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Level 2 · M.Sc

Fundamental Analysis & Value Investing

Syllabus · 46 phases · ~1 year

Every unit this programme teaches, in the order it is taught. Headlines only — the material itself opens once you are enrolled.

Dates, price and prerequisites

1. Phase 0 Foundations, tooling & the valuekit anchor
2. Phase 1 The investor's frame
3. Phase 2 The money math
4. Phase 3 Market structure, instruments & where the information lives
5. Phase 4 The personal financial plan
6. Phase 5 Long-horizon strategy and the arithmetic of drag
7. Phase 6 Taxation of investment returns
8. Phase 7 Behavioural finance & decision hygiene
9. Phase 8 Financial risk: taxonomy and measurement
10. Phase 9 VaR, expected shortfall & stress testing
11. Phase 10 Portfolio construction and the risk-return frontier
12. Phase 11 Dynamic risk control
13. Phase 12 The business model, the reporting calendar & the filing map
14. Phase 13 The income statement
15. Phase 14 The balance sheet
16. Phase 15 The cash flow statement & owner earnings
17. Phase 16 Ratio analysis & DuPont
18. Phase 17 Accounting quality & forensic red flags
19. Phase 18 Intrinsic value, margin of safety & the four philosophies
20. Phase 19 Relative valuation & comparables
21. Phase 20 Dividends, buybacks & shareholder returns
22. Phase 21 The three-statement forecasting model
23. Phase 22 Discounted cash flow & the cost of capital
24. Phase 23 Asset-based, net-net & earnings-power value
25. Phase 24 Moats, ROIC and the capital cycle
26. Phase 25 Screening, the checklist & the depth ladder
27. Phase 26 Management, governance & capital allocation
28. Phase 27 Writing the investment thesis
29. Phase 28 AI as the analyst's copilot
30. Phase 29 Bonds: fundamentals and pricing
31. Phase 30 Curves, duration & convexity
32. Phase 31 Credit analysis, structured & hybrid instruments
33. Phase 32 Forwards, futures & swaps
34. Phase 33 Options: pricing, Greeks & volatility
35. Phase 34 Commodities and the capital cycle
36. Phase 35 Real estate investing
37. Phase 36 Private markets: private equity, business ownership & the exit
38. Phase 37 Microeconomics for investors
39. Phase 38 Macroeconomics & the business cycle
40. Phase 39 Geopolitics & country risk
41. Phase 40 Digital assets
42. Phase 41 Banks, insurers & financial institutions
43. Phase 42 Software, platforms & subscription businesses
44. Phase 43 Healthcare, biotech & pharma
45. Phase 44 Consumer, retail, industrials — and building a playbook for any sector
46. Phase 45 Capstone: the depth ladder, end to end