Process, Process, Process…
The process I established covering Internet, Media and Telecom stocks is a collection of what I observed as best practices from the research veterans I am fortunate to have as colleagues. It is also the process I used and battle-tested covering Healthcare IT stocks with many successful long/short calls.
I’ll let you review the process slides below for more detail… but it goes something like this.
Sound familiar? It should. Especially if you are a Hedgeye subscriber.
I tell every prospect that I meet… While it may take time to get a ticker completely through my process, it’s worth it. Because what comes out in the end is a high conviction, high hit-rate stock call. I like to think of it as the Disney, tent-pole, strategy to idea generation and research production. Focus laser like on quality, conviction and a high hit rate. Not the Netflix, cover the waterfront, shots on net, be all things to all people strategy.
The mistakes I have made picking stocks are when I have tried to short-circuit the process. And my biggest problem right now is where do I focus my time—time itself being the biggest enemy of research.