Search results “What is equity research analysis”
What's in an Equity Research Report?
In this tutorial, you'll learn what goes into an equity research report, including how it differs from a stock pitch in terms of structure and argument, the main sections of the reports, and how you might write your own reports. http://www.mergersandinquisitions.com/equity-research-report/ Table of Contents: 1:43 Part 1: Stock Pitches vs. Equity Research Reports 6:00 Part 2: The 4 Main Differences in Research Reports 12:46 Part 3: Sample Reports and the Typical Sections 20:53 Recap and Summary Part 1: Stock Pitches vs. Equity Research Reports The main difference is that equity research reports are like "watered-down" stock pitches: you still recommend for or against investment in a public company, but your views are weaker, "Sell" recommendations are rare, and you spend a lot more time describing the company and its operations and financials. By contrast, in hedge fund stock pitches you take more extreme views and spend more time explaining how your views differ from those of the market as a whole. Part 2: The 4 Main Differences in Research Reports 1) There's More Emphasis on Recent Results and Announcements 2) Far-Outside-the-Mainstream Views Are Less Common 3) Research Reports Give "Target Prices" Rather Than Target Price Ranges 4) The Investment Thesis, Catalysts, and Risk Factors Are "Looser" Part 3: Sample Reports and the Typical Sections The main sections of a report are as follows: Page 1: Update, Rating, Price Target, and Recent Results The first page of an "Update" report states the bank's recommendation (Buy, Hold, or Sell, sometimes with slightly different terminology), and gives recent updates on the company. A specific "target price" must be based on specific multiples and specific assumptions in a DCF or DDM. So with Jazz, we explain that the $170.00 target is based on 20.7x and 15.3x EV/EBITDA multiples for the comps, and a discount rate of 8.07% and Terminal FCF growth rate of 0.3% in the DCF. Next: Operations and Financial Summary Next, you'll see a section with lots of graphs and charts detailing the company's financial performance, market share, and important metrics and ratios. For a pharmaceutical company like Jazz, you might see revenue by product, pricing and # of patients per product per year, and EBITDA margins. For a commercial bank like Shawbrook, you might see loan growth, interest rates, interest income and net income, and regulatory capital figures such as the Common Equity Tier 1 (CET 1) and Tangible Common Equity (TCE) ratios: This section of the report explains how the research analyst/associate forecast the company's performance and came up with the numbers used in the valuation. Valuation The valuation section is the one that's most similar in a research report and a stock pitch. In both fields, you explain how you arrived at the company's implied value, which usually involves pasting in a DCF or DDM analysis and comparable companies and transactions. The methodologies are the same, but the assumptions might differ substantially. In research, you're also more likely to point to specific multiples, such as the 75th percentile EV/EBITDA multiple, and explain why they are the most meaningful ones. Investment Thesis, Catalysts, and Risks This section is short, and it is more of an afterthought than anything else. We do give reasons for why these companies might be mispriced, but the reasoning isn't that detailed and it's not linked to specific share prices. Banks present Investment Risks mostly so they can say, "Well, we warned you there were risks and that our recommendation might be wrong." http://www.mergersandinquisitions.com/equity-research-report/
What does an equity research analyst do
What does an equity research analyst do on a day-to-day basis? Why are people attracted to the Equity Research profession? What are the career prospects in Equity Research? What is the difference between Buy-Side and Sell-Side Analysts How does one get into Equity Research after CA/MBA Which are the top Equity Research firms In this video, we will talk about the day-life of an equity research analyst Playlists Random Reflections | GST | Career | Financial Planning | Inspiring Speeches https://www.youtube.com/user/poweryourpreparation/playlists #AnuragSingalYouTube
Views: 8645 Anurag Singal
What is Equity Research - Equity Research Jobs, Salary, Job Responsibility
Visit my website: http://www.financewalk.com Here's my video on What Is Equity Research. This video is a brief overview of What is Equity Research, equity research jobs, Salary, and Job Responsibility. Equity research is an excellent field for MBAs, CFAs, CAs, and graduates who want have interest in financial analysis, investment decisions. I myself have worked as an Equity Research Analyst and loved every bit of it. The main attraction is you get to select top companies as per YOUR analysis and research. You need to pitch this in front of investment committee. Nowadays, a lot of investment banks, brokerage houses, research companies, hedge funds, portfolio managers, and Knowledge Process Outsourcing (KPOs) companies need equity research analysts. You need to have skills like financial modeling, financial analysis, Excel, valuation skills, report writing, excellent communication skills, and ability to work independently. Equity research process Equity research process comprises of multiple steps. 1. Economic Analysis 2. Industry Analysis 3. Company Analysis 4. Financial Statement Analysis 5. Financial and Valuation Modeling 6. Report writing 7. Presentation or recommendation Application Equity research is used in many areas. Primarily, the research is used for the following purposes: 1. Investment evaluation 2. In Mutual Fund industry 3. For M&A deals 4. Financial Publications 5. Charitable endowments Equity research in very simple terms comprises of three basic activities -- data collection, data analysis and report writing. The common knowledge says that usage of various tools and techniques happens at the analysis stage, but it is not completely true. You can use various easy to use tools for data collection and report writing as well. You as an equity research analyst need some tools for research and analysis like: 1. Excel 2. SPSS 3. SAS 4. Google Alerts 5. RSS feeds Apart from graduation, there are other skills which are equally important to succeed in careers like Equity Research,Investment Banking, Private Equity, Mutual Funds and Financial Research companies. Skills that employers want: 1. Graduate/Post graduate in commerce,Finance,Management. In some cases Engineers can also apply. 2. Knowledge about Income statement,Balance Sheet and Ratio Analysis 3. Analytical skills and logic 4. Right Attitude. This is the most important skill you need. 5. Excel proficiency and basic knowledge of financial modeling 6. Report Writing skills 7. Fluency in English. 8. Confidence That's all for my What is Equity Research video I highly recommend using my blog (www.financewalk.com) to know more about equity research jobs, career, salary, and training.
