Writing Securities Research (eBook)

A Best Practice Guide

Jeremy Bolland (Autor)

eBook Download: EPUB

2010 | 2. Auflage
350 Seiten
John Wiley & Sons (Verlag)
978-0-470-82696-6 (ISBN)

Infos

The book highlights the major risks that securities analysts (and
other securities professionals) face. The various laws, rules and
regulations that securities analysts are subject to are broadly
split into three categories: research-specific rules and
regulations; market-wide laws; and society-wide laws and customs.
The risks that arise out of these various levels of rules and
regulations, insofar as research analysts and other securities
professionals are concerned, include conflicts of interest, fair
distribution/front-running of research, insider trading, spreading
of rumours, not highlighting investment risks (including corporate
governance issues), as well as defamation and copyright issues.

We see that if an analyst puts a company in play, a regulator
would instantly assume that the analyst is trading on inside
information (especially if the information turns out to be true) or
is spreading a rumour (especially if it turns out to be false).
However, we also see that there is a third option - that the
analyst might just have come to his or her conclusion through some
good research based on verifiable facts and reasonable
assumptions.

Definitions of research from around the world are examined.
After all, research is generally defined by its content, not by the
author's job description. As such, non-Research securities
professionals such as brokers and marketers of research as well as
investors, journalists and even bloggers and twitterers need to
understand what constitutes "research" so that they
don't fall into the regulators' purview.

As regards the risks to investment views that analysts need to
highlight to their investors, the book not only examines economic
and financial risks but also examines corporate governance issues
such as executive compensation, equal treatment of shareholders,
related-party transactions and risk management.

To demonstrate the risks that analysts, securities professionals
and investors face, the book draws on many cases and examples from
around the world, including many from the global financial crisis
of 2007-2009. From these cases we see how penalties for those
involved in the securities markets have become more serious over
the years. They range from fines to imprisonment, and even to
execution in some markets. To give a light-hearted angle, many of
these cases are accompanied by "Alex" cartoons.

Autor

Since writing the first edition of Writing Securities Research: A Best Practice Guide, Jeremy Bolland has been invited regularly to address CFA societies on the risks that their members face as chartered financial analysts. He has also addressed audiences of regulators, lawyers, and law students on the subject. Jeremy has over 25 years of experience in the world of investments, and has worked in London, Tokyo, and Hong Kong. For the past 16 years he has worked in securities research at global investment banks, including a five-year stint at Morgan Stanley, five years as a director at ING/ING Barings, and most recently five years at HSBC where his final role was Head of Training for Global Research. Jeremy has been a qualified supervisory analyst (SA) since 1997, and as such is authorized to approve securities research for U.S. distribution. Before entering the securities industry, Jeremy was marketing director and company secretary for a property development company that undertook industrial and commercial projects throughout the U.K. as tax-shelter investments for corporates and high net worth individuals. Jeremy is also the author of A Guide to Investment in Enterprise Zones (Longman, 1988, 2nd ed. 1990). Jeremy Bolland grew up in Malaysia, holds an honors degree in Classics from King's College, London University, and studied Chinese at SOAS and Beijing Normal University.

Produkt-Details

• Erscheint lt. Verlag: 30.12.2010
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Schlagworte: Finance & Investments • Finanz- u. Anlagewesen • Investments & Securities • Kapitalanlage • Kapitalanlagen u. Wertpapiere
• ISBN-10: 0-470-82696-7 / 0470826967
• ISBN-13: 978-0-470-82696-6 / 9780470826966