Equity Research Analyst

Aristides Capital; Louisville (KY); On-site; USD 150,000 - 180,000; Full time

Benefits offered by this job

Medical insurance

Vision insurance

401(k) retirement plan

Relocation or signing-bonus assistance

Paid time off

Work-life balance

Job summary

Aristides Capital in Louisville, KY, is seeking an Equity Research Analyst to join its lean, investment-focused team. You will conduct fundamental research, model companies, and generate long and short ideas while collaborating with portfolio managers.

The role emphasizes ownership and flexibility, with direct access to the PMs and a base salary typically between $150,000 and $180,000, plus relocation or signing considerations.

Qualifications

• Bachelor's degree or equivalent experience.
• Approximately 2-7 years of post-collegiate professional experience in an investment-related environment.
• Experience in equity research, investment management, hedge funds, investment banking, private equity, or another highly analytical finance setting.
• Strong understanding of financial statements, accounting concepts, and company fundamentals.
• Ability to evaluate public companies and identify the most relevant information within financial filings, earnings reports, and management commentary.
• Strong analytical and critical-thinking skills.
• Genuine interest in financial markets and investing.
• Intellectual curiosity and a willingness to explore unfamiliar companies, industries, and investment strategies.
• Ability to independently manage research projects and follow ideas through from initial discovery to conclusion.
• Strong written and verbal communication skills.
• Ability to thoughtfully defend an investment thesis while remaining open to opposing viewpoints and new information.
• High standards of ethics, integrity, accuracy, and attention to detail.
• Ability to work primarily from Aristides Capital's Louisville, Kentucky office.

Responsibilities

• Generate and evaluate new long and short equity investment ideas.
• Conduct detailed fundamental research on public companies across a variety of sectors and market capitalizations.
• Monitor existing portfolio positions and provide timely updates on company-specific developments, earnings, industry trends, and changing investment theses.
• Review earnings releases, SEC filings, financial statements, footnotes, conference calls, and other primary-source materials.
• Build financial and valuation models when appropriate to support an investment thesis.
• Develop differentiated views from market consensus and clearly communicate the reasoning behind those views.
• Prepare written investment research and stock recommendations.
• Present and defend investment ideas to portfolio managers and other members of the investment team.
• Participate in the firm's daily investment discussions and communicate relevant market and company news.
• Attend investor conferences and meet directly with public-company management teams.
• Evaluate information from management meetings and identify details that may materially impact an investment thesis.
• Collaborate with portfolio managers and analysts across strategies rather than working within a rigid coverage structure.
• Contribute to proprietary research tools, datasets, screening processes, quantitative strategies, and other projects when relevant to your background and interests.
• Continuously generate new ideas, learn from rejected theses, and refine research based on feedback and new information.

Skills

Equity research

Financial analysis

Analytical thinking

Communication skills

Ethics and integrity

Investment mindset

Education

Bachelor's degree

Tools

Python

SQL

R

Job description

Aristides Capital is a Louisville-based long/short equity hedge fund managing approximately $500 million in assets. Founded in 2008, the firm has built a strong long-term investment track record while maintaining a small, collaborative team and an investment approach that blends fundamental research with quantitatively informed strategies.

Rather than operating under a traditional pod structure, Aristides takes a flexible, collaborative approach to investing. The team invests across a wide range of opportunities, from fundamental long and short equity ideas to quantitative strategies, and analysts are encouraged to explore new areas where they can create value.

The firm has six investment professionals within an 11-person organization and is intentionally structured to allow analysts meaningful access to portfolio managers, investment decisions, and the portfolio itself.

About the Role

Aristides Capital is seeking a smart, curious, and self-motivated Equity Research Analyst to join its investment team.

This is an opportunity for an investor who wants more ownership and flexibility than a traditional large-firm coverage model may provide. Analysts at Aristides are not limited to a fixed list of companies or a narrow investment mandate. Instead, they are encouraged to bring their existing expertise to the firm, learn Aristides' investment process, and expand into new sectors, strategies, and market opportunities over time.

The ideal candidate will bring strong investment judgment, financial analysis skills, intellectual curiosity, and a genuine passion for public markets. Prior buy-side experience is strongly preferred, although candidates coming from other rigorous investment or finance environments may also be considered.

