Company
Public
XYZ Company
Foundation
XYZ Company
Public
XYZ Company
Public
XYZ Company
Public
XYZ Company
Corporate
XYZ Company
Endowment
XYZ Company
Endowment
XYZ Company
Corporate
XYZ Company
Public
XYZ Company
Endowment
XYZ Company
Endowment
XYZ Company
Foundation
XYZ Company
Corporate
XYZ Company
Corporate
XYZ Company
Endowment
XYZ Company
Corporate
XYZ Company
Foundation
XYZ Company
Foundation
XYZ Company
Foundation
XYZ Company
Corporate
XYZ Company
Corporate
XYZ Company
Endowment
XYZ Company
Corporate
XYZ Company
Public
XYZ Company
Corporate
XYZ Company
Endowment
XYZ Company
Public
XYZ Company
Public
XYZ Company
Endowment
XYZ Company
Public
XYZ Company
Public
XYZ Company
Foundation
XYZ Company
Public
XYZ Company
Public
XYZ Company
Endowment
XYZ Company
Endowment
XYZ Company
Corporate
XYZ Company
Endowment
XYZ Company
Public
XYZ Company
Public
XYZ Company
Foundation
XYZ Company
Corporate
XYZ Company
Foundation
XYZ Company
Corporate
XYZ Company
Public
XYZ Company
Foundation
XYZ
Company
Endowment
WALL
ST. TRAINING

XYZ Company
Corporate

Region Product Type AUM ($MM)

Europe
Private Equity
$ 158,865
Asia
HFOF
$ 138,042
Asia
Real Estate
$ 155,570
N. AmericaAlternatives
$ 96,905
Asia
PE FOF
$ 148,483
Asia
Hedge Fund
$ 93,160
N. AmericaReal Estate
$ 166,681
N. AmericaPE FOF
$ 14,171
N. AmericaPE FOF
$ 16,018
N. AmericaReal Estate
$ 151,393
Europe
PE FOF
$ 76,621
Europe
Real Estate
$ 138,571
Europe
Alternatives
$ 143,151
Europe
Hedge Fund
$ 132,701
N. AmericaReal Estate
$ 102,919
N. AmericaAlternatives
$ 8,307
Asia
Real Estate
$ 28,279
Europe
PE FOF
$ 166,449
N. AmericaPE FOF
$ 138,669
N. AmericaHFOF
$ 112,476
Europe
Private Equity
$ 64,438
Asia
HFOF
$ 85,761
Asia
Private Equity
$ 98,000
N. AmericaHedge Fund
$ 96,798
Europe
Alternatives
$ 94,869
N. AmericaHFOF
$ 149,255
N. AmericaHedge Fund
$ 76,673
Europe
PE FOF
$ 50,751
Asia
HFOF
$ 66,476
N. AmericaReal Estate
$ 105,983
N. AmericaPE FOF
$ 97,941
N. AmericaPE FOF
$ 124,394
Europe
PE FOF
$ 117,920
N. AmericaHFOF
$ 138,994
N. AmericaAlternatives
$ 104,866
Asia
PE FOF
$ 127,641
N. AmericaPE FOF
$ 8,469
N. AmericaPE FOF
$ 14,655
Europe
Private Equity
$ 173,175
Europe
PE FOF
$ 197,882
Europe
Hedge Fund
$ 37,794
N. AmericaReal Estate
$ 13,264
Europe
Alternatives
$ 108,544
Europe
Hedge Fund
$ 49,763
Asia
PE FOF
$ 164,980
N. AmericaHedge Fund
$ 109,337
N. AmericaHFOF
$ 36,990
Asia
Alternatives
$ 123,511
Asia
HFOF
$ 44,777
Asia
Private Equity
$ 199,874
Asia
Alternatives
$ 7,417
Asia
Private Equity
$ 80,390
Asia
Private Equity
$ 149,029
Asia
Alternatives
$ 60,311
Asia
Alternatives
$ 155,056
Europe
Hedge Fund
$ 42,571
Asia
Real Estate
$ 128,182
Asia
Private Equity
$ 120,617
N. AmericaHedge Fund
$ 20,957
Europe
Private Equity
$ 65,607
Asia
HFOF
$ 173,286
N. AmericaHFOF
$ 80,680
Europe
Private Equity
$ 75
Asia
Real Estate
$ 174,673
Asia
HFOF
$ 106,069
Asia
PE FOF
$ 147,350
N. AmericaAlternatives
$ 170,086
Europe
PE FOF
$ 59,631
Asia
Real Estate
$ 81,1937
Asia
Private Equity
$ 41,811

