Best Practices for Equity Research Analysts

书名：Best Practices for Equity Research AnalystsEssentialsforBuy-SideandSell-SideAnalysts
作者：JamesJ.Valentine
译者：
ISBN：9780071736381
出版社：McGraw-Hill
出版时间：2010-12-13
格式：epub/mobi/azw3/pdf
页数：402
豆瓣评分： 8.2

书籍简介：

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.

作者简介：

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.

书友短评：

@ zhifeige 下午和三个买方的分析师hiking然后去他们办公室溜达了下..看到这本书觉得眼熟借来一阅..大致翻了下写的挺好的..例子错落有致..缺点就是如此经验丰富的专业人士写起书来..描述的依旧是真空理想环境里的业态。卖方没法写negative的..即使有也是第一时间和买方沟通了..这是票仓和佣金的来源..但坏事情肯定不能告诉市场。如果要拿着这些脑袋灌铅的分析师报告当真那就是大傻子..南京有个地产老板大把钱进去..被ss提供的服务吸引..巧言令色哐哐两下亏干净了拿着五斗米打算换十斗结果五斗米也没有了。我相信有非常优秀的分析师..但integrity这个事情…一言难尽了.. @ WaaaaaaKaaaaaa 1. Behavioral的东西很实用，sellside & buyside 之间的power dynamic和time management蛮有趣的。2. 问问题的时候可以做到informative & comfortable也说明对各个player之间的信息差和bias理解到位了。有时候找不到好答案是因为提不出好问题。 3. Analysis的部分感觉作者还是希望尽可能追求全面完整，实操中还需要多想想priority的问题 @ zhifeige 下午和三个买方的分析师hiking然后去他们办公室溜达了下..看到这本书觉得眼熟借来一阅..大致翻了下写的挺好的..例子错落有致..缺点就是如此经验丰富的专业人士写起书来..描述的依旧是真空理想环境里的业态。卖方没法写negative的..即使有也是第一时间和买方沟通了..这是票仓和佣金的来源..但坏事情肯定不能告诉市场。如果要拿着这些脑袋灌铅的分析师报告当真那就是大傻子..南京有个地产老板大把钱进去..被ss提供的服务吸引..巧言令色哐哐两下亏干净了拿着五斗米打算换十斗结果五斗米也没有了。我相信有非常优秀的分析师..但integrity这个事情…一言难尽了..

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