ANALYST Academy

OUR NEXT ACADEMY Begins May 6th, 2024

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ENROLL NOW

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REGISTER FOR THE LIVE INFO SESSION ON 4/24/2024 AT 6PM ET

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OUR NEXT ACADEMY Begins May 6th, 2024 — ENROLL NOW — REGISTER FOR THE LIVE INFO SESSION ON 4/24/2024 AT 6PM ET —

A FLEXIBLE ASYNCHRONOUS ACADEMY EQUIPPING YOU WITH THE FRAMEWORKS, TOOLS, & TRAINING TO FAST TRACK YOUR BUY-SIDE CAREER ON YOUR SCHEDULE

Enroll Now

Have more questions? Join our Live Info Session on 4/24/2024 at 6 pm ET.

register for live info session

Do ANY OF thESE sound familiar?

Anxiety is the first thing that hits you as you wake up.
The weight of the world is on your shoulders– or at least the weight of the current thesis you are constructing.
Are you focusing on the right elements? Are you missing something?
Can you be compelling enough when it comes time to pitch?
Can you make them see what you see?
You’ve spent your whole life working towards this goal.
You’ve finally got your shot, but instead of crushing it, you’re the one being crushed.
The first three years are supposed to be a struggle.
You have heard this is a sink or swim industry, but will you be the analyst who sinks?

You’re not alone. This is how it’s always been – but it doesn’t have to be. The Fundamental Edge Academy is here to help.

We are a buy-side analyst training firm, condensing years of “learning by osmosis” into a buy-side analyst masterclass.

Academy IncludeS

12 pre-recorded video modules covering the core Fundamental Edge Analyst Academy curriculum
Slide presentations and additional materials (such as Excel model samples) available for download
Live sessions for questions and additional discussion
Pre-recorded guest speaker content from specialized industry experts
Access to all recordings for one year for maximum flexibility

LIVE SESSIONS

Live kick-off and wrap-up (Dated TBD) sessions
Access to three Q&A “office hours” sessions for interactivity, student questions, and additional discussion
Office hours dates/times: TBD
All times and dates are subject to change.

Enroll now

Watch Our Info Session Here

THE CURRICULUM

Introductory Tools - Modules 1-4

Foundational Tools:

Modules 1-4

Analyst Toolkit Deep-Dives: the 12 core modules that teach the skills a buy-side analyst will need when PM asks, “hey go look at XYZ stock and let me know what you think”

1) PREPARATION & PROCESS (LIVE CLASS)

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Welcome to Academy!
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The Fundamental Edge backstory
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A buy-side primer
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“Quarter in the life” of a hedge fund analyst

The eight abilities you will need on the buy-side

A recipe for success: process & judgment

The criticality of compliance & the “WSJ test”

Resources & tools for the research process

Six habits of the exceptional buy-side analyst

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Ten things that move stocks
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2) ANALYZE A BUSINESS

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Creating your reading stack
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A structured deep dive roadmap
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The underpinnings of FCF generation
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The Fundamental Edge pizza shop
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A good business, bad business framework
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Unit economics & incremental margins
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Tying value drivers to the stock price: AMZN example

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Your first 12 hours on a stock
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Quick dive follow-along: NFLX example
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Roadmap to analyze an industry
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3) BUY-SIDE FINANCIAL MODELING

The six reasons buy-side analysts build models

A step-by-step raw build: TSLA walk-through

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Common modeling challenges
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Bells & whistles: incr margin, 2-year stack & more

Understanding consensus & estimate revisions

Seven hacks for identifying variance vs. street

Mental frameworks for better forecasting

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The three statements for stock pickers
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What your PM is looking for in your model

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The model & stock selection: NVST case
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4) KEY DRIVER “KD” DIFFERENTIATION

The critical pivot: from deep dive to key drivers

Why most stocks can be distilled to three drivers

Market embedded KDs & the reverse DCF: NFLX case

KPI to stock price correlation: what matters

Key drivers, EPS sensitivities & variance

Mapping the food chain to ask the right questions

Channel checks, surveys & expert networks

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Alternative data overview
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The secular view & value compounders
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The power of a differential view on terminal value

