#equity research analyst

[edunative]

Equity Research Analyst

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[valueadss]

Equity Research Analyst

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[aceinvestors]

Crude oil was struggling as the government across the economies were pushing renewable energy but we believe that oil  likely remains an important commodity/asset for many industries like power generation and distribution companies (Although the shift is going on), such as plastic, chemical companies, and many others for many years to come.

In the previous years also, Crude oil was struggling as the government across the economies were pushing renewable energy but we believe that oil  likely remains an important commodity/asset for many industries like power generation and distribution companies (Although the shift is going on), such as plastic, chemical companies, and many others for many years to come.

[jobaaj]

How to Building a career in equity research ?

Building a career in equity research requires a combination of education, skills, networking, and dedication. Equity research involves analyzing financial data and market trends to provide insights and recommendations on investment opportunities.

Here's a step-by-step guide on how to make a career in equity research:

Strong analytical skills

Financial modeling

Valuation techniques

Excel and data analysis tools

Industry knowledge

Join our 2 Days free workshop on Equity Research

Day 1 ( How to Build a Research Report From Scratch) 

Day 2 ( Basic Modules And Introduction )(Starting With Models)

Click here to register:

[cfacoaching]

Equity Research Training Classes in Indore | Maheshwari Institute of Careers & Research

Want to learn equity research? But don't know where to start? Maheshwari Institute of Careers & Research is one of the best equity research training classes in Indore. For more information, you can contact at 9644411558, 9826062744.

[finshiksha]

Equity Research Analyst Certification Course by FinShiksha

Our certification course in equity valuation aims to give you an introduction to the world of equity valuation, research & financial model building. It also gives an insight into key inputs into the valuation process, and various valuation methodologies. Know what you will learn with our course here - equity research analyst certification.

[stackslip]

During third-quarter earnings calls this month, analysts from Morgan Stanley and TD Bank took note of this potential profit-making escalation in conflict and asked unusually blunt questions about the financial benefit of the war between Israel and Hamas. The death toll – which so far includes over 8,000 Palestinians and over 1,400 Israelis – wasn’t top of mind for TD Cowen’s Cai von Rumohr, managing director and senior research analyst specializing in the aerospace industry. His question was about the upside for General Dynamics, an aerospace and weapons company in which TD Asset Management holds over $16m in stock. (...) “Hamas has created additional demand, we have this $106bn request from the president,” said von Rumohr, during General Dynamics’ earnings call on 25 October. “Can you give us some general color in terms of areas where you think you could see incremental acceleration in demand?” “You know, the Israel situation obviously is a terrible one, frankly, and one that’s just evolving as we speak,” responded Jason Aiken, the company’s executive vice president of technologies and chief financial officer. “But I think if you look at the incremental demand potential coming out of that, the biggest one to highlight and that really sticks out is probably on the artillery side.” That next day, von Rumohr assigned a “buy” rating to General Dynamics’ stock. Morgan Stanley’s head of aerospace and defense equity research, Kristine Liwag, took a similar approach to the conflict during Raytheon’s 24 October earnings call. “Looking at [the White House’s $106bn supplemental funding request], you’ve got equipment for Ukraine, air and missile defense for Israel, and replenishment of stockpiles for both. And this seems to fit quite nicely with the Raytheon Defense portfolio,” said Liwag, whose employer holds over $3bn in Raytheon stock, a 2.1% ownership share of the weapons company. “So how much of this opportunity is addressable to the company and if the dollars are appropriated, when would be the earliest you could see this convert to revenue?” Greg Hayes, Raytheon’s chairman and executive director, responded: “I think really across the entire Raytheon portfolio, you’re going to see a benefit of this restocking … on top of what we think is going to be an increase in the [Department of Defense] top line [budget].”

[rjzimmerman]

Excerpt from this story from Grist:

Billions of dollars in public money are beginning to flow to seven “hydrogen hubs” around the country — regional nerve centers for a potentially clean fuel that could someday rival solar and wind and cut carbon from the atmosphere. On July 17, California’s hub, a public-private partnership called ARCHES, became the first to negotiate an agreement with the Department of Energy to build out hydrogen power plants, pipelines, and other projects. 

