What does an efficient ramp look like?

Research analysts, if you had to ramp on your sectors from scratch (no muscle memory or scar tissue at all) all over again, how would you do it? What was your ramp like, and what would you do differently from what you did previously?

Possibly transitioning from a generalist seat @ a SM to a sector specialist role @ a pod shop. Would love to get this right.

TL;DR - what is the path of least resistance / shortest distance from scratch to your current process?

Comments (5)

Most Helpful
Dec 27, 2021 - 8:43am
sonibubu, what's your opinion? Comment below:

I know people like to shit on the sell-side a lot, and sometimes deservedly so, but when I came to the dark side (aka MM world) from LO, I found industry and company primers to be very useful as I ramped up coverage in a new sector. My ramp process consisted of the following:

-go through Q/K for the basics (what they sell, where they sell, key customers, geographic locations, end markets, competitors, MD&A, etc)

-read sell-side primers and initiations (more to learn about the company/industry and key stock drivers rather than develop a view on the company/stock). Hopefully the primer is recent rather than 2-3 years old.

-talk to the sell side. Usually a conversation with an associate rather than the covering analyst. Associates who cover the name know as much about the company, sometimes more, than the covering analyst.

-set up a call with IR to ask anything that sell-side didn't cover (if they can actually talk about it and it's publicly disclosed). This also helps to build a relationship and develop corporate access down the road.

-previous transcripts to nail down key stock drivers and see what the latest commentary to the public markets are.

I'm sure I'm missing some things but this covers the basics of my ramp up process.

Dec 27, 2021 - 10:52pm
Dunder, what's your opinion? Comment below:

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