Silver BananaTopic
+1
Next Steps in Prepping for Transition to ERFollowing up on a previous post of mine: https://www.wallstreetoasis.com/forums/critique-my-career-plan TL;DR - I work in risk and have been scheming to jump to ER. I passed L1 of the CFA this June. I am now trying to gain a foundation of knowledge so that when I network and eventually interview I...
0
Relationships with industry expertsI have 20+ years of semiconductor industry experience (R&D, corporate planning, corporate strategy) at leading semiconductor companies. Given my experience, a few experts networks have reached out to me and I have done a few calls with clients interested in knowing more about industry trends. (The...
0
Company Interview: Evercore - Summer AnalystNothing really unexpected. It was a first-round interview, so the interviewer followed the usual procedure of asking why firm, why that specific department, fit questions. No brainteasers. Asked a few easy probability questions. He then asked if I had any specific team on mind, which kind of caught ...
0
0
0
Company Interview: Fidelity Investments - Fidelity Investments Equity ResearchAsked if I was recruiting at any other firms. This was very early, maybe second half of August and I didn't have interviews at any other firms at the time. Was asked specific details about the retail industry because the interviewer wanted to gauge how strong my knowledge of the industry was after ...
+7
2017 ER BonusesWe are nearing that fateful time of year when numbers discussions take place. There are already a couple of these out there for IBD/S&T so let's round it out with ER. Let's keep this pretty simple and straightforward: Bank: BB/MM/EB/etc. Bonus: in USD. Also denote whether or not it's a stub. Base:...
+1
Study material for equity research job?Looking for equity research interview prep material any other tips for breaking into this role, what they are looking for etc...
0
Why are operating leases discounted at cost of debt and not at the rate of lease payments made? According to Damodaran, operating leases should be considered as debt. Fair enough, but why discount them at the same rate as debt when the cost is clearly different?...
0
0
Company Interview: Deutsche Bank - Quant-Equity ResearcherThis position involved a lot of machine-learning experience, so: - Can you describe 'word2Vec' algorithm? - Can you explain how Neural-Network work? - What makes deep-learning "deep"? More equity questions: - How do you compute the value factor? - What is a Z-score? - What bias is introduced if yo...
0
Choosing between offers: ER vs valuationsSo I'm in a fortunate position post-MBA where I'm in the final round about to receive offers from a few different places. I have the option to become an equity research associate at two different banks working for well regarded analysts, both who've gotten great exit opps for their associates, eith...
0
Equity Research Interview questionsHi, On short notice I have an interview with an analyst and an associate on thursday for an associate position. Can anyone give me a heads up on what will likely be asked? Will this be a fit interview or more technical based questions and if anyone can give an example as to what level of depth th...
0
What do you mean by Equity side and Credit Side?If you are saying an investor a equity side or credit side investor, dose it simply means sell and buy side?...
0
0
0
Jefferies Equity Research Summer InterviewI have an upcoming first round phone interview with Jefferies ER. Does anyone know how this process is like and what to expect?...
0
Company Review: Macquarie Group Limited ABN - Solid place to workGood work environment Great people Coverage at an early age Not terrible hours Opportunity to advance. Not large shop resources not very innovative stubborn management Smaller support staff No personal bloomberg...
0
0
2018 FT positions - What's the turnover of ER and FI desks?Hi guys, So I got a question about the desks in ER division. I see most ER programs at BB are rotational, just not really sure how it works. I mean from my understanding, not every desk hire newbie every year right? What if I had great interest in one specific desk but they have no opening this yea...
0
Attend Barclays After the Bell or Uni Career Fair?Hi everyone, I'm a junior at a semi-target and was recently invited to attend the Barclays After the Bell event. However, the event conflicts with my schools career fair. I'm wondering what you all think is more beneficial to attend for someone trying to break into Equity Research. In terms of what...
0
Company Review: Cantor Fitzgerald - ReviewGreat Culture and people, would love to go back to the office. Great summer experience as an intern. . Not too many cons, coworkers were always reasonable, gave quality work and were flexible with me always....
0
+3
Biotech equity research possible with ZERO finance experience? Hi all, So I graduated a couple of years ago with a science background, have been in research 4+ yrs at a top institution (in a very competitive field) with a handful of publications (including first author). I have been interning this summer at a pharma consulting firm but am also interested in ex...
0
Interviewing For A Specific Group- Equity Research I have been fortunate enough to land a few interviews for equity research positions for specific groups. Based on your experiences, what level of knowledge of the industry is expected for an entry level ER associate role? Should I have a long and a short for companies within the group I'm interviewi...
