“To be fair, though, there is one redeeming aspect of the CFAs… See More—one characteristic that is actually legit, the calculator. One of the two calculators permitted to be used on the CFAs is the HP 12C, and apart from the fact that its name sounds like some highly involved consulting framework, it is the epitome of Banker technology. The 12C embodies everything about us—elegant, bold, somehow clinging on to life in a world that no longer needs it. One look at its brushed plastic exterior and you think: “Damn, this thing is pro.” Excel Mobile, it speaks a pure, unambiguous language: Reverse Polish, a postfix notation that eliminates non-commutative issues. So instead of having to enter 7 + (5 * 2) - 5, you’d enter: 7 5 2 * + 5 -. Direct and to the point, crisp even—exactly how Bankers think and speak. I met a model from Kraków once, and although we hit it off physically, her English struggled, blocking us from that real “same plane” level I like to reach. So as a gesture of cultural sensitivity, I decided I’d speak to her in something closer to her native tongue. Over Lil’s Wayne’s Lollipop, I pointed between us aggressively and instructed: “You, friends, 2, TIMES PLUS… panties MINUS“ Boom. “Same plane,” said her eyes.” The HP-12C The HP-12C is a popular financial calculator. It was such a successful model that Hewlett-Packard redesigned it from scratch,[2] added several new functions, and introduced it as the HP-12C Platinum in 2003. The HP-12C is HP’s longest and best-selling product, in continual production since its introduction in 1981.[1] Due to its simple operation for key financial calculations, the calculator long ago became the de facto standard among financial professionals – for example, most investment banks issue HP-12Cs to the members of each incoming class of its investment banking analysts and associates. Its popularity has endured despite the fact that even a simple, but iterative, process such as amortizing the interest over the life of a loan—a calculation which modern spreadsheets can complete almost instantly—can take over a minute with the HP-12C. The 1977 October edition of the HP Journal contains an article by Roy Martin, the inventor of the simple method of operation used in HP financial calculators, which describes, in detail, the mathematics and functionality built by Prof William Kahan (from UC Berkeley) and Roy Martin that is still in use today. Later HP financial calculators are many times as fast with more functions, but none has been as successful. The HP-12C’s programming mode is very intuitive and works like a macro operation on a computer. Basically, the keys one would press in the calculating mode to arrive at a solution are entered in the programming mode along with logical operators (if, and, etc.) applicable to the solution. After the programming is complete, the macro will run in computation mode to save the user steps and improve accuracy. There are 99 lines of programmable memory on the HP-12C, and 400 lines on the HP-12C Platinum. Over its lifespan, the processor’s technology has been redesigned in order to integrate all the circuitry into a single chip and to refresh the manufacturing process (as the foundry could no longer manufacture the necessary chips, having moved on to making higher-density chips). However, HP’s market research found in the late 1980s that the users did not trust results obtained too quickly and so the CPU speed was never improved from the original 200 or so kHz.[citation needed] In the late 1990s, the CPU was changed to a 3V process and the battery was changed to a single 3V cell. The HP-12C is one of only four calculators permissible in the Chartered Financial Analyst exams, the others being its sister, the HP-12C Platinum, and the Texas Instruments BA II Plus and BA II Plus Professional. [edit] The HP-12C Platinum The HP-12C Platinum is a revision to the successful 12C. The 12C Platinum is visibly distinguished by its silver-colored upper half as opposed to the gold-colored plate on the original 12C. The Platinum has a faster processor, larger memory and more built-in functions. It allows input to be entered in algebraic mode as well as RPN mode. There are two versions of the HP-12C Platinum. The early version did not have parentheses, which often led to awkward key sequences to solve problems in algebraic mode. Newer versions of the HP-12C Platinum have parentheses, on the blue-shifted functions of the STO and RCL keys. In 2006, Hewlett Packard released a limited edition of the 12C Platinum to commemorate the 25th anniversary of the original 12C introduction. Hewlett Packard makes a HP-12C / HP-12C Platinum solutions book available as a PDF on their website.
that is beautiful… I’m a BAII Plus man myself, but I dont mind admitting that I am HP curious.