Welcome to the Wall Street Oasis Reading List for Equity Research. Please email [email protected] if you think we should add in additional publications to our Recommended Reading.

Easy ReadsTechnical ReadsCareer Jump-Start
Wall Street MeatBest PracticesTechnical Interview Guide
ConfessionsSecurity AnalysisBehavioral Interview Guide
The Intelligent InvestorA Look Behind the Wall
Applied Equity AnalysisInternship Guide

Easy Reads

Wall Street Meat : My Narrow Escape from the Stock Market Grinder

by Andy Kessler

If you want to test your interest in the vast world of equity research, this is the book for you. Kessler goes into detail about the ups and downs (most glaringly the downs) of a career as an equity research analyst.

Dennis Littrell (<span class='keyword_link'><a href=//www.wallstreetoasis.com/company/amazon>Amazon</a></span> Review):

Bottom line: unless you are Jack Grubman, Frank Quattrone, Henry Blodget and some of the other pieces of Wall Street Meat that Kessler writes about who went down with the ship, you will find this an amusing book, a nice diversion from a long, long time ago on which to reflect. Kessler knows all the buzz words; he knows the players and (somewhat inadvertently) he lets us know him.

Adam Lashinsky (Fortune magazine):

A scathing critique of everything wrong with Wall Street ... and what's wrong with a few of the critics as well."

Buy Now

Return to Top

Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

by Daniel Reingold and Jennifer Reingold

Confessions is similar to Kessler's Wall Street Meat in that the author had a negative view of his time on Wall Street. However, the author does note that there have been improvements in the system, though there are still some loopholes that need to be fixed. Reingold also gives the reader a good look at what made him successful on Wall Street, which will be valuable to many in getting their careers going.

Library Journal:

It's a terrific memoir. This honest and irreverent behind-the-scenes account of life on Wall Street is highly recommended.

Alan <span class='keyword_link'><a href=//www.wallstreetoasis.com/company/jpmorgan-chase>Chase</a></span> (<span class='keyword_link'><a href=//www.wallstreetoasis.com/company/amazon>Amazon</a></span> Review):

In the first 300 pages, Reingold does an excellent job of walking the reader through the development of his role as an award-winning analyst, first within the fledgling MCI, and then on Wall Street with Morgan Stanley and finally with Credit Suisse First Boston. Reingold's long-time rival and nemesis, analyst Jack Grubman of Salomon Smith Barney, serves as the perfect foil for exposing the abuses and excesses of an industry that continued to blur the line between the analyst side of the house and the investment banking side. The SEC emerges as an 'unindicted co-conspirator' for its years of inaction and complacency in turning a blind eye to escalating levels of abuse.

Buy Now

Return to Top

Technical Reads

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

by James J. Valentine

This book is one of the first to offer a glimpse into life as a buy-side or sell-side research analyst. This is not a book for someone completely new to finance, but if you have taken some college-level coursework this will build upon that, giving you a practical method to approaching life as a research analyst.

Juan-Luis Perez (Global Director of Research, <span class='keyword_link'><a href=//www.wallstreetoasis.com/company/morgan-stanley>Morgan Stanley</a></span>):

Jim's book is an excellent window into the world of securities research. Very few works cover the complete life cycle of an analyst and the necessary balance between theory and practice. This is one of them.

David Merkel (SeekingAlpha):

My friend Tom Brakke, liked this book and said I would too. He was right, and soon afterward, I heard the author speak at the Baltimore CFA Society. Hearing James Valentine speak is an advantage here. He summarized what is most important, which if you are reading the book, it would be chapter 20 (out of 27). It is his FaVeS framework: Forecast, Valuation, and Sentiment, in that order of importance. Remember that as a key to the book if you read it; it tells you what to focus on as an analyst.

Buy Now

Return to Top

Security Analysis

by Benjamin Graham and David Dodd

This is the classic book by Warren Buffett's mentor at Columbia, Benjamin Graham, and his colleague David Dodd. While originally written in the1930s, many of the investing principles remain the same or similar.

Buy Now

Return to Top

The Intelligent Investor: The Definitive Book on Value Investing

by Benjamin Graham and Jason Zweig

Warren Buffett says that this book is "by far the best book on investing ever written." It is a must-read for equity research analysts.

