About
About BSVI
BSVI — Bocconi Students Value Investing is a student association focused on equity research and value investing, combining financial analysis with industry and strategic understanding to produce rigorous, fundamentals-based investment insights.
Mission and structure
Our main goal is producing rigorous equity research through a collaborative process that integrates financial analysis, business strategy, and industry expertise. The association is organized into three key divisions that work together on research projects.
Finance Division
Handles valuation models, financial statement analysis, and quantitative frameworks to determine intrinsic value.
Sector & Strategy Division
Analyzes industry dynamics, competitive positioning, and strategic decision-making to assess business quality.
Management
Coordinates the research process, ensures collaboration between divisions, and oversees the final report production.
Semester workflow
Our research process follows a structured timeline throughout the semester, combining training, collaboration, and presentation.
Introductory meeting
Company introduction, team setup, and establishment of the research framework.
Four in-person meetings
Development of analysis and collaboration between Finance and Sector & Strategy divisions.
Final presentation meeting
Presentation and discussion of the final equity research report.
Finance Division
The Finance Division focuses on valuation and financial analysis, providing the quantitative foundation for our research.
Standard Valuation
Traditional market-based valuation
Value Investing Model
Fundamental value and market expectations
- Financial statement analysis
- Intrinsic value estimation
- Business economics
- Price vs value disconnect
- Revenue and FCF forecasting
- WACC / beta / cost of capital
- Sensitivity analysis
- Revenue and margin structure
- Capital allocation and leverage
- Earnings waterfall and reclassification
- DCF
- Trading comps
- Transaction comps
- No-growth vs speculative value
- Implied growth
- Risk scenarios
Valuation range and recommendation
Expected returns and implied expectations
Fair market value
Challenge the market price
Standard Valuation
Traditional market-based valuation
Analytical focus
Financial statement analysis • intrinsic value estimation
Core tasks
Revenue and FCF forecasting • WACC / beta / cost of capital • sensitivity analysis
Key tools / models
DCF • trading comps • transaction comps
Main output
Valuation range and recommendation
Decision lens
Fair market value
Value Investing Model
Fundamental value and market expectations
Analytical focus
Business economics • price vs value disconnect
Core tasks
Revenue and margin structure • capital allocation and leverage • earnings waterfall and reclassification
Key tools / models
No-growth vs speculative value • implied growth • risk scenarios
Main output
Expected returns and implied expectations
Decision lens
Challenge the market price
Sector & Strategy Division
The Sector & Strategy Division provides the industry-level and business-level foundation for the report, ensuring all conclusions are data-driven and supported by quantifiable evidence. It works in coordination with Finance throughout the process to build a comprehensive analysis.
1) Company, industry, and competitors
Company introduction, where it operates, market size/growth, concentration, legislation/trade policy, product/service characteristics, substitutes, clients, and marketing.
2) Suppliers, distribution, ownership, and barriers to entry
Supplier base, distribution infrastructure, geopolitical risks, ownership and management, short interest/shareholder activism, competitors, and barriers to entry.
3) Strategy, financial positioning, and market drivers
Corporate strategy and goals, risks, growth, plus capital structure/financial health and market drivers in coordination with Finance.
4) Final strategic synthesis
SWOT, PESTEL, and unique company considerations.
Integration
Finance builds the valuation framework, Sector & Strategy analyzes the business and industry, and Management coordinates the process. Together, they produce comprehensive equity research reports that combine quantitative rigor with qualitative insight.
Get involved
Explore our research, meet the team, or apply to join BSVI.