% AUM in
Product
3.5%
12.3%
3.0%
11.5%
6.7%
19.5%
4.2%
2.6%
10.2%
13.3%
7.6%
23.9%
9.6%
12.5%
17.3%
6.4%
20.2%
19.4%
1.7%
19.5%
21.7%
7.2%
2.1%
0.4%
8.3%
24.4%
22.5%
0.2%
8.0%
8.8%
16.0%
18.9%
19.4%
7.6%
17.1%
5.7%
17.3%
20.4%
13.5%
4.2%
23.3%
4.0%
16.4%
6.4%
7.3%
21.0%
14.0%
13.7%
12.3%
21.1%
4.0%
15.5%
16.4%
19.0%
21.0%
7.3%
5.5%
6.2%
7.8%
8.5%
12.1%
9.0%
4.7%
12.2%
3.1%
3.5%
16.5%
12.2%
24.3%
3.2%

www.wallst-training.com

PIVOT TABLE WITH BUILT IN CALCULATIONS

You have been keeping track of various client engagements throughout the last year, specifically revenue per project and hours spent on each project.
You would like to summarize the following by Client: Total Revenue, % of Revenue, Total Hours, % of Total Hours and Revenue per Hour
Notes:
1) Calculate % Total field using built-in function
for % of Revenue and % of Total hours
2) Create a "calculated field" to automate calculation
of Rev per Hour for each client

Client
ABC
DEF
XYZ
ABC
DEF
XYZ
ABC
DEF
XYZ
ABC
DEF
XYZ
ABC
DEF
XYZ
ABC
DEF
XYZ
ABC
DEF
XYZ
ABC
DEF
XYZ
ABC

Project Code
10034
18663
15629
9033
9963
3986
13068
7067
10855
12268
19475
144
6441
7105
90
18592
19643
10499
18927
19409
276
12591
12853
9018
9044

Revenue
$ 11,651.0
19,825.0
2,907.0
15,722.0
8,644.0
965.0
5,134.0
7,312.0
16,865.0
12,962.0
8,124.0
12,678.0
10,457.0
521.0
5,348.0
7,901.0
4,784.0
4,659.0
16,157.0
2,521.0
3,399.0
7,363.0
19,565.0
14,717.0
18,699.0

Hours
2
23
5
22
8
49
30
2
44
8
20
22
29
49
47
41
38
38
40
22
26
47
10
17
18

14467

$ 3,765.0

WALL ST. TRAINING

www.wallst-training.com

 WALL ST. TRAINING

www.wallst-training.com

A
B
C
D
E
F
1
2
3
4
5
6
7 SUMIF
8 Sum up the entry column for each different Dept & Account
9
10
Dept
Account
Entry
Combined Acct No.
11
101
21008
810,934.65
12
101
21406
264,766.71
13
101
26072
113,175.60
14
101
26088
580,883.87
15
101
26139
253,057.11
16
101
21008
97,976.89
17
101
21406
104,899.18
18
101
26072
30,869.15
19
101
26088
198,465.56
20
101
26139
72,114.37
21
101
21008
108,099.79
22
101
21406
39,030.03
23
101
26072
3,049.75
24
101
26088
1,968.65
25
101
26139
21,563.14
26
101
21008
9,585.66
27
101
21406
7,359.43
28
101
26072
28,038.71
29
101
26088
163.38
30
101
26139
58,116.72
31
101
21008
4,382.54
32
101
21406
405,467.32
33
101
26072
132,383.35
34
101
26088
56,587.80
35
101
26139
290,441.93
36
101
21008
126,528.55
37
101
21406
48,988.45
38
101
26072
52,449.59
39
101
26088
15,434.57
40
101
26139
99,232.78
41
101
21008
36,057.18
42
101
21406
54,049.90
43
101
26072
19,515.01
44
101
26088
1,524.87
45
101
26139
984.33
46
101
21008
10,781.57
47
101
21406
4,792.83
48
101
26072
3,679.72
49
101
26088
14,019.36
50
101
26139
81.69
51
4,181,501.69

WALL ST. TRAINING

KEY
Dept
Account
101
21008
101
21406
101
26072
101
26088
101
26139

10

Approach 1
Manual

Approach 2
SUMIF

Approach 3
SUM+IF

www.wallst-training.com

M
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51

WALL ST. TRAINING

11

www.wallst-training.com

SUBTOTAL and AUTOFILTER ILLUSTRATION

Multi-Family REIT Acquisitions
1997-98 YTD

Company Name
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Amli Residential Properties
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt
Apartment Investment and Mgmt

