Part 3 of our analysts’ dos and donts series.
Partial transcript of key points below. Enjoy!
Read the room. If the IC chair is checking their watch, skip to the valuation. If they are leaning in, slow down.
Do defer to experts. If a junior analyst on your team did the heavy lifting on the cohort analysis, emphasize that. It shows leadership.
Do pause for silence. After making a major point, stop. Let it sink in.
Do bring the data room. Have the raw Excel model open and ready to project if someone challenges a specific driver.
Do not narrate the text. The IC can read faster than you can speak. Add color, context, and nuance.
Don’t be defensive. When challenged, treat it as a collaborative stress test, not a personal attack.
Don’t guess. If you don’t know a number, say, I don’t have that exact figure, but I will get it to you by EOD.
Don’t run over time. If you have 30 minutes, finish in 20. Leave room for the debate.
Do listen to the question behind the question. If they ask about competitor X, they are likely asking, does this company have a moat? Answer the strategic concern.
Do concede valid points. If an IC member finds a flaw, own it immediately.
You’re right. That is a significant risk. Here is how we sized it.
Huat Ah!
This post does not constitute investment advice and should not be deemed to be an offer to buy or sell or a solicitation of an offer to buy or sell any securities or other financial instruments.
