BSVIBocconi Students for Value Investing

About

About BSVI

Bocconi Students for 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.

Structure

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.
01

Finance Division

Handles valuation models, financial statement analysis, and quantitative frameworks to determine intrinsic value.

02

Sector & Strategy Division

Analyzes industry dynamics, competitive positioning, and strategic decision-making to assess business quality.

03

Management

Coordinates the research process, ensures collaboration between divisions, and oversees the final report production.

Each semester

Semester workflow

Our research process follows a structured timeline throughout the semester, combining training, collaboration, and presentation.
  1. 1

    Introductory meeting

    Company introduction, team setup, and establishment of the research framework.

  2. 2

    Four in-person meetings

    Development of analysis and collaboration between Finance and Sector & Strategy divisions.

  3. 3

    Final presentation meeting

    Presentation and discussion of the final equity research report.

Division

Finance Division

The Finance Division focuses on valuation and financial analysis, providing the quantitative foundation for our research.

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
Residual income model · Implied growth · Scenario analysis
Main output
Expected returns and implied expectations
Decision lens
Challenge the market price

Division

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. 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. 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. 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. 4

    Final strategic synthesis

    SWOT, PESTEL, and unique company considerations.

Integration

How it comes together

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.

Apply to joinView reportsMeet the team