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Microcaps-When will value.be unlocked?
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Message Icon Topic: Are Equity Research analysts merely accountants? Post Reply Post New Topic
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xpresso
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Quote xpresso Replybullet Posted: 21/Dec/2011 at 4:33pm
Basantji,
 
Agree with your views on most analysts. Analyst reports should be used for getting information only rather than analysis - which we ourselves have to do.
 
One aspect where I differ is my preference to hear management views of forecasts on numbers since it requires management to be far more thorough than forecast on qualitative parameters only which is easier. It helps to judge management over the long run. The management that is good at forecasting business scenarios and numbers also get a premium valuation like Infosys.
 
For a retail investor like us, getting the nos and weaving it into the overall projections throws up inconsistencies far more easily.
 
However I also completely agree with you that pure numbers without taking into consideration the overall business environment, competition, strategy is meaningless since the weaving as mentioned above needs to be tie up with the qualitative paramters as well.
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deepakpatel123
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Quote deepakpatel123 Replybullet Posted: 21/Dec/2011 at 9:03am
i agree with u all of points but its all about share market business ...
so fortune can also be a factor...
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chetank
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Quote chetank Replybullet Posted: 05/May/2012 at 11:30pm
true what you said....
ck
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respondvignesh
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Quote respondvignesh Replybullet Posted: 03/Jun/2012 at 12:57pm
Respected Basant sir,

It is a great privilege to interact with you. I would like to know how much CFA helps in doing equity research? I want to take a career in equity research. Is it good to spend time on CFA or instead do analysis of stocks during that time? which helps me to learn more? Please let me know how much does it (doing cfa) help than doing my own analysis? Since you are the best person to answer this question, i m asking this to you. I kindly request u to reply me sir. Is cfa mandatory for equity research and does it help me a lot in research??
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basant
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Quote basant Replybullet Posted: 31/Jul/2012 at 10:11am
If you are looking for a job you need a formak degree to back yourself up but if you want to do your own research than level 1 of Cfa with plenty of reading is good enough.

Edited by basant - 31/Jul/2012 at 10:13am
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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vedik
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Quote vedik Replybullet Posted: 01/Aug/2012 at 4:13pm
Good post however, I was wanting to know if you could write a little more on this subject? I'd be very grateful if you could elaborate a little bit more. Appreciate it!

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somu0915
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Quote somu0915 Replybullet Posted: 01/Aug/2012 at 6:40pm
Basantji - Can you refer some books / reference material for people coming from non-commerce background, so that they can analyse balance sheets .

CFA is a exhaustive program with many other subjects. If a non-commerce person like me wants to enhance his skills in the analyzing the balance sheet, what should he do?
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vijayM
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Quote vijayM Replybullet Posted: 02/Aug/2012 at 11:34pm
Sir,

which is better? MBA finance or CFA to make a career in finance, both for job/business and personal investment.
If a business does well, the stock eventually follows:Warren Buffett
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