What does a model look like at a L/S hedge fund? What is the diligence process like?
Can someone please describe in painstaking, excruciating detail what modeling looks like at a top L/S SM? I am in PE right now and we are only able to make these absurdly detailed models because we get access to every single piece of information down to the G/L level and are able to create models with dozens of spreadsheets and call dozens if not 50+ customers to project account level details in many cases.
I have a hard time understanding how it is possible in arole to create models with builds behind even business unit revenue level line items without having more detailed information than is typically presented in 10-Ks or earnings calls. How is this possible? How do you build these models and what is the diligence process? I simply do not understand one bit.