| Topic Name: |
generalist vs. specialist |
| Message Name: |
Specialize |
| Date Posted: |
04/26/2002 |
| In Reply To: |
I'm joining a medium sized, growth-oriented mutual fund firm. Last summer I interned there and worked with an analyst who's basically a generalist covering companies in a wide range of industries across the economy, including leisure (gaming, hotels, cruise lines), home-building, consumer products, etc.
Now that I am joining the firm fulltime, I have to decide if I want to work with him again or switch to another area. I really like the guy I worked with a lot. He is a great guy to work for, and I know I would be happy under him.
On the other hand, I am really tempted to try to get a more specialized coverage assignment, eg. technology, or media, or perhaps financials. I think that in terms of my professional development it would be better to be a specialist, an expert in one area, rather than having less dept of knowledge across a wide range of industries. Would it not also be better in terms of my marketability to business schools or subsequent job opportunities down the road? The other thing is that I risk being put with someone I don't get along with as well.
Any thoughts or advice would be greatly appreciated.
Is it common to switch coverage areas frequently? I would think it would be ideal to cover a particular industry for as long as possible, even one's whole career. Then again, it's got to be something you like a lot. In all honestly gaming stocks don't really move me very much.
Thanks for your input.... |
| Message: |
If you have the option of covering a specific sector or industry, do it. Nothing against generalists, but I can't see how they can possibly gain enough expertise to make good stock recommendations to portfolio managers.
It is very common for analysts to switch coverage. Often a new analyst will cover a small area, and then move up to a better one after he's proven himself.
Don't allow the fact that you like the analyst that you used to work for influence your decision. This is a career issue.
Good Luck.
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