People who have never seen a research analyst or a portfolio manager at work tend to think of us as Wall Street hot shots who make tons of money speculating on different stocks or developing complex derivative strategies that nobody understands. Meanwhile, people who work as research analysts or portfolio managers know that we are mostly sitting in front of computers looking at huge spreadsheets that somebody developed ten years ago and that have since grown ‘organically’ to the point where we have no idea what is going on.
Joachim, I like all your stuff, but it is posts like this that keep me subscribed. I had never heard of the EuSpRIG before today. Excellent stuff! Do you think it's possible to quantify the additional risk caused by computing errors of this nature? (But be careful! You might need a spreadsheet.)
Your Friday posts are very enjoyable (I am catching up on a Saturday).
What you say about spreadsheet errors is also applicable to a lot of design software. The old-fashioned way of checking hard copies does not work very well with software which require lots of inputs. Quite often, you are reduced to sense-checking the outputs to catch errors - this may not work very well for first-of-a-kind scenarios!!
Thank you for highlighting such an obscurely specific thing. Love reading stuff like this.
I remember the Yes Minister sitcom mentioned the fictional European Community Work Processing Committee. EuSpRIG must be it's modern sucessor. Life has imitated art!
TRIG is certainly needed as it could run a campaign to warn tourists (and day trippers from other parts of the UK) to stand on the right when using escalators. This would reduce the risk of being shouted in the vernacular Anglo-Saxon at or even just shoved out of the way by a local - this puncturing the (oddly widely-held) romantic notion that the British are a gentlemanly people.