What does financial modelling actually mean in a HF?
Final year undergraduate here, I previously went for an interview with anasked about how long I would need to . Given my previous experience was more in Corporate Development, I said that I would need a few days to construct a model.
I assumed that everything would need to be created from scratch (e.g. manually pulling out every detail from the annual report), and that there were a lot of considerations and research that needed to go behind every assumption. The interviewer was not impressed and said I needed to be able to complete multiple models a day, and I was ultimately dinged.
I don't really have experience at an HF, but I suspect both of us had very different ideas about what the term "" actually referred to - I'm not sure if he was referring to those straightforward "quick and dirty" models, or models similar to those required for those timed 1 to 3-hour 3FS case studies, which I am confident I would be able to do. This gets me to my question, what are hedge funds actually looking out for when they ask about financial modelling?