Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale
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A real-world guide to becoming a top-performing equity analyst

Praise for Best Practices for Equity Research Analysts:

"Jim Valentine has taken his decades of experience as a highly successful security analyst and written an effective and comprehensive guide to doing the job right. I only wish I had this book by my side throughout my career." -- Byron R. Wien, Vice Chairman, Blackstone Advisory Partners LP

"Given the fast pace and high-pressure nature of the markets, analysts don''t have the luxury to make mistakes. James J. Valentine''s Best Practices for Equity Research Analysts should be required reading for all new and experienced analysts, particularly those who were not lucky enough to be brought up in the business under a mentor. Valentine can be that mentor." -- Jami Rubin, Managing Director, Global Investment Research, Goldman Sachs

"Jim''s book is an excellent window into the world of securities research. Very few works cover the complete life cycle of an analyst and the necessary balance between theory and practice. This is one of them." -- Juan-Luis Perez, Global Director of Research, Morgan Stanley

"Valentine''s book doesn’t rehash the basics of finance but covers all the nonacademic topics in terms of how the analysts should manage their time, resources, data, and contacts in order to come up with the best stock picks. This book is required reading for beginning analysts and a must-read for all analysts who want to develop an edge." -- Carl Schweser, Founder of Schweser’s Study Program for the CFA Exam

"Best Practices for Equity Research Analysts is by far the best written and most comprehensive book that I have read on how to become a top-notch analyst. I shouldn''t be surprised; it was written by one of the best analysts that Wall Street has ever seen. Every securities firm should require their analysts to read this book." -- Eli Salzmann, Portfolio Manager

Most equity research analysts learn their trade on the job by apprenticing under a senior analyst. However, equity analysts who work for senior producers often have little time or incentive to train new hires, and those who do have the time may not have research skills worth emulating.

Now, Best Practices for Equity Research Analysts offers promising equity research analysts a practical curriculum for mastering their profession. James J. Valentine, a former Morgan Stanley analyst, explains everything today''s competitive analyst needs to know, providing practical training materials for buyand sell-side research analysis in the United States and globally.

Conveniently organized for use as a learning tool and everyday reference on the job, Best Practices for Equity Research Analysts covers the five primary areas of the equity research analyst''s role:

  • Identifying and monitoring critical factors
  • Creating and updating financial forecasts
  • Deriving price targets or a range of targets
  • Making stock recommendations
  • Communicating stock ideas

Expanding upon material covered in undergraduate courses but written specifically to help you perform in the real world, this authoritative book gives you access to the wisdom and expertise of leading professionals in the field. You''ll learn best practices for setting up an information hub, influencing others, identifying the critical factors and information sources for better forecasting, creating a better set of financial forecast scenarios, improving valuation and stock-picking techniques, communicating your message effectively, making ethical decisions, and more.

Without Best Practices for Equity Research Analysts, you''re just treading water in the sink-or-swim world of the equity analyst.

From the Publisher

James J. Valentine, CFA, has been an equity research analyst for Morgan Stanley, Salomon Brothers, Smith Barney, and Paine Webber. During his career, he served as Morgan Stanley''s associate director of North American research and its director of global training and development, where he was responsible for implementing new programs for more than 1,000 employees located in financial centers around the globe. For 10 consecutive years, Institutional Investor ranked him as one of the top three Wall Street analysts within his sector.

About the Author

James J. Valentine, CFA, has been an equity research analyst for Morgan Stanley, Salomon Brothers, Smith Barney, and PaineWebber. During his career, he also served as Morgan Stanley''s associate director of North American research and its director of global training and development, where he was responsible for implementing new programs for more than 1,000 employees located in financial centers around the globe. For 10 consecutive years, Institutional Investor ranked him as one of the top three analysts within his sector.  In 2006, Forbes named him one of the top three analysts among all 2,000 U.S. sell-side analysts that year.  He has been recognized for his stock picking, earnings forecasts and client service from the Wall Street Journal, Thomson Reuters, Institutional Investor, and Greenwich Associates.  He holds a Masters degree in finance and the Chartered Financial Analyst (CFA) designation.  He lives in a Connecticut suburb of New York City with his wife and three children.

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4.6 out of 54.6 out of 5
135 global ratings

Top reviews from the United States

checkit
5.0 out of 5 starsVerified Purchase
Lots of good information, obviously would have been better if the ...
Reviewed in the United States on July 5, 2018
Lots of good information, obviously would have been better if the examples were more in depth but his blog can be used as a nice supplement.
4 people found this helpful
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R. Charles
5.0 out of 5 starsVerified Purchase
This is a terrific guide for analysts
Reviewed in the United States on April 30, 2018
This is a terrific guide for analysts. Packed with tons of useful information and written by an author who instructs research analysts. I would highly recommend for anyone interested in an equity research career.
4 people found this helpful
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Sircornflakes
4.0 out of 5 starsVerified Purchase
Solid material
Reviewed in the United States on June 20, 2011
I thought this book was informative and was a good overview of much of the material on valuation, due diligence, and behavioural finance contained within the CFA curriculum. The author''s own experiences surely added more depth to the material. I would suggest... See more
I thought this book was informative and was a good overview of much of the material on valuation, due diligence, and behavioural finance contained within the CFA curriculum. The author''s own experiences surely added more depth to the material.

