been saying this for a while.
Definitely agree that better aggregation and analysis of data is going to shrink the number of ER analysts needed. That said, I don’t see ER completely dying out, but rather quants becoming more complimentary to the whole process. For now, there is simply no way to bake into an algorithm what a CEO said at a lunch, how a certain product looks and feels to a consumer, etc… These things still require human judgment.
For those entering the field, and I would probably extend this to all jobs, having some programming and better math skills will become more necessary.
it’s been a slow moving massive shrinking. been going on for a decade+ now
That’s what they said after season 5 of the TV show, but George Clooney really carried the series for another 10 years.
I feel like there’s a new thread proclaiming the death of equity research every 4-6 months. now 7 years later, it still happens
ER report are ridiculous now, feels like it’s one guy writing all the original stuff while 10 lawyers writing all the compliance paragraphs taking up 80% of the report.
^its all junk. 99.9999% of it is garbage.3
matt levine had a good write up about it this morning.
its dying fast.
im taking my time on my ride
+1 on Levine