Strategies to ask good questions during expert network calls?

Something I'm kind of struggling with. For example - there are times where I need to get to a piece of information that the expert is not going to give me, if I word the question too bald facedly - "What is revenue for the next 3 years quarterly", or "what contracts are you landing next year", obviously, that's MNPI. However, I am having issues asking about basic things like "what is the business mix" and things like that.

I'm trying to come up with a framework to get around this, and pool together tips to ask good expert network questions. I've noticed not asking directly about the actual metric but things adjacent to the metric help, as well as asking people who work at competitors what they think about the inner workings of the target company helps too. 

Note - not advocating for insider trading, just want to pool together how to best get more scuttlebutt out of experts.

 
Analyst 1 in AM - Equities

Something I'm kind of struggling with. For example - there are times where I need to get to a piece of information that the expert is not going to give me, if I word the question too bald facedly - "What is revenue for the next 3 years quarterly", or "what contracts are you landing next year", obviously, that's MNPI. However, I am having issues asking about basic things like "what is the business mix" and things like that.

I'm trying to come up with a framework to get around this, and pool together tips to ask good expert network questions. I've noticed not asking directly about the actual metric but things adjacent to the metric help, as well as asking people who work at competitors what they think about the inner workings of the target company helps too. 

Note - not advocating for insider trading, just want to pool together how to best get more scuttlebutt out of experts.

You sound like someone that will pull a Kamensky when you get older.

 
Most Helpful

I usually try to research my firm from publicly available information. This becomes extremely easy if the firm is public. Try to look at the 10K and 10Q reports that have the MD&A section. This provides you with good opportunities to ask questions reg. Their short term and long term strategies. Then we you have equity research reports available via either Morning Star, Bloomberg, Yahoo, or Thomson One. These provide you with ample strategic questions since the analysts will rip out the financials and the strategies of a firm and present it to you in a very simple language and format. Use these research reports to frame questions reg. The aforementioned MD&A strategies.

And then also look at the same reports for the competitor firms. That will help you access where your particular firm stands in relation to the competitors and the market.

In case your firm is private, try speaking with people from the different firms in the same industry and get their perspective or read the research reports on their publicly traded competitors.

I have found the above method to be very effective and it provides me with good questions to be asked from an associate level to the MD and partner level for both my information calls and my super day interviews.

 

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