But researchers and community advocates warn that unless the federal government’s so-called hydrogen earthshot has adequate safeguards, it could worsen air pollution in vulnerable communities and aggravate a warming climate. They’re also concerned that specifics of the emerging efforts remain stubbornly secret from people who live near shovel-ready projects.

That’s true even in California, a state that has declared a commitment not only to ambitious climate goals but also to environmental justice. 

“The people got left behind in this conversation,” said Fatima Abdul-Khabir, the Energy Equity Program manager at Oakland-based Greenlining Institute, an advocacy group. “It’s a massive step backwards.”

Hydrogen, a colorless, odorless gas, is the world’s most abundant chemical element. When it’s used in fuel cells or burned for energy, it generates no atmosphere-warming carbon emissions. That means it could power trucks and airplanes without spewing soot from a tailpipe or exhaust from an engine. Hydrogen could help steel plants and other heavy industries lower their carbon footprints. 

But stripping hydrogen molecules from water or methane to use as fuel can be expensive and complicated, and if that process relies on fossil fuels, it could actually prolong climate pollution. That’s not the only health risk: When even cleanly-produced hydrogen is blended with methane and burned, it can still dirty the air with toxic byproducts that contribute to lung-irritating smog. 

The nation’s hydrogen earthshot is a risky and ambitious bet. Congress created an $8 billion pot of money for the hub system. It also tucked nearly $18 billion in grants and incentives into the Inflation Reduction Act and the infrastructure bill. An uncapped federal tax credit for companies that produce hydrogen energy could cost the public at least another $100 billion. 

“There’s so much hype right now for hydrogen because everybody wants a piece of the pie,” said Dan Esposito, an electricity policy analyst at the nonprofit firm Energy Innovation. 

[nismexam]

Preparing for the NISM Exam: A Comprehensive Guide

The National Institute of Securities Markets (NISM) certification exams are essential for anyone looking to build a career in the Indian securities market. These exams are designed to ensure that professionals in the securities market possess the necessary knowledge and skills to perform their roles effectively. Whether you are a fresh graduate or an experienced professional, understanding the nuances of the NISM exam is crucial. This article aims to provide a comprehensive guide to help you prepare effectively for the NISM certification.

Understanding the NISM Exam

NISM offers a variety of certification courses covering different aspects of the securities market. Some of the most popular exams include:

1. **NISM Series I: Currency Derivatives Certification**

2. **NISM Series V-A: Mutual Fund Distributors Certification**

3. **NISM Series VIII: Equity Derivatives Certification**

4. **NISM Series X-A: Investment Adviser (Level 1) Certification**

5. **NISM Series XV: Research Analyst Certification**

Each certification focuses on a specific area within the securities market, ensuring that professionals have specialized knowledge relevant to their roles.

Exam Structure

The structure of NISM exams generally includes:

- **Multiple Choice Questions (MCQs):** Most exams consist of multiple-choice questions.

- **Duration:** Exams typically last between 1 to 2 hours.

- **Passing Marks:** The passing score varies, usually around 60% to 70%.

- **Negative Marking:** Some exams may include negative marking for incorrect answers.

Understanding the structure of the exam you are preparing for is the first step towards effective preparation.

Study Materials and Resources

Official Study Material

NISM provides official workbooks for each certification exam. These workbooks are comprehensive and cover all the topics outlined in the exam syllabus. It is advisable to start your preparation with these official resources as they are tailored specifically for the exam.

Reference Books

Apart from the official workbooks, several reference books can help deepen your understanding of the subject. Some recommended books include:

- **“Fundamentals of Financial Instruments” by Sunil Parameswaran:** A great resource for understanding financial instruments.

- **“Mutual Funds in India: Marketing Strategies and Investment Practices” by H. Sadhak:** Essential for those taking the mutual funds certification exam.

Online Resources

There are various online platforms offering study materials, mock tests, and video tutorials. Websites like Zerodha Varsity and EduPristine provide excellent resources for NISM exam preparation.

