{"id":227063,"date":"2025-07-09T12:16:33","date_gmt":"2025-07-09T16:16:33","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=227063"},"modified":"2025-07-09T13:29:32","modified_gmt":"2025-07-09T17:29:32","slug":"financial-modeling-visualizing-investment-decisions","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/podcasts\/cents-of-security\/financial-modeling-visualizing-investment-decisions\/","title":{"rendered":"Financial Modeling: Visualizing Investment Decisions"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Financial modeling offers insight into a firm\u2019s performance and potential future growth. There are many items to evaluate and several benefits if you have the knowledge on what to look for. In this episode we discuss all of that and more! Ian&nbsp;Schnoor, Executive Director at Financial Modeling Institute joins Cassidy Clement to discuss.<\/p>\n\n\n\n<iframe title=\"Financial Modeling: Visualizing Investment Decisions\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);height:150px;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=m2f9w-18ff4e3-pb&#038;from=pb6admin&#038;share=1&#038;download=1&#038;rtl=0&#038;fonts=Arial&#038;skin=1b1b1b&#038;font-color=auto&#038;logo_link=episode_page&#038;btn-skin=c73a3a\" loading=\"lazy\"><\/iframe>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-summary-cents-of-security-podcasts-ep-105\">Summary \u2013 Cents of Security Podcasts Ep. 105<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The following is a summary of a live audio recording and may contain errors in spelling or grammar. Although IBKR has edited for clarity no material changes have been made<\/em>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-nbsp\"><strong>Cassidy Clement<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Welcome back to the <em>Cents of Security<\/em> Podcast. I&#8217;m Cassidy Clement, Senior Manager of SEO and Content at Interactive Brokers, and today I&#8217;m your host for the podcast.\u00a0Our guest is Ian Schnoor, Executive Director at the Financial Modeling Institute. Financial modeling offers insight into a firm&#8217;s performance and potential growth. There are many items to evaluate and several benefits if you have the knowledge of what to look for. In this episode, we&#8217;re going to discuss all of that and more.\u00a0Welcome to the program, Ian.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-nbsp\"><strong>Ian Schnoor<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Thanks, Cassidy. It&#8217;s great to be here.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-nbsp-0\"><strong>Cassidy Clement<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah, of course. Since this is your first episode, why don&#8217;t you tell the listeners a little bit about yourself and your background in the industry?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-nbsp-0\"><strong>Ian Schnoor<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For sure. Super thrilled to be here. And yeah, my entire career has been focused on finance and financial modeling. I had a finance major in university and I\u2019m a CFA charterholder. I started my career as an investment banker for a number of years.\u00a0This was quite a while ago, during the early days\u2014the gold rush stage, if you will\u2014when modeling was a bit of a wild west and people were figuring out how to use Excel. Most models were a disaster.\u00a0So I, on deal teams, liked to build tools that were cleaner, easier to understand, easier to follow. When I left banking, I started a training company that teaches financial modeling and ran that for 20 years\u2014built that up. I think I taught 20 or 30,000 people all over the world financial modeling. Then I sold that business to Training the Street a couple of years ago out of New York. Now, I head up\u2014I&#8217;m the Executive Director and head of the Financial Modeling Institute, which is the world&#8217;s only financial modeling accreditation organization. Think of it like the CFA Institute or CPA, but for financial modeling. And yeah, so that&#8217;s been my trajectory.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-nbsp-1\"><strong>Cassidy Clement<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">That&#8217;s awesome. Today we&#8217;re gonna delve right into financial modeling\u2014you sound like the perfect guest for that.\u00a0<br>So, when we&#8217;re looking at all of these different charts and integrated pieces of data and all these other elements that are at the fingertips for most people who are retail investors nowadays\u2014since it used to be mainly institutional who got to see these charts in action\u2014what exactly is financial modeling?\u00a0Are there certain types of models, or is it mainly something that the user dictates based on the data that they have?\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-nbsp-1\"><strong>Ian Schnoor<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Sure. I\u2019ll give you the definition. Anyone can build a financial model. We&#8217;re really using an Excel spreadsheet\u2014or any spreadsheet, but typically it&#8217;s Excel. Anyone can do it.