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In this Excel tips video, the presenter demonstrates how to quickly find and select cells with bold font formatting. Using the Find and Replace dialog box, they select the data set, hold the Ctrl key and press F to open the dialog box. By clicking on the Options button, they can specify to find cells with formatting similar to a specific cell, making it easier to identify cells with bold font. This method is useful for large data sets where manually selecting cells with formatting would be time-consuming.