In this episode of Financial Modeler’s Corner, Paul Barnhurst is joined by Rafael Le Saux to explore the real-world challenges of financial modeling, valuation, and how the role is evolving with new tools like AI. They discuss why strong modeling fundamentals still matter, the risks of poorly structured models, and how professionals can improve their skills in a rapidly changing environment.

Rafael Le Saux is a valuation and modeling expert with over 16 years of experience in financial advisory and alternative investments. He leads Valuation and Modeling Services at PwC Deals and Strategy Luxembourg, advising clients on complex valuation matters across multiple asset classes. He has held senior roles at Partners Group and worked across multiple global markets and is actively involved in industry education and research.

Expect to Learn

• Why is the model structure important
• Common mistakes in financial modeling
• How to improve Excel and modeling skills
• How AI is used in modeling today
• Why analysis and judgment still matter

Here are a few quotes from the episode:

• |“Those Frankenstein models built from different sources are always the hardest to fix.” - Rafael Le Saux
• “When you work on a bad model, you quickly understand why structure matters.” - Rafael Le Saux

Rafael explains that AI can help speed up work, but it cannot replace thinking. The real value comes from understanding the data and building models that others can trust and use.

Follow Rafael:

LinkedIn: https://www.linkedin.com/in/rafael-le-saux/

Website: https://www.pwc.lu/

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In today’s episode:

[00:34] – Rafael Le Saux Background

[03:04] – Modeling Horror Story

[05:09] – Teaching Financial Modeling

[07:15] – AI in Learning & Education

[09:50] – Using AI in Daily Work

[12:03] – Limits of AI in Analysis

[11:53] – Automation vs Analysis

[15:13] – Luxembourg as a Financial Hub

[17:56] – Regulation & Valuation

[20:31] – Advice for Financial Modelers