What are the best independent research shops?

Hey Guys,

i was wondering what you guys thought were the best independent research shops? i know that bernstein and isi have great reputations. jeff degraaf, former of isi just started his own shop called RenMac and fromer Strategist Jason Trennert runs Strategas. There are also the cleveland shops such as north coast, cleveland research, long bow. Also, wolfe trahan has a good reputation with their Strategist as well.

any insight would be appreciated.

23 Comments
 

You are forgetting probably the best one: Zellman and Associates. They are also located in Cleveland but they have Ivy Zellman who is considered the best homebuilding analyst on the street.

 
Bruce Buffmanwhy does cleveland have such a good presence? seems odd to me! any other places?

are their any independent equity research shops in boston?

They are all spinoffs of Midwest Research, which was bought out by FTN.

 

The ones you mentioned in your first post are great. Also, Telsey Advisory Group, Green Street Advisors for REITS, Pacific Crest, Amherst Securities for rates/MBS, Miller Tabak (especially in FI), and a bunch of others I know I'm missing but can't think of off the top of my head.

 

Best independent shops in Europe are Redburn Partners, Bernstein, Exane and Arete (Tech research).

A lot of depends on the quality of the analysts at the independent houses to make a name for themselves given they don't have the bulge bracket sales and trading platforms to generate comm through.

 

Is it possible to break in to independent research places after UG?

"When I was young I thought that money was the most important thing in life; now that I am old I know that it is." - Oscar Wilde "Seriously, psychology is for those with two x chromosomes." - RagnarDanneskjold
 

Would also love to hear people's thoughts, especially if you are currently working at a small shop. What's pay / culture / exit opps like?

Is NYC significantly different than non-NYC? Same for comp. Does it matter if your team is II ranked or not? Does your sector matter?

 

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