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Principles Of Compounding With Bonds & Stocks

Course Intro (Start Here)

Start Here: Your First Step
Course Intro (2:24)
Course feedback

First Principles - Time Value Of Money

Time Value of Money (12:14)
The ‘Intrinsic Value’ Growth Vs Your Required Rate Of Return

Bond Fundamentals

Introduction To Bonds (22:26)
Understanding Bond Concepts (1:47)
Internal Rate of Return / XIRR Calculations (15:51)
Assumptions In The IRR Calculation (6:17)
Breaking Conventions (3:26)
Breaking Down The XIRR Calculation (7:02)
Yield To Maturity (YTM) Calculation Of A Bond (5:22)
Changes In Bond Price With Interest Rate (7:15)
YTM Calculation Of A Bond - Semi Annual Coupon (2:19)
Clean Price Vs. Dirty Price Of A Bond (15:19)
Introduction to Zero Coupon Bonds (2:31)
Coupon Paying Vs Zero Coupon Bonds (9:24)
Bond Duration (Macaulay Duration) (10:02)
Bond Convexity (11:05)

Equivalence in 'Economic Substance' Between Bonds and Stocks

First Principles - How Warren Buffett Thinks Of Bonds & Stocks, And Concept Of Owner Earnings (31:04)
Safest Way To Think About The Intrinsic Value Of A Great Business (3:34)
Equivalence Of PE Multiple, & Earnings Or Bond Yield of (Stocks Or Bonds) (2:57)

[Upcoming] Advanced Bond Alternatives

[Upcoming] Advanced Bond Alternatives

Framework For Compounding With Stocks

Framework For Compounding With Stocks (6:25)

Understanding Sources Of Long Term Portfolio Return

What Does Investment Return Depend On?
The Magic Of Owning A Portfolio Of Great Companies
The Art Of Doing Very Little

Devising An Optimal Investment Strategy

Part 1: Impact Of Type I & Type II Errors In Investing
Part 2: Improving Our Odds - Impact Of Reducing Type I Vs. Type II Errors

Return On Capital (ROC)

Why Does ROC Matter?
Difference Between Various ROC Metrics (26:55)
What Drives High Return On Capital Employed (ROCE)?
ROC On Incremental Capital (10:31)
How ROCE & Free Cash Flow (FCF) Conversion Are Linked (13:11)
Difference Between ROC Including Or Excluding Goodwill
Why We Look At Both ROC Including & Excluding Goodwill
Different ROC For Different Business Segments
Thoughts On Inflation & How Your Business Value Depends On The Excess Return On Capital Over And Above Cost Of Capital

Investing/ Thriving In An Uncertain World

Uncertainties In The World & How To Invest & Thrive (5:33)
Avoiding Companies That Are Fragile/ Not Resilient (15:22)
Avoiding Risks/ Red Flags (19:59)
Stress Testing (Company’s Balance Sheet/ Survival) (9:52)
Webinar: Red Flags & Forensic Analysis (Aug 2023) (55:07)

Owner Earnings (OE) Yield Valuation

Calculating Owner Earnings (OE) (27:24)
OE Yield Valuation (5:41)
Final Investor Return (From OE Yield Valuation) & Putting Everything Together (19:33)
Other Considerations For OE Yield Valuation (14:42)
Thoughts On Pre-Tax Owner Earnings Yield Compared With 10 Year Treasury Yield (With Alphabet As Case Study)

Portfolio Review

MoneyWiseSmart 5-Step Investment Portfolio Review
Webinar: Portfolio Review (Aug 2023) (32:38)

Capital Allocation

What Is Capital Allocation And Why It Matters In Compounding (12:21)
Management Of Capital Deployment (Assets Side) (21:23)
Management Of Capital Raising (Liabilities Side) (20:12)
Management Of Equity Retirement (Including Share Buybacks) (15:02)
Examples Of Good And Bad Capital Allocation Activities (4:50)
Discussions On Why Capital Allocation Matters & Share Buybacks
Capital allocation case studies - 1. Importance of return on capital & capital allocation (11:03)
Capital allocation case studies - 2. Evaluating long term shareholder return & buyback compounding effect (9:16)
Capital allocation case studies - 3. Capital allocation examples of different companies (11:33)
Capital allocation case studies - 4. Importance of strong free cash flows & return on capital (6:34)
Capital allocation case studies - 5. Example of good capital allocation [Prosus] (5:52)
Capital allocation case studies - 6. Overall comments on capital allocation (4:28)
Capital allocation case studies - 7. Capital allocation of Adobe & Alphabet (7:35)
Capital allocation case studies - 8. StoneCo's earnings & valuation (12:54)
Capital allocation case studies - 9. Shopify's and Wix's earnings & capital allocation (16:09)

Other Important Concepts

Working Capital – Hidden Timebomb or Hidden Goldmine? [Part 1 of 3]
Working Capital – Hidden Timebomb Or Hidden Goldmine? [Part 2 of 3]
Working Capital – Hidden Timebomb Or Hidden Goldmine? [Part 3 of 3]

Webinar: How To Improve Your Investing Strategy? (Apr 2024)

Webinar - 2024 April (Full session) (78:54)
Part 1 - Intro & How Best To Improve Investing Success (Commission vs Omission Errors) (28:21)
Part 2 - What's A Good Filter? High Revenue Growth (Tesla), Or High Historical ROCE? (13:46)
Part 3 - Not Overpaying For Uncertain Future (Zoom) (To Reduce Commission Error) (15:49)
Part 4 - Be Lazy & Selective (12:29)
Part 5 - MRS Company Updates (8:15)

Webinar: Estimating Future Growth (May 2021)

Part 1: Introduction (1:29)
Part 2: Can we estimate growth with certainty? (3:16)
Part 3: Reinvestment economics (17:43)
Part 4: Breaking things down (23:06)
Part 5: Evaluating implied growth (9:57)
Part 6: Investing in the midst of uncertainties (including portfolio compounding math) (12:08)
Part 7: Discussions (26:26)

Webinar: Uncovering Ugly Secrets In 'Good Businesses' (16 June 2022)

Part 1: Introduction, agenda & importance of return on capital (10:24)
Part 2: Portfolio businesses - What we see in them & business performance updates (31:58)
Part 3: Case studies - Ugly secrets (SEA Ltd & Wix) (38:21)

Webinar: The Not So Sexy Secrets of Investing - Insurance, Taxes & Transaction Expenses (21 Oct 2021)

Part 1. Introduction, undervalued StoneCo & reverse valuation (34:25)
Part 2. "Not So Sexy" Secrets of Investing - Insurance, options & our investment results (52:17)
Part 3. "Not So Sexy" Secrets of Investing - Tax & Leakage (22:44)

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