What a Research Analyst Is (And What an Analyst Is Not)

Editor's note: This piece is the first in a three-part series about the state of analyst research. Look for the next two installments on Tuesday and Wednesday.

There was a time when the term securities analyst was unambiguous. It was a man or woman who gathered all sorts of information about particular stocks -- from basic financial data to arcane tidbits about the competition -- and analyzed all these factors to come up with investment advice for brokerage clients. ...