Analysts' reports
It would be convenient if all analyst reports followed
a simple, fill-in-the-blank template, edited and organized for
maximum clarity and easy skimming. That way, curious investors
could rapidly skim through their pages and find, in seconds,
precisely what they needed. For better or worse, this is not the
case.
Instead, each firm's proprietary report highlights
different types of information presented in different formats,
often using different terminology. The benefit of variety is that
the wide range of presentations allows you to glean different
insights from different reports. The challenge, of course, is
learning how to read the information you get.
No single universal guide can define every term
and statistic you'll find in every research report. But many reports
share some elements, so you can get a feel for the basics. And
if you're ever stumped, you can do what many savvy investors do:
Ask an expert. That's what financial advisers are for.
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Sam Stovall, 