Views: 22776 Avadhut Nigudkar
3.  What is Equity Research (How to they make money?)
In this video, we discuss what is Equity Research. Here we also discuss How Equity Research Makes Money, What is a typical Equity Research job profile and Who are the clients of Equity Research Department What is Equity Research? Equity Research basically means performing financial analysis and valuation of stocks and recommending them to buy/sell to the investors. How Equity Research Makes Money? The research reports that the equity analysts publish is for free. Equity Analysts are in touch with investors and whenever the investors need to trade, they may do it from the Sales and Trading department of their investment bank. This way they earn commission on each trade and earn money for the Investment Bank. What is a typical Equity Research job profile? Equity Research is work in small teams with each team having a sector focus. Each team consists of 1-3 members wherein at the top is the senior analyst. The associates and junior analysts help the senior analyst with research updates and calls. Who are the clients of Equity Research Department Clients of Equity Research are investors. Investors can be institutional investors like Pension Funds, insurance companies, and other asset management companies. Investors can be the retail investors as well. For more detail, please refer to https://www.wallstreetmojo.com/equity-research-in-an-investment-bank/
Views: 4050 WallStreetMojo
Investment Banking vs Equity Research | Best Differences You Must Know!
In this video on Investment Banking vs Equity Research, we will see the conceptual differences between these two finance domains. along with examples and also what works and what doesn’t. 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐫𝐨𝐥𝐞𝐬 𝐨𝐟 𝐚𝐧 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐁𝐚𝐧𝐤𝐞𝐫? ------------------------------------------------------------------------------------ Investment Bankers job is to do an extensive research on financial deals, They also co-ordinate with the deal makers to execute the major deals. They also act as an mediator between the investors and the the business which are need of financing. Hence, Investment Bankers are the major decision makers of the business. 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐫𝐨𝐥𝐞𝐬 𝐨𝐟 𝐚𝐧 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡𝐞𝐫? ------------------------------------------------------------------------------ Their role is to create the valuation models. and also the research reports through which the major decisions are being made. They are expert in valuating the companies, financial modeling, financial statement analysis etc. 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐝 𝐟𝐨𝐫 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐁𝐚𝐧𝐤𝐞𝐫 --------------------------------------------------------------------------- 1. CFA is a good option to opt for an Investment Banker 2. MBA also seems to be an better option too, as MBA offers an incredible opportunity to network which CFA never provide. 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐝 𝐟𝐨𝐫 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡𝐞𝐫 -------------------------------------------------------------------------- 1. To become an Equity Research Analyst, CFA is right course to do. CFA is a affordable course with the comparison of MBA Course. BUt Compared to MBA, CFA is very hard to complete. It has three levels which are the must to do, if you want to get the certificate. 𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐒𝐤𝐢𝐥𝐥𝐬 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐝 𝐟𝐨𝐫 𝐚𝐧 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐁𝐚𝐧𝐤𝐞𝐫 --------------------------------------------------------------------------------------------- 1. They must have a ability to create great client relationships. 2. They must being able to manage both small and large transactions. 3. They must be able to negotiate a deal with huge success. 𝐒𝐤𝐢𝐥𝐥𝐬 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐝 𝐟𝐨𝐫 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡𝐞𝐫 ------------------------------------------------------------------- 1. Researching and Analysis skills are of vital importance for equity research analysts. 2. All the huge financial deals are done on the basis of their calculation and analysis For more information regarding this, you can go to:- https://www.wallstreetmojo.com/Investment-Banking-vs-Equity-Research/ Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe - https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
Views: 3233 WallStreetMojo
Equity Research - Basics  Fundamental Analysis
Fundamental analysis is the examination of a company's financial standings by examining its financial reports.
Views: 4436 Equity Research
Equity Analysis part 1
Views: 60579 Rahul Malkan
Mock Equity Research Interview Question – Pitch Me A Stock
For candidates preparing for an equity research interview, the "Pitch Me A Stock" question will almost surely be asked at least once throughout the interview process. It is an important question that highlights the candidates who can articulate investment ideas and show an understanding of the market. So how do you prepare for this question? The question can be split into three steps; 1) The Statement 2) The Thesis 3) The Valuation Watch the full video to learn how to answer this question and take another step towards securing your dream job! If you have any other questions, please comment below. If you enjoyed the video and found it helpful, please like and subscribe to FinanceKid for more videos soon! For those who may be interested in finance and investing, I suggest you check out my Seeking Alpha profile where I write about the market and different investment opportunities. I conduct a full analysis on companies and countries while also commenting on relevant news stories. http://seekingalpha.com/author/robert-bezede/articles#regular_articles
Views: 22493 FinanceKid
Write Equity Research Report, format, process
For details, visit: http://www.financewalk.com Equity Research Process The following process should be followed while researching any company. When conducting company analysis, analysts are expected to incorporate Macro and Economic Analysis. I . Company Fundamental Analysis Step 1 : Macroeconomic Analysis • Interest rate forecasts, market performance forecasts • Economic,political and related developments of interest to investment community • Consensus concerning effect of such developments on Analyst's view of financial markets,including recommended percentage asset allocation among stocks, bonds and cash. Step 2 : Review public information • Annual Reports • Quarterly Reports • Conference Calls Step 3 : Conversations with company management for detailed information • Establish relationships with new companies • Most meetings with companies done via phone; some in-person meetings • Obtain a better understanding of--- •Trends •Leverage-margins •Efficiency programs •Costs --current, changes Step 4 : Prepare 5-Year Preliminary Earnings Model •EPS Growth Rate •Earnings Prospects •Balance sheet and cash flows Step 5 : Review financial assumptions with company as appropriate for company guidance (e.g.earnings comparisons) Step 6 : Assess •Management team •Competitive environment •Suppliers •Buyers •Substitutes •Barriers to entry •Regulatory environment •Economic Moat Step 7 : Finalize Earnings Model • Determine earnings quality • Evaluate corporate governance • Project Company's Core Earnings based on the "Core Earnings Calculation Criteria". It would be more accurate representation of the true performance of a company's ongoing operations Core Earnings Calculation should include • Employee stock option grant expense • Restructuring charges from ongoing operations • Write-downs of depreciable or amortizable operating assets • Pension costs • Purchased research and development expenses • Merger-acquisition related expenses • Unrealized gains-losses from hedging activities Core Earnings Calculation should exclude • Goodwill impairment charges • Gains-losses from asset sales • Pension gains • Litigation or insurance settlements and proceeds • Reversal of prior-year changes and provisions operation II . Company Valuation Analysis Step 8 : An Analyst must use multiple criteria for valuing a company, including: • Intrinsic Value Analysis • Relative Valuation • Sum of the Parts • Risk Assessment --Analyst incorporates a "risk premium" to derive a valuation Step 9 : Establish Intrinsic Value • Target Price over 12 months • Analyst assigns a Risk Ranking Assessment (High-Medium-Low) of projected share volatility and risk of capital loss Step 10 : Supervisory analyst review for regulatory and compliance purposes Step 11 : Repeat Steps 2, 3, 4, 8, 9 • Continuous risk-assessment • Constant updates for covered companies from primary sources. Goal: 7-8 updates per year • Quarterly updates published and distributed , Material events, Changes in recommendations,Stock Report updates
Views: 12902 Avadhut Nigudkar
My Learnings: As Equity Research Analyst
Table of Contents: 00:26 - My Journey in Equity Research World 01:56 - What did I learn? 02:32 - Financial Aspects 05:23 - Skill Sets I developed 09:18 - Interpersonal Skills 11:28 - Aspirational Aspects 13:47 - Thank You
Equity Research vs Private Equity - Which is Better?
