ER Skills & Investing in Personal Account
Do the skills that you develop analyzing stocks in ER allow you to make good money on the side trading in your account?
I know that that trades need to be approved prior to execution when you are working in Finance (and there may be other trading restrictions), but is successful investing outside of work common among ER analysts and associates?
I'm a junior looking at the differences between the ER and IB career tracks and the ability to become great at identifying attractive investments in ER seems like a great differentiator as opposed to the Excel + Formatting of IB.
Would you say that ER skills would be more applicable to a Portfolio Manager role than IB skills (or is IB in general still the way to go if possible)?
It seems that most equity analysts at Wall Street get it right about 50% of the time or less... so I'm not sure if it would be of much help.
ER skills are definitely more applicable to a Portfolio Manager role than IB skills.
As far as investing your own account, there are very heavy restrictions around doing that no matter what area of a bank you work in. ER does give you a good skill set to evaluate investment opportunities, but it also gives you a healthy appreciation for how much you don't know about stocks you don't spend all day every day covering. You may be less inclined to invest heavily in individual stocks because you realize how professional money managers and others who cover that sector have soooo much more information than you do as someone who isn't following that sector/stock professionally.
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