Quick take - been in private wealth for almost three years and it’s not so great. Want to break into equity research just like everyone else. Looking for recommendations on financial modeling books or other equity research books that would get me started in complex excel modeling / research report writing. I’ve heard wallstreet prep has some good stuff, but would rather teach myself. Thanks
Modeling --> Breaking Into Wall Street (M&I)
Value Investing --> The Intelligent Investor (Ben Graham), Margin of Safety (Seth Klarman), The Essays of Warren Buffett, You Can Be A Stock Market Genius (Greenblatt)
Industry Analysis --> Competitive Strategy (Michael Porter), Competition Demystified (Greenwald)
Valuation --> The Practitioner’s Guide to Investment Banking, M&A and Corporate Finance (Castillo & McAniff); McKinsey Valuation
Research Report Writing & Stock Pitching --> http://www.mergersandinquisitions.com/equity-research-recruiting/
Someone bookmark this post
Ignoring the time constraint of reading it, how would you rate security anlysis vs. intelligent investor?
I think Intelligent Investor is more about principles while Security Analysis is more tactical. I read parts of Security Analysis as well – never in its entirety, but still quite good. That said, I think the valuation books I suggested above are more current than Security Analysis, based on the types of companies that exist today.
In addition to what’s already been posted, Aswath Damodaran’s books are well regarded.
Hi Numi,
Sorry for asking a possibly silly question but these books cover more/different areas than what we learn through studying CFA curriculum, right?
I’ve got two recommendations for you: for reading and do your self check out macabacus http://macabacus.com/learn and for video based courses check out CFI http://courses.corporatefinanceinstitute.com/collections/capital-markets
Between those two you should have a good variety of reading based and/or video based. Up to you which you prefer
I know it is not related to finance but try reading A monk who sold his ferrari.
I posted this on a different thread, but it may be useful to you…all sorts of models (none attractive though):
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/spreadsh.htm
The Drunkard’s Walk. A fun and lively read about probabilities in everyday life.