Effective Preparation Strategies

Understand the Syllabus

The first step in your preparation should be to thoroughly understand the syllabus. Each NISM certification exam has a detailed syllabus that outlines the topics covered. Make sure you are familiar with each topic and its weightage in the exam.

Create a Study Plan

A well-structured study plan is crucial for effective preparation. Divide your study time into different topics based on their difficulty level and importance. Ensure you allocate sufficient time for revision and practice tests.

Practice with Mock Tests

Mock tests are an excellent way to prepare for the NISM exam. They help you get accustomed to the exam pattern and time management. Regular practice with mock tests can significantly improve your speed and accuracy.

Focus on Weak Areas

Identify your weak areas and allocate extra time to those topics. Understanding your weaknesses and working on them can greatly enhance your overall performance in the exam.

Join Study Groups

Joining study groups or forums can be beneficial as they provide a platform to discuss and resolve doubts. Interacting with fellow aspirants can also provide new insights and preparation strategies.

On the Day of the Exam

Time Management

Time management is crucial during the exam. Allocate time to each section based on its weightage and difficulty. Make sure you don’t spend too much time on any single question.

Stay Calm and Composed

Maintaining your composure during the exam is important. If you encounter difficult questions, stay calm and move on to the next one. You can always come back to the challenging questions later if time permits.

Review Your Answers

If time allows, review your answers before submitting the exam. Double-check for any mistakes or unanswered questions.

Post-Exam Steps

After the exam, you will receive your results within a few weeks. If you pass, you will receive your certification, which is valid for a specific period, usually three years. Ensure you stay updated with any changes in regulations and renew your certification as required.

In case you do not pass the exam, analyze your performance, identify areas of improvement, and prepare to retake the exam.

Conclusion

The NISM Exam is a stepping stone for a successful career in the securities market. With the right preparation and resources, you can clear the exam and gain the knowledge necessary to excel in your profession. Follow the strategies outlined in this guide, stay focused, and approach the exam with confidence. Good luck!

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[jordannuni]

Jordan Nuni is a skilled professional in the hedge fund industry, currently employed at Xena Capital, a renowned multi-strategy hedge fund previously located in New York City and now headquartered in Miami Beach. Since November 2016, he has been instrumental in helping Xena Capital achieve appealing risk-adjusted profits using a methodical approach that merges fundamental models with tactical market tools. Nuni's proficiency spans across both equity and credit sectors, enabling Xena to provide clients with returns that are independent of traditional markets.

Before his time at Xena Capital, Mr. Nuni worked as an analyst on the investment team at Birch Grove Capital for a period of three years. During this tenure, his focus was on employing long/short strategies in equities, corporate credit, and structured credit. His duties included conducting quantitative and qualitative analyses, engaging in event-driven investments, and overseeing a substantial portfolio of structured credit assets.

Prior to his role at Birch Grove Capital, Mr. Nuni served as an analyst at WMD Capital, where he managed fixed income portfolios consisting of whole loans. His responsibilities at WMD Capital showcased his expertise in loan analysis, mortgage securitization, and real estate valuation.

Jordan Nuni pursued his education in business economics at the University of California, Santa Barbara. In his leisure time, he finds joy in playing golf and restoring classic Mustangs from the mid-60s.

Additionally, Jordan Nuni holds a position on the board of the Iron Horse Party, a organization that backs ALS Research and collaborates with the ALS Foundation in New York City. It is noteworthy that Xena Capital is a distinguished sponsor of this charity.

[mariacallous]

Just after 2 am Pacific time on Monday morning, several OpenAI staffers—including its chief technology officer, Mira Murati—posted in unison on X: “OpenAI is nothing without its people.” Sam Altman, who was dramatically removed as the company’s chief executive on Friday, reposted many of them. By then, Altman already had a new job. Satya Nadella—CEO of Microsoft, a major investor and partner of OpenAI—announced late on Sunday night that Altman and his cofounder Greg Brockman would be joining the tech giant to head a new “advanced AI research team.” Nadella’s statement seemed to suggest that others from the startup would be joining Microsoft.

