Equity Research Value Investing
I'm currently a student in college and am extremely interested in equity research, but also have a fondness for value investing. I've read and continue to read many books on the subject. For most Equity Research positions on the buy-side, would taking this mindset into an interview be a hindrance? It seems like most equity research aims to put a target price in the near-term, without much regard to longer term holding, but I could be completely wrong on this. I don't want to plan a lot of theses around this mindset if most firms don't subscribe to it, but at the same time I would be very interested to learn which this would appeal to. Thanks!
How could it possibly be a hindrance to have an investment opinion/style if trying to work in investing?
Of course it doesn't hurt. Most firms will say they subscribe to a value philosophy anyway, even if they're not 'deep value' 5+ year holding period one-idea-per-year shops. Everyone is trying to buy/sell mis-priced assets, there's really not another way to make money in equity. But really, the best theses come from understanding the business/industry and making calls based on what fundamentals will look like over time, and I think that's the real insight from value investing anyway. I would suggest trying to shorten your time horizon if you're interviewing at more hot-money shops. Catalysts are key, but you still need an understanding of the competitive position of your company, the industry structure, etc.
Value Investing Equity Research (Originally Posted: 05/05/2016)
I am currently a rising senior working at a mutual fund this summer. I have come to the conclusion that I am a value investor, and would love to continue this passion in my career as a research analyst. I have networked with one deep value company for several months already, but I was wondering what are some other big names, focusing specifically on value, that regularly hire ER analysts.
Would love any help or direction in my search.
http://lmgtfy.com/?q=value+investing+firms
But seriously, there are a ton of them out there. Some of the more well-known ones are Brandes, Dodge & Cox, Barrow Hanley, Royce, Third Ave, Hotchkis Wiley, FPA, Harris Associates / Oakmark. Only a few of them hire undergrads though.
Molestiae quasi qui ratione corrupti nobis veritatis. Quae aut excepturi et qui nihil ut aperiam. Consequatur sint beatae vero accusantium necessitatibus laboriosam. Enim ipsa nihil sint error.
Omnis vero enim laudantium exercitationem inventore ut. Debitis praesentium et et repellendus voluptatem aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...