In this video we discuss the differences between Equity Research vs Private Equity along with its roles and advantages & disadvantages. 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬 𝐁𝐞𝐭𝐰𝐞𝐞𝐧 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐯𝐬 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲 -------------------------------------------------------------------------------------------------- Equity Research is all about locating the valuation of companies listed on stock markets while private equity research, analysis and interpret your results. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡? --------------------------------------------- Equity Research is part of the investment banking industry and is intended for intellectual and qualitative students. Equity research analyst job would include discussing and sharing customer investment suggestions with traders and brokers of firms. 𝐑𝐨𝐥𝐞𝐬 𝐨𝐟 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 --------------------------------------------- #1 - Trainee #2 - Associate #3 - Senior Analyst 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐨𝐟 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -------------------------------------------------------- #1 - Good salary #2 - A wide range of options to exit and work #3 - Stable working hours 𝐃𝐢𝐬𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐨𝐟 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 ------------------------------------------------------------- #1 - Desk-bound job #2 - Longer lifespan of seating in front of the computer #3 - Pressure between departments 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲? ---------------------------------------- A private equity analyst is a person who uses financial modeling methods to research and evaluate private companies. 𝐑𝐨𝐥𝐞𝐬 𝐨𝐟 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲 ------------------------------------------ #1 - Analysts #2 - Associates #3 - Associate Director 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐨𝐟 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲 ---------------------------------------------------- #1 - Feasible working hours #2 - Sufficient knowledge to gain 𝐃𝐢𝐬𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐨𝐟 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲 -------------------------------------------------------- #1 - In-depth study of things #2 - Not much recognition as compared to other fields To know more about 𝐄𝐪𝐮𝐢𝐭𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐯𝐬 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲, you can go to this 𝐥𝐢𝐧𝐤 𝐡𝐞𝐫𝐞: https://www.wallstreetmojo.com/equity-research-vs-private-equity/ Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe - https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
Views: 414 WallStreetMojo
Building Quant Equity Strategies in Python
Presented by Dr. Jess Stauth Dr Jess Stauth, VP of Quant Strategy at Quantopian, former quant research analyst at StarMine, and former director of quant product strategy for Thomson-Reuters. Quantopian is the first algorithmic trading platform in the browser and a robust platform for writing algorithms, backtesting against over a decade of stock data, paper-trading, and live-trading through a brokerage account. Quantopian also hosts a strong community of quants and developers where members can learn from each other and collaborate. https://www.quantopian.com/
Views: 90670 Python Quants
Basics of Equity Research Career, Pay, Salary
For details, visit: http://www.financewalk.com Basics of Equity Research Career, Pay, Salary Equity research analysts work on both the sell side and the buy side. Sell-side researchers will work at an investment bank or independent research company, while the buy side typically indicates hedge funds, mutual funds or investment management. On the sell side, researchers develop earnings and cash-flow models of the companies they follow. The research is driven by stock performance: Is Infosys, for example, a good investment for a shareholder? A sell-side analyst will cover a specific group of companies and -know more about less- compared to a buy-side analyst. For example, an analyst might cover 10 Healthcare companies, write reports and make presentations to the clients, which may include investment managers like Fidelity and Morgan Stanley.. On the buy side, an analyst will follow 20 to 40 companies in two to three different sectors. The buy-side analyst focuses on suitability elements for the client involved. They don't publish their research like sell-side analysts do, but instead feed their insights to the portfolio managers who are managing money for the client. Reports can range from two to three pages after a company's earnings to 10 to 15 pages for a longer outlook piece. Not all analysts have to cover companies, however. Some analysts analyze macro trends across countries and for that you have to stay on top of current events. The Pay The pay includes salary + bonus. This bonus depends on the performance of the analyst The Lifestyle The hours required are less intensive than investment-banking hours. You need to put 10-12 hours every day. If you're working as an analyst on the sell side, arrive early. Sell side firms produce morning packages for the clients and so you need to come early. The position may offer greater flexibility than other finance jobs. At some equity research firms in Mumbai, analysts work 50 to 60 hours a week Your output is measured in terms of research and not the number of hours you put in.
Views: 19354 Avadhut Nigudkar
Financial Modeling for Equity Research
If you are planning a career in Equity Research, Investment Banking, Private Equity, or Asset Management, you are going to have to learn financial modeling. In this video I demonstrate how to use my book "Financial Modeling for Equity Research" to build an earnings model. The book featured in this video is available on Amazon: http://amzn.to/2yHfmlz Terms of Use: https://www.gutenbergresearch.com/terms-of-use.html Facebook: https://www.facebook.com/GutenbergEquityResearch/ StockTwits: http://stocktwits.com/GutenbergResearch Google+: https://plus.google.com/+GutenbergResearchLLC/about Twitter: https://twitter.com/GutenbergRes LinkedIn: https://www.linkedin.com/company/gutenberg-equity-resarch
Views: 12520 GutenbergResearch
Learn the Basic concepts of an Equity Research Analyst
Course: Fundamental Analysis & Behavioral Finance Url: http://www.elearnmarkets.com/packages/index/online-equity-research-analysis Website: http://www.elearnmarkets.com/ This video is a screen recording of the Online live interactive class conducted by Elearnmarkets. This course is aimed at people who would like to develop an expertise as an individual investor, venture into the world of equity research or just want to be self sufficient in analysing companies and making investment decisions on their own The course would cover basic investment topics as well as advanced fundamental concepts in a manner which is easy to understand for someone without a background in accounting. It includes discussions via case studies, understanding broader investment topics, outlines on how to analyse a company, evaluation of companies, comprehend the annual report, capital allocation decision, portfolio construction and rebalancing and creating a correct psychological framework that will help one traverse various cycles of markets.
