The Money Maze Podcast’s Post

Exciting news from Norway! Norges Bank Investment Management, the force behind Norway's huge sovereign wealth fund, just reached a massive $1.4 trillion. Established in 1996, it's all about wisely investing surplus money from Norway's booming energy sector. Most of it, about 70%, goes into equities, but they've also got some significant fixed income holdings. Here are the key ones: 🔹 U.S. Treasuries: $103B 🔹 Japanese Treasuries: $33B 🔹 German Treasuries: $17B 🔹 UK Treasuries: $12B 🔹 French Treasuries: $11B #banks #markets #investing

How does Norway’s $1.7 trillion sovereign wealth fund work, and what does it mean for its citizens? Emil Framnes from Norges Bank Investment Management breaks it down on the latest episode of #BoxesAndLines with Ronan Ryan and John Ramsay. Give it a listen to learn more about how one of the world’s largest funds is managed: https://lnkd.in/e8k3rc9M

we can talk about AI as much as we want, but the truth is excel is ubiquitous in companies of every size

When we hear in the news about modelling errors that have had big consequences, they are often down to: 🚨 Errors in code (e.g. an inadvertent minus sign in a formula) 🚨 Incorrect references (e.g. missing rows or columns in a range) 🚨 Wrong calculation methodology (e.g. using a sum instead of an average) But what happened here was actually an input error: "I used the wrong date, December 1st instead of November 1st which is clearly stated in our mandate." Formulae reviews are a crucial element of spreadsheet assurance. But they should go hand-in-hand with assumptions reviews too. Some questions to think about when reviewing the assumptions in a model: ❓ Who owns the assumption or where did it come from? ❓ Is it static or will it change? How often should it be updated? ❓ Has the assumption been properly documented somewhere? Has someone double checked that the model and documentation are aligned? ❓ Is the assumption subject to any constraints? In the case here, the date should have been December rather than November: 💡 Was the model's inputs reviewed by a peer? 💡 Could an error check have been set up to flag any date entered that isn't November? 💡 Could data validation have been set up to restrict the value in this cell? If it's in the mandate then why not? #Modelling #ModelRiskManagement #Excel

It was such a privilege to see our very own Ros McKay GAICD and Cbus Super Fund on a panel at the Responsible Investment Association Australasia (RIAA) conference today talking about how super funds are navigating the dual objectives of profit and purpose. #responsibleinvesting #socialandaffordablehousing #sustainableproperties

Excel is great tool, but relying on it as an archive might be extremely risky. A simple error could easily cost you €92mn as shown in the article below 😦 I speak to so many customers that keep their whole contract management in an excel file. Besides the hard administrative work to go through all these entries weekly or even daily to identify expiry dates, human errors are extremely likely to occur. DocuSign CLM takes over the work for you, reminds you automatically and even red-lines the contract during negotiation. Want to know more about it? Book a meeting with me and we can have a look at your project and if CLM would be a suitable solution.

Excel is great tool, but relying on it as an archive might be extremely risky. A simple error could easily cost you €92mn as shown in the article below 😦 I speak to so many customers that keep their whole contract management in an excel file. Besides the hard administrative work to go through all these entries weekly or even daily to identify expiry dates, human errors are extremely likely to occur. DocuSign CLM takes over the work for you, reminds you automatically and even red-lines the contract during negotiation. Want to know more about it? Let’s speak so we can have a look at your project and if CLM would be a suitable solution.

When data is moving via Excel spreadsheets between teams, there is bound to be data health problems. Just ask Norway. In agribusiness, incorrect data and long-term input problems in Excel can persist for months or even years. And bad data can mean bad bottom lines. Technology has improved. And if you’re still solely relying on Excel to run your agribusiness, you’re potentially already behind.

Time is money, or so the saying goes, and the CEO of the world’s largest sovereign wealth fund is making sure every day counts—he’s even got a calendar countdown in his office to prove it. Nicolai Tangen leads Nordic behemoth Norges Bank Investment Management, which governs the revenue earned by Norway’s oil and gas resources, with the aim of ensuring its benefits are distributed fairly between current and future Norwegian generations. Akin to a presidential cycle, the CEO role of the $1.6 trillion fund runs on a five-year contract, which can be renewed. As a result Tangen knows down to the day when his tenure will end, and added a large countdown in his office which ticks down every day. “I’ve got 580 days left,” Tangen told the 20VC podcast earlier this year. “Now why do I have that? Is it because I don’t like my job? No. I love my job. Read more: bit.ly/3WqiuxF