About
An independent research desk, built on one principle: follow the analysis.
Alpine Asset Research Group produces institutional-grade equity research free of the conflicts that shape sell-side coverage — no banking mandates, no trading book, no house view to protect.
Alpine Asset is led by Eric Liu, an equity research analyst covering the green energy and infrastructure sectors. He founded the firm to publish the kind of research an investor would actually want to read: transparent about its assumptions, honest about what it doesn't know, and unafraid to land on a Neutral or Sell when the numbers say so.
Eric builds every report from the ground up — a full three-statement model, a valuation fit to the company's structure, and a thesis that traces cleanly from assumptions to conclusion. Coverage centers on the energy & utilities sector, where the interplay of regulated returns, renewable buildout, and structural demand growth rewards deep, patient analysis.
He holds an MS in Finance (STEM) and a BBA in Finance from Baruch College's Zicklin School of Business — graduating with a 3.97 GPA and induction into Beta Gamma Sigma. Before founding Alpine, he built integrated financial models supporting valuation, forecasting, and capital-raising as a financial analyst in New York.
How the research is made
A repeatable process, applied one company at a time.
Build the model
Reconstruct the business from filings into a full three-statement model — every forecast tied to an assumption you can audit.
Value it to fit
Apply the valuation the business calls for — discounted cash flow, sum-of-the-parts, or peer multiples — segmenting where different assets carry different economics and risk.
State the view
Land on a rating and target with the catalysts and risks that would change it — clearly enough to hold us accountable.