Excel Problem-Solving Strategies for Financial Modelers to Build Robust Models with Liam Bastick

In this engaging episode of Financial Modelers Corner, host Paul Barnhurst, aka "The FP&A Guy," sits down with Liam Bastick, Managing Director of Sum Product and a highly respected figure in financial modeling and Excel expertise. Known for his complex modeling work, quirky sense of humor, and love for a good challenge, Liam shares insights into the nuances of financial modeling, discusses his favorite Excel tips, and reveals his fascination with the evolving role of AI in modeling.

Liam Bastick is a seasoned corporate trainer, author, and financial modeling expert, with a focus on Excel, Power BI, and AI applications. With a career that includes awards like Microsoft’s Most Valuable Professional and the inaugural Lifetime Achievement, international recognition, and extensive teaching, Liam provides listeners with both practical advice and fascinating anecdotes from his career.

Expect to Learn:

• Excel optimization tips and learn how to effectively use Quick Access toolbar
• Circular references and financial modeling horror story insights
• Challenges and advantages of modeling in Power BI
• How AI is changing financial modeling and what the future might hold
• Liam’s approach to problem solving to stay at the forefront of innovation

Here are a few quotes from Liam Bastick:

• “The best tip I can give is to put the tools you use most often on the Quick Access toolbar. It’s underused but incredibly helpful.”
• “If you've got circular references in your model, you’re already on thin ice. They can lead to wrong answers and complete chaos.”
• “With AI, you can do the front-end and back-end work in financial modeling, but it’s still not there yet for the mechanics in the middle.”

In this insightful episode, Liam Bastick shared his passion for financial modeling, bringing both humor and depth to complex topics in Excel, Power BI, and AI. His reflections on adaptability, continuous learning, and challenging the limits of traditional tools serve as powerful reminders for anyone in finance or data analysis.

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• Website - https://www.sumproduct.com/
• LinkedIn - https://www.linkedin.com/in/liam-bastick-73a39114/

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In today’s episode:

[01:52] – Introduction to guest Liam Bastick

[03:44] – Liam’s Modeling Horror Stories

[08:32] – Liam’s Professional Journey and Challenges

[14:17] – Running a Business and Reinvention

[16:05] – Discussing AI’s Impact on Financial Modeling

[20:39] – Books and Teaching Tips

[35:50] – Rapid Fire: Excel Best Practices

[46:57] – Advanced Modeling Techniques and Final Tips

[54:16] – Contact Information and Wrap Up