NBA 5220 - Equity Investment Research and Analysis

Spring. 3 credits. Letter grades only.

Permission of instructor required. Enrollment limited to: non-Johnson School students. Video summarizing course can be viewed here.

To apply: View video and submit 1) a transcript, 2) a resume 3) a paragraph or two on why you want to take the course and 4) three preferred sectors in order of preference (Tech, Financials, Industrials, Healthcare and Consumer) to Scott Stewart (sds58@cornell.edu). Co-meets with NBA 4120 .

S. Stewart.

This course is an introduction to the theory and practice of equity research and is similar to that provided to aspiring analysts, as apprentices, in buy-side investment firms. The course provides a comprehensive framework for analyzing equity securities and developing formal target prices and BUY/SELL/HOLD recommendations. Each student defines an industry to study and prepares an “industry review.” Each student analyzes in detail one stock in the industry and prepares a stock report. A live portfolio is invested in late March with student picks. Topics include the research process, analysis strategies, valuation techniques and portfolio construction methods. Templates, examples and detailed feedback on draft reports are provided. Students should be prepared to conduct rigorous, creative research based upon their own work and insights.