1. Being right just 51% of the time

作為一個分析師，你需要51%的時間正確就行了

2. There is not set vacation time on Wall Street. You can take as much time off as you can spare

在華爾街沒有固定的休假事情，如果你能休得出時間，想休假多久都可以（事實上缺是不可能的）

3. No one knows the real discount rate, everybody makes up their own number.

所謂的DCF模型貼現(xiàn)利率都是分析師自己的假設(shè)，沒有人真正知道公司未來值多少錢

4. In a recession, no one wants to look out more than one quarter, no one will believe estimates further out.

熊市不看預(yù)期，看公司持有的現(xiàn)金。所以俗話說牛市看故事，熊市看估值。

5. Three way to be an analyst: 1)top flight B-school MBA; 2)start as assistant to existing analyst; 3) from the industry they cover.

三種成為分析師的方式：1）頂尖學(xué)校的學(xué)歷；2）目前分析師的助理；3）來自實業(yè)

6. An analyst who is making money for the firm is to be protected, no matter what.

只要分析師能給公司賺錢，無論發(fā)生什么，他都會受到公司保護

7. Never trust models, they are garbage.

這里講的是一些量化選股模型，長期看客戶可不能跟著你的估值高低模型做交易

8. You are not in the analysis business, you are in the entertainment business.

分析師的工作是娛樂業(yè)

9. There is no correlation between providing great investment advice and generating more business for your firm.

提供正確的投資建議和賺取更多的傭金之間，沒有什么關(guān)聯(lián)

10. Analyst pay is marked-priced. One of the only ways to get a raise is to get a competing job offer.

作為分析師，獲得加薪最好的辦法就是拿到來自競爭對手的邀請

11. Ninety percent of life as an analyst is showing up

分析師工作中的90%時間是要在現(xiàn)場

12. Wall Street is about allocating capital, great companies can get money easily, bad ones have to pay more for it.

華爾街的作用就是資產(chǎn)配置。好的公司能拿到便宜的資本，差的公司要付出更多。

13. Price target is pure marketing fluff.

不要相信目標(biāo)價

14. January was bonus time, and if you were one of those didn't contribute much, it was time to pretend you did.

1月往往是公司的獎金發(fā)放日，如果這一年你對公司沒什么貢獻，那這個時候至少要裝出做出了很多貢獻

15. There is no bell that rings at the top (or bottom)

市場的頂部或底部都是事后發(fā)現(xiàn)的

16. Every Wall Street firm had a small cap analyst, someone who followed interesting small companies that either fell through the coverage or that no legitimate analyst wanted to bother with.

每一個華爾街公司都有一個小盤分析師團隊，他們覆蓋的公司要么是行業(yè)沒人覆蓋，要么是優(yōu)秀的分析師不想覆蓋

17. The long “right” streak made them superstars and the long 'wrong' streak destroyed them

華爾街的幾大互聯(lián)網(wǎng)明星分析師在51%的時候正確，但是他們是連續(xù)幾年看對，之后又連續(xù)幾年看錯。很多時候，對錯其實來源于行業(yè)趨勢，而不是你的能力

18. For those of us in on the game, your reputation was everything, becasue at the end of the day, that is all you have on Wall Street.

在華爾街，你的聲譽意味著一切，當(dāng)有一天你離開這個市場的時候，聲譽就是你留下唯一的東西。

19. As an analyst, you have to have a thick skin.

作為分析師，臉皮一定要厚

最后，歡迎在假期沒事的時候，聽聽我關(guān)于Wallstreet Meat的共讀，目前還在連載中。掃下面的二維碼就行了。