Happened to be taking somecourses and a thought came to my head. Suppose you were on the buyside and on a daily basis investment banks are sending you CIM for reviews. This would also mean the bankers have already done the themselves. Thus, would a buyside firm create a model from scratch or would they obtain the financial models from the bankers and just perform their analysis from there? For example, stress testing the assumptions and so on?
If they create create their own financial models, how would they do so in practice. Would the CIM give all the information they need? What if insufficient information is provided in the CIM?
Haven't worked in the industry before so just curious.