Equity Research Simulation

• Review company profiles and sector outlooks

• Analyze financial performance and KPIs

• Build and adjust a financial model

• Apply valuation methods to derive a stock price target

• Write a professional-grade research memo

• Present recommendations in a live (or recorded) committee format

• Defend their thesis under questioning from peers or simulated stakeholders

By the end, participants will be more confident in:

• Analyzing company performance using real data

• Building credible financial forecasts and valuations

• Communicating investment ideas with clarity and confidence

• Navigating uncertainty and conflicting data

• Making decisions under pressure and defending them

• Writing professional research notes for real-world audiences

• Differentiating between story-driven and data-driven analysis

• Responding to real-time market developments with agility

• Understanding the buy-side vs sell-side research perspectives

• Practicing presentation skills in high-stakes financial environments

The simulation is highly flexible and can be scaled for entry-level students or advanced learners preparing for finance roles.

1. Receive a Scenario or Brief Each round begins with a new company case, market update, or event (e.g., earnings release). Participants receive a research task - such as a valuation update, downgrade memo, or new coverage report.

2. Analyse the Situation Participants evaluate available data: company financials, analyst estimates, macro headlines, peer performance, etc. They interpret key drivers and risks.

3. Build a Model and Make Decisions Using simulation tools or guided templates, participants forecast financials and apply valuation logic to form a view on fair value and investment direction.

4. Write and Present Research Participants write a short-form memo and deliver a pitch presentation (live or recorded), defending their rating and rationale to the committee.

5. Engage in Peer/Committee Review Teams or individuals receive feedback from instructors, peers, or AI-simulated investment committee members.

6. Repeat the Cycle Subsequent rounds introduce new variables (e.g., macro changes, earnings beats/misses, industry regulation), requiring revisions to analysis and narrative.

Throughout, participants are guided to reflect on their strategy, defend their assumptions, and iterate on their work.

• Do participants need prior experience in equity research? No, the simulation provides guided onboarding and explanation of key concepts. Familiarity with basic financial statements is helpful.

• What types of companies are used? Simulated listed companies across industries - tech, retail, industrials, etc. - with realistic financials and performance narratives.

• Can valuation models be customized? Yes. The simulation allows DCF and comparables inputs to be adjusted. Pre-built or editable templates are available.

• Is this simulation more quantitative or qualitative? Both. Students must build models and construct persuasive narratives to support their views.

• Is it a team or individual experience? Both are supported. Individual play is ideal for deep modeling focus, while team formats mirror real research desks and investment committees.

• How long does the simulation take? Anywhere from 2 hours to a full week, depending on how many rounds, presentations, and review cycles are included.

• Does it include peer review or role-play? Yes. Peers can act as committee members or portfolio managers questioning the analyst’s pitch, enabling soft skill development.

• How is performance evaluated? Based on the quality of analysis, accuracy of valuation, clarity of research communication, and strength of thesis defense.

• Can it be integrated into a finance or business strategy course? Yes. It fits seamlessly into financial analysis, investment strategy, valuation, or communication-focused curricula.

Assessment is flexible and customizable. Participants may be evaluated on:

• Forecast accuracy and valuation integrity

• Structure and clarity of research notes

• Presentation and persuasion skills

• Strategic response to new information

• Peer feedback or committee questioning

• Reflection logs and memo drafts

Optional peer/self-assessment tools can also be integrated to measure collaboration, analytical depth, and improvement over time. The simulation’s format allows easy inclusion in both academic courses and professional assessment centres.