Most equity research analysts learn their trade on the job by apprenticing under a senior analyst. However, equity analysts who work for senior producers often have little time or incentive to train new hires, and those who do have the time may not have research skills worth emulating.
Now, Best Practices for Equity Research Analysts offers promising equity research analysts a practical curriculum for mastering their profession. James J. Valentine, a former Morgan Stanley analyst, explains everything today's competitive analyst needs to know, providing practical training materials for buyand sell-side research analysis in the United States and globally.
Conveniently organized for use as a learning tool and everyday reference on the job, Best Practices for Equity Research Analysts covers the five primary areas of the equity research analyst's role:
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Identifying and monitoring critical factors
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Creating and updating financial forecasts
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Deriving price targets or a range of targets
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Making stock recommendations
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Communicating stock ideas
Expanding upon material covered in undergraduate courses but written specifically to help you perform in the real world, this authoritative book gives you access to the wisdom and expertise of leading professionals in the field. You'll learn best practices for setting up an information hub, influencing others, identifying the critical factors and information sources for better forecasting, creating a better set of financial forecast scenarios, improving valuation and stock-picking techniques, communicating your message effectively, making ethical decisions, and more.
Without Best Practices for Equity Research Analysts, you're just treading water in the sink-or-swim world of the equity analyst.
List of Exhibits
Preface
Acknowledgments
Introduction
Chapter 1 : Do You Have What It Takes to Be a Successful Analyst?
Part 1 : Mastering Organization and Interpersonal Skills
Chapter 2 : Take Control to Optimize the Coverage Universe
Chapter 3 : Prioritize Time for the Most Valuable Activities
Chapter 4 : Influence Others to Accumulate Insights and Get Heard
Chapter 5 : Construct and Organize an Information Hub
Chapter 6 : Buy-Side Only : Maximize Benefits of Sell-Side Relationships
Part 2 : Generating Qualitative Insights
Chapter 7 : Identify Factors That Impact a Sector's Valuation and Performance
Chapter 8 : Identify and Monitor a Stock's Critical Factors
Chapter 9 : Create Sustainable Proprietary Sources of Insight
Chapter 10 : Get the Most from Interviewing for Insights
Part 3 : Generating Quantitative Insights
Chapter 11 : Detect Deceptive Numbers
Chapter 12 : Leverage Statistics for Insights
Chapter 13 : Conduct Surveys to Acquire Unique Insights
Chapter 14 : Identify Yellow Flags through Forensic Accounting
Chapter 15 : Identify the Relevant Microsoft Excel Features for Equity Research Analysts
Chapter 16 : Creating the Best Spreadsheet Architecture for Financial Analysis
Chapter 17 : Develop Company Financial Models to Elicit Insights
Chapter 18 : Forecast Scenarios for the Most Important Critical Factors
Part 4 : Mastering Practical Valuation and Stock-Picking Skills
Chapter 19 : Understand the Benefits and Limitations of Common Valuation Methodologies
Chapter 20 : Overcome Challenges to Creating Discerning Stock Calls
Chapter 21 : Avoid Common Psychological Challenges That Impede Sound Investing
Chapter 22 : Leverage Technical Analysis to Improve Fundamental Analysis
Part 5 : Communicating Stock Ideas So Others Take Action
Chapter 23 : Create Content That Has Value
Chapter 24 : Identify the Optimal Communication Channels
Chapter 25 : Convey the 7 Critical Elements of Stock Recommendations
Chapter 26 : Special Considerations for the Most Important Delivery Channels
Part 6 : Making Ethical Decisions
Chapter 27 : Identify and Resolve Ethical Challenges Works Cited
Works Cited
Index
