◆ Supervised Specialist
Constructs the DCF … projections, WACC, terminal value … reconciles it against the comps and precedent ranges, and runs the sensitivities the deal-committee agent will ask for. Checks its own footings as it builds.
Memory
Working Driver assumptions, the projection build, and the sensitivity grid.
Episodic Prior models for the same target / sector and their accepted assumptions.
Semantic WACC conventions, terminal-value methods, sector margin norms.
Procedural Model-build playbooks and the desk's house assumptions.
Store File-based memory tool + model version store
Orchestration
MCPA2A
Harness · Managed Agents … long-running session; structured note-taking (a model ASSUMPTIONS file) persisted outside context so logic survives compaction.
Tools
›_ Modelling sandbox (spreadsheet engine) Code exec ⌘ Market data (rates, betas, estimates) MCP ⇄ Comps / precedent set A2A ⇄ Oversight-agent review channel A2A
Evals & guardrails
- Self-audit pass: every formula traces to a stated assumption; circularity flagged.
- Cross-check guardrail … DCF output must reconcile to comps/precedent range or explain the gap.
- An oversight agent independently re-derives the valuation before any number reaches the client deck.
Offline reflection
Replays which assumption sets the deal-committee agent accepted vs. revised to refine its default house assumptions per sector.
Frontier edge
- ▲World-model simulation: runs forward scenarios on the projection before committing a base case, simulating how each driver moves the football field.
- ▲Causal reasoning: counterfactual 'what if margin compresses 200bps' analysis on the value bridge, not just a static sensitivity grid.
- ▲Continual learning: eval-gated assumption updates so accepted vs. revised house assumptions tune the next build (SEAL-style), no full retrain.
A sample run
Trigger Valuation needed for the industrials target ahead of a board pitch.
- 1Build a 5-year projection from filings and management guidance.
- 2Derive WACC; compute terminal value two ways and reconcile.
- 3Run sensitivities on growth, margin and discount rate.
- 4Reconcile the DCF range against the comps agent's multiples.
Output A footed DCF with a football-field summary and a sensitivity grid committed to the pitch agent; assumptions flagged for oversight-agent sign-off.
In numbers
90
Models built / month
+40%
Footing errors caught pre-review
Handoffs
Fed by ← Comparable Companies Agent
Hands to → Pitchbook Builder