By hiring Altman and Brockman amid the chaos at the top of OpenAI, Microsoft has managed to acquire one of the most successful management teams in artificial intelligence without having to buy the company—whose pre-chaos valuation was $86 billion.

“Satya now looks like one of the most epic kingmakers,” says Nathan Benaich, founder and general partner at Air Street Capital and author of the State of AI report.

At least three other senior researchers—Jakub Pachocki, Aleksander Mądry, and Szymon Sidor—have reportedly left OpenAI.

“The head and the arms and one of the legs [of OpenAI] have gone to Microsoft,” says tech analyst Azeem Azhar, author of the newsletter Exponential View. “This is an enormous opportunity for Microsoft because it gets to take Sam Altman and Greg Brockman and probably a large part of the leadership team, and many of the very best engineers and researchers.”

At Microsoft, Altman and Brockman will have access to huge amounts of capital and compute power, Azhar says, as well as the tech giant’s support to develop other parts of the AI tech stack, including chips and consumer electronics. Altman was reportedly trying to raise billions of dollars from investors for a new chip project in the weeks running up to his firing. Altman and OpenAI had also been linked to a hardware venture with former Apple head of design Jony Ive that was reportedly hoping to build the “iPhone of AI,” backed by Softbank’s Masayoshi Son.

“I’m sure [Microsoft] will give Sam the leeway to go up and down the stack,” Azhar says. “Microsoft itself is developing its own chips for AI. Well, Altman’s group can probably help with that now, and they will be developing consumer electronics like surface computers and so on. Sam can start to head into that direction now through this group.”

Microsoft shares slipped on Friday as news of the problems at OpenAI spread. OpenAI’s technology has been integrated into a number of Microsoft products, including its Bing search engine, and the two companies’ fortunes had been seen as deeply intertwined. The news that Altman will be moving to the company is likely to restore confidence, analysts say.

“[Microsoft] hired this key asset and now he will oversee OpenAI from Redmond along with Nadella which is music to the ears of investors,” Dan Ives, senior equity research analyst covering the technology sector at Wedbush Securities, said in an email. “If Microsoft lost Altman he could have gone to Amazon, Google, Apple, or a host of other tech companies craving to get the face of AI globally in their doors. Instead he is safely in Microsoft’s HQ now leading the company’s key AI efforts.”

In an increasingly competitive AI industry, this is more than just steadying the ship after a chaotic few days for Microsoft. “Microsoft would never have thought they would get this level of talent, right? And especially at the senior level,” says Imran Ghory, general partner at VC Blossom Capital.

What it means for OpenAI isn’t clear, but the weekend’s events have also punctured a pervasive myth that the company’s lead in the industry is bulletproof. “The weekend’s chaos has shown us that no one is immune from the laws of corporate physics. Considering Sam’s centrality, it’s the most baffling decision from an AI lab I’ve witnessed,” he says. “People who are investing in OpenAI took the view that it was invincible. History teaches you that no one is invincible."

[allthebrazilianpolitics]

Brazilian retail sector faces challenges amidst rising debt and online competition

Brazilian retailers are grappling with a challenging landscape as they contend with mounting debt and increasing competition from online giants like Amazon. A complex combination of factors, including high debt levels for both retailers and consumers, rising yields, and a recent accounting scandal at Americanas SA, has created a challenging environment for the retail sector in Brazil, Bloomberg reported. 

According to the report, Thiago Macruz, retail analyst and head of Brazil equity research at Itau BBA SA, described the current state of the industry, saying, "We're talking about maybe the worst moment for Brazil retail since I started covering the sector a decade ago. It has been super-challenging for retailers, especially those that cater to lower-income customers." 

The retail industry in Brazil is already exhibiting cracks, with established retailers facing significant hurdles. Casas Bahia, a well-known retail chain, had to issue equity at a substantial discount to manage its debt load. Similarly, Tok&Stok, a furniture retailer, announced a debt restructuring of around 350 million reais and received a capital addition of 100 million reais after failing to meet some obligations. Other retailers, such as Magazine Luiza and C&A Modas, have seen risk premiums on their local bonds increase. S&P Global Ratings noted that Chilean retailer Falabella, which operates in Latin America, could see a downgrade to junk status due to declining revenue. 