\u00a0Models are typically built in corporate finance roles, so people that work in private equity, venture capital, investment banking, large credit teams, and risk groups at banks and pension funds\u2014asset managers\u2014they\u2019re the ones that, on the institutional side, tend to do more modeling.\u00a0But retail investors are absolutely welcome. I know a lot of people that do that. I know a lot of people that evaluate their own investment portfolios and stocks by building models.\u00a0So, let\u2019s talk about what it means. There\u2019s a high-level, big-picture\u2014I call it a kind of a big umbrella definition\u2014and then a smaller umbrella, which is what we typically use in industry.\u00a0<br>The big umbrella definition of a model is really anything that you build in a piece of software\u2014usually a spreadsheet\u2014but anything that you ever build in a spreadsheet to calculate something is a model.\u00a0If you build a tiny calculation to do your home budget or to evaluate the performance of your kids&#8217; football team, that&#8217;s a model. That really is. But that&#8217;s not what we mean in the world of finance. In the world of finance, when you hear people talk about a financial model, what that typically means is using a spreadsheet to build a forecast of a company.\u00a0<br>So imagine\u2014take a public company, take Apple, take Tesla, it doesn&#8217;t matter. If I want to do some evaluation of that company, I need to build a financial forecast.\u00a0Usually, forecasts are five to ten years into the future\u2014sometimes longer, sometimes shorter. But fundamentally, when you hear the term \u201cfinancial model,\u201d it means someone has taken the historical financial statements that they downloaded, and they have built, in a spreadsheet, a forecast over the next X number of years to look at that business into the future.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-nbsp-2\"><strong>Cassidy Clement<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">So you had mentioned that there are many different uses here. We&#8217;re using some historical data to see what the patterns are and the trends, and then we can evaluate in several different ways\u2014most commonly Excel.\u00a0But are there other elements that are associated with financial modeling that many people are familiar with?\u00a0I guess in today&#8217;s world of what most people have exposure to, I initially think of a lot of documents that are pertinent to a company&#8217;s financials or maybe a handful of ratios.\u00a0What do you usually see as the common elements?\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-nbsp-2\"><strong>Ian Schnoor<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Sure. Let&#8217;s talk about that. There\u2019s a lot of components to it. What I like to say is financial modeling is very much a multidisciplinary skillset, and that\u2019s something people don\u2019t always realize.\u00a0It requires a lot of skills and a lot of capabilities to be a good modeler. It becomes a bit of a sleuth\u2014an investigator, if you will. A detective.\u00a0It is the best way to truly learn and understand a company: build a financial model.\u00a0<br>First of all, I mentioned in my last moment that financial modeling simply means building a forecast of the company&#8217;s financial statements.\u00a0Most listeners will know that when a company reports its financial statements, all companies report an income statement, a balance sheet, and a cash flow statement. Those are the fundamental financial statements.\u00a0So what we&#8217;re doing is building a forecast of those financial statements into the future.\u00a0The big question is\u2014why do we do that?\u00a0And this gets to what you talked about: financial models have become the most important decision-making tools in finance.\u00a0<br>That is what every single finance professional\u2014every money manager, every investment banker, private equity banker\u2014uses: forecasts to make critical decisions about the company.\u00a0It might be an investment decision. You might have someone working at Fidelity or a large asset manager trying to decide if they should invest another $10 million in Apple stock. To do that, they&#8217;re going to build a financial forecast.\u00a0So people build models to make investment decisions, to make lending decisions, to make merger decisions.\u00a0And so, to build a strong model, it&#8217;s not just\u2014sometimes people think of modelers as people working in the basement on a spreadsheet all day long. That&#8217;s not it at all.\u00a0Modeling requires understanding how to read historicals, getting a lot of good data, reading historicals, thinking about what the future could look like, doing a lot of research, talking to people, understanding:\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Where do we think inflation is going to go?&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>What\u2019s going to happen as a result of tariffs to my cost structure?&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Where do we think the demand is going to be from?