Stock Pitch Camp
Stock Camp Topics of Discussion
I. What is investment research?
a. Role of analyst
i. What PM want
ii. How analyst compensated
iii. Communication: stock report and one-pager
b. How security valued?
c. How add value?
II. What is an interesting stock to study?
i. Interesting to work on
ii. Vehicle to talk about in interview
b. Don’t know if it is a good investment…until you do the work
III. WORK: pick a stock
a. Small-cap, liquid; price?
b. Growing or cheap
c. Data sheet
d. Yahoo Finance
IV. What want to know about stock?
a. Business activity, business model
b. Competitive landscape
c. Things getting better or worse?
V. WORK: read
a. IR site
c. Income statement
VI. LUNCH: share what you learned
b. Drivers to multiples
a. Forecast revenues, margins, earnings
b. Past trends continue at same rate?
IX. Target price
a. Target multiple
b. Target denominator
a. Prepare one-pager
b. Feel free to send to Scott (firstname.lastname@example.org)