Excel Add-in Does Monte Carlo Simulations

Late last week I got a tip to check out a nice (relatively new) Excel add-in from RiskAmp that does Monte Carlo simulations.

You can check it out here: www.riskamp.com

Not terribly familiar with Monte Carlo? RiskAmp's got a nice white paper (.pdf) that gives a easy-to-understand overview.

I've downloaded and installed it (the add-in), and have played around a little bit. From what I can tell on the ultra-quick, it's pretty slick. I'll be doing much more testing, but I prsonally think this little bad boy will come in very handy for all of the pro-forma financial projections, and probabilistic modeling that I'll be doing in the very near future.

What's even better is the price point: For less than $60, you've got quick, easy computing functionality for which the "big boys" (investment pros, actuaries, etc.) have historically paid through the nose.

I say, check it out.