| Equity research (independent) is the first and most important phase of the investment process. Starting with an objective and strategy, the global research phase should yield specific buy and sell recommendations. This will be the input for the next phase in the technology based investment process; portfolio construction.
Crowther Investment focuses on the technology-based and often, quantitative tasks in the equity research phase. We have 25+ years of experience in: research creation, distribution, procurement, sales, model & system development, and implementation into the investment process. Research experience is from the buy, sell, vendor and academic sides of the investment business.
Some of the steps we can help identify, design, document, implement, transition and management include:
- Strategy, focus, positioning, marketing
- Global, fundamental financial, accounting & quantitative research and analysis
- Financial engineering
- Research universe selection, management and maintenance
- Earnings estimate analysis & models (quality, momentum, volatility, persistence, revision, surprise, etc)
- Security pricing & technical analysis
- Market microstructure analysis
- Stock valuation, scoring and ranking (long & short)
- Multi-factor equity risk models
- Principal Component Analysis
- Higher moment distribution analysis
- Region / sector / industry analysis
- Time series analysis; ARMA, ARIMA, ARCH, GARCH; clustering (volatility, etc)
- High frequency data research
- Complex event processing
- Back testing, simulation & Monte Carlo
- Cross asset class & market correlation, sensitivity
- Portable alpha, cheap beta, long/short extensions, absolute return, alternative investment research
- Market risk analysis
- Systematic forensic accounting research
- Economic & econometric
- Style, benchmark, peer and other characteristic analysis
- Hedge fund, ETF, structured products, strategy, process & models
- Behavioral finance in a quantitative & systematic framework
- Channel checking, supply chain management, "long tail" research
- Research authoring, publication, distribution tools, tags and protocols (RIXML, XBRL)
- Efficient and optimal use or expert networks and knowledge process outsourcing (KPO)
- Incorporate real-time market & reference data into processes and models
- Intelligent text & news; searching, parsing, reading, logical, and inference processes
- Extensive use of global fundamental financial, pricing, estimate, risk, economic, proprietary; other external commercial databases, blogs, screen scrapes, mashups
- Soft dollar eligibility, assessment & allocation
- Boston Security Analysts Society - CFA Continuing Education
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