Posted this on the ER forum yesterday but nothing. HF seems to be more lively.
So I'm about a year into my position as an equity research associate (SS), just attempted the CFA Lvl 2 in June...but I'm looking for ways to continue improving my technical knowledge base. I can perform most activities you would expect from a one-year associate. Is there a skill or expertise that could potentially separate me from others down the road on the buy/sell-side (other than industry knowledge, obviously)? Not really thinking about making a run at IB...my initial thoughts were M&A modeling or attacking bond analysis, credit analysis. Can clarify the question if needed. TIA
You should really learn programming. Some of the skills will help you in bond and credit analysis.
Can you give me example of the programming you mention.
Start from the basics and build your way up. If you want ideas, it would be VBA, SQL, Python. Having those down, in a bottom-up fundamental role you should be more than set to add value in terms of automated data collection which would allow you to build proprietary databases and have a unique angle on certain issues in a given sector/industry. Many would say that for these kind of roles programming is not very useful, but we are moving into a world where it's all about efficient data mining and use of said data. Programming makes the job easier.
Regarding M&A modelling, credit analysis etc., if you want you can explore those avenues, but it's not necessary. especially if you won't be going into a buy-side role where that's an integral part of the job. From a traditional investor's perspective when it comes to M&A, if you can build a simple merger model you're good to go with M&A-specific "modelling".
If I were I'd just learn sourcing ideas / coming up with ideas yourself, modelling them out, coming up with a thesis, doing incremental research to gain conviction around said thesis and learn like that to think as a buy-side professional would. Makes for good chit-chat at interview stage with PMs.
This is what I'm looking for, thank you. Will check out these programming techniques.
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