Best Practices for Equity Research Analysts:

The first real-world guide for training equity research analysts!Best Practices for Equity Research Analysiscovers everything budding young analysts need to know, from technical areas, such as building models and using valuation tools, to the best approach to interviewing company management. The book identifies and teaches the profession's ten best-practices areas and details 75 specific best practices within those areas. Chapters include: Selecting the Optimal Stock UniverseDon't Let Others Choose Your Fate Sectors Before StocksMaximizing Long-Run Performance Uncover Proprietary Industry Sources for an Edge Get the Most From Interviews with Management and Information Sources; Create Financial Forecasts with Just Enough Detail to Spot Anomalies; Frameworks for Deciding Between Buy, Hold, and Sell Tips to Ensure You Don't Stray From Ethical Practices

James J. Valentine spent 16 years working for top institutions, including Morgan Stanley, Salomon Brothers, Smith Barney, and PaineWebber; he was Director of Global Training and Development for Morgan Stanley's Research Department from 2006 to 2008. For 10 consecutive years, he was ranked by Institutional Investor as one of the top three Wall Street analysts within his sector, and in 2006 Forbes named him one of the top three Wall Street analysts among all 2,000 sell-side analysts eligible that year.

List of Exhibits	p. xi
Preface	p. xvii
Acknowledgments	p. xxiii
Introduction	p. 1
Do You Have What It Takes to Be a Successful Analyst?	p. 9
Mastering Organization and Interpersonal Skills	p. 15
Take Control to Optimize the Coverage Universe	p. 17
Prioritize Time for the Most Valuable Activities	p. 27
Influence Others to Accumulate Insights and Get Heard	p. 43
Construct and Organize an Information Hub	p. 51
Buy-Side Only: Maximize Benefits of Sell-Side Relationships	p. 67
Generating Qualitative Insights	p. 77
Identify Factors That Impact a Sector's Valuation and Performance	p. 79
Identify and Monitor a Stock's Critical Factors	p. 93
Create Sustainable Proprietary Sources of Insight	p. 119
Get the Most from Interviewing for Insights	p. 137
Generating Quantitative Insights	p. 153
Detect Deceptive Numbers	p. 157
Leverage Statistics for Insights	p. 163
Conduct Surveys to Acquire Unique Insights	p. 185
Identify Yellow Flags through Forensic Accounting	p. 195
Identify the Relevant Microsoft Excel Features for Equity Research Analysts	p. 217
Creating the Best Spreadsheet Architecture for Financial Analysis	p. 225
Develop Company Financial Models to Elicit Insights	p. 233
Forecast Scenarios for the Most Important Critical Factors	p. 245
Mastering Practical Valuation and Stock-Picking Skills	p. 255
Understand the Benefits and Limitations of Common Valuation Methodologies	p. 257
Overcome Challenges to Creating Discerning Stock Calls	p. 271
Avoid Common Psychological Challenges That Impede Sound Investing	p. 305
Leverage Technical Analysis to Improve Fundamental Analysis	p. 325
Communicating Stock Ideas So Others Take Action	p. 341
Create Content That Has Value	p. 343
Identify the Optimal Communication Channels	p. 351
Convey the 7 Critical Elements of Stock Recommendations	p. 357
Special Considerations for the Most Important Delivery Channels	p. 371
Making Ethical Decisions	p. 389
Identify and Resolve Ethical Challenges	p. 391
Works Cited	p. 403
Index	p. 407
Table of Contents provided by Ingram. All Rights Reserved.

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Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-Side Analysts

Summary

Author Biography

Table of Contents

Supplemental Materials