Our Worldview
As anyone in the industry knows, the equity research business is in a state of flux. The old model of using investment banking and trading revenues to support top-salaried research analysts is faltering in the wake of recent scandals, and top research talent is fleeing large investment banks en masse. The net effect is that fewer and fewer companies have access to coverage from a top professional, and in many cases the research coverage that is available is of a declining quality. However, for those companies that are committed to maintaining a liquid and fairly valued market for their shares, having high quality research coverage has never been more important.

We believe that research coverage is a service like any other, in that it varies in quality and price, and that it must be paid for. Since very few individuals have the aptitudes, skills, and knowledge to become highly competent research analysts, these analysts have traditionally commanded very high compensation in the marketplace. However, the changing regulatory environment is causing structural shifts in the equity research business that make it uneconomical for banking and trading firms to use such highly compensated individuals to cover most companies. This creates a pronounced gap in the market – all companies need high quality research coverage to maintain access to new capital, liquidity, and a fair value for their stock price – but for most companies the prevailing economics no longer incentivize banking and trading firms to provide such coverage.

We founded Harbinger Research to fill this gap.

We are 100% focused on delivering the absolute best research coverage available, and the result is compelling – consistent coverage from industry-expert analysts, and a very well-written research Coverage Initiation piece consisting of insightful analysis, cogent arguments, and in-depth financial models. We invite you to view samples of our research and see for yourself why we have such confidence in our service and in our people.