Hello Najim,

I really like how you characterized my advice as considering yourself as an analyst, even if you are not working at an IM firm. That was exactly how I felt prior to getting work as an analyst. I would never of characterized this article as that, but you summed it up very well, and that is genius advice to everyone: think and act like an analyst until you are an analyst.

How to start? That is a very difficult question to answer. I would say follow your curiosity and your ignorance. I began by reading "Security Analysis on Wall Street" by Graham. However, I did not have a good foundation at the time, and it really pushed me intellectually, and required that I learn accounting along the way, along with valuation. Tom Brakke has a wonderful book for aspiring young analysts. Just execute a web search for his blog. Also, the comments section of this article has similar questions asked, and answered.

Regarding "low hanging fruit" type jobs. I would say aim to shoot your career arrow as close to the bright and shiny star you want to land on as you can. In my case, I got a job as an analyst intern at a pension consultancy. I was then offered a job by that firm. However, I leveraged that offer into a research analyst job at an investment manager. I avoided a "back office" job at an investment manager. In the U.S. you get quickly labeled in the industry: "Well you can analyze midcap stocks, but what do you know about large caps?" This is ridiculous. If you have the intellectual firepower to analyze, the specifics of it are easy to pick up. Duh! Not sure how the industry is where you are living. But ask a pro in your part of the world this same question. Which brings me to...

You nailed it regarding the mentoring. There is no elegant way to do it. You are at the tender mercy of whomever you ask, and they know it. But most people in the industry like to counsel people about how to enter the business. Yes, go to your local CFA chapter and ask as many questions as you can...and listen...and evaluate. This is likely to lead to your best compass headings, navigational charts, and course corrections. Also, why not approach investment managers you admire that reside not in your local CFA Society. Find a way to contact these folks and ask for their assistance. In all likelihood you will never hear from them, but if you do, it could change your life. To borrow from your quantum riff...collapse the wave. You want to be in superposition, and have someone collapse your wave...become real in the office of the firm of your aspiration.

Yours, in service,

Jason