I get asked regularly how to win an IR award. You can’t ‘enter’ our awards – investors and analysts in the survey can vote for any listed company they choose. So how do you win?
In the comments of tens of thousands of investors over the years, the same qualities rise to the surface again and again:
Are you on the winning track? Investors and analysts have voted, the nominees have been announced, and tomorrow night, at our 16th annual IR Magazine US Awards, we’ll reveal the best of the best. Look out for our other annual awards in Europe, Brazil, Russia, Canada and Asia.
And now seven things I didn’t know seven days ago
Here’s what I learned at our sixth annual West Coast Think Tank in Palo Alto last week:
1. IROs have noticed ISS has been making a lot of mistakes lately, which may be due to some key M&A researchers leaving and thus governance experts working double-duty.
2. IROs are scathing about the proposed ‘fifth analyst call’, especially that it would be co-chaired by an investor and couldn’t be listened to by the public. ‘In their dreams,’ scoffed one.
3. While they’ve started engaging with proxy decision makers, IROs are also exerting influence on say-on-pay through existing relationships with portfolio managers and buy-side analysts.
4. More companies have started issuing supplementary commentary between the earnings release and earnings call so they have more time for Q&A.
5. No one has replicated the excellent post-roadshow feedback Bear Stearns used to provide: a small booklet, delivered promptly, with actionable feedback for management about the presentation and strategy.
6. Investment banks are so busy right now – and they lost so many good people in the financial crisis – that the calibre of roadshows for IPOs and secondary offerings is ‘horrendous’. They need more help from IR when working on deals.
7. IROs are happy to hit the road with analysts who have a hold on their stock. It’s a chance to change their mind, and besides, a hold is a good buying opportunity – buying on a buy is often too late.
More of this week’s articles include:
Top US IROs reveal what they wanted to be at school
A few anecdotes from last week’s New York NIRI meeting
May replaces Howard Ungerleider, who moves to Dow’s new plastics division
Companies with venture backing do better, particularly early on