Views: 2844 Elearnmarkets.com
Equity Research Report Writing Training
https://www.educba.com/course/equity-research-report-writing-training/ A report is a form of communication from a securities firm to its clients with a specific purpose to help an investor take decisions. Report writing forms an important component of finance studies as it is the one which represents your findings and analysis on a company’s financial data.
Views: 4098 eduCBA
Here's how AI can compete with equity research analysts
Art Amador, Equbot co-founder and COO, joins the 'Power Lunch' team to discuss how his company is using artificial intelligence to do the work of an army of equity research analysts all for one mind.
Views: 1195 CNBC Television
How to become a Research Analyst - Part 1
What does a Research Analyst do? Where are the roles available for a Research Analyst? Watch this video to find out! About FLIP: FLIP (Finitiatives Learning India Pvt. Ltd. | www.learnwithflip.com ), a senior IIM alumni initiative, offers India’s most powerful, career-oriented certification programs, in Banking & Financial Services (BFS). Leading banks & FIs have signed contracts to “Prefer/Give weightage to a FLIP certified candidate” – the only such endorsement in India. Learn more about FLIP's industry endorsed Research Analyst certification program: https://www.learnwithflip.com/programs/research-analyst
Views: 4539 FLIP learnwithflip
5 U.S. Equity Analysts Share What They Learned on the Job
The best ideas come from clients, says J. Michael Webber Jr., this year's top analyst in the Shipping sector. Director/Editor: Diana Panfil Originally published October 28, 2015 http://bit.ly/1lYdj2E Watch Institutional Investor's latest videos at http://iim.ag/videos Get more from Institutional Investor at http://iim.ag
A Day in the Life of an Equity Research Analyst l FinanceWalk
A Day in the life of Equity Research Analyst For details, visit: https://www.financewalk.com This time table represents a typical day for an equity analyst on the traditional sell-side, whether you are working for a bulge-bracket investment bank or a mid-tier boutique. I hope you gain an appreciation for the responsibilities you will have, the interesting discussions that will take place, as well as the realities that you will experience on the job. The benefits (salary, lunches at fine restaurants, etc) may sound nice, but it requires you to make life adjustments . 7:30AM: Come to office. Start your computer and check for any morning news. Focus on the morning meeting. Make the notes and prepare for possible questions from sales and trading. You might spend 15 – 30 minutes catching up on emails from traders and salespeople, reading the news, and understanding the market as a whole. Stock movements can be affected by anything from the company itself to global economic news. 8:00AM: Check again for any breaking news. 8:30AM: Morning meeting…Pass out hard copies of the note on Company Infosys… 8:45 AM: Morning meeting is over. Check email for any additional questions from research note published today. Check calendar for any meetings 9:00AM: Markets open. Check early morning trading 10:00AM: Phone starts ringing…clients are interested in discussing morning note on Company Infosys… questions answered. 10:30AM: Prepare for management meeting. 11:00AM: WIPRO management meeting. 12:30AM: Meet with analyst from hedge fund at restaurant 2:00 PM: Search the internet for information on new companies in the sector 4:00 PM: Markets closed up 3.0%…Many stocks were hit. Wait for an announcement from one of your sectors companies 5:00 PM: Conference call with a new company in the sector. Remember, this account represents a typical, though long, day in the life of an associate analyst (the entry level position). An average work week might be 55 to 70 hours. As you move up the ladder to Analyst and Senior Analyst, the stress and responsibilities will increase but as you build a strong team and have more years of experience under your belt, managing the work-life balance become easier and you’ll be able to pursue outside interests again.
Views: 269 Avadhut Nigudkar
My Career, My CFA Charter: An Equity Analyst in Hong Kong
What does it take to be a successful equity analyst? Hong Kong native Silvia Fun, CFA, gives us a peek into her exciting job and shares how the CFA Program made a difference in her career. Learn more at www.cfainstitute.org/cfaprogram.
Views: 59350 CFA Institute
⨘ } Equity Research } Qualitative and Quantitative analysis }
This video lecture discusses about qualitative and quantitative factors, inherent stability and management factors. If you like to have private consultation/lessons, you are very welcome to contact at [email protected] Do not forget to subscribe { Leprofesseur } YouTube channel. Subscription to the channel helps to keep you up-to-date with latest videos. Your feedback and comments are very much appreciated. Sincerely, H.
