What is the best way to get analyst reports?

blakegallagher · Aug 21, 2014

These analyst get better information than me (some of them anyway). There are a few analyst reports I would really like to receive for TSLA mostly but also for some other stocks they cover. What is the best way to go about getting these? Do these guys cater to personal Investors at all? I sent a general email inquiry to Morgan Stanley and heard nothing back. I also recently sent an email to the new asian research firm that initiated coverage with a 300 PT recently.

If I was a member at a traditional broker would they have access to these? I am currently with a discount broker online and when I called to inquire about getting the reports he refferred me to a seeking alpha article (which yes made me want to switch brokerage accounts immediately.

Maybe I need to get a better contact email for some of these people? Anything short of taking an internship at a major investment house I can do to get access?

I dont really want to start up investment acounts at 3 or 4 different places but might be willing to if thats what it takes.

Auzie · Aug 24, 2014

It may be possible to get analysts notes on their organization website. Some navigation / search through their website may be necessary.

It might be more beneficial to put the effort into seeking information that you believe they have and you do not, rather than search for their reports. Their reports are the outcome of them doing their job. The investor who has high stakes placed on the outcome of his/her research and analysis is likely to do much better job than an impartial analyst with no stakes in the game.

Teo · Aug 24, 2014

Hi Blake,

Most of those are based on Elon's conference calls. For example the recent Credit Suisse Report that you wrote about where they mention 10% more efficient cells for the Model X is a misinterpretation of Elon's 31 July 2014 conference call where he said the form factor of batteries produced in the Gigafactory will be 10% bigger in height and diameter than the standard 18650 cells they have been using.

I'm guessing you have already know about this link but in case you didn't here is where you can access all the conference calls. You can enter any name and email address to access it: Tesla - Events Presentations

On the following Deutsche Bank web page you can find analyst reports on lots of different issues, from solar power to electric cars to smart grids to oil. When you open the page ignore everything except the search box on top right. Enter a search term like "electric cars", "oil", "solar" or anything you want. As soon as you make a search it switches to a much better interface.
www.dbresearch.com

SteveG3 · Aug 24, 2014

Teo said:
Hi Blake,

Most of those are based on Elon's conference calls. For example the recent Credit Suisse Report that you wrote about where they mention 10% more efficient cells for the Model X is a misinterpretation of Elon's 31 July 2014 conference call where he said the form factor of batteries produced in the Gigafactory will be 10% bigger in height and diameter than the standard 18650 cells they have been using.

Teo, things have certainly gotten better for individual investors over the past 15 years or so, and as you wrote, the conference calls are a great asset. Nonetheless, there does remain some access to information analysts have that we do not... and we've seen several examples of this with Tesla.

It's possible that the Credit Suisse analyst is misinterpreting the comments we all heard on the conference call, but I sense that he had a conversation with Tesla, and I'm 80% sure this is new information (just quantifying what general experience/gut suggest to me). It's worth noting that the change in "cell geometry" was to be with GF production, so 2017 or later, whereas the analyst was specific about the improvement he was discussing being chemistry related and being with the cells to be used with next year's Model X.

Chickenlittle · Aug 24, 2014

SteveG3 said:
Teo, things have certainly gotten better for individual investors over the past 15 years or so, and as you wrote, the conference calls are a great asset. Nonetheless, there does remain some access to information analysts have that we do not... and we've seen several examples of this with Tesla.

It's possible that the Credit Suisse analyst is misinterpreting the comments we all heard on the conference call, but I sense that he had a conversation with Tesla, and I'm 80% sure this is new information (just quantifying what general experience/gut suggest to me). It's worth noting that the change in "cell geometry" was to be with GF production, so 2017 or later, whereas the analyst was specific about the improvement he was discussing being chemistry related and being with the cells to be used with next year's Model X.

What even bothers me more is that investment houses get tours and private audiences with companies. Yes you can take a tour of factory as well but not with senior executives nor is it the same tour.

Auzie · Aug 24, 2014

The Toothbrush Test

Perhaps it is disappointing that businesses differentiate between investors and treat them unequally regarding access to detailed business information.

Our world is changing. Today's investors are looking at different metrics when making investment decisions. Here is an interesting article on Google's toothbrush test.

Interesting extracts:

"The esoteric criterion shuns traditional measures of valuing a company like earnings, discounted cash flow or even sales. Instead, Mr. Page is looking for usefulness above profitability, and long-term potential over near-term financial gain."

"Google’s toothbrush test highlights the increasing autonomy of Silicon Valley’s biggest corporate acquirers — and the marginalized role that investment banks are playing in the latest boom in technology deals.

Deals with unadvised buyers are increasing rapidly. The acquiring company did not use an investment bank in 69 percent of American technology acquisitions worth more than $100 million this year, according to Dealogic. That number was 27 percent 10 years ago.

At the heart of the disconnect between technology companies and banks is the belief among many tech executives that some advisers simply do not know what companies like Google and Facebook are looking for.
“Bankers do two things well: financial evaluation and negotiation,” said Richard E. Climan, a partner at the law firm Weil, Gotshal & Manges who often works with companies to complete deals where no banks are involved. “But there’s a feeling that investment bankers might not be so important on the evaluation of early-stage tech companies.”".

The point I am trying to make with this article is that if the best and the brightest (Google) do not bother to hire or follow investment bank analysts when making their investment decisions, then perhaps small investors like us here need to review the usefulness of the analysts and their reports.

Clprenz · Aug 25, 2014

Befriend them

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What is the best way to get analyst reports?

blakegallagher

Member

Auzie

Tree Hugger Member

Teo

Banned

SteveG3

Active Member

Chickenlittle

Banned

Auzie

Tree Hugger Member

Clprenz

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