Blog #7: Sell-Side Analysts Discourse Community

Understanding my interests and professional goals in the financial industry narrowed my decision on what discourse community to research. When looking at the fundamentals of investing, there is a foundation that decisions are rooted to; analysis of information. The professional career title for this is called sell-side analyst.

As a finance major I’m passionate about investing and the aspects that encompass being a successful analyst. The analyst will typically build models to project the firms’ financial results, as well as speak with customers, suppliers, competitors, and other sources with knowledge of the industry – Simpson CFA. This may be unappealing to some people, but I’ve always enjoyed networking and not having to sit at the same office cubical day in and out. Also, the fact this job requires one to constantly keep up with current and future trends makes no two days the same.

To truly determine sell-side analysts as a discourse community, I broke it down by John Swale’s Six characteristics:

   1. [It has] a broadly agreed set of common public goals.

      -In practice the job of an analyst is to convince institutional account to direct their trading through     

        the trading desk of the analyst’s firm. The analyst must be seen by the buy-side as providing      

        valuable services. Crucial factor of an analyst is to be the first to the client with new and  

        different information.

   2. [It has] mechanisms of intercommunication among its members (such as newsletters or journals).

      -Internal: Direct contact with management, meetings, conference calls,

      -External: Reports, News Appearances, Corporate Access Events

   3. [It] utilizes and hence possesses one or more genres in the communicative furtherance of its aims.

      - news appearances, websites, magazine articles, journal articles, blogs, etc

   4. [It] uses its participatory mechanisms primarily to provide information and feedback.

      - News letters or FAQ webpage

   5. In addition to owning genres, [it] has acquired some specific lexis.

      -consensus estimates, investment rating and reporting vs. revised, “whisper number”

   6. [It has] a threshold level of members with a suitable degree of relevant content and expertise.

      - associate, senior associate, assistant vice president, senior analyst, managing director.

After analyzing the six characteristics, I can see a slight degree to which sell-side analysts are a discourse community. To further see the extent and support my niche stance I will be interviewing people who work in this field on Wall Street both by telephone and via email.

After reading Mirabelli description of multiple literacies, not just reading… but things such as reading people, I have developed questions to uncover how this is present in the role of a sell-side analyst. For example, quantitative, qualitative, and trends are known aspects applied by analyst, but how are they essential and accomplished? How do you read the market? What motivates investors / buy-side? From a situational standpoint, how do you react to pre-market vs open-market vs closed-market? Also how much does current events in the news affect your day-to-day operations? These are potential questions to understand the significance of multiple literacies in this discourse community.

Continuing the structure of my research, Wardle’s breakdown of identity, authority, and learning to write in the new workplace opened my mind to find out what its really like to enter this discourse community. Although I have relatives and friends in this field, applying detailed questions about their career will help me mentally prepare for this profession. For example, what licenses to acquire; Series 7, Series 86/87, Series 63? How do you keep a work life balance? What are the best ways to advance career path? How did you or still do build your identity through engagement, imagination, and alignment?

“Authority, then, is an intangible quality granted to a persons through institutions, which renders their pronouncements as accepted by those in that institution’s communities of practice, but which must be maintained through individuals’ speech and actions” –Wardle’s (526). This essential aspect is priceless in the analyst world. The reports, projections, actions, and speeches can make or break the reputation of an analyst. Therefore, I’m very interested in understanding how an analyst protects and builds their authority within this discourse community.

Looking forward, I am still not sure on the niche of my paper. I know there is much controversy on the value or how people overlook the sell-side of equity research, so one stance I developed is: The public often overlooks the value of the sell-side analysts, yet their role has many behind-the-scenes aspects that are directly related to success of the buy-side investment managers.

By the end of next class I hope to have my niche established and then be able to start my primary research.

Blog #6: My Identity Kit (Real or Mushfake?)

The human nature to connect and become proficient in a new discourse is both challenging and rewarding. At times, individuals are in a position where he or she may have to ‘mushfake’ their presences to obtain validation. Within a business pitch meeting, ‘mushfaking’ is a fine line to walk, the difference between being taken seriously or as a joke.

At an early age I developed a business type mindset, where whatever I want in life I would have to create my own path to success. After attending Philadelphia University for one year, I decided to drop out in pursuit of starting my own business. From this initial commitment, I had “partial acquisition coupled with meta-knowledge and strategies to make-do” (13).