NSE Academy Certified Equity Research Analysis
Course URL: https://goo.gl/CYa1rJ This course will help you to be a better investor as well as provide participants with an understanding of how to identify, analyse the financial statements of a business and invest in companies and make better investment decisions. This program also helps an individual to become a equity research analyst by providing complete understanding of capital market & Industry Analysis. For Offline i.e. Classroom Courses, Contact: Ms. Neelam Gupta: - +91-9748222555 [email protected] For Online Live as well As Recorded classes, Contact: - Ms. Puja Shaw: - +91-9903432255 [email protected]
Views: 4114 Elearnmarkets.com
Travel Morning Routine || Day in My Life as a Private Equity Analyst
xoxo Anna ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ S O C I A L M E D I A Twitter - @smilecuzurhappy Instagram - @anna_graziella Pinterest - Anna Graziella Facebook - https://www.facebook.com/annagraziellayoutube Blog - https://annagraziella.wordpress.com ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ V I D E O S Y O U M A Y L I K E Morning Routine - https://www.youtube.com/watch?v=ML90396Hq1k Room Tour - https://www.youtube.com/watch?v=QclEDFWgKVY Boyfriend Tag - https://www.youtube.com/watch?v=_kGxiJE_3tI ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ M U S I C " " By ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ ◌ C O N T A C T M E Business Email - [email protected]
Views: 28472 Anna Graziella
Oil & Gas Stock Pitch: How to Research and Present It
In this tutorial, you'll learn how to research, structure, and present an oil & gas stock pitch. More at http://www.mergersandinquisitions.com/oil-gas-stock-pitch/ You'll also learn how it's different from investment recommendations and stock pitches in other industries. We'll use Ultra Petroleum [UPL] as the example company, and present a SHORT recommendation based on a detailed analysis of their filings, investor presentations, and earnings call transcripts, along with a complex Net Asset Value (NAV) Model, based on individual wells drilled in different regions. Table of Contents: 1:19 The Structure of an Oil & Gas Stock Pitch 3:15 Investment Thesis 6:19 Catalysts 10:42 Valuation 13:38 Risk Factors 15:51 Why This Recommendation Was Wrong 19:25 Recap and Summary Investment Thesis Why is the company mis-priced? How does the market view it, and why is everyone else wrong? Here, we cite 3 reasons: 1. The company has overstated its average EUR per well in some regions, which means its reserves may be overstated or otherwise inaccurate. 2. Cutting capital expenditures (D&C Costs) and operating expenses (LOE) over time makes less of an impact on the company's implied value than they claim it does - being a low-cost producer is nice, but even substantial reductions over time don't boost the value by all that much. 3. Drilling in Pennsylvania may be stopped or reduced due to the company's JV partners, and the market hasn't yet factored in the chances of that happening and the impact on the company's implied value. Catalysts A few examples of potential catalysts: Oil & Gas-Specific: Reserve Reports / Drill Results, Well Drilling Schedules / Expanded or Reduced Drilling, Produce / No Produce Decisions, New Technology Deployment to reduce D&C Costs, Improved Well Spacing, Pipeline Developments, Hedging Contract Changes More Generic: Geographic Expansion, Acquisitions or Divestitures, Earnings Announcements, Competitors' Activities, Financing Activities For UPL, we use these 3 catalysts: 1. The close of the $650 million Uinta Basin acquisition. 2. The release of new reserve reports from the company's existing regions. 3. The possible halt to drilling in the Marcellus shale of Pennsylvania. For each one, we show the implied per share impact on the company based on the NAV model. Valuation We use the NAV model here, lay out our assumptions in the beginning, and then mostly focus on the OUTPUT of the model to avoid pasting in sheets and sheets of Excel. With the NAV Model, you split the company into existing production (PDP and PDNP) and new production (PUD, PROB, and POSS), make "high-level" estimates for the existing production, and assume a decline rate over time. For the others, assume that a certain # of new wells are drilled each year, assume that they start producing at a certain level and then decline to 0 over time, and then project the revenue, expenses, CapEx, and cash flow for each region and reserve type... Finally, you sum up everything at the end. The main point is to show that the assumption we're MOST uncertain of - EUR per well - makes a huge difference on the valuation... ...While other assumptions, such as the D&C Costs and LOE per well, make a smaller difference and so it doesn't matter much even if the company can reduce those costs. Risk Factors You can "reverse" the catalysts and ask, "What happens if this catalyst does NOT happen, or what if the results are different than expected?" Our top risk factors are: 1. The $650 million Uinta Basin acquisition fails to close. 2. Even if the acquisition does close, initial drilling reports might be positive and indicate higher-than-expected reserve levels. 3. Full drilling continues in the Marcellus shale as natural gas prices recover. 4. The company's improved well spacing pilots prove successful, and it is able to increase its effective EUR per well. So the first 3 are "reversals" of the catalysts, and we therefore also assess the implied per share impact from them. The last risk factor is more of an "X Factor" type of item that might cause the company's reserves to jump up dramatically if executed well. Why This Recommendation Was Wrong First off, gas prices spiked up to very high levels ($7.00 - $8.00) due to an unusually cold winter. That killed the "Short" recommendation since all oil & gas companies become more valuable when commodity prices spike up. Next, the company beat revenue and EPS consensus estimates twice in the past 6-7 months after this pitch; equity research analysts also upgraded their ratings on the stock. Finally, the stock had already fallen substantially in the past 2-3 years before this... so our timing wasn't great. How to Avoid Disaster: We recommended setting a buy-stop order at $23.00 - $24.00 / share to limit our losses. That would have limited our losses to ~25%.
Top 5 Skills that make a Successful Equity Research Analyst
Based on our conversations with the top equity analysts in the industry, as well as detailed hiring discussions with heads of research across Tokyo, we have compiled a list of the five most important skills. Tune in for our top 5 tips!