Continue reading.

[amarantine-amirite]

Impostor Syndrome

The following is an interview that came from the last issue of Divergent magazine before the failure of MyntBank.

It's a well-known fact that autistic people struggle with job interviews. During interviews, an autistic person must mimic a neurotypical person all the time. Hiring managers watch for signs of dishonesty, which sometimes look like symptoms of autism.

Many argue that job interviews inherently select against autistic people in favor of neurotypicals. Some people go as far as to say that any autistic person that gets a job after completing a successful job interview was almost always hired by accident. Those who disagree with this theory argue you don't need to mimic a neurotypical that much when you already have the job. You just need to mimic part of the time. If you do a good enough job, you don't have to mimic a neurotypical at all. Coworkers will put up with your weird behavior just because you're good at your job.

Today, we're talking to Judith (not her real name), a 24 year old college graduate on the spectrum who had accidentally been hired by MyntBank on two separate occasions.

Divergent: Can you describe the interview process for MyntBank?

Judith: I got my job at MyntBank through a new grad rotation program. Two minutes before the scheduled interview time, the person who contacted me with the interview information told me her colleague will do it instead of her, but he is up to speed. Right out of the gate, he says that we have to do it one way due to an unstable internet connection. He talked nonstop for precisely one hour.

He referenced news stories that people wouldn't talk about after a few weeks that were at least 3 months old. He targeted his speech not to me, but to a large audience. I asked if it was a recording and then I signed off.

I must've done something right because I got the rotation job. They didn't even ask for my transcript.

Divergent: What was the internship like?

Judith: My rotation began with Business Intelligence for Equity Research, next I worked in ML Engineering for Business Banking, and finally, Data and Analytics for Derivatives. I learned something very important: capital markets executives view ML engineers as smart, data scientists as lazy, and business intelligence as complainers.

Now, you would think that capital markets executives have respect for data scientists because we're the ones uncovering fancy new ways for the Bank to make money. Well, you would also be wrong. They don't really understand us. We exist outside the hierarchy of analyst, associate, and managing director, but at the same time are paid at the same echelon as the people high on the food chain.

Data science is not a job that has a lot of fires. If anything, you start the fires that the ML engineers and risk managers have to put out. Everybody thinks that scientists do nothing because they don't have to hustle.

The C-Suite people brag about working 60, 70, or even 80 hours a week. They think that those who aren't working 75 hour weeks are lazy. They are diametrically opposed to working smarter instead of harder. Good luck getting them to understand that the mandate for a data scientist is to follow the evidence where it leads and think about stuff. The work of a data scientist suffers if they have to hustle.

Divergent: How did you go from your internship to a full time position with Mynt?

Judith: During my data analytics rotation, I got a term project requiring me to look for signals representing unusual market behavior. The Bank prohibited anybody from using pip install on their machines because a disgruntled employee in the back office used pip install to load libraries that they use to build a virus that crippled the KYC system. Getting rid of pip install meant that nobody could use Python for their work anymore. Given that Python is the coding lingua franca of the finance world, this decision would spell disaster for the organization.

Because the Bank got rid of pip install, I had to write my own imbalance sampling algorithm to finish the work on my project. I implemented it in such a way that it had a linear run time. I deployed the imbalance sampling algorithm for the first time right before a long weekend. It took 72 hours to train the model I was working on, which meant my computer was running all weekend. Upper management interpreted that as me burning the midnight oil over a holiday weekend.

I got invited to a lunch interview with the head of the data analytics department. They considered me for a role with the signal integration working group. Lunch included some salad and mashed potatoes with peas mixed in, supposedly to "test the emotional maturity of candidates." Even though I got very upset about the peas touching the potatoes, I still got a full time job with that group.

Divergent: Was it easier to manage your autism during your internship or during the full-time job?

Judith: A month into my new job, they came up with a new rule requiring masks on zoom calls. The rationale they gave us was that employees feel there is less discrimination between nice looking versus bad looking people. Wearing a mask puts video call participants all on the same level.