You will work directly with the firm's portfolio managers and other analysts to research existing positions, generate new long and short ideas, evaluate companies, monitor news and earnings, meet with management teams, and contribute directly to investment decisions.

Because Aristides operates with a lean investment team, strong research can move quickly from an initial idea into the portfolio.

What You'll Do

• Generate and evaluate new long and short equity investment ideas.
• Conduct detailed fundamental research on public companies across a variety of sectors and market capitalizations.
• Monitor existing portfolio positions and provide timely updates on company-specific developments, earnings, industry trends, and changing investment theses.
• Review earnings releases, SEC filings, financial statements, footnotes, conference calls, and other primary-source materials.
• Build financial and valuation models when appropriate to support an investment thesis.
• Develop differentiated views from market consensus and clearly communicate the reasoning behind those views.
• Prepare written investment research and stock recommendations.
• Present and defend investment ideas to portfolio managers and other members of the investment team.
• Participate in the firm's daily investment discussions and communicate relevant market and company news.
• Attend investor conferences and meet directly with public-company management teams.
• Evaluate information from management meetings and identify details that may materially impact an investment thesis.
• Collaborate with portfolio managers and analysts across strategies rather than working within a rigid coverage structure.
• Contribute to proprietary research tools, datasets, screening processes, quantitative strategies, and other projects when relevant to your background and interests.
• Continuously generate new ideas, learn from rejected theses, and refine research based on feedback and new information.

Qualifications

Required

• Bachelor's degree or equivalent experience.
• Approximately 2-7 years of post-collegiate professional experience in an investment-related environment.
• Experience in equity research, investment management, hedge funds, investment banking, private equity, or another highly analytical finance setting.
• Strong understanding of financial statements, accounting concepts, and company fundamentals.
• Ability to evaluate public companies and identify the most relevant information within financial filings, earnings reports, and management commentary.
• Strong analytical and critical-thinking skills.
• Genuine interest in financial markets and investing.
• Intellectual curiosity and a willingness to explore unfamiliar companies, industries, and investment strategies.
• Ability to independently manage research projects and follow ideas through from initial discovery to conclusion.
• Strong written and verbal communication skills.
• Ability to thoughtfully defend an investment thesis while remaining open to opposing viewpoints and new information.
• High standards of ethics, integrity, accuracy, and attention to detail.
• Ability to work primarily from Aristides Capital's Louisville, Kentucky office.

Preferred Qualifications

• Previous experience at a hedge fund, asset manager, or other buy-side investment firm.
• Experience in a risk-taking investment environment.
• Demonstrated expertise within a particular sector or industry.
• Experience conducting public-company management meetings or participating in sell-side conferences.
• Experience researching both long and short investment opportunities.
• Knowledge of smaller-capitalization or underfollowed public companies.
• Experience with corporate actions, stock loan, options, or short-selling mechanics.
• Quantitative investment or trading experience.
• Familiarity with Python, SQL, R, or other programming and data-analysis tools.

What We're Looking For

Aristides Capital is looking for someone who genuinely enjoys investing.

The strongest candidates are intellectually curious, naturally skeptical, comfortable digging deeply into companies, and willing to develop an opinion that differs from market consensus when the research supports it.

You should also be comfortable having your ideas challenged. The investment team routinely debates theses, asks questions, and works to identify what may have been overlooked. Being able to clearly distinguish what you know from what you do not know is highly valued.

This role may be particularly attractive to an investor who has developed strong training and sector expertise within a larger investment organization but wants greater autonomy, broader investment exposure, and a more sustainable long-term environment.

This position is based in Louisville, Kentucky, and the successful candidate should expect to work from the office the majority of the time.

The firm does provide some work-from-home flexibility when appropriate, but this is not intended to be a fully remote position.

Aristides is open to relocation candidates and may provide a negotiated signing or relocation bonus depending on the candidate's circumstances.

Aristides Capital expects the base salary for this position to generally fall between $150,000 and $180,000, although compensation is flexible for the right candidate and will be based on experience, current compensation, and overall fit.

Benefits include:

• Medical insurance
• Vision insurance
• Employer-paid health coverage for employees and eligible family members
• 401(k) retirement plan with employer contributions
• Relocation or signing-bonus assistance when appropriate
• Competitive paid time off
• A collaborative work environment with a strong emphasis on work-life balance