WALL ST. TRAINING

Ticker
AML
AML
AML
AML
AML
AML
AML
AML
AML
AML
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV
AIV

Property Name
Amli at Clairmont
Amli at Conner Farms
Amli at Regents Crest
Amli at Town Center
Amli at Poplar Creek
Amli at Bent Tree
Amli at Bishop's Gate
Amli at Lantana Ridge
Amli at Verandah
Amli at Danada Farms
Heather Ridge II
Arbor Station
Casa Anita
Cobble Creek
Rio Cancion
San Marina
Sundown Village
Crossings at Bell
Steeplechase
Fisherman's Landing
Foxchase
Forest Place-100
Point West
Arbors
Beacon Hill
Blossomtree
Brant Rock
Colonnade Gardens
Foothills
Foxbay
Foxtree
Freedom Place Club
Hazeltree
Hiddentree
Hills
Islandtree
Olmos Club
Orchidtree
Pine Creek
Polo Park
Quailtree
Rivercrest

City
Atlanta
Indianapolis
Kansas City
Kansas City
Schaumburg
Dallas
Plano
Austin
Arlington
Wheaton
Arlington
Montgomery
Phoenix
Tucson
Tucson
Phoenix
Tucson
Amarillo
Tyler
Bradenton
Alexandria
Oak Park
Lenexa
Tempe
Chamblee
Scottsdale
Houston
Phoenix
Tucson
Tucson
Tempe
Jacksonville
Phoenix
East Lansing
Austin
Whitemarsh Island
San Antonio
Scottsdale
Clio
Midland
Phoenix
Tucson

State
GA
IN
KS
KS
IL
TX
TX
TX
TX
IL
TX
AL
AZ
AZ
AZ
AZ
AZ
TX
TX
FL
VA
IL
KS
AZ
GA
AZ
TX
AZ
AZ
AZ
AZ
FL
AZ
MI
TX
GA
TX
AZ
MI
TX
AZ
AZ

Region
SE
MW
MW
MW
MW
SW
SW
SW
SW
MW
SW
SE
WE
WE
WE
WE
WE
SW
SW
SE
SE
MW
MW
WE
SE
WE
SW
WE
WE
WE
WE
SE
WE
MW
SW
SE
SW
WE
MW
SW
WE
WE

12

Acquisition Acquisition
Portfolio
Percent
Date
Price ($000) Acquisition? Owned
1/21/98
18,400
No
100
12/22/97
21,700
Yes
100
12/22/97
25,600
Yes
25
12/22/97
13,750
Yes
100
12/18/97
12,500
No
100
10/17/97
19,000
No
100
10/17/97
23,000
No
100
9/30/97
23,838
No
100
3/25/97
25,400
No
35
2/28/97
48,400
No
10
4/30/98
2,000
No
100
4/15/98
11,400
No
100
3/30/98
8,587
Yes
100
3/30/98
11,539
Yes
100
3/30/98
14,529
Yes
100
3/30/98
15,295
Yes
100
3/30/98
12,650
Yes
100
1/1/98
3,250
No
100
1/1/98
9,750
No
100
12/1/97
8,500
No
100
12/1/97
107,700
No
100
11/15/97
23,122
No
72.05
11/15/97
6,527
No
61.88
10/31/97
6,446
Yes
100
10/31/97
3,868
Yes
100
10/31/97
4,029
Yes
100
10/31/97
2,708
Yes
100
10/31/97
6,318
Yes
100
10/31/97
8,703
Yes
100
10/31/97
7,478
Yes
100
10/31/97
15,697
Yes
100
10/31/97
11,346
Yes
100
10/31/97
9,992
Yes
100
10/31/97
8,413
Yes
100
10/31/97
10,604
Yes
100
10/31/97
6,962
Yes
100
10/31/97
4,319
Yes
100
10/31/97
8,961
Yes
100
10/31/97
7,510
Yes
100
10/31/97
5,931
Yes
100
10/31/97
5,931
Yes
100
10/31/97
6,769
Yes
100

# of
Units
288
300
368
156
196
300
266
354
538
600
72
264
224
301
379
399
330
160
484
200
2113
234
NA
200
120
125
84
196
270
232
487
352
310
261
329
216
134
278
233
184
184
210

Occupancy Cap Rate

NA
NA
93
NA
93
NA
86
NA
91
NA
94
NA
92
NA
87
NA
94
NA
92
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
96
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA

www.wallst-training.com

AUTOMATED ROW SHADING

Count
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Name of Institution
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company
XYZ Company

