Difference in quality between #1 ranked and #2/3 ranked ER teams?

How do you guys view the difference in quality between the #1 ranked team and #2/3 ranked teams based on II rankings? I know that the II ranked teams are usually better but I don’t know if it makes a big difference depending on the exact rank, so I wanted to gauge the counterparty.

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Don’t think about the ranking at all until I’m begged to vote. Within my coverage some of my favorite analysts have garbage ranks and the #1 ranked is just fine, it’s about catering towards different clients and PM vs analyst needs. The guy who is a machine at getting the most precise callback notes isn’t going to rank very well since analysts love him but PMs and LO clients won’t interact with him. That said there are some #1 ranked teams that can do it all and just run their sector

 
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Yeah I don’t really pay attention to II rankings either. Also a sellsider can be good / useful for different reasons. Some folks put out thoughtful analyses on the relevant debates / are willing to make independent calls that don’t just hug the guide.

Separately, there are analysts who’s models / stock calls I would never look at, but are really plugged in with mgmt / industry contacts.

Both of these can be very value-add in their own ways and really have nothing to do with II rankings.

 

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