When building a financial model, where do most people get their historical fundamentals data from? Is there a difference between IB/ER/HF?
The brief stint I spent in M&A, we always had to go through the company filings by hand for every item to make sure the data was perfect and to ensure we had complete control over adjustments. Two screens - Excel on one, filings on the other...
Is this still the case? Or have the data providers improved to the point where you can actually use their data for a proper model? And do any of them now let you make custom adjustments or do you have to stick with what they consider to be appropriate?
Would also be interested to know if there was less of an emphasis on paintstaking manual data extraction in sell-side and buyside ER. Are you able to simply use BBG or one of the others?