0
How do you forecast the income statement of a power generation/distribution company?As the title says, how do analysts usually go about it? The balance sheet might be a bit easier to forecast than the income statement so any information as to how to go about forecasting the income statement would be appreciated. ...
0
Equity Research Associate Interview - How Screwed Am I?On a scale of 1 to 10, how screwed am I for this inty? 28 days ago I applied to a couple positions (IB with a specific group and ER with a specific group) at one bank under their capital markets arm. I get a call Thursday saying that the capital markets arm would like to have me in for an interview...
+17
Ask an experienced senior analyst anythingSo I'm feeling a bit generous over the holidays. So have at it kids, ask away. Straight-dope answers will be provided....
0
Best Practices for Equity Research Analysts by ValentineBy chance, does anyone have a pdf ofthis book? if so, please pm me Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-Side Analysts James J. Valentine (Author)...
+9
AMA- High Yield/Distressed Debt Sell Side Analyst2nd year analyst at a boutique broker-dealer from a non-target state school. Also a CFA Level 2 candidate, working under multiple sector analysts with decent exposure to Oil & gas, metals & mining, and retail. We publish mostly on high yield/distressed debt situations but also some special situation...
0
GS Retailing Conference Attendees Does anyone have a list of the names at Goldman retail conference this past week? Can't find on terminal. ...
0
0
Career in ER - still worth it?I am wondering if a career in ER (sell-side) is still worth it? Especially in London/Europe. As far as I know it's becoming less important (less budget) and MiFID II is hitting it pretty hard. What's your suggestion for a prospective graduate? Move my focus to IBD (or S&T) instead? Long term goal i...
0
Best independent equity research shops in London?What are the best independent equity research shops that are present in London? Thanks to everyone that will reply...
0
Forecasting Dilution Impact of SBCHello everyone, I'm currently modelling a company thats issuing a ton of SBC, and I'd like to take it all into consideration for my 5-Year target price. I've used the treasury method to consider the dilution impact of all previously issued stock options, however this leaves me scratching my head fo...
0
0
Transitioning to ER from IRHey guys, longtime lurker and first time poster. I was wondering if anyone here has ever successfully transitioned from an Investor Relations role to a Research Associate role? If so did anyone do it networking with the sell-side analysts that cover your company? Or is this frowned upon in the ind...
0
Breakdown of time - ER AnalystHow much time does the average analyst spend researching vs. analyzing vs. dealing with clients. Are there any other primary duties that take up a large portion of an analyst's time?...
0
0
Calculating Enterprise Value from EBITDA and Revenue?I went for an interview recently, and I was given a case study where I had 4 years of historical EBITDA margins and revenue. Was asked to project revenue and EBITDA out 3 years, which was no problem. Then I was asked to guess a range of enterprise values for the company. I did not have any other in...
0
Modeling Apparel RetailersI am building a financial model for apparel retailers and are faced with the following challenge: How do I forecast growth rates in the current environment? At present, mall traffic is declining, online retailers like Amazon are aggressively moving into the space and in the case of many apparel ret...
+1
Regular Stock Pitches - HelpHey guys. So i have been tasked to pitch stocks every week from now on (in oral and written form, with 3 investments thesis and valuations, implying that I will be questioned thoroughly). While this might be the norm for most ppl here, I would just like to ask the general crowd on - Thought pro...
+1
Can you move from macro research to other departments?So I rejected an offer at a BB in its macro research department, for two reasons : 1) I believed that the experience in that department wouldn't allow me to move to other departments, although the managing director said she could send me to other departments (I doubted it) 2) I believed that if I...
+1
Can I pitch a micro cap stock for ER interview?I have an interview coming up for a BB ER associate position and was wondering if if could pitch a US micro cap stock which has a market cap of 75$million. I am very familiar with this company and have even been to their factory before ...
0
0
GS: Equity Strategy InterviewHi all, I have an interview with GS in the Global Investment Research department, for an internship position in the Equity Strategy team. What are they going to ask me at the interview? Which topics should I study more (e.g. econometrics and statistics/macroeconomics/financial theory/valuation meth...
0
Baird ER SA 2018 Position - Montage Invitation Anyone know anything about this process or what the video interview consists of? Welcoming all thoughts in general, thank you in advance monkeys. ...
+1
CFA for Equity Research?Hello everyone. I am an undergrad (non-finance major) interested in equity research. I don't know much about equity research job and I am still in the process of learning about the job, and hopefully applying for an internship next summer. I have seen a lot of forums on WSO about the CFA exams. ...
