Tools

Working models and templates that go with the writing. Each one is built for a specific argument made elsewhere on this site, and each one is auditable: live formulas, no macros, no protected sheets, nothing computed somewhere else and pasted in as a value.

They are versioned. When a correction is made, the changelog inside the file records it, so you can see what changed and when.

The models divide the same way the practice does. Investment Operations covers the environment itself: what the current one costs to run, how prices and curves get built, and what your published history is actually resting on. Derivatives covers the hedging program: effectiveness, sizing, exit, and the cost of a cap.

Investment Operations Derek Barnes Investment Operations Derek Barnes

Curve Interpolation Comparison

Six interpolation methods applied to one zero curve, side by side, every method built in open worksheet formulas with the spline solved on the sheet. All six reproduce the twelve quoted nodes exactly, then disagree by 49.67 basis points about the three month forward rate starting at one year.

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