Advanced education
Decode balance sheets, income statements, and cash flow. Spot moats. Value stocks with a process.
- Decode the balance sheet
Cash, debt, working capital, and whether the company has options in a bad year.
10 min
- Cash flow and free cash flow
When profit is real, and what management can actually spend.
9 min
- Spotting moats
Pricing power, switching costs, network effects, and scale — with a bias toward evidence.
9 min
- Warning signs in the numbers
Margin compression, dilution, debt without cash, and growth that does not convert.
8 min
- Value stocks like a professional
Understand the business, then the financials, then your own projection — in that order.
10 min
- How to read a 10-K without drowning
Business overview, key metrics, specific risks, then the financials.
8 min