The students of TAPMI were privileged to be a part of a discussion on Writing Investment Reports by Mr. Shreenivas Kunte, Content Director, CFA Institute. To begin with, he stressed on the importance of writing in the finance industry. Top traders read at least two books a week and that is one of the keys to writing investment reports, he stated.

Moving ahead, he spoke about the various forms of communication used by investment writers these days. These include WhatsApp, emails, Bloomberg reports, LinkedIn and journals. He also spoke about the two behavioral biases – anchoring and herding, which set the benchmark and gives the writer the buying argument respectively. Further, he explained how a trader looks to make gains through his writings by giving a hypothetical example.

Further, he said that too much information is a problem these days and writers need to have the knowledge and skills to be choosy about what to write and which audience to target. The reports should also be detailed and punchy. Time and again, he kept on encouraging the students to indulge in writing investment reports in the form of blogs, stating that it will give them an edge over others whether it comes to interviews or at some point or the other in the future.

He touched on the roles and duties performed by research analysts, fund managers, investment bankers and pointed out the types of reports prepared by them. Written communication has a multiplicative effect and can go viral, he said. To end with, he stated that level of disclosure is a problem faced by Indian companies these days and to add to that the lack of punchy and comprehensive reports was a major quality lacking in Indian investment reports.