5 Hacks for industry research - Key Sources
Performing industry research can be a time consuming and exhausting process, it worsens if you have a very niche industry to deal with.
So here some quick sources for all investment banking and equity research analysts who have to perform industry research on a regular basis
1) Initiating coverage reports: These are the research reports written by brokers/equity research houses when they first start tracking a new company. Such reports cover various nuances concerning the company including details like trends, drivers, key regulations of the industry.
2) IBEF.org: The Indian Brand Equity Foundation, this is a very useful portal especially if you are looking at Indian markets. You are required to create a login (which is free) and access to well written and detailed insights of all the major industries in India
3) DRHP: Look for companies which have gone public recently in similar industry that you are analyzing. When going public, companies are supposed to file a Draft Red Herring Prospectus with the regulating body. These documents are gold mines giving details of the macros, trends, relative valuations, competitive landscape of the industry.
4) Industry Associations: It is a common practice for the major players of an industry to come together to form an association. These associations keep a track of the key statistics, regulations and its impact on the industry. This source becomes very important for niche industries which are not covered by research houses or do not have many public players.
5) 10K Statements: The annual filings of the US listed companies. The 10K statement makes it compulsory for all the companies to include industry related information including market size, trends and key risks. Very useful and credible source specially for US listed companies.