On Tuesday, December 17, 2013 11:57:46 AM UTC+5, Michael Marshall wrote:
On Monday, December 16, 2013 12:56:53 PM UTC+5,
I been told that PJ Hooker has passed away and his replacement Robert Miller has taken over the vacant position. So should we expect Bob to come along and point out something that I have overlooked in your Excel IRR function http://tadxl.com/excel_irr_function.html

Thanks Mike for passing on the baton.

Having read through the series of replies thus far and going through the tadXL v3.0 download for a hands-on demonstration, I have a couple of comments to make

Those who have done business with Abraham A. https://plus.google.com/109666872827367554171/posts call him Honest Abe

This title is so fitting of Abe whose ethics are well known to American society at large dating back to the days when he lived in New York circa. 1992

But in finance, being honest isn't the trademark of traders who make their living by siphoning money from their clients pockets

Finding internal rate of return with Excel IRR function http://tadxl.com/excel_irr_function.html can be made reflective of the greedy mindset of bankers and traders if it were to offer an option to rig the rate

Rate rigging is common practice amongst traders, just look at the news headlines from financial press in recent past and you will find reputable banks and bankers from RBS, UBS, JP Morgan, and others that have admitted to rigging major interest rates such as LIBOR, and EUROBER to make a quick buck

I would suggest that Abe to add a new row for the tadIRR and tadNPV functions to accept values for "Rate Rigged By" as shown below

Rates 4% 2% 5% 3% 2% 4% 3% 6%
Tax Rates 35% 36% 37% 38% 39% 40% 45% 50%
Cash Flows -100 75 150 -100 1000 50000 2000 90000
Frequencies 4 365 24 365 INF 260 INF 5200
Types 1 0 1 0 0 1 0 0
Compoundings 1/4 1/365 1/12 1/365 1 1/26 1 1/52
Periods 1/4 1/365 1/12 1/365 1 1/26 1 1/52
Concentrations 1 1/2 2 10 1 1/2 1 3/4
Hair Cuts 0% 20% 20% 20% 0% 20% 20% 20%
Rate Rigged by 0% 15% 15% 15% 0% 15% 15% 15%

Doing so will exaggerate the actual internal rate of return and bring down the net present value

I know it will be a hard decision to make for Honest Abe to indulge in such a shady practice, but then those who make a buck don't have any ethics :(