How to Treat Management Guidance
The daily judgement call in a research analyst's modelling work.
A company guides to 8–10% revenue growth. Where do you put your estimate, and why?
2 questions reported in Morgan Stanley Research interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
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Driver-based models, differentiated estimates and defending a rating. 2 questions
The daily judgement call in a research analyst's modelling work.
A company guides to 8–10% revenue growth. Where do you put your estimate, and why?
Research interviews probe intellectual honesty, because the job is being wrong in public.
You have a Buy rating and the stock is down 30% since initiation. A client calls. What do you say?
Write your answer, get it graded on technical accuracy, completeness and communication, and see exactly which mechanic you missed.
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