Читать книгу Survival Kit for an Equity Analyst - Shin Horie - Страница 9

I plan to draw on my 33-year career as an equity analyst to offer anecdotes that illustrate why the intellectual challenge of equity analysis never gets stale, and why starting with some basic tools is so valuable. Repeatedly throughout my career I have moved into a different research environment that required me to look at a new landscape; whether this was being assigned to cover the capital goods industry in Japan in the 1980s or serving as the first Japanese analyst covering China H-share companies in the 1990s, the essentials were the same. What were the core characteristics of the industries and the sources of structural change? Who were the players and what was the distinguishing ‘personality’ of each? What were its earnings drivers and how were those changing against the industry backdrop? Finally, where did that mean the numbers were going and what were investors missing?