The Perfect Investment




Course Work

Value Based Research




The Perfect Investment


The Environment

Why the Market is smarter than you think

As in life, It is all about expectations

The Investment Opportunity

The Perfect Company

The three value drivers

Return on Capital - ROIC

Sustainable Competitive Advantage

Value Creation through growth

Management - Execution and Capital Allocation

Valuation - the key is low expectations

The Tools

Financial Analysis (the three value drivers)

Non-Financial Analysis - Research Techniques (management and scuttlebutt)

Forensic Analysis

The Individual

Decision Making for Investors - Mental Models

The Compromise