Views: 3936 MorganMcKinley
Research Analysis in a simple way || Become Research Analyst
Research Analyst is an important position in Financial Industry and to work in this sector one must clear Research Analyst SEBI NISM XV Series Certification. This exam is compulsory for all those going for financial advisory, Research houses. tips through any means – as on individual, SMS, Website, TV, Radio, Newspaper, or any after mode. This is a very valued programme and one can stand apart from the crowd. https://www.ifmcinstitute.com/online-courses/research-analyst-course/ IFMC is committed to producing Stock Market Analysts (SMA), Equity Analyst / Research Analyst (RA) and professionals for this upcoming sector NSE, SEBI and Stock Market. IFMC provides short term job oriented courses in the share market, the stock market, capital market, commodity market, currency or forex market, / derivative market (future and options) and option strategy. IFMC also offers certificate courses for technical analysis, fundamental analysis, research analyst, NSE, BSE, NCFM, NISM, BCSM, MCX, NCDEX, MCKSX, MODULES PREPARATION AND CERTIFICATION, CDSL, NSDL, DP, MODULES preparation, risk management, etc. For admission inquiry contact at - 09810216889, 09650066987 Visit us at https://www.ifmcinstitute.com/ Online research analysis course: https://www.ifmcinstitute.com/online-stock-market-courses/research-analyst-course/ Best stock market institute Delhi: https://www.ifmcinstitute.com/locations/best-stock-market-institute-delhi JOIN US ON:- Blog: https://www.ifmcinstitute.com/blog/ Facebook: https://www.facebook.com/ifmcinstitute/ Twitter: https://twitter.com/ifmcinstitute/ Linkedin: https://www.linkedin.com/in/ifmc-institute/ Youtube: https://www.youtube.com/channel/UCbOkZlwRtOP3EGGAYd-Z Instagram: https://www.instagram.com/ifmcinstituteofficial/ Pinterest: https://www.pinterest.co.uk/ifmcinstitute/
Views: 9200 IFMC Institute
Buy Side Sell Side Analyst, Job Description of Equity Research Analyst
For details, visit: http://www.financewalk.com Buy Side Sell Side Analyst, Job Description of Equity Research Analyst Sell Side Analysts and Buy Side Analysts So, after knowing the job description, working conditions and career development opportunities, you have decied to be an equity research analyst. Now, tell me- do you want to work on the buy side or the sell side? Confused? Don't know what's the sell side and what's the buy side? Let me explain.. All equity and credit analysts perform research in order to make buy and sell recommendations. The ultimate user of those recommendations and the clients who pay the bills determine if you are on the buy side or the sell side. Sell Side Analysts • Sell side analysts, also known as equity research analysts, are generally the analysts you see on financial news channels recommending stocks. They perform research and make recommendations that are sold to others to use -- this is why you see them on television. Sell side analysts do not use the research for their own portfolios, their goal is to sell their research to others to use in their portfolios. Generally, their research is sold to the buy side -- buy side analysts are the clients of sell side analysts. • Sell side analysts closely follow companies and issue research reports and earnings models for their coverage universe. Their coverage universe is usually focused on a specific niche or sector ( e.g. Telecom, Healthcare, Metal). If you've ever listened to a company's quarterly conference call, then you've listened to sell side analysts as they are typically on the calls asking questions of management. • One key difference between buy side and sell side analysts is the role of marketing. Sell side analysts spend a large amount of time talking to existing clients and potential new clients about their research. Their job is to convince institutional investors (i.e., buy side analysts) that their research is worth paying for --through trading commissions with their firm. • Backing up a bit, sell side analysts are typically employed by two types of firms: the large, bulge bracket brokerage houses and investment banks that are household names or smaller, boutique research shops that only provide research. The larger firms have trading desks, so a portion of the trading commissions generated are paid in exchange for access to that firms sell side research. For the smaller firms without trading desk, the research is typically paid through cash. • Another key difference between buy side analysts and sell side analysts applies to those sell side analysts at the large brokerage firms that have investment banks. One role of the investment bank is to raise capital for public companies -- the same public companies that its research analysts cover. This creates a serious conflict of interest because the investment bankers don't want its research analysts slapping SELL ratings on companies where they are trying to raise capital. Sarbanes-Oxley has rules that strengthened the Chinese walls between the research groups and the bankers, but the internal conflict is still there and evidenced by the very high percentage of BUY recommendations issued by analysts compared to an almost zero number of SELL ratings.
Views: 12340 Avadhut Nigudkar
5. Hindi: Equity Research Analysis Excel (Live projects for students and ideas for investors)
Money Bee's Online Modules have got over 1300 Registrations. To join Students Special Online Module visit: https://moneybee.info/register_new.php?id=10 Fee: Rs. 100 + GST. Shailesh Sir: 8600043130
Day in the Life of a Credit Analyst | PIMCO
Christian Stracke, Global Head of Credit Research, offers an inside look at PIMCO’s intensive credit research process and how it led the firm to invest in pipeline companies as oil reached its 2016 low. For more information, visit http://pimco.com Follow us for insights on economies, markets and investing: Twitter: https://twitter.com/pimco LinkedIn: http://www.linkedin.com/company/pimco Facebook: http://www.facebook.com/pimco Blog: http://blog.pimco.com Terms and conditions: pimco.com/socialmedia
Views: 75806 PIMCO
A Day in the Life of a Goldman Sachs Analyst (The HONEST Truth)
TIMESTAMPS 00:43 Last week’s video 01:13 Background 02:16 The two most common analyst roles 03:00 Four key parts of an analyst’s role 04:05 A typical day 06:21 Hours of work 06:36 What does ‘work’ actually mean 06:56 The morning meeting 08:09 Internal vs external meetings (09:46) 10:22 The analyst’s role in client meetings 11:29 Internal (team) requests vs external (client) requests 14:54 Expanding your network at work 15:35 Personal and career development as an analyst 16:04 Stretch assignments 17:50 Commercial awareness 19:52 The most valuable individuals 21:31 Technical (investment/product) analyst roles 22:27 Summary 23:15 A word of advice Last weeks video - 'Investment Banking 101 | Front Office vs Back Office': https://www.youtube.com/watch?v=KLGlzR9a1sg PLEASE LEAVE VIDEO SUGGESTIONS/IDEAS AND QUESTIONS IN THE COMMENTS BELOW. I like sharing practical, helpful and easy to understand advice on how to get the career of your dreams whether you're a student, graduate or experienced professional. Careers can be tricky. I want to change that. Make sure to hit the subscribe button to watch new videos every week! https://www.afzalhussein.com Visit my website for tips on CV's/Resumes and more career advice: https://www.officialcvdoctor.com/ Follow me: Instagram: https://www.instagram.com/afzal_hussein/ LinkedIn: https://www.linkedin.com/in/afzalhussein Twitter: https://twitter.com/Afzal_Hussein_ Know any talented millennials? Send them here: https://www.T100.co.uk Intro music: https://goo.gl/qN1M5t #GoldmanSachs #InvestmentBanking #Students
Views: 298901 Afzal Hussein
Equity Research Analyst Interview Questions
Interview Questions for Equity Research Analyst.What are your professional objectives for an Equity Research Analyst?Do you prefer to work independently or on a team?What are the potentials of an elegant Equity Research Analyst?Why do you think you are eligible for the position of Equity Research Analyst?How well did your college experience prepare you for this job?
Views: 680 Star Job
What's the difference between investment banking and private equity?
