Jr Equity Analyst Internship
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Junior Research Analyst-Internship
Founded in 2003, our firm provides independent equity research and consulting services to buyside institutions (asset management and hedge funds) where incremental research meaningfully enhances performance. We utilize a bottom-up, fundamental analysis skill-set to provide funds with research on a wide range of stocks in disparate industries.
Opportunity: To work directly with a well recognized, highly experienced stock analyst providing equity research on publicly-traded companies to buyside entities (hedge funds and asset managers). Stock coverage is eclectic, as I operate as a “generalist” predominantly covering stocks at the direction of clients. Additionally, you’ll also aid in (my) personal portfolio management. We are located in Class A space in midtown Manhattan. The firm is a one-man (me) shop supported by one or two business-educated interns dedicated to providing critical support and advancing their skills. This is not a “go-for” position, but, in fact, one where you will be constantly challenged and heavily relied upon. And, candidly, I’m demanding.
Please note, we've also recently expanded to provide Financial Investor Relations to small publicly-traded companies. I'm joined in this venture by a formerly highly successful hedge fund manager.
Qualifications: Strong PC skill proficiency (Excel spreadsheets and Word). Willingness to aggressively take initiative. Great attitude and work ethic. Highly responsible. Interest and cursory knowledge of stock market and select stocks. Understanding/fluency (immediate knowledge of the key line items!) of financial statements, including: Income Statements, Balance Sheets and Cash Flow. I expect that you are a regular WSJ reader and cable business station viewer and, accordingly, have knowledge of where U.S. GDP has run in the past and future expectations, past and current U.S. market levels (of the major indices), historical and current p/e ratios, an understanding and ability to calculate market caps (and preferably enterprise values). Strong written and communication skills (English!). Organizational skills are also critical.
Responsibilities: We start with a daily review of the morning WSJ and, over the weekend, Barron’s (I’d recommend the hard copy of these publications; both are subscriptions websites). Please carefully review these publications prior to any call or interview and, as well, be prepared to discuss the major news stories (including key economic statistics reported/expected), as well as financial statements. Equity Research is 80%+ of the job. Search out and review info on publicly-traded companies. Analyze financial statements, presentations and conference calls. Build financial models (limited), track key release and meeting dates, follow stock price movements, report formatting, as well as charts and graphs, maintain extensive and thorough notes, interface with company management. Limited light admin (filing, copying, etc.). Extensive and frequent reporting directly to myself (face-to-face and, often, if possible, through smart phone). Business admin (including light IT, backing up of my pc and smart phone) represents another 5-10% and aiding with reconciling of my trades and/or other personal small admin is another 5%.
Availability: 3-5 FULL days/week (preferably full-time); Start Date: Immediate! Please indicate your exact availability during the week as to when you can be in the midtown Manhattan office and a start and/or theoretical end date.
Pay: $200/week (pro-rata based on near full time)
Position Term: Open-ended. I’d prefer at least a 3-month (and preferably longer) commitment.
Hours: 8:30-9 to 5:30 or 6. We don’t punch a clock, however, when there are projects we need to finish, I expect you’ll look to come in early and/or stay late (without my asking!). Earnings season (once every 3 months) is particularly demanding!
Attire: Blue jeans usually and business casual otherwise; this goes for any face-to-face interview! Yes, it’s fine to wear blue jeans for the interview as well. Impress me with your knowledge, aggressiveness and willingness to take initiative, not your wardrobe.
• Resume AND cover letter
• An INFORMAL cover email providing a window into your written communication skills and discussing your knowledge of (and interest in) the U.S. stock market and the economy. Share your views of the U.S. or world markets or domestic or global economies. This can be as little as one paragraph.
• Indicate your exact availability during the week as to when you can be in our midtown Manhattan office, as well as a start and/or theoretical end date.
• Indicate whether you carry a “smart phone” that has automatic or near automatic downloading of emails.
• Writing samples (from any class, though preferably business/economic) that demonstrate strong written communication skills.
• Note: If you are not “informed,” i.e. do not read the WSJ regularly and/or follow the business news (as discussed above), please do NOT apply. I expect that Barron’s is something you have or will very much enjoy reading; if this is not the case, the position and I’d suggest the industry is not something you should pursue. Also, as noted, I expect that you will be FLUENT in your knowledge of the key “line items” that appear on the 3 financial statements (I/S, B/S, C/F). Please note again that the pay rate is nominal and more like a stipend. I’ll do my best to field any and all questions at all times to try to make this as much as possible a learning experience.
• And, feel free to follow up even if you don’t hear back. Aggressiveness is good to garner this position and a positive personality trait for fundamental security analysts.
• Grammar counts. Don’t fool yourself, if your grammatical skills are not strong it’s unlikely you’ll be able to master the written skills necessary to conquer and publish with stock market jargon.
We are EOE and tough on everyone!