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西方国家
The 95-member Crédit Agricole Cheuvreux team captures the crown for a fifth year running
Laurent Poinsot&Teamca cheuvreux.
second teamVincent Laurencin, Jean-Christophe Liaubet & teamExane BNP Paribas
third teamJean-Françoisdelpech&团队Oddo.
亚军FabriceThéveneau和团队SOCGEN.
The 95-member Crédit Agricole Cheuvreux team captures the crown for a fifth year running. Led by Paris-basedLaurent Poinsot.那47, the team earns praise from investors for its "idea generation," "excellent client service" and "insights on issues specific to France" — the latter attribute being especially important in a year when the nation’s broad market plunged 42.1 percent. Despite the harsh economic environment, the researchers were able to identify moneymaking opportunities. They upgraded France Télécom to buy in June, at €17.45, after its bid for Swedish rival TeliaSonera was rejected; the researchers considered the acquisition ill-advised. Shares of France Télécom had risen 14.4 percent, to €19.96, by year-end. Holding steady in second place for a fifth consecutive year is the 85-analyst Exane BNP Paribas troupe. Co-captained byVincent Laurencin在伦敦和Jean-Christophe Liaubet在巴黎,分析师“总是在现场,访问商店和管理层,以便他们对业务脉冲有手指,”观察一位货币经理。在金融服务部门缺乏流动性,团队将比利时 - 法国银行德国在6月份的低表现形式下降,以€13.65。9月,银行收到了比利时,法国和卢森堡政府的资本输送,但其股价继续下滑,以€3.20结束,损失为76.6%,落后于广阔的市场45.5个百分点。从亚军升起到第三名是50强的Oddo证券队指导Jean-François Delpech。The analysts, who are based in Paris and Lyon, "know what’s going on behind the scenes," says one backer. The liquidity crisis prompted the team to downgrade investment bank Natixis in February, at €7.25. By December 31 the stock price had plummeted to €1.25.
德国
andreas neubauer.& teamDeutsche
second teamGeorg Remshagen & teamDresdner Kleinwort.
连续13年,andreas neubauer.44岁的飞行员斯穆特的德意志银行(Deutsche Bank)中队h landing at No. 1. The 32-member team, with offices in Frankfurt and London, enjoys a sterling reputation for across-the-board coverage of 160 stocks. "They’re the only address you need for German and Austrian equities," declares one buy-side admirer. With Germany’s economy spiraling downward last year — the nation’s broad market fell 44.5 percent — many of the team’s most astute calls were negative. For example, the team believed that Commerzbank’s acquisition of Dresdner Bank, announced in August, was on "unattractive terms" and posed "execution risk," so they advised clients to sell the Frankfurt-based financial services firm’s stock in September, at €20.09. In late October, after the share price had plunged 67.4 percent, to €6.55, the analysts upgraded the stock to hold, on valuation. It ended the year at €6.64. Unranked last year, the six-strong Dresdner Kleinwort team, led by newcomerGeorg Remshagen那finishes second. The analysts, with offices in Frankfurt and London, downgraded jewelry distributor Bijou Brigitte Modische Accessoires to sell in January 2008, at €111.33, because of a slowdown in consumer spending on luxury goods. In late October, after the share price had slid 44.6 percent, the team upgraded it to buy, dubbing it a bargain at €61.70. By December 31 it had surged 34.5 percent, to €83.00. "The analysts have a knack for getting out in front of their peers — they’re very pro-active," says one appreciative investor. No firm garnered sufficient support to merit a third-team ranking.