There's a problem with that. Masking on zoom calls robs employees ability to read lips. I have a disability that impairs my ability to process spoken language. We don't have captions on our zoom calls because captioning introduces its own privacy concerns as the video conferencing system we used at the time records dialogue to generate the captions.

I am far from the only person who has this issue. That working group had seven people, three of them are deaf, and the other four (myself included, by the way) had neurological disabilities where they need to see the mouth for communication.

I keep the "I'm having dental work done" in my pocket for skipping meetings . It's perfect. Nobody questions it and everybody can relate to it. I used that excuse for the first time, but I didn't get the reaction I expected. "Stop eating so much crap".

I couldn't understand what anyone was wearing because everyone was masked and there were no subtitles, so I accidentally agreed to this signal processing project where I had to decompose time series of alternative indicators for a given market (in this case, the derivatives market) into constituent signals, overlay the results against that of a synthetic best or worst case scenario, and develop a modeling strategy to predict whether the current picture would evolve into a good or bad scenario.

It was interesting, but it raised a lot of questions that require a lot of labor to get the data to answer them and you don't always know whether or not you've gone down a rabbit hole. Usually, you can surmise when you're going to go down a rabbit hole before it actually happens, but you can't do that here because you don't know what you don't know. It was also a really sensitive project. If you end up down a rabbit hole and out of sight of the main idea, it has the potential to be catastrophic.

Divergent: How do they find out they hired you by mistake not once, but twice?

Judith: I had to present my results on a surprise call. I couldn't for the life of me explain my analysis methods to the banking regulator. If you struggle to explain your analysis method to the regulator, you're cooked. Their first inclination is to look for signs of dishonesty.

Regulators don't like modeling strategies that involve lots of steps. They don't like stuff that's poorly explained. They really hated my explanation of my modeling strategy because it sounded suspiciously like market manipulation.

The bank got fined $14 billion that they had to pay by close of business the following day. They didn't pay up. It takes their billing department in Cameroon 18 months to pay for stuff and that includes fines.

After they finally got that fine paid, they decided that the whole debacle was my fault. They called me into this meeting with a bunch of executives. They had the CEO at one under the table and me at the other, and all of them glared at me. It was pretty horrifying.

They said they tried to fire me but it didn't go through. The head of human resources looked into it a little bit further and it turned out that I have been hired by accident for both the internship and the full-time role. the head of the internship program spoke up and said I accepted the offer of employment before the computer glitch that sent out the letter was rectified. The head of the data analytics department admitted to hiring me because, as he put it, "I could only remember her name because she caught food in her boobs."

Divergent: Have you been able to find a job since then?

Judith: Not really, no. I've been working with an employment counselor, applying to whatever jobs I can find, and I'm struggling to get a callback. I don't know if it's because the people at Mynt have blackballed me or if the market dried up. I hope I get something soon.

[jobaaj]

Becoming a professional in equity research requires a combination of knowledge, skills, and experience. Here are some steps you can take to enhance your expertise and become a pro in equity research:

Develop a Strong Foundation: Start by acquiring a solid understanding of financial concepts and principles. Familiarize yourself with accounting, financial statements, valuation techniques, and investment analysis. Consider enrolling in finance or accounting courses or pursuing a degree in finance or a related field.

Gain Practical Experience: Practical experience is crucial in equity research. Look for internships or entry-level positions at financial institutions, investment banks, or asset management firms. This will provide you with hands-on exposure to real-world equity analysis, research processes, and industry dynamics.

Expand Your Knowledge: Stay up to date with the latest industry trends, market developments, and economic factors. Read financial news, research reports, and industry publications regularly. Develop a deep understanding of the industries and sectors you are interested in analyzing.

Master Financial Analysis: Develop your financial analysis skills by studying and analyzing

companies' financial statements, including income statements, balance sheets, and cash flow statements. Learn how to interpret key financial ratios and indicators, and understand their implications on a company's performance and valuation.

Learn Valuation Techniques: Become proficient in various valuation methodologies used in equity research, such as discounted cash flow (DCF) analysis, relative valuation (comparable company analysis), and market multiples. Practice applying these techniques to analyze and value different companies.

