Happy to announce admission to the January 2024 batch of my most comprehensive classroom course in Value Investing titled – Value Investing Blueprint.
This residential course is scheduled to be held from 11th to 14th January 2024, at the campus of Pune-based FLAME University. The last date to apply is 10th December, 2023.
Click here to read more and apply if you are interested in joining this course.
Since it’s a classroom course, seats are limited.
The course will take you through the entire process of practicing value investing to identify long term wealth creating stocks. This includes helping you:
- Create the right value investing mindset and build a behavioural framework to avoid biases and create the right investment thought process.
- Assess business quality – separating good from gruesome
- Analyze financial statements to find well-performing businesses
- Calculate intrinsic valuations using various methods
- Identify competitive moats and whether they are sustainable
- Build a portfolio of sound, wealth-creating businesses
Program Outline
Module I
Focus – How compounding works, fundamentals of value investing, how to think about the stock market, how to deal with Mr. Market
- Value investing 101 and the idea of compounding
- How to think about the stock market
- Lessons from history of financial markets
- Key focus on the ideas of long-term compounding, why Ben Graham’s big ideas of Mr. Market and margin of safety matter, how to think about great and gruesome businesses, moats, capital allocation, and price vs value.
- Key ideas like looking at simple businesses, researching stocks well, and focusing on risks, and paying the right prices
- What has worked well in investing, how to think like the world’s best investors, introduction to multidisciplinary thinking
Module II
Focus – Complete focus on the behavioural side of investing and studying cognitive psychology for minimizing mistakes that often hurts investment decision making
- Human (mis)behaviour and causes of misjudgement
- Mental models in a value investor’s toolkit
Module III
Focus – Analyzing businesses carefully, understanding what makes few businesses great, some good, and most gruesome, how moats are constructed, how few of them sustain over long period of time, how most others lose their way, importance of staying within circle of competence, looking at a business as a moving picture.
- Businesses – great, good, gruesome, and how to differentiate between them.
- Studying some successful listed Indian businesses using the lens of learning created in this module –
- What has made these businesses succeed over the years?
- How have they built impregnable moats? Was it business quality? Was it great management?
- Will their moats sustain into the future? Why? Why not?
Module IV
Focus – Financial Statements Analysis. Learn the language of business i.e., accounting, how to analyze financial statements, identify connections between them, how to detect financial frauds
- How to read annual reports
- Analyzing financial statements – Income statement, Balance Sheet, Cash Flow Statement
- Most important numbers and ratios
- Assessing management quality – How numbers help
Module V
Focus – “Intrinsic value is fuzzy but very important,” said Warren Buffett. Keeping this in mind, learn how to value businesses using simple models
- Understanding value, and why not everything can be valued
- Myths and truths of valuations
- Concept of present value
- Intrinsic valuation vs relative valuation
- DCF – Calculation process, do’s and don’ts
- Few other simple valuation methods
- Valuation case studies of listed Indian companies
- Margin of safety – Key ideas and sources of margin of safety
Module VI
- Building investing checklists
- Other Key Ideas (like concentration vs. diversification, when to sell, immutable laws of investing, deadly sins of investing)
Disclaimer: Case studies on specific companies are created purely for educational purpose only.
The course is suitable for individuals who are just starting off on their investment journey or are into the early phase of the same. It will be a value add:
- If you are willing to learn to practice the core principles of Value Investing to pick stocks and how to make them work for you
- If you are looking to build your own investment philosophy based on what has worked for the world’s best investors over the past few decades
- If you are willing to learn and understand the most important concepts of business and financial analysis, and valuations
- If you are willing to learn a stress-free way of wealth creation from stocks
- If you are willing to learn and understand the practical, time-tested concepts of behavioural finance
The course is not suitable for you if you are looking for concepts and ideas in Technical Analysis, Derivatives, or speculation/stock trading. Also, there won’t be any stock recommendations/tips provided during the course. Applicants should carefully consider these points before applying for the course.
The last date to apply is 10th December, 2023.
Accommodation will be provided in an AC, single occupancy room to all participants at the FLAME campus in Pune for three nights of January 11, 12 and 13, 2024.
Click here to read more and apply if you are interested in joining this course.
FLAME is also organizing a couple of other courses which may be of interest to you –
- Equity Analysis for Beginners with Jatin Khemani (December 14 – December 17, 2023)
- Behavioural Economics with Sanjay Bakshi (February 01 – February 04, 2024)
If you have any questions on my course, please ask by replying to this email or send a message to – vishal@safalniveshak.com.
For details on the other courses, please check their respective links.
If you know someone who may benefit from either of these courses, please share with them.
Thank you for your time.
Regards, Vishal
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