伊比疟
Bosco Ojeda&团队瑞银
second teamJesúsGómez.& team桑坦德
Repeating in first place is the UBS team guided byBosco Ojeda.那35, who oversees three analysts in Madrid and one in Porto, Portugal. "They have an amazing understanding of the macro situation, which they distill down to specific stock views," says one buy-side fan. Spain’s stock market tumbled 40.0 percent last year, so it’s no surprise that some of the team’s best calls were sell recommendations. One example: The analysts initiated coverage of NH Hoteles with a sell rating in January 2008, at €11.82, reasoning that the business-hotel operator would experience a slowdown as worldwide economic troubles spurred a cutback in corporate travel. They were right. The stock ended the year at €3.69, falling 68.8 percent. The analysts upgraded energy conglomerate Acciona in November, at €64.60, on rising demand for the company’s environmentally friendly wind turbines. By the end of December, Acciona’s share price had gusted 37.8 percent, to €89.00. It’s two straight years at No. 2 for the 14-strong Santander Investment Bolsa team under the direction of Madrid-basedJesúsGómez.。"They do a great job keeping us up to speed with news flow," says one money manager. In January 2008 the team upgraded biopharmaceuticals research company Grifols to outperform, owing to the "strong fundamentals of the blood-plasma industry and the potential for Grifols to gain market share," Gómez says. By year-end the stock was ahead of the broad market by 31.9 percentage points. No firm earned enough votes to warrant publication of a third team.
Ireland
巴里迪克森&团队戴维
The 18-member research team at Davy reclaims the top spot it last held in 2006, after finishing second in 2007 (no firm earned enough votes to warrant publication in 2008). Davy also has the category all to itself this year. The Dublin-based team, under the leadership of newcomer巴里迪克森41,“知道所有公司,以及管理层和政府的主要参与者,”一位货币经理说。爱尔兰经济被称为凯尔特老虎的动态增长,它在新千年中展出,去年跌得差失;迪克森说,ISEQ指数下降了66.2%,使其成为西欧最糟糕的市场之一,“迪克森说。即便如此,戴维团队也能够识别一些获奖公司。他们敦促投资者在预算航空公司解决涉及在线票价销售席位的争议之后,预算为€2.46,以€2.46在€2.46。到12月,股票上涨至2.97欧元,较广阔市场下降了20.7%,较广阔的市场下跌37.9%。另一个胜利者:10月份在CRH上购买建议,就建筑材料公司在2009年增加了美国基础设施支出的增加。年底,股票以来股票上涨了21.4%。迪克森于1994年在都柏林三一学院获得了MBA,曾在2000年加入戴维尼亚·佛义,担任亨纳尼亚生活和养老金的基金经理。去年2月他被命名为团队负责人,罗伯特凯尔赫搬迁到公司的私人客户师。
Italy
码头通过erone & teamIntermonte
second teamMatteo Ghilotti,Stefano Lustig&团队Equita
third teamRoberto Odierna&Teamunicredit.
赛跑者Mauro Baragiola & teamCiti;Marco Greco&TeamMediobanca;Matteo Ramenghi&Team瑞银
Unranked last year,码头通过erone他的18分析师,基于米兰的团队直接拍摄1;this is Intermonte’s first appearance in the top spot since 2002. Described by one portfolio manager as "good stock pickers in a very difficult year" — the MSCI Italy index tumbled 49.6 percent in 2008 — the team downgraded Banco Popolare Societa Cooperativa to underperform in January 2008, at €15.16, on concerns that the Italian cooperative bank’s low capital reserves would force it to sell assets to raise money. They were right. By year-end the stock had nose-dived to €4.95, a 67.3 percent drop that was 7.4 percentage points worse than the sector as a whole. Passerone, 36, joined Intermonte in 1996 after earning a bachelor’s degree in economics at the University of Turin. Falling one rung to second place is the 12-member Equita S.I.M. (formerly Euromobiliare S.I.M.) troupe under the direction ofMatteo GhilottiandStefano Lustig,谁“拥有非常大的覆盖范围 - 这就像一站式店铺,”一个投资者断言。去年,基于米兰的团队的最高选择是在5月17.52欧元的钢管制造商Tenaris上销售了关于钢管制造商Tenaris的推荐。到12月31日,股价跌幅为58.6%,达到7.26欧元。第三名是14强的Unicredit全球研究小队Roberto Odierna。根据一个客户,基于米兰的团队,去年不打击,尤其擅长“发现了很多工业公司的负面的负面”。消费消费消费放缓促使年长期销售电器制造商Indesit Co.和Motor-Scooter制造商Piaggio&Co的建议;2008年,股票分别下跌了59.6和43.8%。