Business Model: How are they making money?

Investing Fundamentals : How To Find Multi-Bagger Investments, Grow Your Wealth & Achieve Financial Freedom

Course Intro (Start Here)

What is a Stock?

Asset Categories

Fastenal Case Study

Dr Niwes & The Calmness of Mind

Top Level Filters For Business Evaluation

Top level filters for business evaluation (3:22)
Business Model: What problems are they solving? (6:06)
Business Model: How are they making money? (8:57)
Competitive Advantages (11:06)
Types of Moats (7:28)
Total Addressable Market & Runway (7:54)

Getting to know the Management

Financial Statements Overview

Financial Statements: Profit & Loss Statement Part 1 (6:00)
Financial Statements: Profit & Loss Statement Part 2 (8:36)
Financial Statements: Balance Sheet Part 1 (5:42)
Financial Statements: Balance Sheet Part 2 (5:48)
Financial Statements: Cash Flow Statement (7:54)

Analysis of Financial Statements, Ratios & Operating Performance

Profitability Ratios: Gross Margin & Operating Margin (8:07)
Profitability Ratios: PBT, PAT, Interest Cover & Payout Ratio (6:29)
Cashflow ratios (3:48)
Financial Health Ratios (7:49)
Efficiency Ratios (9:26)
Efficiency Ratios: FA Turn & Asset Turn (4:55)
Evaluating Operating Performance (23:15)
The step-by-step analysis of the return on equity (16:35)

Quick Risk Check

Quick Risk Check Part 1 (6:55)
Quick Risk Check Part 2 (6:27)
Quick Risk Check Part 3 (3:53)
Quick Risk Check Part 4 (5:10)
Quick Risk Check Part 5 (1:51)
Quick Risk Check Part 6 (7:56)

Business Valuation - Calculating Intrinsic Value of a Business

Time Value of Money (12:14)
Discounted Cashflow Analysis - Introduction (5:19)
Discounted Cashflow Analysis - Steps 1 & 2 (12:41)
Discounted Cashflow Analysis - Step 3, 4, 5 & 6 (17:39)
Discounted Cashflow Analysis - Step 7 , 8 & 9 (27:21)
Relative Valuation (22:47)
Valuing companies with subsidiaries, associates & investments (like JD.com) (48:23)
Effect of Jump In Inflation On Business Value

Identifying Long Term Compounders

What does long term returns really depend on (22:15)
How to calculate RoIIC (16:13)
Framework For Thinking Of Share Buybacks
Quantifying the impact of share buybacks to shareholders (using Bank OZK as example) (8:58)
Putting it all together - The long term compounder (16:31)

Portfolio tracking

Supplementary Videos/Material

The Right Way To Think About Market Corrections (12:25)
Is Your Dividend In Your Best Interests? (18:47)
Fooled by EBITDA (7:49)
How My Portfolio Went For a Joy Ride: Part 1 (7:50)
How My Portfolio Went For a Joy Ride: Part 2 (10:25)
The Best Investment of My Life (7:52)
How to Survive a Stock Market Crash (8:12)
Investing: How to Avoid Being Overwhelmed (12:08)
Don't get stuck with your valuation sheet (11:07)
How Share Buybacks Help You as an Investor (31:25)
Capitalisation of Leases / Capital Lease Vs Operating Lease - Response to Subscriber Query

All Supporting Documents

Tutorial: 2021 April - How to value SaaS or platform companies?

Part 1: Introduction (4:52)
Part 2: SaaS companies (4:22)
Part 3: Concepts in the SaaS space (1:40)
Part 4: Annual recurring revenue (ARR) (4:31)
Part 5: Retention - Retention rate & churn (14:05)
Part 6: Retention - Net dollar retention (NDR) (24:27)
Part 7: Reinvestment (GAAP expenses) (2:35)
Part 8: Rule of 40 (5:48)
Part 9: LTV to CAC ratio (9:54)
Part 10: TROI (8:24)
Part 11: Summary of SaaS concepts (2:20)
Part 12: Q&A on SaaS concepts (6:13)
Part 13: Valuing SaaS companies (45:25)
Part 14: Other discussions (36:45)
Excel: Reinvestment model template (Upwork)

Tutorial: 2021 Jun - Research process & Evaluating management

Part 1: Introduction (5:30)
Part 2: Research process (64:12)
Part 3: Evaluating management (30:57)
Part 4: Outcome of good research process (35:10)
Part 5: Q&A (26:21)
Wix: Financials Excel (As of June 2021)

Tutorial: 2021 Jul - Cash flows, NWC, & GAAP vs non-GAAP

Meetup (MRS + IF) - 2021 November - JD Logistics, JD Health, earnings updates & portfolio questions

Part 1 - Introduction & overview of JD.com (11:27)
Part 2 - JD Logistics (27:11)
Part 3 - JD Health (23:18)
Part 4 - Company earnings & updates (37:32)
Part 5 - Q&A on MRS companies (32:14)
Part 6 - Portfolio & general investing questions (48:17)

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