Retro Review: TI Investment Analyst
Today's review will be on a specialized calculator that had a very short life in the market: the Texas Instruments Investment Analyst.
Quick Facts:
Model: Investment Analyst
Company: Texas Instruments
Years: 1979-1980
Type: Specialized Finance
Batteries: 2 x LR44
Operating Mode: Chain
Features: Stocks, Bonds, Options
* The [CIF] key: which calculates (1 + i%)^n. Used in time value of money calculations.
* Days between Dates allowing for four digit years. The manual states that this function is accurate for the range March 1, 1900 to February 28, 2100. The date format is mmdd.yyyy. Example: March 28, 2022 is 328.2022.
* The [ 2nd ] (Sec Typ) sets the security type mode.
Stocks (Security Type A)
We can solve for the purchase price (buy), selling price (sell), and yield. Variables include:
** the number of days until the first dividend is paid (B→P), the number of days from
** the last dividend until the stock is sold (P←S)
** capital gains tax rate and income tax rate
** commissions rate when the stock is bought and sold
** dividends, and dividend growth rate
** The Investment Analyst has two modes for stocks: annual yield and ownership period yield. The latter mode is simpler.
Bonds (Security Type B)
The keys to operate calculations for bonds are the mostly the same set of keys used for stocks. We still solve for price (buy), selling price (sell), and yield.
** Annual yield mode is automatic
** payments during investments are now coupons, which the coupon rate is entered with the [ CPN ] key
** commissions, capital gains tax rate, and income tax rate are still included
I do believe that bonds make it into later calculators, such as the TI BA II Plus.
Options (Security Type is "Blank")
Generally the same concept, solve for price (buy), selling price (sell), and yield; with variables including commissions, capital gains tax, and income tax. What is different is the use of call and put prices.
I realize that this is a short introduction, as I plan to learn more about the features of the Investment Analyst.
Keyboard
The keys are little hard, careful pressing of them are required. I find this to be the case of TI's calculators from the late 1970s/early 1980s. Thankfully the keyboard is still workable.
I wonder if the keyboards were lot better, calculators outside of the "mainstream" such as the Investment Analyst and the TI-54 (which I reviewed in 2018) would have been given another edition.
Closing Thoughts
This is a curious calculator that fit a specialized niche: stocks, bonds, and options. Not too many calculators go into this area, I believe Calculated Industries had one dedicated to Wall Street calculations. I have a feeling I am going to learn a lot about investments from going through the well detailed manual.
This is definitely a collector's item.
Source:
"Texas Instruments Investment Analyst" Datamath Calculator Museum. December 5, 2001. Last retrieved March 4, 2022. http://www.datamath.org/Sci/Slimline/Investment-Analyst.htm
Until next time,
Eddie
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