Do people still do 3 statement models? I’ve worked on 3 multi billion sellsides at (GS/MS/JPM) and have not done one. We just send out the model which is just the income statement, drivers, KPIs, etc. and audited BS + CFS.
Are they necessary? Is it a lost art?
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If you work on a smaller deal like MM where your client firms do not have solid data record, you gotta do that. At least from my experience.
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