Need Equity Research Report Sample
Hey all,
I was talking to a equity researcher sell side( C.L King and Associate) . He suggested that the best way to impress ER analyst is to build a pitchbook/ Equity research report and present it along with cover letter.
I would appreciate if if somebody could share any sample report and suggest some industries/companies that I should follow and build the report for.
Thanks in advance.
You can usually download free equity research reports from Credit Suisse if you make an account on TDAmeritrade (which is free to register). Works for me.
Do NOT bring along your "research report" to an interview. You'll get yourself screwed over - Limited upside, extremely high downside (overeager, report getting ripped apart etc.) Best way to impress your interviewer? Find out more about his sector and try to provide differentiated views/info.
just google it.. you should be able to find em ... as for the downsides mentioned by astfin-juki it is unlikely that anyone will grill you for your making a report or a paper portfolio or preparing a stock pitch because everyone knows there is no way you can do this stuff better than a professional.. they will ask about your analysis as in the reasons behind it, to see "why" you have come to the conclusions you have ... the worst result will be that they will not even pay any attention to your reports ... if they do grill you or put you on the spot it will be to test your nerves to see how you handle criticism, angry bosses, angry clients and pressure in general ... just don't let your brain go dead with a heavy feeling on the front/top part of your brain,that is the cortisol and other stress hormones taking over (too much of them and the brain slows down), sleep well, hydrate and take optimal amounts of caffeine ... caffeine consumption without sufficient water will slow the brain down since caffeine dehydrates the body and also do Not eat too many sugary foods either, leads to pretty bad crashes within 10 to 20 minutes ... also try BIWS you should be set for interviews and making models, reports, etc
Sample Professional Equity Research Report (Originally Posted: 08/06/2013)
So I wanted to look through an equity research report just to see what kind of things I might be asked about in an ER interview or something I can use as a model to try to make one myself.
P.S. I was not a finance undergrad so I am not very heavily experienced in this. When I asked people about this, some told me to focus on financial modelling whereas others told me to do things like Porter's five force analysis and technical analysis.
I am not really sure which direction is the 'right' one so I appreciate any help.
I'm willing to share a research sample with you. Send me a private message with your email address. As for what sectors/companies to cover, what do you know best? Research what you understand!
modeling is definitely more important than technicals. I think a lot of people will roll their eyes at a formal porter's breakdown but it is definitely a useful way to think about things.
Modeling and standard technicals you should know. Doesn't make sense to know technical analysis. If you end up talking about a company or pitching something, definitely know the ins and outs. (This is probably why someone mentioned Porter's.)
Equity Research Writing Sample - Seeking Reviewers (Originally Posted: 08/12/2014)
Monkeys, I'm looking for some reviewers to give me opinions on a short, one-page writing sample. Let me know if you can help out, much appreciated if you can.
Thanks in advance!
send it over
Thanks, again! +1
Hi the brofessor. Do you mind to send me a copy as well? i am hving this coming ER modelling test with a BB this Friday. I ll appreciate if anyone can help~
I'll take a look
I will take look as well
send it over - happy to review
me too
Send it over, happy to look
Please send would love to take a look.
Send it , happy to look
Seeking a sample equity research (SHORT) (Originally Posted: 03/18/2015)
Anyone here have access to Raymond James, Citi,GS, TD Securities, Needham,Cowen, DB, FBR Capital, RBC, Oppenheimer, Cormark Securities, CIBC or MS?
I am looking for a specific firm that is trying to do a turnaround and want to see why its being rated as a short by some.Would really love to have any kind of insight and help.
Thanks
what firm?
good format for a ER writing sample? (Originally Posted: 11/15/2012)
Hi guys,
I am trying to type up a 1 pager on a stock for a ER position. I have zero background in this area and any advice would be highly appreciated. What's a good format to use as a guideline? Any particular way to distinguish myself?
I would somewhat copy the format of the research from the firm you are applying to
where you interviewing at kid?
I'm not in the interviewing stage yet, I'm just planning to apply and put my best foot forward even though my background is not related to ER at all. It's at a reputable MM bank.
What are you going to do, send in your stock pitch with your cover letter? I'd do some research and a few good verbal pitches going first. Check Gillian Elcock's "How to get an Equity Research Analyst Job", she basically takes you through it step by step. Once you have the basic outline/structure of a stock pitch down, then you can worry about things like formatting and prettifying.
Even though all responses make sense I'm at a similar spot (I guess) with "spacecowboy"... I am from a totally different field trying to break into the field. And I also want to "practice" doing the analysis, and I think following a format would help that. That's why if there is a good/preferred format (or even one you guys would think the best to gain experience with), I also would appreciate any recommendation...
