Wall Street Prep’s Post

Transcript

Hi, today I want to show you another mind blowing and immediately usable application of Chachi PT to the realm of what investment bankers and finance professionals do everyday. So just as a reminder, a few months ago I posted how ChatGPT can already if you prompted like managing director asking for work product from ChatGPT as if it's a junior banker, it'll actually spit out pretty incredible results. So this time the mind. Following application is actually creating your very own Excel plugin. So in this video I'm going to show you, you don't need to know any code, but I'm going to show you how using ChatGPT and a little bit of thoughtful prompting, you can create for yourself and for your peers if you're on the job, a productivity tool that significantly increases your productivity day-to-day on the job and how you build financial models. So this is another sort of step change in what this thing can do we've heard, obviously. Tons in The Newsroom. Many of you have probably heard about how AI and Chachi PT can disrupt, either improve productivity or eliminate jobs. These are sort of the big the big debates about where it's going. I'm going to show you an example of a very real application that anyone can employ right now on the job is bankers or really anyone who's doing any sort of financial analysis to make their jobs much more productive. Spend way less time doing the same amount of work. So let's get into it. So here I'm just going to before I get into ChatGPT, I'll show you what we're going for here. Here's a very simple excel analysis. I've got a company's income statement. These are all fake numbers, you know, companies income statement, revenue all the way down to EBITDA. And then I'm showing a whole bunch of historical, you know, gross profit margin, revenue growth figures, even down margin and then forecast for the future. Now this is unformatted. You can't really tell what's what's happening that these are historicals. These are usually, you can see the revenue here, for example, is a hard coded number, but in the future it's a forecast, right? So this is very consistent with a typical investment banking best practice and that you want these to be blue, you want these to be black. Anything that's a calculation is black. Anything that's a historic, that's, that's a hard coded input, like a constant is blue. I've also got some references to other worksheets. I've got another worksheet here and it's pulling data from there. That should be formatted green. If you ever reference to another workbook entirely not recommended, that should be read. So there's a whole bunch of sort of best practices and formatting and finance and we're going to use ChatGPT to basically create a plugin where you just create a shortcut and it does it automatically for you. Again, the only way to do that right now is if you know how to write code in VBA or you know how to write code in another language, or you just ponied up and bought some software that does it for you. That's those are kind of the, the three options that exist today. Not anymore. Now you could just prompt ChatGPT to create and add in for you entirely from scratch with exactly the shortcuts that you want. The hardest part here is you'll see is actually prompting, thinking logically about what it is that you want, and figuring out a way to communicate it so that ChatGPT doesn't make too many mistakes. That's the hard part. It's not coding anymore, so. The other bit here is that you'll see that I've got my numbers formatted kind of weirdly somewhere have multiple decimal places, some have negative numbers, and in finance we like parentheses, not negatives, to represent negative numbers. We don't want that minus sign. So I'm going to create a shortcut that cycles through a whole bunch of different fonts or different format cycles that again, I could use a shortcut to invoke and get it done beautifully in in a matter of seconds. So I'm going to create 2 shortcuts. One that auto colors based on the nature of the cell, the other one is a format cycle. Once we show you how to do this, you can actually take this code, I'll share it in the post, and you can actually just continue to build additional shortcuts as you see fit by just prompting ChatGPT. So I. So that you're not sitting here while I'm typing, I've already typed out the prompt. So I'm going to read this to you just so you understand what the prompt mechanics have to be like and just how clearly I'm I'm expressing this. Otherwise ChatGPT will make mistakes. So if you just kind of said, you know, create a shortcut that makes everything blue and it's supposed to be, it just won't understand it, You got to be really explicit. So show me step by step how to create an Excel add in in VBA that assigns the following Excel keyboard shortcuts to the following actions shortcut. Gun Control Alt a action one When the shortcut is invoked, Excel will apply blue fonts to constants that are numbers, right? I don't want this applying to my text. Black font to formulas that are numbers. Green font to any worksheet reference. Red font to any workbook reference. Clear enough. Shortcut 2. Control Shift One When the shortcut is invoked on a selected range, Excel will apply the following format. This is Excel syntax for formatting if anyone's confused about this. We cover this a lot in our courses. There is a language in Excel. 