Buy Now

Return to Top

Applied Equity Analysis: Stock Valuation Techniques for Wall Street Professionals

by James English

This textbook/practical guide offers everything from a to z on analyzing equities. Be careful, though, those with no finance background may find this tough and those with a lot of experience may find it slow. One reviewer notes that this is mostly helpful for sell-side research associates.

<span class='keyword_link'><a href=//www.wallstreetoasis.com/company/amazon>Amazon</a></span> Reviewer:

'Applied Equity Analysis' is a how-to manual on evaluating stocks based on his 20 years of experience at JP Morgan. The book is very well-written and readable since the author employs plain english (no pun intended) to make his three major points: 1) accounting numbers--while by no means perfect--are excellent tools in evaluating stocks, 2) accounting-based stock valuation is superior to (but does not neccessarily supplant) cash flows, and 3) competition ensures that eye-popping financial performance doesn't last forever.

DJ (<span class='keyword_link'><a href=//www.wallstreetoasis.com/company/amazon>Amazon</a></span> Review):

There are reams and reams of investment valuation books on the market -- that is obvious. In my opinion, the three no one should be without are Applied Equity Analysis, Stephen Penman's monster tome "Financial Statements and...", and lastly, Aswath Damadoran's book, "investment valuation." Most hyperventilating MBAs default to Damadoran; I really enjoy the simplicity behind Applied Equity Analysis. Caution: [none] of the three are what you'd call 'light reading.' If you have any money left, honorable mention goes to Cooke's 'Security Analysis on Wall Street.'

Buy Now

Return to Top

Career Jump-Start

Technical Interview Guide

by Wall Street Oasis

This 80+ page guide, produced by WSO and written for WSO's users, is a compilation of the most common technical questions encountered in Wall Street interviews.

WSO User banker88:

Just got the new technical guide. By far much better than vault. Very detailed (80+ pages) with charts, graphs, etc. I'll be reading this at least once this summer in prepping for fall interviews.

<span class='keyword_link'><a href=//www.wallstreetoasis.com/company/goldman-sachs>Goldman Sachs</a></span> S&amp;T VP:

The new Wall Street Oasis Technical Guide provides questions and easy to understand answers for all the questions I typically ask when interviewing a candidate. The additional questions expand the guide, and the new charts are an added bonus for easily remembering the crucial concepts. If a student really knows all the questions in this guide, they are sure to nail the technical section of their interview.

Buy Now

Return to Top

Behavioral Interview Guide

by Wall Street Oasis

This 56 page guide, produced by WSO and written for WSO's users, is a compilation of over 100+ of the most common behavioral / fit questions encountered in Wall Street interviews with detailed advice and examples.

<span class='keyword_link'><a href=//www.wallstreetoasis.com/company/credit-suisse>Credit Suisse</a></span> M&amp;A Analyst:

All I can say is I wish I had the Wall Street Oasis Behavioral Guide before I went into my banking interviews. I was well prepared for some of the fit questions that came my way, but others challenged me. With the extensive number of questions in this guide and the sample answers, I would have felt prepared to handle almost anything.

MIT Sloan MBA Student ('09):

I didn't read Wall Street Oasis Technical and Behavioral Interview guides until after my first year in my MBA program, and frankly they contained everything I had spent the last year learning to get a job on the Street. I highly recommend them to anyone preparing for an interview, finance or other. It's a heck of a lot cheaper than an MBA (not to mention faster and more to the point).

Buy Now

Return to Top

A Look Behind the Wall - An Overview of Six Wall Street Career Paths

by Wall Street Oasis

WallStreetOasis.com has collaborated with its most knowledgeable users to provide one of the most detailed, entertaining and insightful publications to hit Wall Street in years.

Buy Now

Return to Top

Internship Guide

by Wall Street Oasis

This is a complete guide to getting through your summer internship in finance or consulting. Whether you're wondering what to wear, how to do your work, or how to manage your money, this 30-page guide has it all. Following this guide will make getting through the summer as painless as possible, so that you can have the exciting, rewarding experience you deserve.

Buy Now

Return to Top

Return to Main FAQ Page