Equity Research Analyst Sell-side/Buy-side business model overview Sell-side/Buy-side analyst Objectives • Idea generation through content generation • Support sales and trading with idea generation • Be recognized by II Output • In depth analysis of companies - Initiation Reports, Sector Reports • Updates when events occur - Earnings Updates, Macro events • Outlook pieces, Industry Primers • News reports, Comp sheets Challenges a. Accuracy of data - Incorrect data is loss of reputation b. Idea generation (internal and external) – Generate alpha in a competitive market c. Time – Time spent on analysis should be > Time spent for data gathering d. Relevant and timely news – Beat the street/ Sector tracking 2