LESSON # 1 – WHY INVEST
WHY INVEST AT ALL, POWER OF COMPOUNDING, LAW OF THE FARM
LESSON # 2 – ARE YOU AN INVESTOR OR A SPECULATOR
HOW INTELLIGENT PEOPLE FALL INTO THE TRAP, WHAT IS INVESTING, WHAT IS SPECULATION, BEN GRAHAM ON INVESTING, SILLY CHARTS AND VOODOO PRACTICES, WHEN SHOULD YOU SPECULATE
LESSON # 3 – BEING A VALUE INVESTOR
WHAT IT MEANS TO BE A VALUE INVESTOR, IS VALUE INVESTING DIFFICULT, HOW TO BECOME A VALUE INVESTOR, WHAT MAKES FOR A GOOD VALUE INVESTOR, HOW ALL INTELLIGENT INVESTING IS VALUE INVESTING
LESSON # 4 – VALUE INVESTING PRINCIPLES
HOW VALUE INVESTING HAS EVOLVED FROM BEN GRAHAM TO WARREN BUFFETT, GRAHAM’S THREE PILLARS, DEALING WITH STOCK PRICE FLUCTUATIONS, SECRET OF SOUND INVESTMENT, WHAT BUFFETT LEARNED FROM JOHN BURR WILLIAMS AND CHARLIE MUNGER
LESSON # 5 – PSYCHOLOGY OF INVESTING
YOUR BIGGEST ENEMY IN INVESTING, HOW WE THINK, BIG BIASES IN YOUR BRAIN, HOW TO FILL HOLES IN YOUR BRAIN
LESSON # 6 – HOW TO THINK ABOUT STOCK MARKET
IS STOCK MARKET EFFICIENT, WHAT IS THE NATURE OF STOCK MARKET, KNOWING THE CHANGING ODDS, WHY YOU MUST KEEP YOUR COST UNDER CONTROL, BETTING OCCASIONALLY, HOW CHARLIE MUNGER THINKS
LESSON # 7 – HOW TO CREATE YOUR CIRCLE OF COMPETENCE
CONCEPT OF CIRCLE OF COMPETENCE, KNOW YOUR INCOMPETENCE, WHAT MATTERS MOST IN WHAT YOU KNOW, HOW TO EXPAND YOUR CIRCLE
LESSON # 8 – HOW TO GENERATE STOCK IDEAS
BUFFETT’S AGE-OLD ADVICE THAT WORKS, METHODS TO SCREEN FOR STOCK IDEAS, HOW TO USE GOOGLE SCREENER, EIGHT KEY QUESTIONS TO ASK
LESSON # 9 – BUSINESSES – GREAT & GRUESOME
THE GREAT BUSINESS, COMPANIES THAT THRIVE, A GREAT BUSINESS AS AN ECONOMIC FRANCHISE, THE WORST SORT OF BUSINESS, BEST FRIEND OF A GREAT BUSINESS
LESSON # 10 – UNDERSTANDING MOATS
CONCEPT OF LONG TERM COMPETITIVE ADVANTAGE, KEY TO PROFITABLE INVESTING, SOURCES OF ECONOMIC MOAT, HOW BIG IS BRAND POWER, SWITCHING COSTS, NETWORK EFFECT, LOW COST OF OPERATIONS
LESSON # 11 – HOW TO FIND GREAT BUSINESSES,
THE PETER LYNCH WAY
BEST IDEAS FROM ONE OF WORLD’S BEST MONEY MANAGERS, INVEST IN WHAT YOU KNOW, PETER’S PRINCIPLES, GREAT BUSINESSES AROUND US, GREAT STOCKS LYING IN PLAIN SIGHT
LESSON # 12 – ANALYZING FINANCIAL STATEMENTS
ASSESSING FINANCIAL HEALTH OF A BUSINESS, BALANCE SHEET ANALYSIS, READING THE INCOME STATEMENT, UNDERSTANDING CASH FLOW STATEMENT, WHY PROFIT ISN’T CASH, WHY CASH IS SO IMPORTANT
LESSON # 13 – RATIO ANALYSIS
UNDERSTAND RELATIONSHIP BETWEEN FINANCIAL STATEMENTS, ACTIVITY RATIOS, WHY LIQUIDITY MATTERS FOR A BUSINESS, HOW TO FIND A BUSINESS’ SOLVENCY, HOW GOOD IS GOOD PROFITABILITY, KEY RETURN RATIOS
LESSON # 14 – UNDERSTANDING VALUE
OPPORTUNITY COSTS, NET PRESENT VALUE, CONCEPT OF INTRINSIC VALUE, WHAT’S WRONG WITH HOW WE CALCULATE INTRINSIC VALUES, FALLACY OF PRECISION IN VALUE CALCULATION
LESSON # 15 – DISCOUNTED CASH FLOW VALUATION
