Are financial models even important?
As George Soros once said in his book The Alchemy of Finance, "It is better to use no model than a faulty model". Lets face it, most models are wrong and their projections are usually off. Especially in the multi manager model which is short-term and speculative, howeven help there. In the short term stocks are based off of what the market participants think the company is going to do in the future so what is even the point of building financial models in this type of role, wouldn't it be much better to use your time trying to figure out what other people in the market are going to do next?