0
Help with DuPont Analysis!Hello everyone, So I'm hoping that perhaps someone is familiar with this approach, as I've built a model for DuPont analysis and am having some problems with the numbers. I am using CFA reading material (Reading 41) to help build my ratios out from an operating model of a company. The strange thin...
0
Research vs Equity Sales offersHi guys, I've been thinking about this decision for quite a while and would love to hear some feedback. I'm fortunate enough to have received offers from both divisions in GS, but here's the dilemma. I am leaning towards research due to the exit ops but as many may know, GS has a program that requ...
0
Company Review: Deloitte - Deloitte InternshipThe place is chill and the office looks nice. Their employment benefit is very good that we had catering service in good quality. . It appears to me that people in Deloitte are always in a competing state so the atmosphere is quite tense among the staff members. Different teams strictly remain as wo...
0
Where to go for help on a model?Hello, I am having a hard time creating a model for Core-Mark (NASDAQ: CORE). I got through most of it, but I can't seem to finish my debt schedule. I'm just looking for the right place to go with this. It's not for school/interviews or anything. It is strictly for learning. Thank you...
0
0
Primer or Initiation: Alternative Asset ManagementLooking for similar initiating coverage reports as this one: http://bbs.pinggu.org/a-1721182.html I think GS published one back in Aug 2015. Happy to trade other primers!...
0
Before start working as a sellside research associate covering financial stocks in AsiaHello guys I wanna ask for some advices from anyone who's familiar with this topic I'm gonna start my first full-time job as a research associate at a BB, covering China financial stocks. 1. I've read through the latest annual reports of banks and security firms on the coverage list, some research ...
0
0
0
0
0
+2
Equity research personal trading restrictions for immediate family members?I want to understand how typical industry personal trading restrictions for Equity Research Analysts (and associates) and their immediate family members work. Particularly in the case of immediate family members. Lets say that someone is an equity research associate covering a certain sector. I und...
+1
ER SA superday - stock pitch prepHi all, Have a BB research superday this week and am pitching a short. I have an IB superday the day before and therefore have limited time - is it a better use of my time to build out a DCF for my existing pitch (have solid qualitative reasoning, including Q2 results, already) or should I spend my...
+7
TMT Internet Industry Outlook ReportI have some great reports. TMT, Internet Industry reports by BBs. One report is on 2015 U.S. Consumer Internet Outlook 476 pager!...
0
Help a monkey out with some modeling basics Hello WSO, This will be my first WSO post and I will start by screaming for some help :). I have read a lot about equity research and now I want to put it in practice myself. With some help from the Martin Shkreli lessons (Legend) I made this: https://drive.google(dot)com/open?id=0By7ANhp6HBOvVGNr...
0
0
PhD/MD Transition to Pharma/Biotech Equity ResearchLooking to make the transition to pharma/biotech equity research from a science background (MPH, PhD), would like to know the best way to go about this. Any advice is appreciated!...
0
Interview Stock Pitch for AM vs HF vs ERAre there differences in how a stock pitch in an interview should be conducted in different areas or is there one applicable method to all areas. I am interested in a career in either of the 3 areas mentioned and I know "pitch me a stock" is a common question asked during interviews. I want to sta...
0
ER in BostonDoes anyone know where I can find a complete list of firms that employ investment research associates in Boston? I know who the big players are, of course (Fidelity, Wellington et al.), so I am searching for the smaller, lesser known ones. I recently passed CFA I, and I am looking to send out emails...
0
Company Interview: Evercore - Evercore Equity Research Summer Analyst Pitch me one stock. Pitch me another stock. Really detailed questions on your stock pitch. So make sure your know your stocks well. Also asked some accounting questions. My interviewer asked why I wanted to do sell side equity research instead of buy side. I didn't prepare for that question at all, ...
0
0
What to expect from Hirevue? I got a hirevue for an ER internship at Raymond James and I've never interviewed for an ER position in any aspect. What kind of stuff should I expect? Although it's only hirevue, I know sometimes you can get asked technicals or market questions ...
0
Primer Or Initiation: Commercial Banking IndustryI'm looking for something like this from other equity research analysts. Happy to trade other primers or valuation reference books. I'm looking for the commercial banking equivalent of the following: * https://www.scribd.com/document/318801161/Banking-101-Large-Cap-Bank-Primer-Deutsche-Bank-2011...
0
Best ER firms for healthcare in London?What are people's views on which firms are currently leading in healthcare ER covering European equities? particularly interested in which of the MM banks are doing well - and what any of these are like to work for. ...
+3
How to improve your knowledge of markets?Hi all, I am an undergraduate at a target school and interested in possibly working in equity research. The problem is that I am not an expert in any way on financial markets. Do any of y'all have recommendations of any resources (videos, books, publications) that should help me get started? I won'...
