Investment Management – Equity Analyst

Topics

• Apply a top-down research framework, including an assessment of the macroeconomic environment, industry outlook, company analysis.
• Utilize analysis to build the qualitative foundation of an investment thesis.
• Identify and interpret the evidence that supports a thesis, surfaces key risks, and informs valuation assumptions.
• Judge when a dividend discount model (DDM) is appropriate, and when it is not.
• Organize and normalize historical financial and operating data and derive the metrics that discipline a forecast.
• Translate documented assumptions into explicit-period financial projections and free cash flow to the firm (FCFF).
• Build and justify the discount rate and terminal value; convert enterprise value to equity value and an implied share price.
• Run sensitivity and coherent Base/Upside/Downside scenarios, integrate the methods, and formulate a recommendation.
• Continuation of previous week