Chef-turned-analyst basks in spotlight
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Song Chi-ho
By Kim Jae-won
This is the age of chefs. They have become popular with the public for their intriguing ways of cooking. It is difficult to watch TV these days without coming across shows featuring chefs.
And people in the securities industry are no exceptions.
Song Chi-ho, an analyst at eBest Securities, is gaining popularity thanks to his unique career. He worked as a chef at Italian restaurants in Seoul before joining the brokerage house earlier this year.
Since then, he has drawn attention from investors with his fresh perspectives on the beverage and food industries based on his experiences. His reports dubbed “Chef Song’s market note” are popular among investors for their practical ideas and analysis.
“I’m happy to provide information to investors about how markets are moving based on my experience,” said Song.
“Investors seem to like my style because they can learn from real stories, not like from those reports focusing mostly on bunches of numbers.”
For instance, in his July 1 report on Shinsegae Food, he expected the company’s stock price would rise to 240,000 won from 184,000 won thanks to E-mart Town in which the company’s food shops were installed.
“Shinsegae Food will attract people to E-mart Town through its Peacock brand. Shinsegae seeks to inform customers about the restaurant brand for the long-term,” Song stated in the report.
Peacock is the restaurant brand run by Shinsegae Food. Both Shinsegae Food and E-mart are subsidiaries of Shinsegae Group.
As Song expected, shares of the company were traded at 215,000 won Monday morning, coming close to his target of 240,000 won.
He said that it was tough to work as a chef due to the long hours and small paychecks, but it helped give him an edge as an analyst. He encouraged young jobseekers to find what they really want and try something they are passionate for.
His report on running small restaurants also gained popularity among investors and those who want to start their own business. He said the restaurant business is promising, but people need to be careful when starting a restaurant because though it can be high return, it is clearly high risk.
Song also pointed out that many private equity funds (PEFs) are buying restaurant chains and finding new business opportunities there. According to his report, both local and foreign PEFs, including Vogo and Morgan Stanley PE, are joining the industry.