&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Et cetera, et cetera. Asking lots of good questions, thinking about what the future could look like, and then using that future forecast to make some important decisions that you want to make about the company. So there&#8217;s a lot to it. And it starts, though\u2014you\u2019re right\u2014it starts by finding the historical reported statements in the annual report, reading it, learning it really well, so that you&#8217;re in a position to think about what the future could look like.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-nbsp-3\"><strong>Cassidy Clement <\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You had mentioned several different points\u2014specific skill sets, capabilities, and then, of course, documents. And that will help the user understand the company&#8217;s performance and then maybe the potential future performance of the company.\u00a0But I have to ask, what technically makes a good model? Because like most people learn in Economics or Business Statistics 101: junk in, junk out. You have to have good data.\u00a0There maybe could be various models that yield various answers. So what exactly would make a <em>quote unquote<\/em> good model here?\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor\"><strong>Ian Schnoor<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Love it. Great question. There are a lot of things that make a good model. First of all, we need to start with healthy, accurate, robust historical information. You&#8217;ve got to start with an accurate starting point.\u00a0And we trust\u2014especially for public companies\u2014we trust in their reported accounting statements. When you download the historical financial statements of Tesla or Apple or any other company, we all make the assumption that they&#8217;re accurate, that they&#8217;re correct, that we&#8217;re not being misled.\u00a0So that&#8217;s an important starting point\u2014we trust the reported statements are true and accurate.\u00a0Then we need to think about\u2014if we have to start by reading and understanding what&#8217;s been presented, analyzing what&#8217;s been presented\u2014what does that mean in terms of each of the different line items in terms of what could happen into the future?\u00a0Now, a good modeler\u2014as I said\u2014first of all, has to have pretty good spreadsheet skills, good Excel skills, because that&#8217;s the tool we&#8217;re going to use.\u00a0They have to know how to read an annual report, a quarterly report, a set of financial statements.\u00a0Because it&#8217;s hard to know\u2014like you said\u2014it&#8217;s hard to know where a company is going to go until we first know where they&#8217;ve come from. What does the history look like?\u00a0And by the way, history is not necessarily a predictor of the future. It&#8217;s very possible\u2014many companies have had exceptional growth (Tesla, Apple\u2014I\u2019ll keep using those examples)\u2014that doesn&#8217;t mean the future is going to look the same.\u00a0<br>You might intelligently determine that they\u2019re in for a rough few years and revenues are going to decline. That might be accurate.\u00a0But we have to be able to do some really good diligence work\u2014some sleuthing.\u00a0What people don\u2019t realize is what makes a good model? A good model has to have accurate historical data going in, reasonable, intelligent assumptions.\u00a0It has to have a well-built structure in Excel that has accurate formulas.\u00a0Many financial models are wrong because the formulas are wrong\u2014because people make mistakes. People don&#8217;t understand the discipline of building a powerful spreadsheet-based forecast, so there are often errors, which causes a problem.\u00a0And then last\u2014and most importantly\u2014a model has to be a powerful communication tool.\u00a0The most important thing you can do with a spreadsheet forecast tool is use it to tell a story.\u00a0Nobody makes decisions based on numbers. They make decisions based on stories and emotions. And so a model has to be able to capture everything you&#8217;ve learned and tell a strong story about why you believe a particular opportunity is the right one.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement\"><strong>Cassidy Clement<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">I think that&#8217;s a major point when it comes to most data analysis or quantitative analysis. You actually have to round it out with qualitative analysis because you have to turn it into actionable items and more digestible items.&nbsp;<br>You can have a spreadsheet or several sets of financial data and documents that say, \u201cOkay, revenue\u2019s up by 50%.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Okay\u2014why? Okay\u2014how? Okay\u2014potential? Okay\u2014seasonality?\u00a0There are so many areas there that\u2014even if it&#8217;s a five-bullet-point roundup\u2014it gives more context to what actually comes out of those numbers.\u00a0And also, to your point, as the creator of the model, there&#8217;s a chance that you&#8217;re looking to have that model be in line with your goals\u2014meaning, what is it telling you about your financial goals? Or what is it telling you about the company or the institutional goals that you&#8217;re trying to reach?