Type
Foundation
Public
Foundation
Foundation
Corporate
Endowment
Endowment
Foundation
Corporate
Foundation
Corporate
Foundation
Public
Corporate
Corporate
Foundation
Foundation
Endowment
Corporate
Corporate
Foundation
Public
Foundation
Public
Public

WALL ST. TRAINING

Region Product Type AUM ($MM)

Europe
Private Equity
$ 158,865
Asia
HFOF
$ 138,042
Asia
Real Estate
$ 155,570
N. America Alternatives
$ 96,905
Asia
PE FOF
$ 148,483
Asia
Hedge Fund
$ 93,160
N. America Real Estate
$ 166,681
N. America PE FOF
$ 14,171
N. America PE FOF
$ 16,018
N. America Real Estate
$ 151,393
Europe
PE FOF
$ 76,621
Europe
Real Estate
$ 138,571
Europe
Alternatives
$ 143,151
Europe
Hedge Fund
$ 132,701
N. America Real Estate
$ 102,919
N. America Alternatives
$ 8,307
Asia
Real Estate
$ 28,279
Europe
PE FOF
$ 166,449
N. America PE FOF
$ 138,669
N. America HFOF
$ 112,476
Europe
Private Equity
$ 64,438
Asia
HFOF
$ 85,761
Asia
Private Equity
$ 98,000
N. America Hedge Fund
$ 96,798
Europe
Alternatives
$ 94,869

13

% AUM in
Product
3.5%
12.3%
3.0%
11.5%
6.7%
19.5%
4.2%
2.6%
10.2%
13.3%
7.6%
23.9%
9.6%
12.5%
17.3%
6.4%
20.2%
19.4%
1.7%
19.5%
21.7%
7.2%
2.1%
0.4%
8.3%

www.wallst-training.com

A
B
C
D
E
1
2
3
4
5
6
7 TRANSPOSE, INDIRECT
8 You have a block of data and you would like to transpose the data, but maintaining references in case of updates to the data
9
10
Source Data
11
Date
WMT
Retailer Index S&P 500
12
4/11/2005
100.0
100.0
100.0
13
4/12/2005
100.2
100.8
100.6
14
4/13/2005
100.1
99.4
99.4
15
4/14/2005
98.9
97.5
98.4
16
4/15/2005
98.3
95.2
96.7
17
4/18/2005
98.7
95.9
97.0
18
4/19/2005
98.1
95.5
97.6
19
4/20/2005
97.6
93.0
96.3
20
4/21/2005
98.5
95.3
98.2
21
4/22/2005
96.5
91.6
97.5
22
4/25/2005
96.9
93.4
98.4
23
4/26/2005
96.9
93.5
97.5
24
4/27/2005
97.5
93.2
97.9
25
4/28/2005
97.0
92.5
96.8
26
4/29/2005
97.2
92.1
97.9
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
WALL ST. TRAINING
70
71

14

www.wallst-training.com

SEPARATING NAMES ILLUSTRATION

Problem:
Separate a list of names between First Name and Last Name using Excel functions
Note: One could use Text to Columns but many times, that is not an option especially if you
have to work within the file
Example:
John Doe
Jonathan Smith
Jolly Jane

Challenge:
First and last names are different lengths

Solution:
Use combination of the following Excel functions:
FIND
LEN
LEFT
RIGHT
Step 1

Step 2

Step 3

Step 4

Step 5

John Doe
Jonathan Smith
Jolly Jane

WALL ST. TRAINING

15

www.wallst-training.com

DROP BOX ALTERNATIVES

Question
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Question 10
Question 11
Question 12
Question 13
Question 14
Question 15
Question 16
Question 17
Question 18
Question 19
Question 20
Question 21
Question 22
Question 23
Question 24
Question 25
Question 26
Question 27
Question 28
Question 29
Question 30
Question 31
Question 32
Question 33
Question 34
Question 35
Question 36
Question 37
Question 38
Question 39
Question 40
Question 41
Question 42
Question 43
Question 44
Question 45
Question 46
Question 47
Question 48
Question 49
Question 50

Answer

WALL ST. TRAINING

SUMMARIZE YOUR RESULTS

A
B
Excellent
Great
Good
OK
Poor
Total # Answers

Source List:
Please Select
Excellent
Great
Good
OK
Poor

Source List:
a
b
c
d
e
f
g
h

In Column A, use sumif formula

In Column B, use countif formula

1
2
3
4
5
6
7
8

q
w
e
r
t
y
u
i

16

www.wallst-training.com