Summer Associate - Equity Research

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In a pristine environment, and much different than my previous few summer experiences, CapStone Investments is headquartered in sunny San Diego. Though the city seems laid back, the investment firm has a wide range of clients across the U.S. to which it provides research, sales & trading, and investment banking services. My primary interest was in the equity research division of CapStone, though as a boutique investment firm I was able to gain experience across other divisions of the Bank as well.

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Given that I was one of 2 interns across the firm's U.S. operations, I was able to work closely with the 9 senior research analysts covering a variety of sectors. On the job learning was crucial to my summer experience and I was able to take on real responsibilities from day one. My work comprised of the tasks which were standard to working in the industry. They included building financial models to estimate EPS and a Target Price for the target company as well as performing fundamental research and utilizing relevant sector metrics in the process. By analyzing a company's financial statements, earnings calls, and other publicly available information, I was able to learn a great deal about the companies and the wider industries which encompass them. I mainly worked on companies in the Specialty Retail, Industrial, and Restaurants sector, but gained experience working on projects in other sectors such as telecommunications and clean tech as well. At the end of my internship, I was able to sum up my knowledge to write my own equity research piece on a specialty retail corporation, providing an investment thesis and recommendation to the senior analyst.

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All in all, my experience as a summer associate truly gave me a chance to take on responsibilities and get a feel of the work I would be doing as a full time research associate. I've definitely enjoyed all I've learned and look forward in continuing to expand my knowledge on the markets and becoming an expert equity research stock analyst in the near future. 

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