Yes, I'm skipping to post two of the five discussions we had this week. To be honest, I wasn't intend to hide much for our own analysis but I didn't think they worth be putting here. Well, you can never expect EVERYTHING to be perfect and effective EVERYDAY, but this is where we desire to go.
Conclusion of discussion:
Today we had a informative discussion about what are the most important things to be noticed when reading company filings.
There were discussions about how negative Cash Flow from Financing (CFF) could indicate stock repurchase therefore a price pulled up, as well as how important asset structure and profit growth should be considered during the analysis.
I would also like to point out my vision on this although it's a little bit vague for some people. My idea was that everything "depends". The start point for analysts to read filings, they way we should read, and the focus point should be paid attention to, are all depend on what the company is.
I know what I said doesn't mean anything to someone, maybe not in our team. But there are so many analysts doing the "simple" analysis by applying a minor changed model from a industry such as manufacturing to retail. This is also the reason that I believe the good way to start a analyst career is to focus on one or two industries only.
How do you think?
Let me know.
Chang
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