\u00a0But in a lot of ways, outside of that\u2014meaning, \u201cHere&#8217;s our target goal and here&#8217;s where we are in reaching it\u201d\u2014what are the other elements of importance when it comes to financial modeling or financial modeling skills?\u00a0Because somebody may think, \u201cIt\u2019s just to see how far along I am toward this goal or how close I am to achieving it.\u201d\u00a0But there actually are other additional pros to utilizing financial modeling and the skills that come with it.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-nbsp-3\"><strong>Ian Schnoor<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah, so you don\u2019t hear this a lot from people that teach modeling, but the most important reason to build models\u2014to be a good modeler\u2014is it hones your analytical skills and it hones your thinking.\u00a0You become a much better critical thinker when you can build a model.\u00a0Building a model is about the journey and the destination.\u00a0Anybody who builds a model of a company will become the smartest person in the room about that company.\u00a0So I can look at\u2014pick any given\u2014if I decided I want to invest some money into a stock, I can look at the news reports and I can read a research report.\u00a0But there is no better way to become really intelligent and very insightful about that particular company than by modeling it.\u00a0Modeling forces you to reach inside yourself, ask good questions, and think.\u00a0And you\u2019ll come out of that process with an incredible level of detailed insight that you did not have previously.\u00a0So it\u2019s very enlightening that way when you do a good job with it.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-0\"><strong>Cassidy Clement<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Right now, in most data and computational spaces, there tend to be trends with more people gaining access to these abilities\u2014or more access to even just the data and the data sets.\u00a0Are there certain trends in the space that you look to that may impact the future of the financial modeling area or the strategies associated?\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-0\"><strong>Ian Schnoor<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah, sure. The biggest one, of course\u2014the big elephant in the room right now\u2014is AI.\u00a0And how will AI&#8230; AI is already radically changing the data science space: the need for programmers, how programmers work.\u00a0I know a lot of programmers these days that don&#8217;t do any programming\u2014they use AI tools to ask. And they still have to have the programming tools because they have to be able to edit and change and understand it. But they\u2019re using AI.\u00a0And in financial modeling, that is not as well developed. But people are wondering: will there be a need for humans to build forecast models of companies if you can press a button and say, \u201cHey AI robot, build me a five-year forecast model of\u2026\u201d\u2014pick any company you want?\u00a0And so that\u2019s the big question. My own personal belief is that the AI tools will\u2014there are a couple; there\u2019s not a lot.\u00a0Most banks, to my knowledge\u2014and I talk to people regularly\u2014are not using AI tools religiously for their forecasts just yet.\u00a0And I don\u2019t believe that it is going to replace the need for human modelers because of what I just mentioned: modeling is not just about getting the answer, it\u2019s about the thought process.\u00a0It\u2019s the journey of becoming extremely intelligent about an opportunity so you can present it to your manager, to your board of directors, to your executive team.\u00a0You&#8217;re the one that needs the knowledge.\u00a0So, we&#8217;re seeing people play with these tools, but they&#8217;re not quite ready for primetime yet, is what I&#8217;m seeing.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-nbsp-4\"><strong>Cassidy Clement<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">We recently did a podcast on semiconductors, and if I remember correctly, our guest was talking about something similar in the same vein, which is\u2014you do have AI to help.&nbsp;As a tool for all of these elements\u2014as somebody who is an analyst or somebody who is creating any type of model\u2014they can be utilized as a tool to help guide you.&nbsp;But you, as the human within this scenario, it\u2019s up to you to absorb all the other ancillary pieces to figure out how you tell that story in the end.&nbsp;<br>Because as many models as there can be created, you have to use the critical thinking skills to bring them all together to see where you&#8217;re at\u2014especially if you have a specific goal in mind.&nbsp;When we&#8217;re looking at pieces like AI, big data, cloud computing, quicker financial decision-making\u2014and more so, real-time decision-making\u2014there&#8217;s sometimes the element of ESG associated with how much computing power is going into this.&nbsp;There\u2019s a lot of places that you may not initially think that you need to start to understand a little bit deeper as a financial modeling user.