What Is Good Research?

Riepe, Mark W.
March 2003
Journal of Financial Planning;Mar2003, Vol. 16 Issue 3, p38
Academic Journal
This article focuses on the characteristics of sound investment research. Research is objective when its analysis, conclusions and recommendations are not influenced by any of the author's business considerations. While all research providers genuflect to the altar of objectivity, problems in this area have been documented. Traditional analysts invest a great deal of time getting to know a company's management, business model, products/services, customers and industry positioning. An unfortunate byproduct of that process is the risk that an analyst can follow the tragic path of falling in love with a stock. This can cloud their judgment and stymie their ability to determine if the company's stock price is headed north or south. Great research makes readers want to immediately look at their portfolio (or their clients' portfolios) to see if the insights gleaned from the report are applicable. On the other hand, if the added knowledge doesn't spur the reader to action, then the research just acts as noise.


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