This is the foundational part of the course, where you'll build the essential skills to analyze any business with confidence. This section moves beyond surface-level metrics to teach you how to identify which metrics are important on different types of businesses, and how to analyze them. This isn't just about theory; it's about giving you the tools to become a more intelligent and confident investor.

In this section, you'll learn to:

• Master the Financial Statements: Learn how to analyze a company's Balance Sheet, Income Statement, and Cash Flow Statement. You'll understand how these three documents work together to reveal key things about the business and its management.

• Evaluate Key Performance Metrics: Go beyond simple P/E ratios. Discover the most important metrics to use for different types of businesses and learn when to apply them for the most accurate insights.

• Translate Ratios into Yields: Understand how to convert traditional price ratios into yields. This is a crucial skill for comparing different investments and helps you think about stocks in terms of their future returns, just like a bond.

• Connect Macro to Micro: Learn the critical relationship between bond yields and stock valuations. This will give you a deeper understanding of how the broader economic environment impacts stock prices and intrinsic value.

• Grasp Intrinsic Value: Develop a robust and practical framework for thinking about intrinsic value. You'll learn how Warren Buffett and Benjamin Graham think about intrinsic value, and why and how their methods still apply today.

• Understand What Drives Returns: Uncover the key inputs that actually impact stock prices, and cause them to go up. This will help you understand what is worth focusing on, and what's noise.

This section is dedicated to developing the proper mindset for investors to navigate market volatility and turn it into an advantage. You'll learn that volatility is a natural part of investing and, contrary to popular belief, falling prices can actually reduce risk and create incredible buying opportunities. By exploring real-world examples and the timeless wisdom of investing legends, you'll learn to look past the short-term noise and emotionally-driven headlines to focus on the long-term fundamentals of a business.

What You'll Learn:

• The Difference Between Risk and Volatility: Understand that stock price fluctuations (volatility) are not the same as risk. You'll see how falling stock prices can actually lower the risk of a business by increasing the yield it offers to investors, while rapidly rising prices can make a stock more risky and expensive.

• Emotional Discipline: Discover how to overcome the natural human tendency to buy when stocks are rising and sell when they are falling. You will learn to disregard the fear and pessimism in the headlines that cause stock prices to fall, and instead make decisions based on logic and fundamental analysis.

• The Power of Opportunity: Analyze case studies of major companies like Meta and Amazon during periods of significant price declines. This section will show how these downturns created massive opportunities for long-term investors who were willing to buy when others were fearful. You will also examine how the broader market, like the S&P 500 during the Great Recession, bottoms on "max fear," not when the news is good.

• Long-Term Perspective: Learn from the insights of Benjamin Graham and Warren Buffett, including Buffett's famous "Buy America. I am" article. This section emphasizes that the long-term trend of the stock market is upward despite short-term turmoil, and that focusing on the long-term profitability of sound companies is key to success. You will learn that you can't time the market and that holding cash is a "terrible long-term asset" that will lose value to inflation.

Welcome to the heart of my investment strategy. In this section, we focus on what I call the holy trinity of investing, which is Moat, Management, and Margin of Safety. I make sure that every stock I buy has all 3 of these key components, and in this section, we learn how to identify and analyze them.

To put it simply, if a business has a moat that protects it from competitors, a strong management team that knows how to create shareholder value, and a margin of safety in its purchase price, then you can significantly reduce your risk and increase your return potential.

In this section, you'll learn to:

• Identify and Analyze a Company's Moat: Discover what an economic moat is and why it's the single most important factor for long-term investing success. You'll learn to spot the different types of moats and analyze their strengths, ensuring you invest in businesses with a sustainable competitive advantage.

• Evaluate a Company's Management: Learn to critically analyze the people running a business. These lessons will teach you how to assess management's integrity, competence, and alignment with shareholder interests. You'll discover how to spot red flags and find leadership teams that you can trust with your capital.

• Determine a Margin of Safety: Understand the concept of a margin of safety—the crucial principle that protects you from overpaying for a stock and shields your portfolio from unexpected risks. You'll learn practical methods that Benjamin Graham and Warren Buffett use to ensure they're paying a fair price.

• Synthesize the 3 Ms: We'll bring everything together by applying the "3 Ms" to real-world examples. You'll see exactly how my investment strategy works in practice by showing you stocks I personally have purchased, and how I applied the 3 Ms to the decision.

This is where theory meets practice. In this section, we will apply every concept and framework you've learned so far to a series of comprehensive, real-world case studies. You won't just be watching; you'll be actively participating in a live analysis of real companies, mirroring the exact process I use in my own investing.

During these deep dives, which are over an hour each in length, we will:

• Analyze the Financials: We'll meticulously go through the Balance Sheet, Income Statement, and Cash Flow Statement to understand the company's financial health, historical performance, and key trends.

• Identify the "3 Ms": We'll scrutinize the business to identify its moat (competitive advantage), evaluate the quality and track record of its management, and determine a potential margin of safety for a hypothetical purchase.

• Evaluate Qualitative Factors: Beyond the numbers, we'll dive into the business's historical track record, its competitive landscape, and other qualitative factors that are critical to understanding its long-term potential.

• Form a Conclusive Investment Thesis: We will synthesize all the information to build a clear and compelling investment thesis, demonstrating how all the pieces of our analysis fit together.

By the end of this section, you'll have a tangible blueprint for how to conduct your own comprehensive stock analysis, giving you the confidence and skill to identify high-quality businesses on your own.

Knowing when to sell a stock is just as critical as knowing when to buy. This section moves beyond the common mistake of "buy and hold forever" and provides you with a clear, actionable framework for exiting your positions with discipline. You'll learn to remove emotion from your selling decisions and replace it with a logical, systematic approach.

In this module, you will learn the four primary reasons to sell a stock:

• When Your Investment Thesis Changes: Discover how to identify when the core reasons you bought a stock are no longer valid. You will learn to spot fundamental shifts in a business or its competitive landscape that warrant a sale.

• When a Stock Becomes Extremely Overvalued: Understand how to recognize when a company's price has soared well beyond its intrinsic value. We'll explore metrics and warning signs that indicate a stock has entered "bubble" territory, signaling a rational time to take profits.

• When You Find a Better Opportunity: Learn how to think about your portfolio in terms of opportunity cost. We'll discuss how to compare new, more compelling investment opportunities against your current holdings, and when it makes sense to sell one to fund another.

• When to Rebalance Your Portfolio: Master the art of portfolio management by understanding when and how to rebalance. You'll learn how rebalancing can help you manage risk, lock in gains, and maintain your desired asset allocation over the long term.

This section will be solidified with real-world examples from my own portfolio, demonstrating exactly when and why I sold specific stocks based on these four principles. By the end, you'll have a systematic and disciplined approach to managing your exits, which is a key component of long-term investing success.

This section is dedicated to the additional videos I am making to add onto the existing course. There will be multiple videos that don't fit into a specific category that go into this section. I believe these videos are extremely useful and will further advance your investment knowledge.