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Anyone has a P&C insurance company model that you can share?
All, As per the title of the post, I'd be grateful if someone has a P&C insurance company valuation model that can be shared. All I need is just the structure so feel free to wipe out all the numbers if that's the problem. Thanks in advance.
Evercore ISI vs BAML ER vs JPM ER
Hi everyone, I got offers for 2021SA from these three firms. I was just hoping for any info on reputation/culture/compensation FT and which one would you recommend me to take and why? Also, how hard is it to exit to HF/AM from a top ER firm? What's the pay progression in associates? All positions in...
Equity research or Credit research?
I just received an offer from two different desks for equity and credit research. Any insight on which one might be more interesting or pros and cons of each of them? Thank you very much!
Job Opportunities
I'm currently working at a small systematic fund in the Baltimore area as a data analyst. My boss told me that by the emd of next year I should move on to a bigger firm because with the level of experience I do/will have there isn't an opportunity for me to progress here. I'm trying to identify job...
Should I contact the team directly? [Interview help needed!]
Hi all, I'm in the process of interviewing for an associate role in a sell side boutique. Currently I've passed stock pitch stage and been told the next stage will be a case study/lunch. It's been over 3 weeks and recruiter said he has not heard back re either dates or more info. I really wanted...
Military to Finance - Transition Advice During a Pandemic
I did the damn thing (see my intro post from ~ 6 years ago) and transition time is coming. My military experience has been extremely rewarding and I even got a short combat deployment in. Currently trying to set myself up to make an unaided (no recruiting firm) transition into finance before...
equity analysis- excel
Would anybody be so kind and share their Excel forecast for equity research with me. I won't copy it or publish it anywhere, I'm just trying to learn by myself how to do this and I got stuck and I think maybe it will help if I see some examples.
ER Team/Analyst ranking regardless of overall bank ranking
What the best equity research teams are for all the main industries? Bank ranking doesn't matter(BB/EB/MM), only team/analyst ranking does. Please add the Industry/Bank/Team/Rank and anything else is much appreciated.
ER interview prep for REITs
Hey, I have a model and writing test on Thursday for an ER associate role in the REITs sector. Given it is three hours, should I expect a valuation style case study or just an update model with the latest news type of case study?
First equity analysis
Which company would you choose for your first equity analysis to avoid businesses which are that too complex or are driven by macro factors that are difficult to forecast?
Top Certifications for Equity Research Analysts
Hello I know the CFA is probably the best credential you can have getting a job in Equity Research, but would like to know if anyone would share certifications that have the highest ROI. I am currently a grad student trying to break into Equity Research and want to increase my marketability and be...
Is Bernstein the best in ER?
Most of the threads on this are several years old. https://www.wallstreetoasis.com/forums/sanford-be… https://www.wallstreetoasis.com/forums/sanford-be… With AllianceBernstein moving their official headquarters to Nashville (research is still in NYC) I'm curious as to how their reputation on the...
Is Life in ER Easy?
Hey WSO , New member here. Was looking into ER roles in London and wanted to understand a bit what the lifestyle is like. I've read around and understood that it entails early mornings and 60-70h per weekly normally. Can someone confirm this? I understand it gets busier during earnings season, but...
BB vs. Own Coverage
Hey folks - looking for some opinions. Which path would you see as the better move. Moving to work for an analyst at a well known BB with solid comp or a somewhat unknown but growing boutique but having your own coverage (similarly attractive comp)?
Berenberg ER
Anyone know where they currently stand in the US? Views (positive/negative)? Expanding somewhat quickly and focus more in the smid cap space.
Deleted
Hey guys, I recently just had a Super day for a 2021 ER internship and was wondering what the time frame to hear back from these typically are. This one was last Friday and so I am not sure if I am just not hearing back because of the weekend or because I was not chosen. I feel like the interviews...
Health Insurance Model (UNH)
Does anybody know how to properly value health insurance companies? Trying to build a model for UNH but getting caught up in how different the health insurance income statements are. Any insight would be helpful.
plz halp, What is the industry consensus on Edward Jones
Looking to break into Equity Research. Fresh out of college, no ER experience. What is the general consensus regarding an ER role here? I am a little nervous because of its reputation for financial advisors, however the work I would be doing seems to be relatively the same as what I would be doing...
2nd yr Biotech Equity Research looking for next steps......
I have been doing biotech ER for almost 2 years now at a non-BB...came from a science background... Wondering if it is common or how feasible to jump to healthcare IB as an associate? I just want to do something more exciting while ER (since I don't want to be a stand-alone analyst down the road)...
