A recent report from Bloomberg Intelligence indicates that Wall Street's equity research teams have experienced a reduction of over 30% in analyst headcount over the past decade, falling from nearly 4,600 to approximately 3,000. This decline is attributed to various factors, including the rise of artificial intelligence, passive investing strategies, and stricter regulations. As a result, remaining analysts are often required to cover significantly more companies, leading to concerns about the quality of research. Additionally, salaries for analysts have decreased by 30% from pre-crisis levels, prompting some former Wall Street analysts to shift to alternative platforms like Substack. The report also highlights a growing gap in coverage for smaller companies, particularly those in the Russell 2000 Index, where the number of firms with fewer than 10 analyst recommendations has surged by 70% over the past decade. The evolving landscape raises questions about the future of traditional market analysis.