What Investor Wish Were Different About Their Sales Coverage
BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
BW asked investors the question: "What do you wish was different about sales coverage in general? Are there any trends you think are worrisome or laudable in Street sales practices?" Below are a sampling of responses.
* "I wish [sales pros] were better equipped to compare and contrast the different proprietary dealer shelves surfacing within the MBS market."
* "I wish they would all just Bloomberg unless they have a good joke to tell."
* "Most don't take ownership over a customer's portfolio. I want my sales coverage to be engaged in helping us make money and most are simply not there."
* "Not enough original idea generation, too much email."
* "Too many are whiners about slow business levels. They need to remember that they will make 90% of their money in 10% of their time."
* "Don't call a client and say 'what's going on?'--they are supposed to be telling me what's going on so I can get a trade going."
* "The focus on new issuance troubles me because while the Street gets paid the most to push new issues, they then drop their support for the secondary market."
* "The number of phone calls and generic Bloomberg 'blasts' is excessive. More business would get done by making an effort to listen to the clients and tailoring offerings to better suit these needs."