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2020-2021 Investment Committee Workshop 2 – Industry Overview Guide

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2020-2021 Investment Committee Workshop 2 – Industry Overview Guide 2020-2021 Investment Committee Workshop 2 – Industry Overview Guide October 14, 2020 mcgillinvestment.club Agenda I. Sector Announcements II. What is an Industry Overview and Why is it Important? III. Structure of an Industry Overview IV. Industry Overview Example V. Data Sources VI. To-Do For Next Session McGill Investment Club 2 Sector Announcements Section I Hope You Guys Are Happy! Consumers Diversified Energy / Util. ▪ Emanuel Vella ▪ Julia Jin ▪ Adam Di Re ▪ Ben Williamson ▪ Luca Pollota ▪ Sophie Song ▪ Grace Cosby ▪ Bing Peng ▪ Caroline Clarke FIG Healthcare TMT ▪ Jasmine Liu ▪ Collin Wang ▪ Bennet Wang ▪ Larry Ge ▪ Harry Su ▪ James Xu ▪ Woo Park ▪ Thomas Rusaw ▪ Jason Hum McGill Investment Club 4 What is an Industry Overview Section II What is an Industry Overview and Why is it Important? What is an Industry Overview? ▪ An industry overview should give the audience a better overall understanding on a specific industry ▪ Common ways to help give insights: − What are the subsectors within the industry? − How is the competitive landscape structured? (fragmented, monopoly, etc.) − Identifying select key players within the industry (i.e. who are the dominant companies?) − How do businesses actually make money? − What do margins look like? − What are some key drivers within the space? (political, environmental, etc.) − What are some major trends happening within the space? Why is it Important? ▪ An industry overview gives the audience a better background about the competitive and surrounding landscape of a company ▪ Presenting interesting macro or industry trends can help you craft unique investment theses ▪ You will need to understand how companies operate within an industry before providing a recommendation on if it’s an attractive investment – some business models are more complex than others! An industry overview should help you learn about the industry as well as teach others McGill Investment Club 6 Structure of an Industry Overview Section III Basic Elements of an Industry Overview Explaining the Business Model Key Trends & Outlook Market Valuations ▪ Outline what are the major ▪ What are some key trends that ▪ Stock chart performance of subverticals within the industry we observe within the industry? industry benchmark over past year ▪ How do companies in each ▪ How do these trends impact subvertical generate revenue? companies within the space? ▪ Are their any exceptions in terms What do their profit margins of stock price performance? usually look like? ▪ What is our general outlook on the industry? Positive or ▪ How do multiples look like? Are ▪ Some industries will be more negative? companies trading at relatively intuitive than others (ex: expensive or cheap prices? consumers vs. O&G) Start with the basics first, then present any interesting insights or opinions McGill Investment Club 8 Example of Industry Overview Presentation Structure Information # of Slides Example (Healthcare Industry) ▪ Explain medical devices, drugs, and services subsectors Outline of Industry Subsectors 2-3 ▪ Provide few examples of dominant players in subsector + Key Players ▪ Touch upon health insurance model + FDA regulatory process ▪ Historical performance of U.S. healthcare index over last year Sector Trends + Performance 2-3 ▪ Macro trends of changing demographic and healthcare policies ▪ Explanation of new wave of digital health (MedTech) ▪ Example subsector: Medical Devices Specific Subsector Details 1-2 ▪ Explain the major revenue and cost drivers ▪ Recent trends of consolidation and M&A activity ▪ How has COVID-19 affected the Medical Devices space? Insights 1-2 ▪ Will consolidation continue? Will companies be able to continue growing at a fast pace? BONUS: Add in valuation multiples trends over time McGill Investment Club 9 Industry Overview Example Section IV McGill Investment Club 11 McGill Investment Club 12 McGill Investment Club 13 McGill Investment Club 14 McGill Investment Club 15 McGill Investment Club 16 McGill Investment Club 17 McGill Investment Club 18 McGill Investment Club 19 McGill Investment Club 20 McGill Investment Club 21 McGill Investment Club 22 McGill Investment Club 23 McGill Investment Club 24 McGill Investment Club 25 McGill Investment Club 26 McGill Investment Club 27 McGill Investment Club 28 McGill Investment Club 29 McGill Investment Club 30 McGill Investment Club 31 Data Sources Section V Where To Find Data Government Publications Research Websites & Reports Company Investor Relations ▪ Federal Reserve Economic Data ▪ Bloomberg and CapIQ can ▪ Company investor presentations (FRED) has publications on provide information on index will generally provide some recent GDP, income, etc. prices, M&A activity, and background on their industry, but numbers valuations will be more specific to their company ▪ Other governmental institutions ▪ Equity research can provide will have information larger general information on industry ▪ Company annual report may macro data (ex: COVID cases, trends (especially in initiating include some industry consumer spend) coverage) benchmarks ▪ Some firms provide free publications (ex: Deloitte, BCG) ▪ Research websites can provide numbers on market size and growth outlook (ex: IBIS world, Mintel) McGill Investment Club 33 To-Do For Next Session Section VI Homework! 1. Start working on industry overviews with your team – presentations are 15 min + 5 min Q&A a) Start with reading some primers about the industry b) Build out a shell about how you want to structure your presentation c) Gather relevant information and datasets d) Put it together in a slide deck e) Go through presentation together to see what’s missing or needs fixing + practice timing 2. Start thinking about what company you want to pitch when researching your industry overview McGill Investment Club 35 Q&A MIC Disclaimer The print and digital material ("the material") for this presentation was prepared by the McGill Investment Club (“MIC"). The qualitative and statistical information ("the information") contained in the material is based upon various sources and research believed to be reliable and MIC makes every effort to ensure that the information is accurate and up to date, but MIC accepts no responsibility and gives no guarantee, representation or warranty regarding the accuracy or completeness of the information quoted in the material. For reasons of succinctness and presentation, the information provided in the material may be in the form of summaries and generalizations, and may omit detail that could be significant in a particular context or to a particular person. Any reliance placed on such information by you shall be at your sole risk. Opinions expressed herein are current opinions as of the date appearing in this material only and are subject to change without notice. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No representation is being made that any account, product, or strategy will or is likely to achieve profits, losses, or results similar to those discussed, if any. This information is provided with the understanding that with respect to the material provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. MIC shall not have any liability for any damages of any kind whatsoever relating to this material. You should consult your advisors with respect to these areas. By accepting this material, you acknowledge, understand and accept the foregoing. No part of this document may be reproduced in any manner, in whole or in part, without the prior written permission of MIC, other than current MIC executives. Should you wish to obtain details regarding the various sources or research carried out by MIC in the compilation of this marketing presentation please email [email protected] McGill Investment Club 37.
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