THEORY OF INVESTMENT VALUE, DCF – PROBLEMS AND SOLUTIONS, DCF CALCULATION EXCEL, PREDICTING CASH FLOWS, DISCOUNT RATE, REVERSE DCF
LESSON # 16 – RELATIVE VALUATION METHODS
PRICE TO EARNINGS, PRICE TO EARNINGS GROWTH, PRICE TO BOOK, PRICE TO CASH FLOW, LIMITATIOINS OF RELATIVE VALUATIONS
LESSON # 17 – MARGIN OF SAFETY
BIGGEST SECRET OF SOUND INVESTMENT, WHAT YOU NEED MARGIN OF SAFETY, HOW MUCH MARGIN IS GOOD ENOUGH
LESSON # 18 – ASSESSING MANAGEMENT QUALITY
WHY STICKING TO PROVEN MANAGEMENT COUNTS, ATTRIBUTES OF GOOD MANAGEMENT, MANAGEMENT QUALITY CHECKLIST
LESSON # 19 – WHEN TO SELL A STOCK
A DECISION MORE DIFFICULT THAN BUYING STOCKS, PHILIP FISHER’S THREE RULES OF SELLING, DAD REASONS TO SELL, CHECKLIST FOR MAKING THE SELL DECISION
LESSON # 20 – POWER OF INVESTMENT CHECKLISTS
HOW CHECKLISTS SAVE LIVES, WHY INVESTING CHECKLIST MATTERS, COMPREHENSIVE INVESTING CHECKLIST
LESSON # 21 – HOW TO ANALYZE A BUSINESS,
THE SHERLOCK HOLMES WAY
BUSINESS ANALYSIS LESSONS FROM THE WORLD’S BEST DETECTIVE, POWER OF OBSERVATION, DRAWING INFERENCES FROM EVIDENCE, PROCESSING THE EVIDENCE, TESTING THE HYPOTHESIS, HOW WOULD SHERLOCK HOLMES ANALYZE BUSINESSES, ROADMAP ON HOW TO THINK
LESSON # 22 – FIVE DEADLY SINS OF INVESTING
COMPOUNDING YOUR COSTS, DANGERS OF FOLLOWING THE HERD, DEALING WITH FEAR, WORST OF ALL SINS, PROCESS VS OUTCOME
LESSON # 23 – VALUE INVESTING – THE MOST IMPORTANT THINGS
BIG IDEAS FROM HOWARD MARKS, SECOND LEVEL THINKING, UNDERSTANDING RISK, RELATIONSHIP BETWEEN PRICE AND VALUE, KNOWING WHAT YOU DON’T KNOW, APPRECIATING THE ROLE OF LUCK, WHAT CAUSES SUCCESS IN INVESTING
LESSON # 24 – A GUIDE TO READING FOR INVESTORS
DANGERS OF INFORMATION OVERLOAD, NEWSPAPERS OR SOAP OPERAS, WHY YOU MUST AVOID NEWS, WHAT TO READ IN INVESTING, BRAIN AS AN EMPTY ATTIC, BOOK RECOMMENDATIONS
LESSON # 25 – GO, COMPOUND!
JOYS OF COMPOUNDING, RETURN VS TIME, ONLY EDGE YOU HAVE, BUILDING WEALTH SLOWLY
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THE SAFAL NIVESHAK MASTERMIND
A FEW OTHER BIG IDEAS
10 QUALITIES OF GREAT INVESTORS
UNDERSTAND ACCOUNTING, ASSESS VALUE, KNOW HOW A BUSINESS MAKES MONEY, PROBABILITSIC THINKING, INFORMATION VS INFLUENCE, POSITION SIZING
A POWERFUL TOOL TO CREATE YOUR STOCK WATCHLIST
WHY PREPARATION IS KEY, CREATING A SIMPLE STOCK WATCHLIST
ANALYZE A STOCK IN 60 MINUTES
STOCK ANALYSIS SPREADSHEET, DANGERS OF RELYING ONLY ON MATH
HOW MANY STOCKS SHOULD YOU OWN
DIVERSIFICATION VS CONCENTRATION, LESSONS FROM GRAHAM, KEYNES, AND BUFFETT, TWENTY PUNCHES STRATEGY
WHY NOT TO SPECULATE DURING BULL MARKETS
– LESSONS FROM NEWTON AND DRUCKENMILLER
HOW NEWTON GOT KILLED AT THE TOP, WHY EVEN THE SMARTEST SPECULATE AND LOSE IT ALL
HOW TO GENERATE STOCK IDEAS
– AN UNUSUAL LESSON FROM A 1939 BOOK
PROCESS OF PRODUCTION OF IDEAS, POWER OF UNCONSCIOUS PROCESSING, ENGAGING SYSTEM SHERLOCK HOLMES, DECISION MAKING AS A PUZZLE