MM Pitch Examples/Format
Are there specific writeups/examples available to get more comfortable with the structure of how a pitch should be laid out in the MM world?
I.e. what drivers to focus on, catalysts, structure of order, etc
"chart looks pretty good, numbers for next quarter seem pretty low and they have easy comps, lets buy some and watch"
First two: the drivers and catalysts to focus on is something you should figure out on your own. These will be different for each debate/stock
As for structure, everyone will have preferences but I tend to like: outline of pitch (stock, PT, upside), v brief outline of the company (mkt cap, sentence on what they do and where, super super brief pls), why the opportunity exists/stock narrative, thesis points, valuation/catalyst.
3 min pitch, shouldn't need a slide deck.
"my buddy ken at century63 likes it long into earnings they know this name pretty well, lets buy some"
It seems like concision is a common theme for mm pitches, but curious how that translates to depth and detail of the analysis an mm analyst might conduct is? Realistically if covering a basket of 20-30+ names, is it even feasible to build detailed quarterly models and memos?
The process of distilling an investment thesis to 1-3 pages does not negate the granularity that required you to form that view.
Memo aside, how granular can the work realistically get for each name? Does it get more detailed than sell-side work, or maybe with a separate focus? Are certain names given more attention, time front loaded during initiation, etc.?
You shouldn’t be producing memos. Your pitch should be something you can explain in an email or convo with your pm. If he needs more detail he can ask
You talk about a 20-30 name universe like that's a lot.
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