Young and ambitious, I knew my strengths and weaknesses. Thereby I needed a partner to counter the areas in which I did not excel. My best friend growing up was the right fit, for we are both similar and different in the areas essential for a consumer entertainment-based business.

Although we both had previous work experience, we were far from knowing what starting and running a successful business truly entailed. Upping the ante, our business plan was based in the Cayman Islands. Clearly this was going to be no easy feat, but we knew proper planning prevents poor performance.

Financially our business would require an investment from venture capitalists, thus we had to build a professional business plan and presentation. Setting the pitch meeting six months away put everything in perspective.

To curb the level of ‘mushfaking’ we spent endless hours on researching and developing each aspect of our business plan: the cover page, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan. The reality of the situation was initially overwhelming, but as we expanded our knowledge we felt more confident. Fast forwarding, one week before the pitch we wanted to add more credibility to the business plan and ourselves. We decided to ‘mushfake’ our business name by falsely presenting it as trademarked. Also, generally professional people have business cards, so we created and printed out some on an offhand software. Looking back, lets just say the thought is what counted!

The Pitch! Walking in, suit tie binder laptops, we were feeling nervous but our passion and excitement solidified our confidence; strong positive body language. Our presentation went well overall, but the realization of ‘mushfaking’ was soon uncovered from the venture capitalists through critical questions. How would currency exchange play into the profits based on that the Cayman Islands use KYD? How much time have we actually spent in the Cayman Islands to understand the market? Why not branch onto an already established business, less risk and barriers to entry?..etc.

Not knowing or have even thought about some of their questions did hinder us, but a respect factor for us remained strong. If anything, the questions they presented allowed them to uncover the areas where they could give us guidance. They supported us and our idea, but the first thing they needed was for us to actually move to the Cayman Islands to understand the industry first hand. They also recommended to expand our knowledge and language that we should read The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup by Noam Wasserman and The Portable MBA in Entrepreneurship by William D. Bygrave, DBA & Andrew Zacharakis, PhD.

Taking their advice we planned out our move to the Cayman Islands. However, right before leaving my business partner’s mother was having health issues. As a result, we ended up putting things on hold, which lead to things falling apart and ending this business plan.

Looking back I wouldn’t change a thing, for what I learned from that experience still encompasses who I am today. The knowledge from not only the work and research put into the business plan, but also from ‘mushfaking’ is invaluable to my current venture. Additionally, I have worked higher-level jobs where I had to manage people and essential aspects to the companies. Parallel to those jobs, I have also gained perspective and language from my college courses.

My past and current life experiences are evolving me from a once aspiring entrepreneur ‘mushfake discourse’ to simply now a discourse. I believe one will always have to ‘mushfake’ it in some aspect because the world, people, and industries are in a constant state of progression. The only way to curb this is to define what ‘IT’ is to you, then as Amy Cuddy states, “don't fake it till you make it. Fake it till you become it. Do it enough until you actually become it and internalize.”

Blog #5: Discourse Communities and Communities of Practice: Membership, Conflict, and Diversity

The pursuit of happiness entails making sacrifices that are not always easy, but seem to be justified through many means. Expanding into different discourse communities is where many face personal and emotional challenges. Academically, Ann describes in her article Discourse Communities and Communities of Practice: Membership, Conflict, and Diversity the tradeoffs, “can create personal and social distance between them and their families and communities” (511).

Family is everything to me, above all else. They are the reason behind my actions and choices. As I strive towards my future endeavors, I had to sacrifice distance in order to take the next step in my journey.

Attending SDSU was a major decision for me because my family resides in Philadelphia, PA.  Since transferring last semester, I find myself missing them more than I anticipated. Although FaceTime, phone calls, and texts help with communication, there is still nothing that can replace physically interaction.

In order to not get caught up in the emotional tradeoff, I strive in developing the justification of this step in my life – networking. Surrounding myself with the right people is essential to turning dreams into reality. 

Although SDSU offers a great business program, my purpose is to directly connect with the San Diego Regional Economic Development Corporation (EDC). The focus and mission of the EDC as a discourse community is parallel to my  “social, political, professional, and recreational interests” (503).  Thus, a bind has developed between my academic community and professional community.

