LINC

Research & Analysis

LINC R&A: Fundamental Analysis, Equity Research, M&A & Trading and Quantitative Research

With more than 40 student analysts, LINC R&A’s purpose is to provide the most ambitious students at Lund University with the adequate tools, a network, and the right skillset to break into the field of finance. During any given day of the semester, you will find several of our analysts in LINC’s Bloomberg Finance Lab, which is one of the largest within the Nordics.

Semester 1: In your first semester in the Research & Analysis program, you will join the Fundamental Analysis team. Here, you will learn the basics of analyzing stocks and understanding valuation methods in finance. The semester includes interactive lectures, challenging homework, and ends with creating and presenting a stock pitch. For those who enjoy math and finance, the Trading and Quantitative Research track might be the right fit, offering a deeper dive into numerical analysis within the financial field.

Semester 2: Building on your knowledge from the FA program, you will choose between continuing with Equity Research or exploring Mergers and Acquisitions (M&A). Each path offers different learning opportunities, allowing you to shape your education according to your career goals.

Fundamental Analysis

If you’re eager to grasp the fundamentals of business analysis, understand stocks, and valuation methods, Fundamental Analysis is the perfect starting point.

Equity Research or M&A

The Equity Research team is aimed towards students that possess an interest in stocks and investing. In M&A, you will delve into what makes a company an attractive acquisition target.

Trading and Quantitative Research

What is high-frequency trading? What is risk management? Learn more about a quantitative career in finance.

Why should you join?

R&A is a unique offering within LINC that aims toward educating the most ambitious students at Lund University within the field of finance. R&A acts as a complement to the academic approach taught by the university. Thus, R&A teaches the analysts how to apply theoretical concepts in a practical environment, and enables them to learn key skills applicable in finance that are not taught by their study discipline. In-part due to the knowledge gained through R&A, previous analysts have received offers from prestigious firms like Fidelity Investments, Goldman Sachs, JPMorgan, Deutsche Bank, ABG Sundal Collier, BNP Paribas, Nomura, SEB, Nordea and more.

Oscar Isacsson

Head of Research & Analysis

Research@linclund.com

Applications open fall 2026

Applications for the Spring 2026 semester of Fundamental Analysis are closed. Applications for the Fall semester will open in September.

To get in contact with us, feel free to come down to LINC’s Bloomberg Finance Lab, as there will almost all of the time be members of R&A in the lab that are willing to answer any questions you might have. You find the lab in the lower level of the main building of the School of Economics and Management at Lund University (Tycho Brahes väg 1, 223 63 Lund) – alternatively, feel free to send an e-mail to research@linclund.com for any questions. For questions regarding Trading & Quantitative Research, contact tqr@linclund.com .

Software applied in our research

Recently Published R&A Reports

What price will Bitcoin hit in 2025?

In this project, analysts Carl Nordahl, Alexander Ihrfelt and Alfred Hultgren investigate whether crypto prediction market contracts can be valued using traditional derivatives pricing methods. Focusing on Polymarket contracts tied to the question “What price will Bitcoin hit in 2025?“, they model the contracts as one-touch barrier options and compare a closed-form approximation with a Monte Carlo framework using EWMA volatility and jump-diffusion dynamics.

Portfolio Optimization and Shrinkage

In this project, supervised by AP3, analysts Alexander Nilsson, Peder Persson, and Samuel Eriksson investigate whether Mean-Variance Optimization (MVO) can be enhanced by shrinking the off-diagonal elements of the covariance matrix. Utilizing a 20-year dataset, they backtest models incorporating spectral filtering and shrinkage techniques to assess the robustness and practical feasibility of the optimization process.

Intraday SEK Dynamics

In this project, supervised by SEB, analysts Ludvig Cederlund, Sofie Melander and Malcolm Cederbaum investigate how the EUR/SEK exchange rate can be predicted using market data along with proprietary trade data from SEB. Utilizing the XGBoost model, they work on a 10-minute frequency to perform binary classification of short-term price direction.

Regime-Dependent Macro Exposures in Emerging Market Bond ETFs

In this project, supervised by OQAM, analysts Vilhelm Hilding, Jacob Fransson and Dag Vallien investigate how global macro conditions drive the returns of two emerging market bond ETFs: EMB (USD-denominated) and EMLC (local-currency). Using a rolling linear factor model, they estimate time-varying exposures to equity markets, US dollar strength, interest rates, credit sentiment, commodities, and volatility across a 10-year period.