Learn / The pitch, in depth Go to Overview 1. Building a long thesis 2. Variant perception: what the price assumes, Pro 3. Catalysts and timing, Pro 4. Building a short thesis, Pro 5. Valuation for the pitch: three cases and the skew, Pro 6. Sizing and hedging the idea, Pro 7. The two minute and the ten minute pitch, Pro 8. Handling pushback, Pro Flashcards, 0 of 17 reviewed Basic quiz Advanced quiz Terms The pitch, in depth
0 of 8 lessons
0 of 17 cards How an analyst builds a long and a short from scratch, finds what the price already assumes, values the idea in three cases, sizes and hedges it, and holds up under ten minutes of pushback.
A Advanced4 lessons 5 Valuation for the pitch: three cases and the skew A target price is the start. Funds want a bull, a base, and a bear, the odds you put on each, and the ratio of upside to downside. That ratio is what sizes the position. 11 min 6 Sizing and hedging the idea Funds size by risk, not by excitement. A volatile stock gets a smaller position, market exposure gets hedged out, and what is left should be the bet you actually pitched. 10 min 7 The two minute and the ten minute pitch The two minute version is the call, the gap, the catalyst, the number, and the risk. The ten minute version adds the business, the evidence, and the cases. Prepare both for the same stock. 9 min 8 Handling pushback The pitch is the first two minutes. The next twenty are the interviewer arguing the other side. Concede what is true, put a number on what matters, and return to the thesis. 10 min Q Advanced quiz 10 questions, 80% passes