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Level 2 · M.Sc

Advanced Fundamental Analysis & Value Investing

MSc syllabus · 42 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 The doctoral bridge: from valuekit to quantkit
2. Phase 1 Numerical foundations without a stack
3. Phase 2 Probability, estimation & inference for finance
4. Phase 3 The research fixture panel
5. Phase 4 Accruals under the microscope
6. Phase 5 IFRS vs US GAAP: the comparability problem
7. Phase 6 Revenue recognition & the timing levers
8. Phase 7 Leases, pensions & off-balance-sheet obligations
9. Phase 8 Combinations, goodwill & purchase accounting
10. Phase 9 Earnings quality & statistical detection of manipulation
11. Phase 10 Consolidation, segments & cross-border groups
12. Phase 11 From a point estimate to a distribution
13. Phase 12 Monte-Carlo DCF
14. Phase 13 Bayesian priors on growth and reversion
15. Phase 14 Real options I: lattices
16. Phase 15 Real options II: continuous-time analogues and honest calibration
17. Phase 16 Cost of capital under uncertainty
18. Phase 17 Reverse DCF, scenarios & stress
19. Phase 18 Cross-sectional asset pricing
20. Phase 19 Factor construction
21. Phase 20 Fama-MacBeth & standard errors that survive
22. Phase 21 The replication crisis in finance
23. Phase 22 Backtest protocol
24. Phase 23 Out-of-sample discipline
25. Phase 24 Combining signals
26. Phase 25 Machine learning in asset pricing
27. Phase 26 Term structure I: curve construction
28. Phase 27 Term structure II: short-rate models
29. Phase 28 Term structure III: no-arbitrage frameworks & model risk
30. Phase 29 Credit I: structural models
31. Phase 30 Credit II: reduced-form models
32. Phase 31 Credit III: portfolio credit risk
33. Phase 32 Volatility surfaces
34. Phase 33 Stochastic volatility & jumps
35. Phase 34 xVA
36. Phase 35 The limit order book
37. Phase 36 Information & adverse selection
38. Phase 37 Liquidity measurement
39. Phase 38 Execution & implementation shortfall
40. Phase 39 Market design judged empirically
41. Phase 40 Why mean-variance fails in practice
42. Phase 41 Covariance estimation