morning calls
1. What sources of information are used to make morning calls/reports/updates/briefs (whatever you prefer to call it)?
2. Additionally is it finalized in a meeting or sent individually by analysts to the sales dept?
3. If there are meetings are the members of the sales dept part of it?
Morning research meeting during my summer stint was held in a conference room with the presenting analysts, sales desks, whoever else wanted to attend. Also broadcast over net/tv.
and the sources of information?
It's the senior research analyst who covers the name.
I think there might be some confusion as to what role morning calls play in equity research.
Morning calls are for senior analysts to more effectively spread out a message to clients. Think of it as a microphone for a senior analyst. The senior analyst goes on, communicates their thesis to salespeople (which is usually coming from a research report that they just published), and then sales goes and spreads a short and sweet version of that idea to their clients that they think might be interested.
The "source" is usually a research note, which was written by the senior analyst.
the source for the research note?
Surely - depends on the research note (e.g. company-specific note, industry-wide note, commodity-specific note if you're with a natural resources team etc.).
So to answer the question: Conference Calls Company Financials Company Presentations Information gathered from independent industry experts Information gathered from the company's clients/suppliers etc. BB sector-specific information or sector-specific/generic external data providers like Wood Mackenzie etc.
And so forth. So yeah - everything and anything if that's your question.
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