Institutional Investor All-America Research Team 2019
Hi everyone, Looking to break into equity research. Curious if anyone has access to the full list for II All-America Research Team for 2019?
Where to find ticket and traffic data when analyzing retail companies?
Some equity research reports for retail companies usually discuss ticket growth and traffic growth. However, I've been curious about how those ER analysts got those data? I couldn't find any quantitative data in the companies' 10k or other public filings. Are there any unique ways to calculate...
What constitutes Equity Research?
Hi Everyone, What constitutes equity research? My brother would like to start doing some company research on startups. He had some friends / acquaintances who wanted to learn more about current startups and which ones are good to invest on. And he thought it's a good opportunity. And I wanted to...
Corporate Finance to Equity Research?
Hey all, So I completed an internship in corp fin this summer for a large asset manager (think Fido, State Street, Vanguard) and will be working in a corp fin related role again next summer. On a personal level, I don't mind the work I have been doing, however I don't see myself working in corp fin...
Industrial-Strength Investment Training
What books/accessible materials do major firms point newbies to to learn the investment appraisal (both in terms of stocks and macro trends)? Obviously a lot is learned from shadowing/on the job stuff, but it would be interesting to hear what professional courses/books are backed by institutions.
Corp Finance to Asset Management/Equity Research? Advice?
Hi guys! It has been a while since I've lasted posted on this forum. Right now I just completed an internship in corp fin for a large asset manager (think Fido, State Street, Vanguard, Blackrock, etc) and will be working in corp fin again next summer. Personally, I enjoy the work but I don't see...
Upcoming MM ER Phone Interview for Associate Position - Consumer/Retail
Hey, I have a phone interview this week at a MM for an ER associate position. The call is with an MD/Senior Analyst and wanted to know if there is anything you'd recommend prepping for specifically, or if anyone is in ER or consumer/retail and have any anecdotal advice or have noticed anything...
Asset Servicing or Business Strategy
Hey Everyone- I am currently stuck in this situation. I interned at a large custody bank this past summer in their Asset Servicing group and have just received a return offer. It is a client coverage group and the career path would lead to Relationship Manager. While exciting, I am currently in talk...
Canadian PhD (Medicine) w/ biotech & finance experience aspiring to work on Wall Street
Hi Everyone, I am a PhD student doing clinical research in the field of medicine at a Canadian university. I have had a strong interest in finance, largely derived from trading experience and research over the years. I have built a fairly solid CV and will continue to do so until the end of my...
Does anyone have any insight into the Morgan Stanley Equity Research Junior Associate Program?
The opportunity seems like a great way to break into ER , seems open to recent and expected graduates with a Jan 2020 start date. Does anybody know anyone who has applied? Know what they are looking for in applicants? Size of applicant pool? Interview process details? Anyone already apply and hear...
Keep Dream-Chasing or Network Out of BO? Goal is ER.
I'm a recent finance graduate from a "non-target" with a 4.0 GPA. I've had a WM internship at a BB in NYC and also worked part time at my school's endowment fund doing ER for the portfolio. I was the only person at the WM internship to get a return offer, which I turned down because I knew I wanted...
JP Morgan Summer Associate 2020 - Equity Research
Hey guys, wondering if anyone on here has gone through the application process for the summer associate program for JPM? I applied for a position in NYC . Did the pymetrics last week and got my HireVue like a day or later, which I just completed a few hours ago. It was my first time ever doing a...
Options For Experienced/Older Professional/Private Investor
Hi. Thanks in advance for any comments:) I have seen at least 2 postings about "experienced" professionals (55ish) who were looking to transition to equity research and had great backgrounds (e.g. law, private equity, retired serial entrepreneurs etc.) and the consensus comments were: very difficult...
Flexibility of Valuation Methods in ER?
I skimmed an ER report from Bank of America today on Beyond Meat (BYND) and I saw that, whatever the assumptions regarding revenue, etc., in order to get a price target marginally above the (then) current market price, the analyst used a terminal growth of 5%, which would be a bit on the high side...
Where to find Associate/Analyst ER Notes?
Before I continue, am I right in assuming that a full-on release is different than a note created by an Associate and edited by the (sr) Analyst? If so, where can I find a sample note to read over and learn the syntax that goes into these industry notes?
Stock Pitch and Note Templates?
