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Basically, stock analysts try to calculate the value of shares and relate that value to the current price at which the share is traded in order to identify interesting investment opportunities. As noted by Beunza and Garud (2007), this means that analysts regularly deal with situations characterized by Knightian uncertainty. For many analysts, this is also what motivates them: Brokers and traders want to sell and make money; analysts want to be right. (Head of Analyst Group) Analysts are active in all business lines within investment banking, but their major role is within securities. This is where they spend most of their time, residing next to the brokers and the traders. Since the analysts regularly interact with people outside their own occupation, as well as outside the bank, they are an informative group on which to focus if one wishes to understand what goes on between the different experts in investment banking, as well as between different actors in the financial sector. Describing the work of stock analysts will shed light not only on what they do themselves but also on what they do together with others. |
