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In order to remain profitable, Wall Street firms have focused on big-cap stocks to generate highly lucrative investment banking deals and trade profits, but also face the daunting task of cutting costs. Those companies that are likely to provide the research firms with sizable investment banking deals are the stocks that are determined worthy of being followed by the market. The stock's long-term investment potential is often secondary. Other research is filling the information gap created by Wall Street.
Independent research firms and boutique brokerage firms are providing research on the stocks that have been orphaned by Wall Street. This means that independent research firms are becoming a primary source of information on the majority of stocks, but investors are reluctant to pay for research, because they don't really know what they are paying for until well after the purchase. For more reasons to do your research read: The ironic thing is that while research has proven to be valuable, individual investors do not seem to want to pay for it.
This may be because, under the traditional system, brokerage houses provided research in order to gain and keep clients. Investors just had to ask their brokers for a report and received it at no charge.
A good indicator of the value of research is the amount institutional investors are willing to pay for it. Institutional investors typically hire their own analysts to gain a competitive edge over other investors.
Although, spending on equity research analysts has significantly declined in recent years. Institutions may also pay for the sell-side research they receive either with dollars or by giving the supplying brokerage firm trades to execute.
Fee-based research increases market efficiency and bridges the gap between investors who want research without paying and companies who realize that Wall Street is not likely to provide research on their stock.
This research provides information to the widest possible audience at no charge to the reader because the subject company has funded the research. It is important to differentiate between objective fee-based research and research that is promotional.
You pay a doctor not to tell you that you feel good, but to give you his or her professional and truthful opinion of your condition. Legitimate fee-based research is a professional and objective analysis and opinion of a company's investment potential. Promotional research is short on analysis and full of hype. Companies that engage a legitimate fee-based research firm to analyze their stock are trying to get information to investors and improve market efficiency. In January , NIRI issued a letter emphasizing the need for small-cap companies to find alternatives to Wall Street research in order to get their information to investors.
For more information on fee-based research, read Fee-Based Research: The Good, the Bad and the Ugly. A company does not want to be tarnished by being associated with unreliable or misleading research. Similarly, a research firm will only want to analyze companies that have strong fundamentals and long-term investment potential. Research in Bull and Bear Markets In every bull market, there are excesses that become apparent only in the bear market that follows.
Based on the complete study of the companies and sector wise analysis of banks, leading banks in private and public sector –ICICI Bank,SBI Bank, YES Bank and also giving recommendation on the for “Buy or Sell or Hold” by analyzing the fundamental and technical’s of the company.5/5(18).
The purpose of an equity researcher is to provide insight and detailed analysis into a company, entity or sector and this information is then used by investors to decide how to allocate their funds and by Private Equity firms and investment banks to value companies for mergers, LBOs, IPOs etc. The Financial Services equity research team maintains coverage on nearly companies spanning the four key sectors of banking, capital markets, insurance, and specialty finance. The majority of the companies under coverage are in the banking sector; our coverage of this sector is among the broadest in the U.S. and includes large-cap multinational financial institutions and small-cap community banks .
Wholesale banking - Loans to Mid and Large corporate (Working Capital loans, Project finance, Term loans, Lease Finance) Treasury Operations - Investment in Equity, Derivates, Commodities, Mutual Funds, Bonds, Trading and Forex operations Other Banking Businesses - Merchant Banking, Leasing business, Hire purchase, Syndication services etc. Porter’s 5 forces analysis on banking sector . Investment Research- Equity Research (Banking sector) Equity Research – Associate Analyst.