Sherjan Husainie, of Leaders Global Network, offers career workshops in ten major cities around the world. He has worked in both investment banking at Morgan Stanley and in private equity at Google Capital. For more info, visit http://www.leadersgn.com/
Views: 236672 Career Insider Business
Sell side vs Buy side Analysts
This video discusses the difference between sell-side analysts and buy-side analysts. Sell-side analysts typically work for a brokerage firm or an investment bank and follow one or more companies within a specific industry. They forecast a company's earnings per share, issue a price target for the stock, and provide buy/sell/hold recommendations in the hope that investors would find the information useful and choose to do business with their investment bank or brokerage firm. Buy-side analysts, on the other hand, typically work for a pension fund, charitable foundation, or other large investor. The buy-side analyst's job is to identify attractive investment opportunities for their employer. A pension fund with $100 million to invest would rely on buy-side analysts to determine the appropriate investment strategy. Buy-side analysts in turn may interact with and rely on the information provided by sell-side analysts. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 10697 Edspira
CFA level I-Equity Valuation and Analysis- Part I
FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level I Classes in Pune (India). This video lecture covers following key area's: 1. Evaluation of a security given its current rate market price and a value estimate , is overvalued, fairly valued or undervalued by the market. 2. Major categories of equity valuation models. 3. Rationale for using present-value of cash flow models to value equity & explains 4. dividend discount and free-cash-flow-to-equity models. 5. Calculation of intrinsic value of a non-callable , non-convertible preferred stock. 6. Calculation and interpret the intrinsic value of an equity security based on the Gordon (constant) growth dividend discount model or a two-stage dividend discount model, as appropriate. 7. Companies for which the constant growth or a multistage dividend discount model is appropriate. 8. Rationale for using price multiples to value equity and distinguish between multiples based on comparables versus multiples based on fundamentals. 9. Calculation and interpretation of price to earnings, price to an estimate of operating cash flow, price to sales, and price to book value. 10. The use of enterprise value multiples in equity valuation and demonstrate the use of enterprise value multiples to estimate equity value. 11. Asset-based valuation models and the use of asset-based models to calculate equity value. 12. Advantages and disadvantages of each category of valuation model. #CFA #FRM #FinTree
Views: 85106 FinTree
My Learnings as Equity Research Analyst
Video I had prepared a few years before share with you with some editing. To know more about our equity research workshops, visit: http://archive.benchmarkemail.com/Consci-Consultancy-Pvt--Ltd-/newsletter/EQR11
Views: 455 Harshad Deshpande
6. Hindi: Equity Research Analysis Excel (Select companies for Portfolio from India's GDP data)
Money Bee's Online Modules have got over 1300 Registrations. To join Students Special Online Module visit: https://moneybee.info/register_new.php?id=10 Fee: Rs. 100 + GST. Shailesh Sir: 8600043130
How to become a Research Analyst - Part 2
What is the career path for a Research Analyst? How does one stand out in an Interview? Watch this video to find out! About FLIP: FLIP (Finitiatives Learning India Pvt. Ltd. | www.learnwithflip.com ), a senior IIM alumni initiative, offers India’s most powerful, career-oriented certification programs, in Banking & Financial Services (BFS). Leading banks & FIs have signed contracts to “Prefer/Give weightage to a FLIP certified candidate” – the only such endorsement in India. Learn more about FLIP's industry endorsed Research Analyst certification program: https://www.learnwithflip.com/programs/research-analyst
Views: 1534 FLIP learnwithflip
Best Practices for Equity Research Analysts
A former Morgan Stanley analyst, explains in his new book Best Practices for Equity Research Analysts, everything today's competitive analyst needs to know, providing practical training materials for buy and sell-side research analysis in the United States and globally. This book covers the five primary areas of the equity research analyst's role: Identifying and monitoring critical factors, Creating and updating financial forecasts, Deriving price targets or a range of targets, Making stock recommendations and Communicating stock ideas. Best Practices for Equity Research Analysts Book: http://www.amazon.com/Best-Practices-Equity-Research-Analysts/dp/0071736387/ref=sr_1_fkmr0_1?s=books&ie=UTF8&qid=1339603455&sr=1-1-fkmr0 Follow McGraw-Hill Professional Twitter: https://twitter.com/MHBusiness Facebook: http://www.facebook.com/mcgrawhillprofessional.business Blog: http://www.mhprofessional.com/businessblog.
Views: 24856 McGrawHillPro
A Day in the Life of a Wall Street Analyst
Meet Nataliya, a securitization analyst in our New York office. From developing new products to grabbing a drink with her coworkers, Nataliya shows us what life is like at Mizuho. Learn more about Careers at Mizuho: https://www.mizuhoamericas.com/careers
Views: 114410 Mizuho Americas
Financial Modeling for Equity Research Training - Types of Valuation
Financial Modeling for Equity Research - Types of Valuations, Dividend discounting, Relative Valuation, Residual Valuation, Regression Based Valuation Models using EXCEL. Financial Statements Analysis using EXCEL, Derivatives & Risk Modeling, Infrastructure, Project Finance training also available.
