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फंडामेंटल एनालिसिस

Course Structure

Value Investing क्या होता है

Philosophy of Value Investing

Evolution of Value Investing

Our Approach

Warren Buffett’s 4 Filter Approach


Lecture Outline

Investing In a Business

Threat of New Entrants

Bargaining Power of Customers

Bargaining Power of Suppliers

Porter 5 Forces

Competitive Rivalary

Applying Porter’s 5 Forces


Types Of Moats

Real Product Differentiation

Intangible Assets Brands

Intangible Assets Regulatory Licenses

Intangible Assets Patents & Intellectual Property

Switching Costs

Type Of Moats Cost Advantages

Econimic Scale

Cheaper Access To Resources

Product Based Cost Advantages

Determining A Moat

Durability Of A Moat

Avoiding False Moats


Lecture Outline

Page Industry Real Product Differentiation

Colgate-palmolive (India)-brands

Solar Industries-regulatory Licences

BOSCH LTD – Patents And Intellectual Property

HDFC BANK – Switching Costs

INFO EDGE (INDIA) LTD – Network Effects

Lecture Outline

Container Corporation of India- Economies of Sale

Coal India - Cheaper Access to Resources

Ambuja Cements- Process Based Coast Advantages

Suzlon Energy- False Moat

Lecture Outline


Balance Sheet

Profit & Loss Statement

Cash Flow Statement

Cash VS Accural Accounting Method

Notes to Financial Statement

Introduction to Financial Ratio

Profitability Ratio- Operating Profit Margin

Return Ratio- Return On Equity

Debt Ratio- DEBT to Equity

Liquidity Ratio- Current Ratio

Asset Utilization Ratio- Fixed Asset Turnover

Cash Flow Ratio- Operating Cash Flow To Sales

Valuation Ratios- Price to Earnings


Financial Statements & Ratios Maruti Suzuki

Return on Equity

Dupont Analysis


Hindustan Unilever

National Mineral Development Corp


Identifying Accounting Red Flags

Dubious Related Party Transactions

Satyam Scam

Distortive Depreciation Practices

Misrepresentation Of Revenues & Costs

Spurt In Debtors & Inventories

Contingent Liabilities

Concentrate On Cash



Role Of Management

Qualities of Management

Management background inspection


Lecture Outline

Management Compensation

Management Way of Running Business

Extravagant Use of Company Funds

Herd Mentality

Process Oriented Culture


Treatment of Minority Shareholders MNCs and Subsidiaries

Promoters Greed & Recklessness Can Ruin a Great Business

Management and Valuation


Behavioral Finance & Stock Market

Behavioral Finance & Value Investing

Inside The Human Mind

Four Quadrants Of Awareness


Need for Portfolio Analysis and Asset Allocation

What is Modern Portfolio Theory

Why is Modern Portfolio Theory flawed

Portfolio Management Graham Approach

Portfolio Management Buffett Approach


What Is A Stock Screener

Types Of Stock Screeners

Benjamin Graham Stock Screeners

Warren Buffett Stock Screener

Magic Formula Stock Screener

Things To Keep In Mind

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