I would suggest that future editions contain a disc or web access to go into more detail on sections (autocorrelation in residuals, time series, etc..) and provide non analysts with the opportunity to run through exercises.

Or consider exercises on one long valuation throughout the book running from top down, bottom up selection of sector and company. A fictional interview with management, running a history of numbers, forecast earnings..come up with various price multiples..and finally making a recommendation.

I think that would give readers a more interactive experience and help to use those many Excel tricks.

On the whole, I extracted some value from this book.
21 people found this helpful
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Jensen
5.0 out of 5 starsVerified Purchase
Best book on this topic
Reviewed in the United States on July 3, 2020
How to think is critical and this book is great.
One person found this helpful
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Khalil
5.0 out of 5 starsVerified Purchase
Excellent.
Reviewed in the United States on September 30, 2019
Can''t describe, very happy on this one.
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Fabio D Noronha
5.0 out of 5 starsVerified Purchase
Way better than the title suggests
Reviewed in the United States on April 21, 2014
The title is actually a very humble description of what one can get from the book. I believe it is esssential for anyone into financial analysis professions. It covers from how to relate with management of covered companies to valuation methods to excel tips.
One person found this helpful
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Noah
4.0 out of 5 starsVerified Purchase
Good Guide to Keep on Your Desk
Reviewed in the United States on May 21, 2012
This guide provides you many broad categories you need to think about on an equity research job, such as time management and interview skills with companies. However, just reading this book will not make you good at doing those things. It is not the kind of "knowledge... See more
This guide provides you many broad categories you need to think about on an equity research job, such as time management and interview skills with companies. However, just reading this book will not make you good at doing those things. It is not the kind of "knowledge books" filled with detail, examples and historical contexts. Instead, it is more like a step-by-step guide. Overall, it is a good book to be kept on the desk for reference.
3 people found this helpful
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Amazon Customer
5.0 out of 5 starsVerified Purchase
Five Stars
Reviewed in the United States on June 19, 2018
Great information. So much stuff that you don''t learn in a standard university finance program.
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Top reviews from other countries

Omar Ismail
5.0 out of 5 starsVerified Purchase
Highly recommended.
Reviewed in the United Kingdom on December 29, 2015
Incredibly relevant and practical guide for equity research. Covers a broad range of skills (from time management through to forensic accounting). Highly recommended.
One person found this helpful
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Sai Kiran
4.0 out of 5 starsVerified Purchase
Title is tempting but in the end the routine story like "typical bollywood kind off ending"
Reviewed in India on February 18, 2019
Well as soon as Equity research analyst named the Book Becomes trending because the only place people buy more and more books to look in to the practises done by mnc Analysts .But in the book lies their nature and reactions and psycologies and other stuff dont expect the...See more
Well as soon as Equity research analyst named the Book Becomes trending because the only place people buy more and more books to look in to the practises done by mnc Analysts .But in the book lies their nature and reactions and psycologies and other stuff dont expect the Valuation models or algotihm training camps in the book ..Just a look Into the life of analyst if i had option with this book i would suggest traders guns and money ..So book lovers can give a try if you r a finance professional , others can take this one as optional
7 people found this helpful
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Amazon Customer
5.0 out of 5 starsVerified Purchase
An absolute must for equity research analysts
Reviewed in Canada on September 2, 2020
I’m a 4th year undergraduate student in finance graduating this year with experience in investment management, specifically in managing my University’s endownment fund and from an internship in private equity. If you’re looking to start a career in public equities or as a...See more
I’m a 4th year undergraduate student in finance graduating this year with experience in investment management, specifically in managing my University’s endownment fund and from an internship in private equity. If you’re looking to start a career in public equities or as a junior at an investment bank, I would not recommend any other book other than this one. Extremely useful information that you cannot get access to unless you already have work experience in the field. This book provides you with the best equivalent to that work experience if you do not yet have it. I recommend this book to all my highly determined, motivated, and intellectual colleagues. Another great book to get deeper into the financial reporting provided by publicly traded companies is Financial Shenanigans by Howard Schilit, which the author of this book also recommends (I had read this book before James Valentina’s).
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Anand
4.0 out of 5 starsVerified Purchase
Best book to read as it will help to in Steps required to become a Equity Research Analyst
Reviewed in India on August 26, 2018
This books helps you to figure out the efforts required to become a successful equity research analyst. You may stick with few steps but spend time over it. It may help you to be a good research analyst.
2 people found this helpful
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Krutik
2.0 out of 5 starsVerified Purchase
Good only for people inside this Industry
Reviewed in India on July 11, 2017
Bought it to know about equity research however, the book is about what an equity research analyst should do everyday with the time available.
7 people found this helpful
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Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale

Best Practices for Equity Research Analysts: online Essentials for Buy-Side and Sell-Side sale Analysts sale