Views: 14692 Vamsidhar Ambatipudi
Importance of Research Analyst ll IFMC Institute ll
Research Analyst is an important position in Financial Industry and to work in this sector one must clear Research Analyst SEBI NISM XV Series Certification. This exam is compulsory for all those going for financial advisory, Research houses. tips through any means – as on individual, SMS, Website, TV, Radio, Newspaper, or any after mode. This is a very valued programme and one can stand apart from the crowd. https://www.ifmcinstitute.com/online-courses/research-analyst-course/ IFMC is committed to producing Stock Market Analysts (SMA), Equity Analyst / Research Analyst (RA) and professionals for this upcoming sector NSE, SEBI and Stock Market. IFMC provides short term job oriented courses in the share market, the stock market, capital market, commodity market, currency or forex market, / derivative market (future and options) and option strategy. IFMC also offers certificate courses for technical analysis, fundamental analysis, research analyst, NSE, BSE, NCFM, NISM, BCSM, MCX, NCDEX, MCKSX, MODULES PREPARATION AND CERTIFICATION, CDSL, NSDL, DP, MODULES preparation, risk management etc. For admission inquiry contact at - 09810216889, 09650066987 Visit us at https://www.ifmcinstitute.com/ Classroom Research analyst course: https://www.ifmcinstitute.com/classroom-stock-market-courses/research-analyst-sebi-nism-xv-series/ Online research analyst course: https://www.ifmcinstitute.com/online-stock-market-courses/research-analyst-course/ Become a professional stock trader: https://www.ifmcinstitute.com/become-a-professional-stock-market-trader/ Learn stock market Delhi: https://www.ifmcinstitute.com/locations/learn-stock-market-delhi/ JOIN US ON:- Blog: https://www.ifmcinstitute.com/blog/ Facebook: https://www.facebook.com/ifmcinstitute/ Twitter: https://twitter.com/ifmcinstitute/ Linkedin: https://www.linkedin.com/in/ifmc-institute/ Youtube: https://www.youtube.com/channel/UCbOkZlwRtOP3EGGAYd-Z Instagram: https://www.instagram.com/ifmcinstituteofficial/ Pinterest: https://www.pinterest.co.uk/ifmcinstitute/
Views: 4733 IFMC Institute
How to Write Equity Research Report -II
For details, visit: http://www.financewalk.com How to Write Equity Research Report -II Criteria - Meaning of the terms used 1. Intrinsic Value Analysis Determine security's "intrinsic value" based on discounted "free" cash flow (DCF) analysis. Estimates of future "free" cash flows are discounted back to current rupees, including variables like risk assessment and capital structure • Present value of shares vs. current share price • 10-15 year projection • Defined parameters around DCF to make it more reasonable (e.g. interest rate inputs) 2. Relative Valuation • Assessing a security's relative value by comparing appropriate financial ratios across peer groups • Comparison with industry group  Price-Earnings (P-E)  Efficiency  Margins • Company value  P-E trading history  High-low in cycle  Current P-E level justification • Valuation vs. appropriate index 3. Sum of the Parts Determining "fair value"of a stock by determining private market values for a firm's individual units • No clear comparison and-or conglomerate • Break divisions up as stand-alone business units • Calculate a relative value for each division • Arrive at a blended valuation 4.Risk Assessment • Insider buying • Beta • Event Risks like litigation, single-product risk, regulatory changes etc. 5. Economic Moat • Economic moat is a term used by Warren Buffett to describe the predictability and sustainability of a company's future profits. • If a company earns a high ROIC, it attracts competitors, which then capture a portion of those excess returns. Only companies with wide economic moats—something inherent in their businesses that competitors cannot replicate—can hope to keep these competitive forces at bay for a prolonged period. • In short, It's a measure of a company's competitive strength (Competitive advantage) and the predictability of its free cash flows. Pointers for writing Equity Research Report 1. Before writing equity research report, have a clear view of the company in mind, it's investment rationale, risk assessment, key growth drivers, cost drivers and revenue drivers. 2. Mention the company's name, your recommendation-rating as "buy ","sale ",or ,"hold ". You can also use the words "outperform ","underperform " , OR "Neutral " or "Accumulate" based on your valuation. 3. Give your calculated target price clearly on the first page of the report (see the reports in this folder for reference) 4. Give your investment rationale-conclusion clearly: why do you think the company's share price will go up or down. 5. Include a chart of price of share of the company in the last one year on BSE-NSE 6. Analyse the company's business model and interpret the likely scenario in the next 2-3 years. 7. For a quick snapshot of company's key ratios and statistics, include parameters like Price target, Upside to price target(%),52-week high-low price, Market Cap, Enterprise Value, EBITDA, EV-EBITDA, Div.yield(%) on the first page itself. 8. Forecast Income statement, Balance Sheet, Cash Flow statement and key ratios for the next 3 years. 9. Analyse the company's product profile and its various segments and brands. Include the analysis of the current sales and forecasted figures of revenues, cost, market size, company's market share, competition and its performance in domestic and other markets. 10. After including analysis of economy -industry -company analysis of the company, go for the valuation methods. 11. Perform DCF Analysis and Relative Valuation(with the company' s peers)based on parameters like EPS,P-E, P-Book, P-Sales, ROE, ROCE. 12. Write proper reasoning for your recommendations. For example, why to buy the shares of the company? OR why NOT to buy the shares? 13. Analyse and mention what could trigger-unlock-reduce the value of the company,what is the demand -supply mechanics for the company s products. 14. See if the company is fighting any legal battle and what would be its repercussions 15. While writing industry reports, analyse the points which are common across the players like regulatory limitation,excise duty,oil prices etc. 16. The main thing in writing the equity research report is assuming that the user-reader of the report is new to the company and giving him the precise information about the company by touching all the areas: Product, Financials, Management, Market, Future Plans, Growth estimates, Risk factors etc. 17. Please go through the reports carefully,given in this module to understand How to write Equity Research Report quickly.
Views: 3239 Avadhut Nigudkar
Equity Research Analyst Tip of the Week: Put your heart into the models
Many of my clients are trying to get into equity research on the buy side, and here's what I commonly see missing from their models. The heart is missing. Here's what I mean. Especially if you are a senior professional looking to transfer existing skills to a buy side position, your best bet is to apply a body of knowledge you have already developed rather than try to reinvent the wheel and make up for knowledge you don't have. Here's an example. I once spoke with a junior professional who worked in mining. And another one who worked in technology. My advice was to create a sector concentrated strategy on mining (or technology in the second case) and apply your hands on knowledge gained from working in that industry. In this way, you can uncover insights than even the most talented analyst could ever see. All because you've lived in that space and you know it better. I've talked before about the difference between models that are impractical and far-fetched vs. those that are most relevant. The ones that win you the job are the ones that show how you can "click in" to the role with the most impact.
Views: 301 Grillo Invest
The Morningstar Approach to Equity Research
Morningstar Head of Global Equity Research Elizabeth Collins discusses how Morningstar’s methodology has evolved with the markets over time and provides an overview of the single consistent process that all of its equity analysts follow. Learn more: https://www.vaneck.com/videos/the-morningstar-approach-to-equity-research/
Views: 234 VanEck
Financial Analyst Interview Questions and Answers - For Freshers and Experienced Candidates
Learn most important Financial Analyst Interview Questions and Answers, asked at every interview. These Interview questions will be useful to all entry level candidates, beginners, interns and experienced candidates interviewing for the role of Financial Analysts across various domains like banking, financial, investment, statistical etc. The examples and sample answers with each question will make it easier for candidates to understand these conceptual, situational and behavioral interview questions.
Views: 30625 CareerRide