Equity/Credit security analysis - (from hopeful L III passer management, security, research, hundreds, current

Wasteoftime

Gents,
I think I have had it at my current job. As in, I don’t think its what I want to do with my life (manager selection for major asset management firm). I’ve been doing this more or less for almost 5 years now and have found it to be totally unrewarding.
After interviewing hundreds of fundamental equity/credit managers, I am convinced I could do at least a passable job as an equity/credit analyst. Its not rocket science, just deep research and heavy excel modeling (I am an excel master).
Two questions - 1 - what do you think is a good sector to get my feet wet? I was thinking consumer discretionary. Maybe mid and large cap. 2 - is there anywhere I can get my hands on a generic sell side model? Thanks for any advice. Thinking I passed level III on the first try in June. Here’s hoping.

infinitybenzo

Finally got my hands on a legit sell-side model from a major bank for one of the companies I am researching.
May take a while to deconstruct it (the 6 tabs and 30 hidden ones)…..

hw0799

For the incremental dollar going into equity, I hypothise that overtime, share of index based quant strategies will increase thus decreasing pool of available money for active investments. Decreased pool of money lead to decreased need of demand for those skills, making it harder for someone to stay in and outperform. Why chase a dying art?

anish

obviously - I’m saying the basics aren’t as hard as everyone makes them out to be. You start at the basics of modeling out a company and doing as much research as you can. What I’m saying is I know I have the skills to do that.
The “art” piece, hopefully, comes with time, alot of time.  If after a while it doesn’t and I am just horrific, then I could always go back to my current profession with alot more insight.
My point is, I want to at least give it a shot while I am still ‘relatively’ young. (early 30’s).
I’m not saying “I’ve listened to hedge fund managers, I bet I could do this, It can’t be that hard…”

cfalevel2011

Prof Damodaran’s website has ton of models for equity analysis. http://pages.stern.nyu.edu/~adamodar/ My also work involves interviewing managers and doing asset allocation with real money for high networth and institutions. If making a switch, I will not compromise on pay. I would just go for as many interviews as I get my hands on and let the PM’s decide. As someone suggested, if you have put your own money online and have built some models around, that will be  a great start. Buying low and selling high, is how I have seen most money being made.
I feel that investment management industry, in terms of people/AUM ratio, in general is shrinking and generally not the best spot to be when your talent is not as much in demand.

king_kong

Have seen both. As well as comparisons between both (which are here on AF too).  Not sure which way to go for now…

cityboy

have you seen breaking into wall street? i’d recommend it especially if you’re looking for better pricing without sacrificing quality.

OmarAdnan

Just found out about the wallstreetprep financial modeling courses. Pricey but sounds perfect.

joehogue

Pistolpt…just curious where you’re at making 100k doing manager selection? Consulting or FoF? Feel free to email jdaudi898@gmail.com.

Houjichasan

Numi agreed with you, but he also gave better and more actionable advice about what to work on if the OP really wants to go this route.  That’s the reason you feel persecuted.  You seem to enjoy delivering the bitter pill.  Numi tries to soothe it, provide context, and make it go down easier, which is much more appreciated.
But don’t worry, there are people who are much worse on that score.  I don’t sense that there’s a true posse that’s out to get you.