Somehow, James Falbe, CFA went viral for this... (White Paper coming soon)
What does an equity analyst actually do? . Not sure if anyone will find this example interesting, but I've been asked... . . . Today, I reconciled an IFRS (international accounting standard) Cash Flow Statement with our prototypical GAAP (US accounting standard) way of looking at the world. This is important so that we can compare opportunities around the world on an apples-to-apples basis. While a lot of this has become automated, sometimes the numbers still don't line up, and that's when you need to know what you're doing. . . A lot of people would find reconciling numbers from deep in the footnotes to the financial statements as tedious and boring, but for those who are obsessed, its like getting paid to play Sudoku. . . In all honesty, I tried to solve this one last night (Games Workshop), but had to revisit it this morning when I was fully functional. If anyone has read this far and would actually be interested in how you do this, leave a comment and I'll be happy to expand, otherwise I'll keep these types posts out of the feed.