Things to learn for an ER role!

you guys can get the model from oldmonk. i don’t have time and don’t get paid to send stuff around. any complaints, please direct them to oldmonk.
 
j-rad Wrote:
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> I’m sure he will upload the file.. no need to post
> emails.
actually, not to be totally non-constructive, but i won’t be uploading the file. i don’t want to encourage this type of behavior where people hang around the forum with nothing to contribute, only to emerge when there are “freebies” to be distributed. i’m far more inclined to help people who help others, i.e. the people who take time and energy out of their day to offer useful advice here on a regular basis, not just people who post their e-mail addresses when there’s something to be given away.
these statements are not directed at anyone personally – in fact, they actually follow in the footsteps of those 100+ post threads where people seem to come out of nowhere just to get on the bandwagon for free goods. however, anyone who does take what i said personally should resist the temptation to sulk and instead find ways to contribute to the forums. remember…this is finance and you gotta learn to earn your keep.
 
numi Wrote:
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> j-rad Wrote:
> ————————————————–
> —–
> > I’m sure he will upload the file.. no need to
> post
> > emails.
>
> actually, not to be totally non-constructive, but
> i won’t be uploading the file. i don’t want to
> encourage this type of behavior where people hang
> around the forum with nothing to contribute, only
> to emerge when there are “freebies” to be
> distributed. i’m far more inclined to help people
> who help others, i.e. the people who take time and
> energy out of their day to offer useful advice
> here on a regular basis, not just people who post
> their e-mail addresses when there’s something to
> be given away.
>
> these statements are not directed at anyone
> personally – in fact, they actually follow in the
> footsteps of those 100+ post threads where people
> seem to come out of nowhere just to get on the
> bandwagon for free goods. however, anyone who does
> take what i said personally should resist the
> temptation to sulk and instead find ways to
> contribute to the forums. remember…this is
> finance and you gotta learn to earn your keep.
I have to agree. I’m not of fan of the freeloading chain email request.
However, I am an active participant of this forum, Numi. I’m here every day soaking up and transferring knowledg and participating in discussion. Therefore, could you send me the model as a personal favor? I would surely benefit and appreciate it.
 
numi Wrote:
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> oldmonk, I just sent you a link to the ABT.xls
> model that you can download. If anyone asks for
> it, please download it and circulate/send it
> around. Good luck
Thanks Numi.
I will upload the file once I have it. Numi sent it to me thru Google docs and it needs access approval (from Numi) once I click on the link.
I agree that there are plenty of freeloaders out there and there are guys who genuinely contribute to the forum. For people who download, please make an effort to contribute wherever you can.
And thanks Bromion for the advice as well. You are right on the mark.
Also, here is a link to another thread on modelling with some great input from Numi.
http://www.analystforum.com/phorums/read.php?1,791137,page=1
 
oldmonk, another piece of advice from someone who’s doing er for several yrs now.
any model uses the elements included in the xls above.
what differentiate a good analysis from this xls is the operating part of the model, aka how well an analyst understands the business of a company. i’ve seen models with thousands of lines just to estimate a company’s business segment’s revenues.
everyone knows the theory, you learn it in the CFA and in almost every finance course.
but not many understand the operationals in such a manner that they could do for example a proper swot of the company
 
olfy Wrote:
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> but not many understand the operationals in such a
> manner that they could do for example a proper
> swot of the company
This is very true. 99% of the SWOTs you see are pure BS, unfortunately.
A final piece of advice: an analyst has to be articulate. This means phrasing your investment ideas in a clear and straightforward manner. Also, the “distinguishing fact from opinion” bit from the CFAI materials applies as well. I would recommend reading through some research to look at the way analyst formulate their ideas, and think about whether they may have been stated in a better way. A lot of work involved in writing equity research is editorial stuff, i.e. how to phrase certain concepts, which section should go where, etc.
 
olfy Wrote:
——————————————————-
> oldmonk, another piece of advice from someone
> who’s doing er for several yrs now.
>
> any model uses the elements included in the xls
> above.
>
> what differentiate a good analysis from this xls
> is the operating part of the model, aka how well
> an analyst understands the business of a company.
> i’ve seen models with thousands of lines just to
> estimate a company’s business segment’s revenues.
>
>
> everyone knows the theory, you learn it in the CFA
> and in almost every finance course.
> but not many understand the operationals in such a
> manner that they could do for example a proper
> swot of the company
And I guess that comes with experience.
It’s the same as researching fund managers. The good researchers at my firm can pretty much tell why a particular manager is holding x% of a certain stock or why a PE fund raising is going so slowly for another along with dissecting the personalities of the PMs.
I am hoping to collect as many aids as I can in preparing for my job search/interview w/o going overboard.
 
Billy Collins Jr. Wrote:
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A lot of work involved in writing
> equity research is editorial stuff, i.e. how to
> phrase certain concepts, which section should go
> where, etc.
But isn’t that more for sell side, broker research etc.
Does a buy side analyst have to spend countless hours writing reports?
 
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