Need a sample Equity Research Model (Originally Posted: 01/30/2016)
Dearest Ppl,
It would be great if somebody can share a sample equity research model. Since, I am interviewing for a ER position, I need to work on a detailed model. If anyone can share one with me it would be great.
Thanks a ton!!!
don't think you'd need to but they aren't any different from other valuation methods. same stuff - except more time to go into the accounting that's it.
ER Work Sample - Quick question regarding emailing (Originally Posted: 07/05/2012)
Hey Fellas,
Just had a quick question regarding emailing ER Work sample to the hiring manager.
So I was wondering, whether it would be appropriate to email a a different industry work sample (e.g. Retail) for a ER position with coverage on (e.g. Industrials, Oil & Gas Equipment).
I am confused because if I send the Senior Analyst a report on his coverage space, he is going to kill me with questions, and I am going to look like a complete douche, as my industry knowledge of his space, would be a lot less.
Some thoughts would do wonder for me.
Cheers Brah.
Send him an initiation report on Quiksilver.
Later brah,
Bro...my question was more like should I send the hiring manager...a report in his industry? And risk getting slayed???
You're a shit head
Trending stocks for this week $SNMX DSKX $ARCO $EVDY
Research Sample (Initial Coverage) (Originally Posted: 01/24/2013)
Just finished putting it together after couple days of typesetting work. Please, critiques are welcome :)
I will leave the content comments to others but every ER report on my desk has its text justified - yours will look a lot neater that way as well.
Good content... make it as concise and to the point as possible. Every sentence should mean something; if the report would survive without it, get rid of it.
I've been getting messages from couple fellows asking for a template. Just so you know, not that I didn't want to share it but I really don't have one. For those who are interested in putting their reports together, get the 30 trial version of Adobe InDesign. And once you get it, pm me and I'll walk you through all the basics that you'll need to know. Building from scratch doesn't seem as hard as it looks, and you'll master it within couple .practices
I'll just leave the sample up. lol some mad dude threw a monkey shit at me because I took it down.
*Updates: Fixed some typos, added "Appendix 4: Smartphones Comparison" to demonstrate the homogenous features and close substitutions among the most popular smartphones in nowadays.
what does the debt ceiling have to do with RIMM? I mean i know it will impact the market as a whole but it just doesn't seem to be right as the first argument to go with.
Love the layout
page 7 RIMM holds about % of the mkt, there is no number there
I don't know if you can call it an anticipatory default if the firm has over $2bn sitting in the bank. From my experience, you can't put external risks as the forefront of your equity model.
Fundamentally you are pricing a company, of course if Iran nukes the US there may be headwinds but this is not important. Granted the debt ceiling is more likely than nuclear war but you cannot lead with this.
I know that it can hurt to cut well written prose but in this case, the person will pick up this piece of research (from 20 other analysts research) begin reading and bin the paper as soon as he realises you are throwing darts everywhere.
I don't want to be properly negative as the product looks good but you have to get to the point, start with the market and drill down to the company then as a side note, the debt ceiling is a risk factor
Picture of Thornstein Heins: "Source: Internet" No idea if there's anythign wrong with that, I just thought it was amusing. Very nicely laid out report.
Don't think an actual bank would ever cite that way, lol, but minor.
Sample Model for ER Written Test (Originally Posted: 07/20/2011)
I have an interview at BB in a few weeks for an ER research associate position. They mentioned it would include a written test where they provide you with a Press Release and you're supposed to build a model that would incorporate that effect. Does anyone have a sample excel model I can use to study? Thanks!
Emergency bump! would anyone be able to send me something like this for my interview?
Hi avo427, did you manage to get anything in the written test? Appreciate any insights on the report and excel.
Prospective Student-Equity Research Reports (Originally Posted: 03/22/2016)
I understand there are a bunch of threads about equity research reports but a lot of them are outdated and haven't responded. Would anyone be able to provide research reports? I'd be able to PM anyone who has a copy. I'm a sophomore at a non-target looking to break into Equity Research and wanted a feel of the writing that needs to be done as part of the job.
Thanks Guys!
http://www.wallstreetoasis.com/forums/doing-a-stock-pitch --- for ER
buy a modelling program right now if you really want to learn ER work (modelling, analysis, channel checks, etc)
if you want the feel of a report the old reports over here will do, some sell side firms keep old reports as samples those will do as well, google it you should find some
Equity Research Report formats? (Originally Posted: 01/13/2010)
I want to put together a well-written, comprehensive ER report to submit to analysts in the hopes of an Associate role. I'm pretty down with the modelling piece but have no idea what format the written report usually takes... Is there a preferred format? Examples on Google don't look too promising. how about length? Are there guidelines on scope? I'm thinking you could write a 200 page report or a ten page report. thanks for any input
10 pages is fine, 200 is a big no-no.
Have you been asked for work samples, or are you using these to cold-call/cold-email or send to contacts?
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