Socially, I’m a very personably individual. SDSU’s campus encompasses numerous demographics, but I have yet to connect with anyone with a similar ‘game-changer’ business mindset. Within the classroom environment, few business professors have presented material that is relevant to the way the real world works. The material covered is redundant, as such many calculations and projections are computed by systematic software. This leads to unrealistic way of testing, aka memorize and hope for the best! These factors are what have driven me to disconnect with the academic community.

Clearly I have what Johns deems “community conflict and diversity” as I have decided to “remain affiliated at levels” of my own choosing. I believe in the value of a degree, just not necessarily the current curriculum involved. In a way this may be an issue with authority based on Prior’s explanation of “an elite group that imposes its language, beliefs and values on others through control of journals, academic appointments, curricula, student examinations, research findings and so on” (1994, p. 522).

Moving forward I’ve molded my view of the academic discourse community as an objective to add credibility to my name, but not the place for networking. Self-aware of the professional real world, my time is dedicated to the “language, practices, values, and genres” (511) within San Diego Regional EDC.

More so the reason I relocated to San Diego is because of the lifestyle, entrepreneurial individuals, and the EDC’s mission to maximize the region’s prosperity. The combination of these aspects is the right formula to bring my business plan into reality. Though easier said then done, the time I’ve invested out here so far has been more rewarding and is shaping me into the man I envision.

Compared to the North-East, San Diego is physically and mentally a better place to live; from being more health conscience, to the personable people, and above all else is that San Diego is a Smart City. If you are unaware of what a smart city is then here is a snap shot, “where technology, talent and innovation create a new urban environment - one that will emerge as a leading city in the 21st century.” In a sense, San Diego is a ‘discourse city’ in that its leading other cities to adopt it's proven ways of operating.

As my journey continues here in San Diego I will be immersed in many different discourse communities, all on different levels that will allow for unique experiences. Most importantly, as my goal evolves into a reality, I will be that much closer to giving back and taking care of my family – for they are why I’m investing my time here.

Blog #4: John Swales and the Discourse Community

After reading “The Concept of Discourse Community” by John Swales, I decided to research more about him. John Swales was a Professor of Linguistics, which means he devoted his life to the study and understanding of language. He was born in Surrey, UK. At a young age Swales knew the value of education. He attended various private schools. In 1957 Swales graduate with a Psychology degree from Cambridge University. Upon graduating John taught at prestigious universities around the world. In 1985 John accepted a position at the University of Michigan. John retired there in 2007 but remains a Professor Emeritus of Linguistics as well as an active scholar.  

John Swales “The Concept of Discourse Community” establishes one of the first concrete definitions for the meaning of a discourse community. It fundamentally distinguishes the difference between a speech community and a discourse community. Swales argues that a speech community is a group that shares similar linguistic goals. He disputes this in saying it allows communities to share knowledge and interpret speech, and there members are inherited. However, Swales argues that in a discourse community, their members are recruited and not inherited by luck or tradition. Discourse communities gain acceptance by persuasion, teaching, lessoning, and training.

Swales goes on to outline many differences between speech communities and discourse communities. He states that there are “six defining characteristics” in defining a discourse community:

1.    “A discourse community has a broadly agreed set of common public goals.”

2.    “A discourse community has mechanisms of intercommunication among its members.”

3.    “A discourse community uses its participatory mechanisms primarily to provide information and feedback.”

4.    “A discourse community utilizes and hence possesses one or more genres in the communicative furtherance of its aims.”

5.    “In addition to owning genres, a discourse community has acquired a specific lexis.”

6.    “A discourse community has a threshold level of members with a suitable degree of relevant content and discourses expertise.”  

In reading these six characteristics, Swales establish the true definition for a discourse community. He clearly states the differences between speech communities and discourse communities. Swales clearly discusses and explains in depth his issues with speech communities and validates his position for discourse communities. However, even in his final remarks Swales states that discourse communities members may change their views, they do not have to. Opposed to in a speech community, where followers are likely to be close together and accept the norm.

