Equity Research
The active equity strategies of European managers are at significant risk.
Mary Jane McQuillen believes ESG concerns are central to, not separate from, the investment decision-making process.
As research coverage stagnates globally, Europe sees a MiFID II blip.
James J. Valentine, CFA, shared his 11 rules for equity valuations and setting price targets.
Reading obscure financial information may look and feel like productive work, but most of this content has little chance of leading to better results, says Robert Martorana, CFA. So portfolio managers must learn to read fast and quickly detect nonsense.
Rumors of active management's demise are greatly exaggerated, AthenaInvest's C. Thomas Howard tells Jason Voss, CFA, and he has the evidence to make his case and the tools to help change active management for the better.
Changing conditions impair the signal-to-noise ratio. Investors should commit more time to looking for deeper explanations for market behavior.
Is an analyst with prior industry experience more likely to be on target with his earnings forecasts and stand a better chance of being named to Institutional Investor magazine’s All-America Research Team? In a word, yes. At least that was the conclusion of a recently published study which examined the biographical data and earnings estimates of 2,590 analysts over a period of nearly three decades.
Increased scrutiny of securities analysts typically follows in the wake of widespread financial turbulence. This time, it seems, is no different.
A recent study designed to decipher the “black box” of sell-side analyst decision making sheds new light on the driving forces behind two important outputs of their work: earnings estimates and stock recommendations.