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Title

Are Sell-side Analysts' Recommendation Useful?

Event Description

​Co-Organised By:

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EVENT DETAILS

Date: 20 November 2018, Tuesday

Time: 12.00pm to 2.00pm (Registration starts at 12.00pm; Talk begins at 12.30pm)

Venue: TKP Conference Centre, Conference Room 2, 55 Market Street #03-01, Singapore 048941​​

 

EVENT SYNOPSIS

Sell-side equity analysts issue buy, sell or hold recommendation on stocks in the capital markets. These potentially material market-moving calls are keenly followed by retail investors as well as institutional funds who spend in excess of millions of dollars annually on these sell-side reports in a bid to earn alpha or excess risk-adjusted returns.

Are the millions well spent? Are analysts’ calls based on analysis? Or do some research houses have a tendency to mimic the calls of bigger and more well-known research houses? 

Singapore Management University Assistant Professor, Mr Frank Li Weikai, will attempt to provide insights and evidence to the above questions in this one-hour lunch-time talk in downtown Singapore.

In his recently published research paper, he found analysts tend to give favorable recommendations to stocks classified as overvalued, and these stocks tend to have particularly negative abnormal returns over time. His study also seem to suggest that analysts’ recommendations are often biased and may contribute to mispricing in the capital markets.

Mr Li will then be joined by an illustrious panel in discussing the value in sell-side reports. Mr Mark Tan, Senior Director, Greater China Equities, UOB Asset Management, who has many years of experience in portfolio management will weigh in on the issue from the buy-side perspective whilst Mr John Tsai, Portfolio Manager, Greater China Equities, Eastspring Investments, who was a sell-side analyst before moving to being a portfolio manager will certainly be able to provide insights from both sell-side and the buy-side perspective. The panel also includes fund-manager Teh Hooi Ling who has an illustrious career as a columnist in Business Times – her broad yet in-depth knowledge of the financial sector will certainly add color to the discussion. 


FEATURED SPEAKERS

Frank Li Weikai, Assistant Professor of Finance, SMU

John Tsai, Portfolio Manager, Greater China Equities, Eastspring Investments

Teh​ Hooi Ling, Founder and Fundmanager, Inclusif Value Fund and AWARE Immediate Past President


TERMS AND CONDITIONS

•Registration will only be confirmed upon receipt of the registration form and full payment.
•No cash payment will be accepted for on-site registration.
•If any registered participant is unable to attend, a replacement is welcome, but a top-up may apply depending on the
membership category of the replacement participant. However, no refund would be made.
•CFA Singapore reserves the right to:
 * cancel, postpone or make any changes to the terms of the event at its sole discretion without giving any prior notice;
 * reject any registrations;
 * collect payment shortfall in accordance to the actual membership status of participants.
• By signing and submitting this form, I / we consent to CFA Singapore collecting, using, disclosing and processing my / our personal data :
  (1)  for purposes related to the administration of the registration for the above event;
  (2)  to send me updates informing me / us of events and activities organized by CFA Singapore.

*I understand that my personal data will be used and retained in accordance with the CFA Singapore Personal Data Policy available at www.cfasingapore.org

 

GLOBAL PASSPORT PROGRAMME 
 

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The Global Passport Program allows members of participating CFA societies to attend each other's society events at the local member price.

Event Type

Society; Educational

Education Topic

 

Start Time

11/20/2018 12:00

End Time

11/20/2018 14:00

City

Singapore

State/Province

Singapore

Event Country

Singapore

Event Region

Asia Pacific

Location Info

TKP Conference Centre, Conference Room 2

Speaker

Frank Li Weika; John Tsai; Teh Hooi Ling; Chan Fook Leong, CFA

CE Credits

1

SER Credit

0

Currency

SGD

Member Price

0.00

Non-Member Price

40.00

Candidate Price

20.00

Registration

​Click HERE​ to register

All Day Event

 

Recurrence

 

Event Photo

 

Custom Event Type

Others

Date

20 November 2018

Text

ARX Event

Event Type

ARX Event

Function Type:

Event

Attachments

Content Type: MyCFA Calendar
Created at 11/5/2018 17:42 by events@cfasingapore.org[CASMSTS:username]
Last modified at 11/16/2018 16:41 by events@cfasingapore.org[CASMSTS:username]