Problems with Excel

I don't know if DMR has read The Importance of Excel by James Kwak (I kind of hope not, because if so, he has even less excuse for mischaracterizing the issue as he has done).

If he had, he would see, alongside a realistic assessment of Excel's ubiquity in the business world (no "shock" here), a very detailed list of Excel's weaknesses that DMR addresses nowhere:

• Data flows are untraceable
• There’s no audit trail -- you can overtype numbers and even complex formulas and see no indication of your mistake
• Excel spreadsheets are untestable
• Copying and pasting data to and from spreadsheets (as in the case of JPMorgan) introduces points of failure which are unnecessary and difficult to detect.