Hello, Does anybody have a template for a 2-4 minute stock pitch? I have been putting pitches together all week but they keep going 5+ minutes. At this point, I think I should adhere strictly to a template and work my story in as I go. Also, does anyone have a personal ER note that they have worked...
Two Weeks To Prepare For ER (Associate) Interview
Hi All, In two weeks I will be interviewing in NYC for an ER BB position. I'm overly-stressed out and naturally a very task oriented person, so I'm trying to spend all of tonight planning out a "study" plan for these next two weeks. Other than the obvious interview questions and interpersonal skill...
Moving from academia to the real world
I am currently enrolled at a non-target school in the southeast as a master of science in finance candidate. Through undergrad, and even now, my work ethic has been impeccable. I have earned several merit based scholarships for both finance and real estate. I completed undergraduate majors in both,...
Breaking into ER during Off-Cycle
I've been trying to break into ER for the past 2 months following graduation from a target with one summer of IB experience at a small no-name boutique, and several other things on the resume that should convey my interest in the markets (numerous investment books read, investment club activities,...
Valuing a stock for a stock pitch
Hi, I have heard that stock pitches usually come up in equity research summer internship interviews. While I am aware of how to structure the stock pitch itself, I am struggling with how to spot when a stock is undervalued and what methods to use (how does the P/E ration help, etc) - this applies to...
Best middle market ER shops
Hi guys, I haven't found a thread about middle market Er reputations posted within the past 5ish years, so I'd appreciate some updated thoughts. Some background: I'm looking to enter the industry as a summer associate, and I've gotten offers/made strong inroads at a bunch of MM firms. I'm...
What is your favorite, non-obvious, Bloomberg function?
Bloomberg has some insane capabilities, not all of which are widely known. Maybe that's just because I'm new into my buy-side role (Fixed Income). My favorite function: "SPLC" ...shows you a company's entire supply chain (vendors / customers / recommended comps), organized by % of revenue, COGS,...
Internal Transfer to Research
I'm a long time reader of WSO but this is my first post so please bear with me. For context- In may, I graduated from a target school (Harvard/Princeton/Wharton) with a 3.8 + GPA and a return offer to the S&T division of the BB bank where I was a Summer Analyst last summer. I begin full time this...
Equity Research SA 2020 Thread
Wanted to create a thread for ER recruiting. If you guys could send updates on apps and interviews that would help everyone. From what I know: -Citi is done -Baird is almost done I know there are also a couple of apps open: -MS -Lazard -CS
Equity Research... Need a better culture, what's next?
What's up WSO , I am currently an Equity Research Associate (~1 year of exp.) covering TMT and prior I worked in a different finance role (think FP&A, Valuations, Credit Ratings). I work at an independent shop (think Wolfe, Bernstein, TAG) and my team has an aggressive culture of which I am not a...
Is it pesky to email ER contacts when they're quoted in a major newspaper? Or is it an appropriate touchpoint?
An equity research contact of mine was quoted in a major paper, think NYT/WSJ/WaPo (tho just in the online edition). Is it appropriate to send him a quick email note referencing it? I know aspiring IBDs send their contacts congratulatory emails when they have a major deal close, and I figured that...
How much does the sector you cover matter for exit opps/B-School?
If you are covering something like Utilities or Paper or Building Products, how will this be viewed if you end up wanting to make the jump to HF or B-School? Does it really matter as long as you are with a well ranked team? I know for certain sectors like Biotech and Oil & Gas it can be too...
How to create an equity research report template?
Hi everyone, I'm a sophomore who wants to get into equity research for my junior year summer internship. To prepare and get experience for interviewing I want to start practicing writing equity research reports. The only problem is that I'm not sure where to start from the formatting side of things....
Equity Research sell side: how do you think the buyside should do better to interact with you?
going to be starting in equity research at a mutual fund. i'll be be covering companies and so wanted to ask the wso community (specifically those working on the sell side) what are the characteristics of buyside analysts that you like to work the most with? what is your ideal relationship with...
Are my "Qualifications" Likely to get me an interview for Career Change to ER?
While I have always enjoyed researching the markets and have been a professional researcher for a while now (albeit in a different industry), I have been thinking for a long time about taking the leap and changing careers to Equity Research. I am finally mentally ready to go this route, but my...
Two-hour modeling test coming up - looking for help
Hi everyone, I have an upcoming two hour modeling/writing test for an ER associate role at bank. I have been mostly preparing for it using the guides available online (BIWS and the youtube videos on financial modeling), but was wondering if anyone could offer some help with the resources. I did some...
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