MM Case Study Advice
I’ve done a couple MM case studies to no avail. Have seen past threads on how to go about it, and I’ve taken the general approach outlined below, but curious if anyone has advice on how IMPROVE at this type of thing?
Feel like I typically get to the end and don’t have much more than a very high level understanding of the business, and opinions that are just in line with research provided. Very surface level and without direction
I do like 1 hr to look over materials/instructions and general business overview, 1 hr transcripts and research, 1.5 hr build out income statement, rest for writeup
Square peg and round holes
Do you bother building balance sheet / cash flow statement?
Not really. Figure better to focus on I/S given time constraint and develop a view. Feel like they know I can build a model after the model test
Ah I thought you meant model test = case study. In my experience they lump it together and there isn’t typically a seperate case from model test but maybe that’s just my experience
bump
You are just underprepared. I can tell from your post. Saying this as someone who used to be terrible at case studies and eventually got really comfortable with them.
Pick up 2-3 names in your sector and model them from scratch, read the transcripts, and follow the names for a couple quarters. You don't need anyone telling you how to do this. Then start doing revenue builds for a new name every week for a couple of months. It's a grind, but trust me it makes a huge difference.
'1hr on this, 1hr on that'. It doesn't work like this. Once you've put in the reps, you develop intuition for the process and just do it. You'll know how businesses in the sector work, where to focus, and how the pieces fit together.
There are also MM-specific things you really need to show understanding of in the case like positioning and alt data. I used a paid resource to learn this, but you can dig through old WSO threads. This was another missing element for me at the beginning.
I literally did the above and things started working out for me. Trust me, not all other candidates put in the work.
What paid resource helped with this?
In a case study, how are you using alt data and finding positioning if you can't pay for that data and/or use spec sales other sell side materials (assume you don't currently have access)
Thanks for the comment! What paid resources? And any other incremental advice? Thanks again
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