Learning Fundamental Stock Analysis
incoming SA in IB. pretty bored with the extra time i have and i want to learn more about fundamental analysis / investing. i tried youtube and chatgpt to give resources but honestly not finding anything super helpful. does anyone have any recs. for resources similar to the type of training/experience L/S investors have?
Based on the most helpful WSO content, here are some excellent resources and strategies to dive into fundamental stock analysis and investing, especially if you're aiming to emulate the training and experience of L/S investors:
1. WSO Academy and Courses
2. Free Resources for Market Analysis
3. Books and Strategies for Deep Fundamental Investing
4. Practical Application
5. Bootcamps and Live Training
By leveraging these resources, you'll gain a solid foundation in fundamental analysis and investing, similar to the skill set of L/S investors.
Sources: How To Follow The Markets Like A Pro – For Free!, Long term, concentrated, deep fundamental investing, MS in Accounting and Fundamental Analysis - Columbia Business School, Fundamental Analyst at Prop Trading Firms?
Buy low sell high
Why didn’t I think of that?
If you haven’t already, definitely read all the classic books to get a good understanding of the background of fundamentals-based investing, including (but not limited to):
I’d also recommend Aswath Damodoran’s YouTube channel.
Finally, I assume you’ve done financial modeling courses since you landed an IB SA role?
Ultimately, I think the best way to learn is by just doing it - build an investment thesis with valuation and catalyst, write up a report, get feedback if possible, rinse and repeat.
I can’t speak much to HF-specific resources, but hopefully this comment will help boost this post in terms of visibility.
So, I really like the concept of "learn by doing it". In some MMHFs, analyst can run a paper book so PMs and business heads can better quantify their skills and idea generation. So, I have been building a similar tool/service to do this for anyone in the world. The concept is pretty simple, it's a high-fidelity paper book, similar to the ones you have in these firms, that allows you to record your research, ideas, positions and its completely auditable by anyone because it uses a clever immutable record keeping system. I would argue it's the closest thing to reality and to getting an actual track record without going through the traditional route. My goal is to sit anyone in one of these simulated HF seats and prove to others how well they can perform at scale and with constraints. DM me if you want to try the beta version.
Sounds cool! I’ve actually been looking for something like this to make a higher quality paper book than what I’ve managed before.
Is it primarily tailor-made to L/S HF, or does it work for LO too? I’m interested in a career switch to LO, hence why I’m looking for better practice tools.
What’s the tool? Is it an app you built?
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