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Originally Posted by Unregistered
Dude whatever gave you the idea that that sell side analysts do "rigorous analysis" on the companies they research?
Have you even bothered to ask your remissier to send you samples of analyst reports before? As a CIPMS and MS Financial Engineering professional, I am qualified and will tell you >90% of their analyses are marketing junk mail.
These guys mostly target retail investors & strict %AUM pension fund managers, no other fund manager or M&A specialist will take their recommendations seriously.
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to be honest, large institutional funds e.g.
Gic, blackrock, henderson do make use of sell side research to generate trade ideas, not necessarily follow blindly 100%.
some sell side research are quite good and can be found in top tier banks.
the only buyside funds who do not make use of such sell-side are algorithmic/quantitative funds managed by phds as they already have their rocket science recipes to print money. The other type is private equity funds and activist funds, who conduct their own research