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kids + moms + dads + parents + travel + food If credit rating is an art, it must be abstractI know. I know. My Humanities professor will most likely kill me if she reads my title. She'll say "you must mean `If credit rating is an art, it must be... non-objective...'" She'll then go on to explain that what we uncultured people refer to as abstract (i.e. when you look at a painting you don't know what it is and what it means) is actually called non-objective. Oh well.How many times have we heard rating analysts say that credit rating is an art? As often as they need an excuse when talking to people who ask them to quantify their reasons for and come up with formulas to back up their ratings. Come to think of it though, analysts are very much like artists. Have you tried to engage analysts about to release a report in inane chit-chat? How did they strike you then? I hope they didn't actually hit (Strike, hit. Get it?) you but analysts, under stress, can be really moody, just like regular artists. Since research is an important part of being an analyst, I tried to really discover some similarities between art and credit rating and here are some quotes that I came up with: What garlic is to salad, insanity is to art. (Augustus Saint Gaudens, 1848-1907, American sculptor) -- To be an effective analyst, admit it, you have to be a little insane. Even a little masochistic if I may add. How else can you stand dealing with clients who change their projections every minute or whose balance sheets do not balance? How can you survive working late, the endless question-and-answer, and being berated after slaving over a report all at the same time? I rest my case. Art consists of limitation. The most beautiful part of every picture is the frame. (G. Chesterton, 1874-1936, no credentials given) -- The nice thing about being analysts is that we never forget that we are mere mortals. Why do you think the saying "To err is human, to forgive is not my policy" was coined? Every rating assignment teaches you a thing or two via your mistakes. As an analyst, one can only do so much. There are only twenty-four hours in a day and one can only get so much information. You cannot cover all the bases. You can never release a "perfect" report. You are but human -- which is a comforting thought, nonetheless. Being human means you have a heart. Without tradition, art is a flock of sheep without a shepherd. Without innovation, it is a corpse. (Sir Winston Churchill, 1874-1965, no credentials necessary) -- "Do not reinvent the wheel." Analysts like us hear this often. At the same time, we change our formats, the way we do things day in and day out. At least we know we're not dead. If we're not dead, are our reports of any value? Don't great artists gain recognition when they've gone on to the great beyond? Just a thought. "Every artist writes his own autobiography." So does every analyst. I'm not trying to suddenly sound sentimental after everything I've said but it's true. Each of us will have to go about our jobs and even about our lives in our own style. We can be as unconventional as we like as we trudge along but the most important thing is to have heart. Emotion makes for a great artist. Heart will help us get through life and yes, even through our credit rating jobs. Art imitates life. End of article.
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