4 formats. So if I go in here for example, let me. We've got some legacy blue in here from prior work. If I go in here and I wanna use an, I'm gonna apply a custom format in Excel. There's a certain syntax that Excel understands, and this is the easiest way. If I want to make fun, I have multiple decimal places. I have to put it in, put it in here. There's a whole spacing thing that keeps numbers aligned and space correctly positive versus negative, right? You have to know that that's an Excel thing. That's not a coding thing. You could try to explain it to chat. CPT verbally, but this syntax ensures the ChatGPT won't make any mistakes. So this is the custom format I want for the first number in the cycle. Then, while holding down control shift, if the user hits one again, they'll give me a different format. Now it's 1 decimal versus 2 decimals. Here it's no decimals. Then if the user hits one again, I want a good parentheses format, a percentage format, and then if the user hits one again, the current format will be replaced with the original format, so it's a four. Format cycle. I can add as many as I want here. I chose my foremost commonly used ones. The last bit of instructions I'm going to give is I want the add in to open every time I open excel and the shortcuts to be available as soon as the workbook is open and remain active until it's closed. I want this always available. I'm telling Chachi PT please ask any clarifying questions that will help you in creating this add in in the code, include comments explaining what's happening. I've actually like to learn some VBA so I'm asking for those instructions and that's generally a good practice if you're debugging. So I'm going to I'm going to copy and paste this in. And let's see what it spits out. Alright, so let's see what Chachi PT came up with. We're going to follow this these instructions to the letter and we're going to hope for the best here. So first of all, I'm going to close this window and reopen Excel. So it's so it's fresh as it as it wants me to. Alright so now I've opened Excel and I wanna open the VBA editor. It's giving me the shortcut Alt plus F11. Open it up. Now I want to right click on any of the objects in the project explorer. Here's the project explorer. Let's right click on this one. Insert module. Alright, so now this is where the code is going to go. I'm going to write the code. You can see it's created a whole bunch of code. I can copy it and paste it in. Let's see if it followed my instructions to comment everything. Yes, this procedure runs when the workbook opens. So that's the looks like it's it's telling it to sort of apply shortcut keys to the functions that it's creating and and here are the functions. So font called apply font colors is control alt A and. Applying number formats is control shift one. Again, I don't need to know any of this code, but I like to just generally have a basic understanding of what's happening. I copied it. I pasted it. Now save the workbook as an add in. So save your file by going to file Save as file. I've got save. Let's go with that. And now it's asking me to save it as an Excel add in. Right now the default is Excel workbooks. You got to be careful. You follow instructions. Excel add in. Oh, notice it actually it defaults directly to where the Excel add INS are. That's great. That's ultimately where I want to do it anyways. You don't need to. It'll kind of guide you to it, but it already defaulted to Excel to this folder path. I was going to send it to save it to my desktop, but it put it in the right place for me. Otherwise it'll tell you how to do it. Here, as you'll see in a second ChatGPT shortcuts you'll see I've got a couple of other pre pre tests before I shot this video. I'm going to save it here. And now it's saved. And now I'm going to install and activate the and I'm going to go to file. So let me just close this U. I'm going to go to file. Options add in OK. Wow options. Advance. Alright, click Go. And it should be here because I put it in the right folder. Chachi PT shortcuts. I think that's what I named it. Otherwise it would have had you click browse. So this is where it doesn't actually matter where you saved it, because it still would have told you how to get to. If you saved on your desktop, you would have clicked browse Here. I'll show you again in case that was too quick. Once you open this up, you would have just clicked browse and found it because I put it in the right folder by default. It automatically found it. Otherwise. Just got to go through the steps here so it's still giving the right instructions. Your admin should now automatically load each time you open Excel and the keyboard shortcuts will be active. Let's see if that's true. So we're going to try this now. I'm going to restart Excel just to be safe. Alright, so I'm actually. Gonna just open up the simple income statement because I've already done the work here. So hold my breath here. Let's see if this works. I'm going to apply. Control Alt A on the cell. So if this works, it should be able to tell what's a blue cell versus what's a calculation and format it accordingly. Look at that. It did it. Now let me see if it actually followed my instructions. I very specifically wanted it to not do that on text, only on numbers. Remember, that's why I actually put in only on constants that are numbers, only on formulas that are yield numbers. Let's try this here. Alright, it followed my restrictions. I just hit control Alt 8. It didn't work. It didn't apply there. So now let me also get the worksheet references. Let me just apply the whole thing, Control Alt A. It worked. Unbelievable. This is just unbelievable. So now let me apply the other shortcut, see if that one worked. So I'm going to toggle through. I want these number formats to be 1 decimal, so I'm gonna hit control shift one. Look at that, it formatted every I'm going to keep hitting one side cycle through all of the different shortcuts and it works. This is just unbelievable. Alright, here we go. I'm gonna do the same thing with the percentages here. I want control shift one to go through and it got to my percentage in in a matter of seconds. I have built an Excel plugin, which is again just completely mind blowing what Chachi PT can do. Your imagination is the only constraint on what this thing can do for you in terms of improving your productivity. And this isn't five years from now. It's not a year from now. It is today. So I hope you enjoyed this video and I hope you're as excited about what this means. Again, maybe also terrified about what this means as I am, but the Sky's the limit. If anyone here wants to add, add on to this, no pun intended. Add other shortcuts, create an incredible productivity toolkit, share it in the share it in the comments. And if there's something completely awesome in here, I'll make a video about it showing the work that you've done. This is really, really cool, incredible stuff.