Silver BananaTopicReplies
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What is the best way to prepare for the series 86?

nyny100

I took the 86 today...failed by a few questions. I have been using STC's study guide and practice exams. I was averaging 80-85 on the tests. Turns out the real test was really nothing like the STC tests. The real test was basically all conceptual question...I think I had only 5 questions that involv...

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Fitch Ratings Summer Analyst Super Day -- What to expect?

iloveibsosomuch

I will be going to the NYC location. There is going to be a 3 three hour formal interview process, I will be quizzed on excel, and then there is a networking session afterward. I am interested in corporate credit rating. What should I expect? I am a woman from a top 20 public school btw....

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Cliffs CEO trashes analysts

RobberBaron123

https://www.cnbc.com/2018/10/19/ceo-berates-analysts-you-are-a-disasterthey-will-have-to-commit-suicide.html What do you guys think of this? Is that a sign of weakness or is this similar to Trump berating someone and you think "that dude is crazy but whatever?"...

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How do we forecast companies without production/sales data?

fm234125

Hey guys, I hope I'm posting this in the correct forum. I am a fresh analyst in a developing market who's been tasked to model a chemicals and pharmaceuticals company. The issue I have with it is that the company in question has not given any production or sales data for their products nor does the ...

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Help, Model share repurchase with debt

Wayne111

Hello. Can someone help me understand this? Or how would you model this? Assuming cash is 0. If a company repurchases its shares by borrowing debt, the future cash flow should not change, then the enterprise value would not change. Shareholder value/Equity value = enterprise value - debt, since the...

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Thoughts on Gilead?

bulls1997

Gilead's had an interesting year this year. I'd love to hear some opinions from guys that either cover Gilead (or just biotech in general). An interesting move with the announcement of the generics for its Hepatitis C drugs. I thought the acquisition of Juno a few months back was a solid move but th...

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Choosing Between Buy Side vs Sell Side in Equity Research?

MonkeyMogul

So I want to do equity research. I know that there is sell-side and buy-side and, so far, I have a few distinctive arguments for both (see below). What I would really appreciate to find out is your views in terms of the experience quality that both offer. P.S.: Not trying to touch on things such as...

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From Credit Rating Agency to Equity Research - how common?

youngprofitable

I've seen the discussion in other part of the forums, but I wanted to see what people with insight into ER think about the exit opps from CRAs. It's one of the big 3 firms and an analyst position for the financial institutions team. How good are my chances of moving into ER after 1-2 years? Do I h...

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Recommended Reading

recaptcha

Hello monkeys, As I am gearing up to start interviewing for equity research jobs, I am wanting to read some books to have a better understanding of investing and the markets. A little background on me, I am a CPA working in big 4 audit trying to break into ER. I have recently started reading Securi...

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Morgan Stanley Equity Research Junior Associate Program

Analyst30

Anyone else interviewing for the position? the 1st superday was on 10/3, but they have more on 10/10 & 10/17. Would MS wait till the end of all the super days to send out offers, or on a rolling basis?...

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Stock Pitch-Informational Interview

recaptcha

Should I be prepared to pitch a stock in informational interviews? I've had a few so far and have not been asked about a stock pitch, but just wanted to see if anybody has been asked to pitch a stock or had been asked about technicals during informational interviews? Thanks....

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Equity Research Associate Offer- Should I Accept It?

pancho23

Wanted to hear other people's take on this- I received an offer for an associate position in my preferred sector and city with a competitive salary. I am concerned however that if I take the position I will not get the required mentor ship and training as the analyst I would be under was just promot...

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How to find discount rate of company that does not raise debt or equity capital

DiscountedAssFlow

I am doing a DCF for (PetMed Express - PETS) and they don't raise debt or equity capital. It seems their cash to operate comes from their operations itself. What would the discount rate be? Thx...

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International Investor Rankings

icehouse95

Does anybody have the II rankings that were released this morning? ...

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Goldman Sachs GIR SLC

_FinanceGirl_

Hi, I completed my HireVue for Goldman's Global Investment Research (GIR) group in SLC last week. Has anyone heard back about superdays?...

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ER Entry Role

futureREmogul

How do I get an entry level ER job from a non target school as low gpa. I have experience in the real estate industry and am currently working at a small PE firm (raises money by deal). What firms should I look at? Can i break into REIT ER from REPE?...

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Baird ER SA Superday invite

LilChimp98

Anybody hear back from Baird for their ER superday? Had my first round on Monday (non-target state) and I was told that I'd get notified either today or Monday. ...

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Best books or sources to get better at understanding economics?

charlie the unicorn

After a bit over a year on the job, I've identified that I have a very weak grasp of economics. I'm not really interested in reading academic texts and would rather read something that'd help me just understand the relevant bits for someone doing research. I understand the basic concepts but it's di...

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Equity Research Excel Test Advice - examples if possible!

LDN2018Apps

I have a second round interview for an entry level equity research role at a large investment bank next, including an Excel test. If anyone has experience doing excel tests for equity research interviews I would love to hear your advice and know what tasks you needed to complete. If anyone has act...