&nbsp;So are there certain other elements\u2014or maybe interesting, unknown, surprise elements\u2014for financial modeling that our listeners may not initially think of when it comes to gaining these skills?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I know you mentioned a little bit about better or sharper financial analysis skills or accounting skills, but maybe leadership skills or better understanding company valuations\u2014or better understanding, sometimes, the actual power that gets associated with larger and larger models, as it&#8217;s getting more expensive.&nbsp;<br>Because it&#8217;s not getting less expensive these days to utilize these models. So I think there\u2019s a lot of elements there.&nbsp;What are some things that you\u2019ve found that may be surprising or interesting?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-1\"><strong>Ian Schnoor<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah, again, what surprises people is that having strong modeling skills\u2014and again, I\u2019m now using \u201cmodeling skills\u201d to talk, as we said, not just about becoming good at Excel, but really evaluating and understanding the deep inner workings of a project, a company\u2014&nbsp;<br>One of the most surprising takeaways for some people is that financial modeling is one of the greatest leadership development skills that you can have.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can spend a lot of money and go to a business school or get an MBA\u2014nothing wrong with that, and I\u2019m supportive of education.&nbsp;<br>However, learning to build strong financial models is one of the all-time great\u2014and hidden\u2014secret leadership development tools.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why? Because to build a strong model\u2014to be a really effective person to analyze and evaluate a model and a company\u2014you need to know how to do good research.&nbsp;You need to know how to ask good questions.&nbsp;You need to know about data design.&nbsp;You need to know how to properly design all the data in a way that makes logical, intuitive sense.&nbsp;You need to know how to present it and communicate it\u2014and to deliver and to create confidence.&nbsp;And anyone who&#8217;s growing up in an organization\u2014anyone who can take data, frame it, shape it, forecast it, and create confidence amongst their bosses\u2014is going to be highly embraced and very quickly pulled up throughout an organization.&nbsp;It&#8217;s not easy to come by people that can do that all the time.&nbsp;<br>And so this gets you on that track.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-1\"><strong>Cassidy Clement<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">There&#8217;s definitely an element from human capital management where it\u2019s almost like optimizing your resources.&nbsp;<br>If you&#8217;re able to have someone who can accurately do these models, there&#8217;s definitely elements of strategy, elements of timing, elements of utilizing tools and cross-functional collaboration.&nbsp;There&#8217;s a lot that goes into this.&nbsp;We started off explaining more from the foundational aspect, which is: we have an Excel file, these are the areas that we look for, this is how we start to frame things so we get towards a goal.&nbsp;But then when you extrapolate it further\u2014and you actually look at what the employee or the person is bringing in terms of value to either the company, or if it&#8217;s yourself, toward your financial goals\u2014that&#8217;s where you really start to see these skills sharpen.&nbsp;And as you said, the leadership element, I think, is something that a lot of people don&#8217;t initially think of, because in most cases, you&#8217;re going to have to present your findings.&nbsp;So it would make sense to try to leverage making these skills sharper to maybe having an almost collateral benefit\u2014or surprise benefit\u2014of leadership skills bleeding through as well.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-2\"><strong>Ian Schnoor<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Totally. Totally. Yeah.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-2\"><strong>Cassidy Clement<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah, so you brought up some great points today. Thanks for joining us, Ian.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ian-schnoor-3\"><strong>Ian Schnoor<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You&#8217;re very welcome, Cassie. My pleasure. Happy to be here.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cassidy-clement-nbsp-5\"><strong>Cassidy Clement<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah, so as always, listeners can learn more about an array of financial topics for free at interactivebrokers.com\/campus.&nbsp;Follow us on your favorite podcast network, and feel free to leave us a rating or review.&nbsp;Thanks for listening, everyone.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial modeling offers insight into a firm\u2019s performance and potential future growth. There are many items to evaluate and several benefits if you have the knowledge on what to look for. In this episode we discuss all of that and more! 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