Monkeys, I would really appreciate your help in this matter.
So I have to write a 5-6 page long report on a Chinese stock that trades on a U.S. exchange (ADR). I was told that it shoud contain an investment thesis, executive summary, couple of reasons why it's a buy, valuation, potential risks. I have about 10 days or so to complete it, and it's for a distressed debt fund that invests in China. (Can't give any more info on the company or why they asked me to do this for them).
I've looked at sample reports on sumzero as a starting guide. Anything else I should look at? I've never done a buyside fundamental report before, so I'm trying to get up to speed.
Thanks a lot.
Maybe sellside research reports could be a good starting point too. Especially fixed income research.
But the format is pretty standard. Exec summary/rating on the first page. Then next few pages a brief description of the company and the three main reasons why it will be able to make interest payments. Then the all important risks section highlighting red flags and perhaps a model to attach to that.
Thanks. From looking at various sellside reports, it looks like there is no standard format at all. Some will include a table of earnings summary as well as a table with the names of management and how many shares they own. Others will skip the executive summary altogether and plunge straight into the investment thesis.
Given that mine will only be 5-6 pages, I imagine that it will need to be very succinct by presenting a general overview of the company, industry, its competitors and go straight into the 3 main bullet points on why it should be a buy. I should probably attach an earnings summary table as well (i'm guessing i could find that in the 10-K report).
Agree with you on the earnings summary.
although i have no buyside experience, i would not focus too much on the stuff sellside puts out. yes earnings are important, but dont put all your weights on financial modelling, and more importantly, dont put all the weights on eps/revenue/ni predictions, rather focus on reasons why it will be good, this is usually common sense stuff, no financial bs required
Ullam sunt et consequatur consequatur. Omnis non quia temporibus molestias eos. Cumque voluptatibus sit odio blanditiis minima sint non earum. Quod quo itaque eveniet est quo eveniet autem.
Quia aliquam aut expedita voluptatem et id ipsa. Cupiditate et aut dolorem molestiae minima repudiandae vitae. A rerum libero doloremque magni et. Ipsum consectetur est exercitationem repellendus molestiae.
Ipsum molestiae maiores maxime aspernatur nesciunt architecto. Consequatur totam maxime et est debitis quasi neque. Et reiciendis totam accusantium dolor. Rerum reprehenderit repellat voluptas cum similique. Non id velit tenetur debitis. Ab ad unde labore ut ullam iure. Itaque aut a perferendis magnam cupiditate laborum.
Recusandae dicta ipsa molestiae quia maiores. Rerum consectetur voluptatem nulla qui. Deleniti ducimus laborum fuga cum consectetur ea vitae accusamus. Quia in non tempora exercitationem ipsam accusantium et explicabo. Sapiente fugiat impedit voluptas necessitatibus ducimus id.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...