WSO - Please forgive my ignorance, however, I am curious as to how HF analysts or individual investors approach investor relations with their questions post quarterly calls. Do they just call the number or email the relevant person on the IR team with their question? What is the typical way analysts approach this?
Thanks!
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Hi LMidMarket, check out these threads:
Fingers crossed that one of those helps you.
I usually don't reach out to mgt until towards the end of my process, so at that point I generally have a full list of questions. 100% of the time I want to speak to mgt and not IR, although some of the IR teams at larger companies are quite good. I have found the best results from just emailing my list of questions to IR. This allows me to bypass IR more often than not, as my list will generally contain questions that they don't have the answers to.
Alternatively to Secyh, we are not a large or fundamental fund so mgmt has very little interest in interacting with us. This means we are mostly going through IR. We try to find the individual contact info for IR reps, because the main voicemail and generic IR email addresses tend to get clogged. Then its just about calling and emailing until they pick-up the phone or respond to your requests to schedule a call. We don't tend to email the questions we are planning to ask because we'd rather work through them in a conversational manner.
If you're reaching out during a busy time for them like post-earnings, usually best practice would be to email them or leave a voicemail requesting a call-back. They'll be swamped so you're just trying to get your name on the list that they're working through. Relationships you maintain with them outside of the busy times as well as the size of your fund/position in the company will determine whether they bump you up the list.
I would agree with everything you said. We are not large either in the grand scheme of AUM, and to clarify, emailing the list of questions that I suspect IR would have a tough time answering is more of a tactic to get to management rather than a general approach. I am also requesting a call back along with the list, and the list will only contain some of the more granular/specific questions I end up coming away with. I save the more qualitative type questions for the call, as I would also prefer to see how mgt/IR addresses those without any prep.
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