+22
Ask a VP in Equity Research anythingI haven't seen one of these in a while, so I figured I would start one. I am a Vice President in equity research, with coverage of a selection of stocks (from mid to small cap firms) within a large sector. I'm at a top 10 bank. Ask me about how the industry works, lifestyle, recruiting, compensati...
0
Equity Research Internship InterviewI have a superday coming up for a 2018 equity research internship, and I'm currently preparing my stock pitch. For internship interviews, do they expect us to calculate and perform a valuation for the company we pitch? If so, what model is best (DCF, comparable companies analysis, etc.)? ...
+1
Quick dcf question about 1-year TPWhen you run a DCF, you're taking all future free cash flows and discounting it to today. So essentially, that's the intrinsic value of the company at the present. If you're looking for the 1-year TP, would you discount the free cash flows back but only up to the period one year from the present?...
0
Estimating lost yield- Stock Repurchase modelHi Everyone, I am attempting to recreate a stock repurchase model I was researching from a sell side report. Fro my understanding, the inputs required go like this: 1. Estimate future cash, Net income, dividend payout 2. Estimate Net (post-tax) cash yield, given the historical interest income and...
0
Company Interview: Barclays Capital - Equity Research If you could have dinner with anyone not in finance, who would it be and why? If you were writing an autobiography, what would the title of it be? Pitch me 2 stocks: one long and one short. How does a $10 increase in depreciation affect all three financial statements? What is one thing you left ...
0
0
+1
Grammar in equity report vs Compliance.............................................................................................................................................please delete...
0
How is Nomura Instinet EQR?Do you think it can survive the Mifid2 regulations? and how would you rate job stability there (For me its a big deal, because i just got laid off so dont want to work hard for a couple of months just to get laid off come Mifid2 time) ...
+1
Tips For putting together an ER ReportHello, I am attempting to do some side research and write up my first ER report and I have a few basic questions. 1.Do I need to do a valuation first, as in come up with an intrinsic value of the company, before I dig in deeper into the 10k's, press releases, etc? I recently signed up for WSP mode...
0
JPM researchHey there, Anyone here have access to JPM research? I have access to other BB and broker reports. Willing to exchange some reports/primers for some stuff from JPM. Thanks...
+2
Worth going for the CFA if my goal is VC/startup?Hello everyone. Ill keep this short and sweet (the goal of Wall St am I right?) - 10 months into an ER job (learning a ton, great job, intense boss though and hours obviously) - Debating taking the CFA. I have all 4 certs already - If so I would do CFA 1 in June. Debating if its worth it. I love t...
0
0
0
Equity Research writing test+modeling test next Tuesday, seeking for adviceHey guys, I am going to attend a 2 hours writing test + modeling test for an ER position next Tuesday, since I dont have any experience or much knowledge about ER, could anyone give me some advice on what the test might cover or what should I prepare for it? Thanks....
0
0
Alerian MLP Index, anyone?I am a consumer analyst based in Hong Kong not really familiar with energy at all. However, a client called up asking about Alerian MLP index. Can anyone give me some head-ups about the index please? Is it an important indicator in US energy market? Many thanks guys...
0
0
0
Series 63 STC or Kaplan?Hi I am taking the series 63 and wanted to know what review people recommend? Thanks ...
0
Company Interview: Morgan Stanley - Summer Research AnalystIf I gave you a million dollars to invest, what would you do. Do you have a stock pitch prepared? What would happen if etc? Tell me about your summer experience, what did you enjoy and not enjoy. Why Equity Research over anything else? What do you study at school? Do you have any additional question...
0
JPM/MS Internet PrimerLooking for Internet primer from JPM/MS/GS Willing to exchange primers for other Tech Groups/Spaces...
0
Company Interview: Samsung - InternshipThe most difficult or unexpected question was the group discussion round where we had to speak about Samsung vs Apple. It was a difficult question given that we were not given any time to prepare for the round and no prior information on the type of questions to be asked by them on the given topic....
0
DeMatteo Research?Has Anyone ever heard of DeMatteo Research? They appear to be an independent broker-dealer/equity research firm in New York. I Don't know much about them. Thank you!...
0
JP Morgan AM - Equity ResearchWondering 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...
0
Capital IQ University AccessIf anyone has and is willing to share access Compustat / Capital IQ fundamental data the get through their university, I'll make it worth your time. My firm doesn't use it, and I trust their fundamentals over what I'm getting. I only need it for a month. Don't want to deal with their sales departmen...

Pages