Invest Like the Best with Patrick O'Shaughnessy cover image

Invest Like the Best with Patrick O'Shaughnessy

Danny Moses - The Big Short and Beyond - [Invest Like the Best, EP.34]

Apr 25, 2017
01:12:09

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • The quality of sell-side research has declined due to compromised analysts and the rise of ETFs.
  • Investors can find opportunities in specialty finance sectors by understanding trends and operations.

Deep dives

Importance of Access to Management

Sell-side analysts used to provide access to company management as a valuable resource. However, this has changed in recent years, as sell-side analysts have become compromised by investment banking fees and the need to maintain relationships. Fundamental investing has taken a backseat to immediate returns and the influence of ETFs. As a result, buy-side managers have become less reliant on sell-side ideas and are more selective in using sell-side research as a tool rather than a necessity.

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