When I was studying, about 10 years ago, analysts were the most popular industry in the financial world. Many graduates dream of becoming investment bank analysts. At that time, the aura of analysts was so great that they were more attractive than lawyers, doctors, or consultants from large consulting companies.
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The market can talk, you go to a bar to play, the chance of an analyst communicating with a woman is slightly higher than that of other professions.
At that time, I was a university student and the general public had some philosophical myths. If the analyst was so good, why didn’t he speculate on his own? He wanted to live in an investment bank instead of showing off his talents.
They have many ways to defend themselves. They will say that they are proficient in analysis and provide advice to clients. They are in other industries, such as fund managers. Sometimes I feel that economists have stronger analytical power than them, and they will jump out and say that we are analyzing a specific industry, a specific company, rather than focusing on general environmental factors.
Popularization of analytical skills
The market still speaks. If you tell people that you are an analyst today, the aura is not as big as before, and the labor of the analyst is deteriorating. Financial actors also say that they are analysts, and the halo fades further.
In addition to the shrinking industry and fading aura, another factor is that I feel that the skills and axe of analysts have gradually become popularized. After graduation, I met some high-quality financial journalists who have higher analytical power than analysts. In the past, the data was relatively closed. You can obtain certain data exclusively, and you will be a first-class analyst. But now the data is more open and the analysis tools become more efficient.
Of course, another problem is that the analysis of the basic factors in Hong Kong is not as reliable as imagined.
Later, some analysts in the market went to work as fund managers. There were no long-win generals in the world, and many of them were transformed or eliminated. There are also some who continue to struggle to survive in the industry, and I have also seen some who have gone to become financial actors.
Those who find a way out are really doing corp fin or cryptocurrency. They may have relied on private office helpers to provide advice. Looking at the writings of some past analysts, I would feel that their skills in axe are already out, either they are suffering from a secondary illness, or they are a gambler.
Some analysts will also jump out to write autobiography, but they have some breakthroughs outside the system. They will always serve customers and have their bosses. They have not done any earth-shattering things. To be honest, they have seen some breakthroughs. When an analyst writes his autobiography, I feel that I have been wonderful for most of his mediocre life in a year.
Muddy water
Published weekly in this column
