(The original HP 12C)
For some reason I am always interested to read posts about what gadgets people carry in their briefcases. Very few people carry flashlights (very useful in hotel fires) and even fewer now carry calculators. I bought my first hand held calculator in 1973, which was the first step for me in automating financial modeling. It also lead to the retirement of my sliderule, which had served me well for about seven years.
My first calculator was made by Texas Instruments and only had the four basic functions (+-X/) and no programing capability. This calculator served me faithfully until 1981 when a power surge in Lima, Peru hurt it badly. A local fixit man was able to temporarily restore it but it failed for good a few months later.
To replace my friend from TI, I purchased an HP 12C calculator. This is the finest handheld finance calculator ever made and I still carry it with me. Partly I carry it out of tradition, but I am sure the calculator's feelings would be hurt if I started to leave it home after so many years of traveling together. My HP 12C has been with me for every dollar of financing I have ever raised and has never needed a re-boot in 28 years. I have also noticed over the years that nearly every good finance professional owns an HP 12C and that one should be very wary of finance professionals that do not use the 12C. This rule still applies today in the age of Excel because people will still whip out a handheld calculator for a quick calculation at a meeting.
Today I learned in a post on BijanSabet.com that HP has created an iPhone app of the HP12C (picture below text). I guess this is the natural evolution of technology, but for probably the first time I am a bit sad to see such a remarkable device as the HP 12C replaced by a newer technology. Now, how will we be able to spot the real finance people? Ask for a list of their iPhone apps?
I do not think my HP 12C reads blogs so please keep this news quiet out of respect for my old friend.