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Industry "pigeonholing" in ER

NeedSomeHelp

Hey guys, I am a senior undergrad with one equity research internship under my belt (last summer). It was at a small asset manager and I was able to do a lot of research, even generate my own initiating coverage reports on a few companies mostly covering REITs and TMT. Right now, I'm looking at an...

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From Semi-Target to MO to ER. My story

Deter6895

Since this forum was helpful for me eventually making my move into ER, I figured I'd share how I ended up in ER. I had no idea what I wanted to do specifically in school. I didn't put much thought into what career I wanted to do in school and had the mentality that if I got good grades the rest wo...

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How to become a ER analysts

harrisonczx

Just finished my undergrad. Currently working in DCM in HK, main work is execution and credit advisory which prepare presentation materials and financial model for companies wishing to get a rating for their bond. I have passed CFA level 1 and both part of FRM. My goal is become an equity PM or anal...

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Full time ER??

kjmanhattan

Anyone know if there are any positions open at any sell side shops or BBs? Asset Management ER??????...

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What's it like as a first year ER Associate?

red2016

There's a lot of threads of ER in general but some seem dated so I'd like to ask, for those who have graduated with a BA or Masters etc and gone into equity research (any sector): 1. What was it like your first few months to a year on the job? Was the day to day mostly number crunching and sitting ...

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Fixed Income Portfolio Analysis Group interview. Any idea what they could ask?

Ineedtoremember

I have an interview coming up with the portfolio analysis group of a large (>1 trillion aum) FI group. I'm concerned as for technicals I am mostly ready with bond basics (duration, convexity, rates, credit risks) but not sure how to scale up these concepts from a single instrument to an entire portf...

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List of publicly traded companies and their credit ratings

RE Dude

Anyone know where to find a free (or very low cost) list of the current credit rankings for publicly traded companies? I thought one of these sites like FinViz would have this, but guess not. I don't have access to Bloomberg or other financial systems. I'm creating a basic model to do credit rank...

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SS ER NYC-London relocation

attruly

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Written interview question - What do you think about this company as an investment

Not anonymous

Hi fellas, Heard back from a midsize buy side shop about a second round for which I'll have to answer four questions over email. Last one is "what do you think about company XX as an investment?" They attached a sell side ER report for context. Got a week to do this, how detailed of an analysis are...

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Securities Exam Series 7, 63, 86 and 87 recorded lectures, exams and books for sale cheap

markCa

Hi, I'm selling Series 7, 73, 86 and 87 notes, books, online final exams, and access to lectures and lecture handout. This is the same I used to pass all 4 exams easily in one go. Can either post the books or meet in person in NYC to hand over. Willing to sell for cheap. If you are interested, ple...

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Any JPM NY 2019 Summer Markets - Equity Research Analyst?

caffeinefree

Just wondering if anyone is joining JPM NY's equity research next summer? Curious about what people's backgrounds are like, and also what does the lifestyle in ER look like? ...

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JP Morgan AM - Equity Research

nutsaboutWS

Wondering if I could get some color on JPM Equity Research, under Asset Management in the Investment Management arm. Locations/prestige/hours/pay/work/exit ops Thanks...

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Transaction valuation

rsangari

Can a merger transaction be analyzed with the following data: Accounts payable -1,708 Accounts receivable 16,942 Accrued liabilities -9,423 Debt assumed -385 Deferred revenue -1,766 Goodwill 79,639 Intangible assets 41,460 Long-term deferred tax liabilities -14,169 Other assets 53 Other liabilities...

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Software Industry Equity Analysis: Do you add back Def. Rev?

TheRoadLessTaken

I know that due to GAAP accounting, revenues are recognized on the basis of how often the payment is due. The rest is compiled into deferred revenues. Thus, is it reasonable to add back deferred revenues to sales? ...

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Software Primers for Equity Research

TheRoadLessTaken

Are there currently any primers for the software industry atm? I'm familiar w/ several resources such as arkInvest and Meeker trends, but in terms of understand the software, and how the software market is, there aren't much information to anything. I'm open to anything!...

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Equity Research 2019 intern recruiting?

HYPSW

When does recruiting for 2019 internships start in ER? I know that IBDs has already started general recruiting but I haven't seen much for research divisions. Any info is appreciated. ...

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Starting Coverage-Good and Bad Sectors

ironman32

Just wanted to get everyone's idea on what is currently a good or bad sector to initiate coverage. My firm is considering having me cover cannabis. I don't know if that's the right path for me and also don't know if I want to get involved with working for a cannabis company down the road. I have ...

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What can I do 2 yrs before graduating PhD Life Sciences in non-target school to be a competitive ER applicant

PhD to ER

I am doing my PhD in Pharmaceutical Sciences/Toxicology in a non-target school in New York City. I am in line to have a solid publication record come graduation and have presented at several internationally recognized conferences. What are some things I can do (besides networking) that will help m...

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Which capex I should use? (one in cash flow; one in ppe schedule)

iversonhu

Hi guys, I'm always confused of which capex I should use for FCF calculation or company analysis. There are two capex in financial statement, one is from cash flow segment and one from ppe schedule. So which one I should use? Thanks very much!!...

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