Reflecting on this article in more depth, I have seen the merit in John’s article. From college campuses, to places of employment, and even the state we live in, discourse communities are all around us. I’m a member of The Evolution Group, which is an online structured financial education company. At the core, this group allows for individuals to connect and strategies on different avenues to manufacture economic independence. Though many people seek to be financially free, our group has committed to the practices and steps set forth in our community. There are multiple ways to communicate; weekly emails, live video-conferences, rolodex to elite professionals, and publications on current financial events. Amongst the genres, there is the use of analyzing the trials and tribulations of successful entrepreneurs. Per the focus of wealth management, I find that the specific lexis is at times dense financial terminology that is not used on a usual daily basis outside this community. The most essential part that sets this group apart is the unique strategies not promoted or offered at the corner bank down the street. The expertise of the leading individuals includes CEOs, CFOs, Entrepreneurs, and Lawyers. I believe The Evolution Group represents a discourse community at it structures a different approach to economic independence.

Discourse communities engulf us, sometimes knowingly but more often unknowingly. After reading many other posting in this blog, I would say that I disagree with the majority, saying this reading was dry or boring. Yes, in the beginning it was, but after reading it again and reflecting on it, you truly see the scholar of John Swales. I believe that he is truly a great Linguistics professor, teacher, and scholar.

Blog #1: Creating My Identity Kit

Actions Speak Louder Than Words! Thus my identity as James Grande has evolved over time through my life experiences and surroundings. Ultimately my persona will be best understood by highlighting the trials and tribulations of my life story.

Starting with my childhood, I grew up in the traditional family household in a Pennsylvania suburban town. The youngest of four and the only boy, I had the opportunity to learn in many aspects as a result of the love and support from my parents. I was involved many activities such as; sports, state competitions, motocross, and an overall helping hand with construction projects. Although I never developed into a ‘top runner’ in these opportunities, I began to establish an identity of a renaissance man.

As I pursed to be good in all aspects of life, I found myself falling short in connecting socially with kids in grade school. I have always been a little ahead of my time, thus I was more of an outcast during my childhood. At the time, I hated who I was. I thought there was something wrong with me. The one thing humans desire most, being socially accepted, essentially began to cripple me.

Over time, I saw my social situation as a blessing in disguise. The beauty of being different is a value that allows one to gain more versus if one is ‘to stay in their lane.’ 

Fast forward to graduating high school in 2009, I tried the cookie cutter path of attending college. However, after one year of college I found myself not following my own beliefs. There by I dropped out of college and began to work various jobs.

The magic of life is in the mystery that you never know which moment is going to change it. In 2012 it was a road trip across country from Pennsylvania to California that would be the catalyst for resuscitating my very own life. The roadmap to my own destiny unfolded as I hit the open road with my friend, California dreaming of our final destination. On the road I witnessed many varying lifestyles and topographies, connected with the locals along the way, and reevaluated my own perception of life. I spent months being inspired by the California lifestyle and its entrepreneurial opportunities, and then I made the decision to return to Pennsylvania and chart my course back to California at San Diego State University.

Academically, I continued my education at Bucks County Community College. This experience afforded me the chance to refine my time management skills, build great relationships with my professors, and brainstorm with the business department in how to promote the current image of the college. Making the commitment to my education, I achieved the academic distinction of Dean's Honor List and was also inducted into the national honor society, Phi Theta Kappa.

Professionally, I have found my passion is in the business industry. In my last profession as a financial representative, I helped individuals actualize their dreams through successful financial planning. Whether taking a vacation once a year, getting out of debt, setting up retirement plans, or saving for their family's future, I help my clients’ turn their dreams into attainable goals. The dynamic momentum in my schooling and career propelled me to my next tenacious goal, graduating from San Diego State University.

Transferring to SDSU this past fall semester has been a significant step in my pursuit towards my future endeavors. As a Finance major my knowledge in understanding the global economy is being furthered developed. Essentially this is paving the road for my desire to make a difference in the world.

Starting conservatively, I’m deeply inspired to make a local impact by developing community betterment programs through the San Diego Regional Economic Development Corporation and business program's resources. 

My passion, fueled by being goal oriented, to becoming a ‘game changer’ is constantly being met with numerous obstacles to overcome. Recently, I’ve been recovering from a three week concussion which has not been easy, but overall has pushed me harder to take my dreams and turn them into my reality. 

The aspiring entrepreneurial road is not easy; it requires stamina just to merely travel it. However, it has taught me that every moment is an experience on the fringe of life-changing, and trailblazing that frontier and its infinite potential is what deeply inspires me to live receptively, tenaciously, and intently. As a professional ‘dream-maker’ I have a keen awareness for complementary relationships and based on the success of its graduates, ‘Leadership Starts Here’ - SDSU College of Business Administration.