Yinan Zhao Investing & Financial Modeling
Dive into the fundamentals of equity research and financial modeling. Analyze a real public tech company, assess risk and competitive position, build valuation models, and present a full investment memo and pitch to an industry panel.
11 weeks
Starts
October 13, 2025
How do experienced professional investors decide which companies to invest in?
In this externship, you'll step into the role of an equity research analyst guided by experienced investor Yinan Zhao. Learn the fundamentals of equity investment by analyzing real tech software companies, dissecting financial statements, assessing market sentiment, and building valuation models. By the end, you'll confidently draft and present an investment memo, deciding whether to buy or sell a stock just like professional analysts do.
Project Output
Present and communicate your investment thesis to an investment committee.
- Financial Statements Analysis: Analyze SEC filings and company financial reports to determine financial health and identify key risks.
- Macroeconomic & Industry Trends: Investigate macroeconomic conditions and industry-specific trends influencing stock market performance.
- Risk & Catalyst Identification: Identify potential risks and market catalysts that could impact company valuations and stock performance.
- Trading Activity & Analyst Ratings: Review insider transactions and analyst ratings to gauge investor confidence and market sentiment around the company.
- Financial Model Development: Construct robust valuation models to forecast financial performance and price targets.
- Investment Memo & Presentation: Prepare professional, detailed investment memos and present recommendations clearly to stakeholders.
Get Started Today
What past Externs have to say
"Extern played a crucial role in bridging the gap between my formal business education & real-world application. The opportunity to present actionable recommendations to the Head of Customer Insights at Beats by Dre was invaluable, propelling my leadership journey and paving the way for my current role at Rolls-Royce.”
“I credit the Externship as the sole reason I was hired to intern at AT&T. I had never heard of the AT&T internship program and would never have applied to it if I hadn’t gone through the Externship. It allowed me to develop my skills, showcase my work and ultimately stand out so I was awarded the opportunity to interview the CEO of AT&T!”
"The Externship is a great way to introduce students to what it is like to work on a project. I became a lot more data-focused and analytical in my approach. As an industrial engineering major, people questioned how the externship was related to my studies. My journey has shown me that you don’t have to be limited by your major."
“During my venture capital externship, I learned how to use industry-standard metrics and tools like SQL and Tableau to determine startup success potential.This opportunity helped me stand out as a candidate and opened new doors for me - including offers from EY and Accenture."
“If I hadn’t done a VC externship during term time, I know I’d be spending hours watching YouTube videos just to understand which careers I might enjoy! I don’t think I fully understood the value of an externship till I actually did one and now I want to argue that externships should be a part of the college experience for every student.”
“My Externship really changed my career trajectory. As students, we often chase after Fortune 500 work experiences, but the intimate experience of getting to work with a startup can actually really help you learn a lot and level up what you can bring to the table. My cohort even had the opportunity to speak with the founder of Crafted Capital and learn from his firsthand experience.”
Skills You'll Gain
Conduct thorough and targeted research on potential investments.
Interpret and applied insights from alternative datasets for investment analysis.
Apply techniques including Discounted Cash Flow (DCF), comparable company, and precedent transactions.
Assess competitive landscape and advantages for the chosen investment target.
Your Schedule
11 weeks
Project 1
—
Basics of Equity Research & Company Selection (Weeks 1-2)
Project 2
—
Company Deep Dive with 10-Ks and Management Insights (Weeks 3–4)
Project 3
—
Analyzing Competition, Risks & Catalysts (Weeks 5–6)
Project 4
—
Building the Financial Model (Weeks 7–8)
Project 5
—
Valuing the Company and Developing a Price Target (Weeks 9–10)
Project 6
—
Crafting and Presenting Your Final Investment Memo (Week 11)
Get Started Today
Additional Externship Opportunities
Real Estate Finance, Modeling & Valuation Externship
8
Weeks
Part-Time & Fully-Remote
Apply by April 30, 2025
Real Estate Finance, Modeling & Valuation Externship
8
Weeks
Part-Time & Fully-Remote
Apply by April 30, 2025
Real Estate Finance, Modeling & Valuation Externship
8
Weeks
Part-Time & Fully-Remote
Apply by April 30, 2025
