Once earnings season winds down, equity analysts start thinking about investment bank conferences and upcoming meetings with management. While the largest concentration of conferences happens in July and September, conference season happens year-round, so we thought now would be a good time to share our guide.
As conference season begins, you’ve got a lot on your mind. You and your team are getting ready to catch a flight, prepping for multiple days of back-to-back meetings. You want to be as prepared as possible, to ensure that you get the most out of your time away.
But as former analysts, we’ve been in your shoes, so we put together a quick guide to help you out.
When you’re on the road, your mobile device is your best friend. Don’t miss anything while you’re gone; use a mobile cloud software that allows you to review documents and financials while traveling — anywhere, anytime.
- Reference financial data and prior conference transcripts on your tablet and phone during meetings with management, so your questions are sharp and you get the most out of your meetings.
- With mobile access, you won’t fall behind if you’re away from an onsite data terminal. (And try not to forget your phone charger at home).
Listen Carefully and Read Management’s Body Language
Management presentations will typically seem optimistic, but look for clues and ask tough questions to get to key nuggets of information. Try to scope out and take notes on indicators such as:
- Management speaker confidence
- Openness about risks (generally thought of as a sign of genuine enthusiasm)
- Covering one’s neck (i.e. subconsciously seeking to protect a vulnerable part of their body) is a sign of discomfort, as is adjusting a tie, loosening a collar, or rubbing the forehead.
- Executives who are uncomfortable with what they are saying often use “distancing language,” changing pronouns from “I” and “we” to “the company.”
Some other things to look out for in management presentations:
- Comments on liquidity: trends in cash flow (or lack there-of) on balance sheet
- Use of credit lines (are they too dependent on these?)
- Press activity (press releases, PR firm hiring, poaching talented executives, new product announcements, focus on research and development, or R&D)
Prep Your Questions
- Prepare and store your questions for conference meetings within a system that you can access while you’re in the meeting room, ideally from your mobile device.
- As the meetings occur, keep organized and also take notes within your mobile app. Tag them by ticker, topic, or your own keywords for easy retrieval after the trip.
For the rest of our tips, please download the whole eBook here!
Investment Bank Conferences in 2019
We compiled a list of websites with the dates for investment bank conferences, below for your reference. There are a few large banks (Goldman Sachs, Morgan Stanley) and smaller firms that do not have lists, but this should help you make sure you don’t miss any upcoming conferences.
- February 20 – 21, 2019, GLOBAL SRI CONFERENCE – Paris, France
- February 21 – 22, 2019, KOREA CONFERENCE -Seoul, Korea
- Feb 10-13, 2019, 24th Annual Energy Summit, Vail, CO
- Feb 11-13, 2019, 20th Annual Financial Services Forum, Miami Beach, FL
- Citi’s 2019 Global Industrials Conference, Miami, 20-21 Feb 2019
- 2019 Asset Managers, Broker Dealers & Exchanges Conference, New York, 27 Feb 2019
- Private Company Technology & Services Conference – 2019
- Global Consumer, Technology & Services Conference – 2019
- Meetings at Metro Connect, Miami, FL, January 29-31, 2019
- 10th Annual Chemicals Forum, Toronto, Canada, February 5, 2019
- Telecom Policy Symposium, Washington, D.C., February 11, 2019
- Meetings at Mobile World Congress, Barcelona, Spain, February 24-26, 2019
- 40th Annual Institutional Investors Conference, Orlando, FL, March 3-6, 2019
- Annual Cyber Security Dinner, San Francisco, CA, March 5, 2019
- Meetings at OFC Conference, San Diego, CA, March 5-6, 2019
- CFANY Insurance Industry Conference, New York, NY, March 18-19, 2019
For the rest of our tips, please download the whole eBook here.