Fundamental Analysis

Valuing the underlying business and the macro environment it operates in.

Difficulty intermediate

Reading order

1. Financial Statements — income, balance sheet, cash flow
2. Ratio Analysis — profitability, leverage, efficiency
3. Valuation Models — DCF, multiples, residual income
4. Earnings Analysis — surprise, guidance, post-earnings drift
5. Macroeconomic Indicators — CPI, GDP, rates, employment
6. Sector Analysis — top-down and bottom-up
7. Catalyst Trading — positioning ahead of scheduled events

What you should walk away with

• The ability to read a 10-K without panic.
• A repeatable valuation framework you can apply across companies.
• Awareness of how macro releases translate into market moves.

Next section

Quantitative Strategies →