Learning Equity Research
Hey all, I’m a recent graduate from a semi-target with a master’s in economics.
I’m looking to break into ER but the problem is that I have very little experience with financial modeling.
I’m a quick learner and super motivated so I was hoping to find some materials to learn how to write a research report and perform valuations.
I found a full MBA course from NYU on YouTube that seems pretty good but I’d appreciate any suggestions on books,examples,etc.
jmcg11, sorry there are no responses yet. Maybe one of these topics can point you in the right direction:
More suggestions...
If those topics were completely useless, don't blame me, blame my programmers...
Is it Aswath's
Yeah it is, is he any good? I’ve been reading his textbooks and they are pretty straightforward/easy to follow
He is the best in the business, he's called the 'Dean of Valuation' for a reason. You can't go wrong with him since he's literally one of the leading authorities in valuation. I've 'enrolled' in his 2023 Spring MBA too but sadly didn't finish them all.
I've found that more people recommend McKinsey's Valuation textbook over Aswath's, if that helps at all. The reason for that is (and I agree too) is that McKinsey's is more objective, academic and unbiased, while Aswath's books tend to be more subjective and focused on how HE thinks is the correct way to value companies
Glad to hear I haven’t been wasting my time. Yeah Aswath is definitely a little biased but he doesn’t try hard to hide it so it’s easy to see when he diverges from the norm. Will definitely have to check out McKinsey’s book, too thanks for the rec!
You made a good point there. The fact that he doesn't try to hide his own biases makes it easy for the reader to decide for themselves
Grab a copy of Best Practices for Equity Research Analysts. Great book to read when just starting out in SS or buyside
Thanks for your suggestion, definitely will check it out
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