Building Models From Scratch: A waste of time or necessary evil?

I work for a L/S fund that makes the analysts build models from scratch. To be honest I think is massive pain in the ass and a waste of time.

I do sympathize with the wax on/wax off philosophy behind the practice but when I have an Idea that is more macro driven/thematic it is just so much easier to pull financials from a SS model and flex assumptions as needed. 

Anyway, this is just me venting but would appreciate any tips on speeding up the process (I already use bamsec to pull tables and fillings.)

For the veterans out there, do you think this is a necessary part of idea analysis and is critical in helping you understand businesses or is it just poor time allocation? 

Comments (3)

2mo
spudrmonke, what's your opinion? Comment below:

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