Fix the Pitch

How to craft compelling, dazzling pitchbooks. Thoughts, ideas, and inspiration to help construct advanced financial analysis, build stunning data visualizations and tips for mastering client meetings.

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Jamie Ballingall

Jamie Ballingall

Chief Scientist & Co-Founder at Pellucid Analytics. Former Wall St. strategist & quant and Columbia University adjunct professor. Solving complicated technical and mathematical problems.

The case against terminal multiples

When building a discounted cashflow model, both common modeling approaches are wrong. But one happens to be useful. “Essentially, all models are wrong, but some are useful” George E. P. Box, British mathemati…

Jamie BallingallJamie Ballingall

When to exclude a subject company from an analysis. And when to not

When bankers should exclude the subject company's data from an analysis. From time to time, I disagree with some standard banking analytical practice or other. Ok, quite a few standard banking analytical prac…

Jamie BallingallJamie Ballingall

Correlation matrices have to be what now?

Avoid explaining the mathematical theory of eigenvalues and positive definite matrices by giving a finance answer. Talking about eigenvalues in a client meeting is asking for trouble because the mathematical…

Jamie BallingallJamie Ballingall

When to use positive-negative in financial modeling

The pros and cons of positive-positive and positive-negative in financial modeling. In finance, it’s often meekly agreed upon that everyone is right. “Well yes, of course, circumstance dependent, both approac…

Jamie BallingallJamie Ballingall

Explaining diversification and hedging to clients

Talking about risk management in terms of home ownership, sprinkler systems, and alarms. Risk management is an area of finance that you’re probably familiar with. It’s about identifying threats and figuring o…

Jamie BallingallJamie Ballingall

Comps analysis: The missing harmony of summary statistics

Answering the question, “How is the company performing?” by using smarter summary stats. A comps analysis has two chief purposes. The first is to look at individual company performance and the second is to b…

Jamie BallingallJamie Ballingall

Dear P/E, it’s not me. It’s definitely you

As a comparison ratio, price/earnings is confusing, results in non-meaningful data, and is not intuitive. Here is something much better. I don’t know why, but there is a surprising lack of coverage on why pr…

Jamie BallingallJamie Ballingall

Stop confusing clients with weighted averages

When spreading comp ratios, use an aggregate instead of a weighted average to account for company size. Occasionally in client meetings, something happens that I like to call “Sudden Onset Confusion Syndrome”…

Jamie BallingallJamie Ballingall