ITFI Lecture 5
What is an Investment Thesis
Your opinion on a stock that answers two main questions:
Why is this company undervalued?
What will unlock this value?
Anatomy of an investment thesis:
Lecture 2- Fundamental
*Some original slides by Andy Zhao and
Outline for Today
2 parts to todays lecture
1. Framework of fundamental investing;
how do we think about
investing/generating excess returns?
The Grade Distribution
(You may pick your own grade for the class)
Introduction to Fundamental Investing
You want to be in this class
Come to each lecture prepared to discuss some of the hot
Introduction to Wall Street
Valuation and Metrics
Questions from last 2 lectures?
Roadmap for Today
How to make money from stocks
What are they, and why do we care?
Government mandated reports detailing all facets of a companys
Quantitative supplement to our qualitative, fundamental research.
Project forward to predict