I want to learn as much as possible about ER
Hey folks,
Currently getting ready to enter the whole recruiting process bullshit and honestly I feel somewhat unprepared. I have a passion for investing and the markets, but I just feel like I don't know enough.
Any and all insight on what to watch, read, do, or digest (Adderall is already prescribed, think bigger) to help me really dial down my markets knowledge and make a good impression on my networking calls and interviews would be great.
To crush your preparation for Equity Research (ER) and build a solid foundation, here's a roadmap based on the most helpful WSO content:
1. Build a Strong Knowledge Base
Books to Read:
Publications:
2. Podcasts and Videos
Podcasts:
YouTube Channels:
3. Master Technical Skills
Financial Modeling:
Valuation Techniques:
4. Networking and Communication
Networking:
Mock Interviews:
5. Stay Curious and Ask Questions
6. Build a Stock Pitch
7. Additional Resources
By following this roadmap, you’ll not only deepen your market knowledge but also position yourself as a strong candidate during networking calls and interviews. Good luck, and remember, preparation is your secret weapon!
Sources: Helpful Resources For Breaking Into Equity Research, You don't know anything— 5 things to do about it, How to improve your knowledge of markets?, I Want To Get Into Investing. How To Improve Your Knowledge Of Markets?, Q&A: 25 years Sales / Trading Experience
Bad question do better
Ping me
I spent 15 years on the buy-side, and was the PM on a 5-Star Morningstar rated fund.
You're asking what to read. Wrong question. But I hear this all the time, so let me give you something more useful.
Reading more won't separate you. Everyone has read Buffett, Greenblatt, Lynch, Klarman. Table stakes.
What separates candidates is whether you can form a view the market doesn't have—and defend it.
Most pitches I hear sound like this: "Good company, strong management, trades at 12X." That's not a pitch. That's a book report.
I once passed on a candidate from a target school because his pitch was a perfect 25-page deck with every ratio, KPI, and valuation metric you could imagine. Asked him what could break the thesis and he froze. Meanwhile I moved forward with a student from a no-name school who had a 2-page pitch on an auto parts supplier and could argue both sides for an hour. He'd visited dealerships and talked to mechanics. That's the difference.
The 10-K and earnings calls are just the starting point. The edge comes from primary research: talking to customers, competitors, former employees, suppliers. Understanding the industry from the inside, not just the filings. Knowing what question to ask that the market hasn't figured out yet.
PMs want to know: why is the market wrong, what changes and when, and what breaks your thesis. If you can't answer those without hesitation, you're not ready.
Pick one company. Go deeper than anyone else. Then pitch it like your money is on the line—because that's how it'll feel sitting across from a PM.
does the CFA L1 help about learning the fundamentals for someone who does not have any prior experience or knowledge ? Thank you
Ping me
I’m on the same page - can I ping you for info as well?
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