Survival Kit for an Equity Analyst: The Essentials You Must Know - Hardcover

Über die Autorin bzw. den Autor

SHIN HORIE is cohead of Global Single-Name Research (Equity and Credit Research) for Goldman Sachs and is a board member of Goldman Sachs Asia LLC. He is the former director of the Japan Equity Research Department and the former manager of the Korea and Taiwan Equity Research Departments.

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Praise for Survival Kit for an Equity Analyst

“Shin Horie has come up with an excellent guidebook for young equity analysts, providing both an overall investment framework and personal episodes useful for professional development. I believe his book would also be valuable to private equity professionals, for valuation analysis, developing investment thesis and analyzing risk factors. The highest recommendation for any professionals engaged in investment activities.”

―John Ehara, Co-founder, Unison Capital

“The book is very clearly written and well organized. It is bursting with practical insights that come from decades of experience combined with analytical understanding. Shin has distilled an extraordinarily complex process into an easy-to-follow manual that is valuable for new and seasoned analysts alike. The checklists at the end of each chapter provide useful summaries, making it easy for someone to go back and quickly find what they are looking for after reading it. The book will become the standard for equity analysts for years to come.”

―Randall S. Kroszner, Deputy Dean for Executive Programs, Norman R. Bobins Professor of Economics, The University of Chicago Booth School of Business

“A practical how-to from someone who was one of the best himself and who supervised the best in the business for over two decades. A rare look inside how the process really works rather than the standard clichés.”

―Steve Strongin, Former head of Global Investment Research, Goldman Sachs

“This book elaborates on how experienced equity analysts analyze industries and companies with frameworks and structure. It is highly recommendable not only for financial professionals but also for senior corporate managers in order to understand how equity analysts and investors are assessing strategies, financials and valuations of companies in practice. His personal anecdotes are also a quite enjoyable read.”

―Tetsuo (Tom) Tsuneishi, Chairman of the board, Tokyo Electron Ltd.

Aus dem Klappentext

In a time when traders following passive management and quant strategies have rapidly increased their weights in total assets under management in equities, it is more important than ever for active equity fund managers to shift to more concentrated and longer-term bets in their portfolios.

Survival Kit for an Equity Analyst: The Essentials You Must Know delivers a fascinating window into the world of company analysis. Drawing on author Shin Horie’s decades of experience as an equity analyst, the book offers readers a practical survival guide to succeeding as an equity research analyst and countless expert tips on how to discover, analyze, forecast, and evaluate public companies.

The author presents the book in a narrative format, providing analysts with a resource that neither stand-alone financial theories nor business textbooks can match. It offers analyses at the industry level, from a global perspective, and with a particular focus on making appropriate adjustments when covering emerging market companies. Readers will learn a method for obtaining a holistic understanding of a sector’s makeup, competitive landscape, and revenue and cost drivers before turning to individual firms and their place in that sector.

Survival Kit for an Equity Analyst explores the background of a basic process flow for company analysis and valuation, gives guidelines for analyzing potential earnings drivers in major industries, and explains how to dig deep into a company’s background to find actionable intelligence that doesn’t reveal itself with a cursory analysis of a financial statement.

Survival Kit for an Equity Analyst: The Essentials You Must Know is a singular resource for entry-level analysts at sell-side research houses, asset management companies, investment banks, private equity firms, and corporate strategy divisions within companies or management consultancies.