⏰ 6:30 am: Wake up, track overnight news and market updates. Get ready for work
➡ 8:00 am – 10 am: Get in to work, research global news, local markets, as well as sectors you cover to check any developments that could impact your current positions. If no major events have happened impacting positions, as a junior analyst your goal is to identify 1-2 investment ideas for the week that you can pitch to your team. Select 2-3 firms to research and identify potential investment ideas; evaluate current positions (one long and one short). Review the valuation model for an existing portfolio company that a new junior analyst created.
➡ 10 am – 11 am: Meet senior analyst/ PM to discuss valuations and rationale you provided on undervalued or overvalued companies. Discuss assumptions and the key risk/ return metrics along with the target firm’s revenue growth, expenses, and CAPEX.
➡ 11 am – noon: As a junior analyst, you may use this time to research or fintetune models. Senior analysts may shift focus to talk to firms that they’ve invested in. How’s the business doing? Are they considering new product releases or a potential M&A as part of their expansion strategy? Does the company management agree with such decisions? Impact on earnings?
➡ 12 PM – 1 PM: Join a lunch meeting with the PM and the Tech sector head to discuss the day’s updates. They are keen on shorting a stock to cut losses while you try to convince them that a long-term hold will rake bigger benefits.
➡ 1 PM – 3 PM: Attend a sell-side conference or shareholder meetings to network with CEOs, and CXOs of publicly traded companies. Some of the companies we’re interested (or invested) in would be present. If these firms make any positive announcements, we can consider making bigger investments in them.
If no events, continue to evaluate an auto ancillary company that supplies to the defense sector. Plan meetings with their customers and counterparties for due diligence to supplement research, including investor presentations, 10-K and 10-Q reports to assess if they’re undervalued.
➡ 3:45pm - 6pm - Check market updates on Bloomberg to see if any events can impact existing positions (especially over 5%). Speak to traders for any major stock market updates. Get back to building the investment thesis you have been working on. Communicate with sell-side analyst on any new information about this target firm that the portfolio manager is keen to invest in although your concern is the technicals. You continue stress testing scenarios to assess outcomes.
A 12-hour day is fairly standard but if any market news hits your portfolio, then the day will stretch longer with management meetings to drive decisions on selling positions or retaining them based on the fund’s strategy.
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