How helpful is a quant background for equity research?
I've noticed that sellside research (particularly at BBs) has invested a ton of resources into advanced statistical analysis, machine learning, high performance computing, automation, and other quanty stuff. However, based on the reports I've read, it seems like the application of these quant techniques is mostly limited to the macro & strategy research groups. I rarely see rigorous statistical/computer analysis in reports from equity research analysts. And when I do, it's usually produced outside of the traditional equity research division (for instance, UBS has a separate "evidence lab" of data scientists).
Is my outside perspective accurate? Will quant research become more integrated with equity research in the future? Do you guys think a background in statistics, programming, and/or math would be helpful if I'd like to be an equity research associate? Or would I be better off loading up on more finance classes?
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