Enhance Your Analytical Skills: Sharpen your analytical abilities by working on case studies, financial modeling, and scenario analysis. This will help you develop the ability to critically analyze complex data, identify trends, and make informed investment recommendations.

Utilize Research Tools: Familiarize yourself with research tools and software commonly used in equity research, such as Bloomberg, FactSet, or Capital IQ. These tools provide access to extensive financial data, news, and research reports, enabling you to conduct in-depth analysis efficiently.

Network and Learn from Experts: Engage with professionals in the field of equity research through networking events, industry conferences, or online communities. Connect with experienced analysts or mentors who can provide guidance, share insights, and help you navigate your career path.

Pursue Professional Certifications: Consider obtaining industry-recognized certifications like the Chartered Financial Analyst (CFA) designation. The CFA program covers a broad range of topics relevant to equity research and is highly regarded in the finance industry.

Continuously Learn and Adapt: The field of equity research is dynamic, so it's important to keep learning and adapting to new trends and technologies. Stay curious, explore emerging sectors, and embrace lifelong learning to stay at the forefront of the industry.

Becoming a pro in equity research requires dedication, persistence, and continuous learning. By building a strong foundation, gaining practical experience, and honing your analytical skills, you can position yourself for a successful career in this exciting field.

You Can attend a free workshop on Equity Research organized by Jobaaj Learnings.

Even though you are a student from any background or a working professional, Equity Research has become a must have skill in resumes and will give you a competitive edge in the job interview

Click here to register for free workshop:

[msclaritea]

How Wall Street bought single-family homes and put them up for rent

Institutional investors may control 40% of U.S. single-family rental homes by 2030, according to MetLife Investment Management. And a group of Washington, D.C., lawmakers say Wall Street needs to back away from the market.

"What we're saying is don't have private equity buying up single-family homes," said Rep. Ro Khanna, a Democrat representing California's 17th Congressional District. Khanna is the lead author of the Stop Wall Street Landlords Act of 2022. "What's outrageous is your tax dollars are helping Wall Street buy up single-family homes," he said in an interview with CNBC.

The single-family rental industry got its start with government backing in the fallout after the 2008 financial crisis. "It was that rare opportunity that attracted the institutions to build a portfolio out of these foreclosed properties," said Steven Xiao, an assistant professor of finance and managerial economics at the University of Texas at Dallas.

Since the early 2010s, Tricon Residential, Progress Residential, American Homes 4 Rent and Invitation Homes have each bought thousands of homes. They've also added to the housing supply in some cases with built-for-rent communities.

Some of these companies are financed by private equity firms such as Blackstone and investment managers such as Pretium Partners.

"It's almost a captive market," said Jordan Ash, director of labor-jobs and housing at the Private Equity Stakeholder Project. "They've been very explicit about how people are shut out of the homebuying market and are going to be perpetual renters."

These calls come after fierce housing inflation hit many Sun Belt states, including Texas, Florida and Georgia, according to the National Association of Realtors.

The prices in some Sun Belt markets have outpaced national figures for rent inflation, according to research compiled by Zumper for CNBC. Between January 2020 and January 2023, rents for a two-bed detached home increased about 44% in Tampa, Florida, 43% in Phoenix, and 35% near Atlanta. That's compared with a 24% increase nationwide.

Industry advocates argue that they do not control enough market share to dictate prices in any market. Large institutions owned roughly 5% of the 14 million single-family rentals nationally in early 2022, according to analysts.

By 2030, the institutions may hold some 7.6 million homes, or more than 40% of all single-family rentals on the market, according to the 2022 forecast by MetLife Investment Management.

In the short term, however, some companies may retreat from the real estate market as correction concerns mount. "You will see some selling by us," said Jon Gray, Blackstone's chief operating officer, in a December 2022 interview with CNBC.

Included in this should be the billions of dollars worth of property bought by COS, most of which sits empty and the 1000s of acres Bill Gates has been purchasing. All of this to put a squeeze on home and property buyers.