Wall Street Research: Past, Present, and Future provides a timely account of the dramatic evolution of Wall Street research, examining its rise, fall, and reemergence. Despite regulatory, technological, and global forces that have transformed equity research in the last ten years, the industry has proven to be remarkably resilient and consistent. Boris Groysberg and Paul M. Healy get to the heart of Wall Street research-the analysts engaged in the process-and demonstrate how the analysts' roles have evolved, what drives their performance today, and how they stack up against their buy-side counterparts. The book unpacks key trends and describes how different firms have coped with shifting pressures. It concludes with an assessment of where equity research is headed in emerging markets, drawing conclusions about this often overlooked corner of Wall Street and the industry's future challenges.
"High quality investment research is critical for the efficient operation of any capital market. This is one way in which investment banks can unequivocally deliver constructive input as they redefine their role in society after the global financial crisis. However, as the authors deftly highlight, the business model for funding research has long been a challenging and rapidly evolving puzzle, mak
UBS AG
"Groysberg and Healy are the preeminent chroniclers of Wall Street, having amassed an unsurpassed treasure trove of history and knowledge from their decades-long pursuit of the personalities, institutions, and regulations that have made the industry what it is today. Wall Street Research explores potential business models and platforms for the continuing evolution of sell-side research. The import
CLSA Americas
"Full of institutional details that deepen our understanding of sell-side research, this book provides penetrating insights into the role that financial analysts plays in stock markets."
