It is unlikely your career path will be linear. You are likely to encounter a zig-zag or two, which is exactly what happened to Matthew Delly on his way to becoming an equity research analyst.
Our guest today is Matthew Delly. Matt began his career as a Junior Portfolio Analyst with Transamerica Investment Management. Although he enjoyed the work, he had to make a detour with National City Mortgage Lending as a Quantitative Analyst. Matt ultimately made his way back into equity research and is now a Senior Equity Research Analyst and Partner with Cleveland Research Company, where he covers the global consumer, retail and sourcing industries.
Listen for two key lessons from this conversation:
- Be open for the zig-zags in your career: even if you have an ultimate goal, like Matt did, you may make a few detours along the way. Stay focused on the goal, but be open to different experiences and learn from them. These experiences will show you a different side of business and a lot about people and leadership.
- Selling, communicating and networking: listen for the number of times Matt addresses these skills. His title is equity research analyst – you would think it is all analytical – but there is so much more to it than that.
In this episode:
- Matthew Delly’s career path to becoming a sell-side equity research analyst
- Sell-side research versus buy-side research
- The role of buy-side research within an investment management firm
- Why career detours can be great learning experiences
- Day to day activities of an equity research analyst
- Who the clients are in equity research
- The evolution of the industry over the past 10 years
- Why the number of independent research firms has risen dramatically over the years
- The impact of Regulation FD on the equity research industry
- The skills needed most as a research analyst
- Who a research analyst interacts with to understand a business
- Humility and the ability to admit you’re wrong
- How equity research teams are organized
- The opportunity for people who are intellectually curious and are skilled communicators
- Where you can go to learn about equity research as a career
- Developing your own personal board of directors
Music by Elijah from NOMADS