Random question - but why does the sell side sometimes model companies on that quarterly matrix instead of the typical left to right (ya know, the standard way)?
Dropped an example down here...
These are such a headache to look at... I understand you might want to look at the drivers QoQ... but it seems SO much harder to navigate and analyze this method. I can't really see much benefit to this method and it just seems like its way more time intensive to build. What am I missing?
Feel like you can always look at QoQ changes + comps in the traditional left to right flow?
Is this common at any buyside shops?
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I feel like it’s just to focus on seasonality.
I haven’t seen anyone model like this at any of the shops I’ve worked at (although all have been long-only shops with duration).
Seems like something that could be interesting to stare at. Do I do this, never, nor does anyone I know of. But I wouldn't be surprised if a random pod PM somewhere is making his grad associate do this for the coverage. A big part of sellside is just time/labor arb so even if 5% of their client finds this useful they are going to do it
Great point! If it’s going to get clients to look at their reports because it’s a differentiating factor (vs all the other commoditized sell-side research out there) for those who prefer the orientation over standard left-right, it makes sense for them to pander to a niche they can maintain.
Lmao is that Alex Straton in retail, if so I have always wondered this too. Borderline unreadable but she crafts really good theses
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