Intermediate Tools - Modules 5-8

Intermediate Tools:

Modules 5-8

Analyst Toolkit Deep-Dives: the 12 core modules that teach the skills a buy-side analyst will need when PM asks, “hey go look at XYZ stock and let me know what you think”

5) VALUATION & RISK/REWARD

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Valuation: academia vs. the real world
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The Core Formula: P/E x EPS = Price
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The eight most common valuation tools
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Beyond P/E: EV/rev, EV/EBITDA & FCF yield

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Valuation with normalized earnings
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Constructing a 30-year reverse DCF
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Return disaggregation to P/E & EPS
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The algorithm & why it matters
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Valuation sets the bar: META case study
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6) SHORT SELLING

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Short selling 101
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Squeezes, take outs & pumps, oh my!
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The cyclicality & criticality of short alpha

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Risk management on the short side
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Idea generation on the short side
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Anatomy of a melting ice-cube
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Secular vs. cyclical & “peak on peak” set-ups

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Risk/reward on the short side
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Short selling case studies
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A PMs approach to a diversified short book

7) EARNINGS SEASON

Why you shouldn’t get married in earnings season

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The two drivers of big earnings movers
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A structured earnings preparation process

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Divining the buy-side whisper
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The importance of positioning & set-ups
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Six model checks into earnings
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Creating an earnings print risk/reward
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Where’s the alpha? Understanding the run-up

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Read throughs & the adaptive bar
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Earnings season case studies
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8) ASSESSING MANAGEMENT

Why management matters (and when it doesn’t)

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A framework to evaluate management
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Doing a deep dive on a management team
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The obsession with corporate access
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A structured management meeting process
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The role of investor relations
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Navigating an investor conference
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Analyzing stock-based compensation
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Five options for deployment of cash
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Analyzing stock buy-backs
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Advanced Tools - Modules 9-12

Advanced Tools:

Modules 9-12

This week we’ve assembled leading experts that span across the industry to give you insight and access to some of the brightest and innovative minds on Wall St. and beyond.

9) IDEA GENERATION

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Why stocks get mispriced
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Articulating “why an opportunity exists”

Honing your idea filter with pattern recognition

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The two C’s: change & chaos
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The FEV approach to idea generation
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“Multiple ways to win”, “paid to wait” and more

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Risk/reward and the power of asymmetry
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“Secular vs. cyclical” in idea generation

Generalist ideation with a thematic approach

Inflections & pair trades with a coverage approach

10) THESIS DEVELOPMENT & COMMUNICATION

Is there something here: convincing yourself

Not yet: IRR, catalyst path & the shopping list

A risk-first mindset to thesis development

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Six tips for communicating with your PM
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Uh oh: reporting bad news to your PM
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Frameworks for morning, weekly & monthly notes

Pitch like a pro: 30-second, 5-minute, 30-minute

Numbers plus narrative: the art of the stock pitch

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A structured 15-page presentation pitch
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The skeptic: throwing dirt on a pitch
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11) IDEA MAINTENANCE & THE CATALYST PATH

A roadmap for getting in the flow on a name

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Developing an ongoing research plan
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A structured catalyst assessment process

PSUC (probability of success) catalyst framework

Isolating the “steep part of the return curve”

When the facts change: adaptive R/R mindset

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A tactical risk/reward framework
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Identifying a stock’s PMR (point of max risk)

Time management & your “three golden processes”

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Anatomy of thesis creep
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12) BRINGING IT ALL TOGETHER

Review: the eight abilities you will need

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Review: ten things that move stocks
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Review: core Fundamental Edge frameworks

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Review: develop a R/R & IRR
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“Know thyself”: finding your game in markets

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Becoming a full-stack analyst
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Sharpen the saw: optimizing analyst performance

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Introduction to portfolio management
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An overview of risk & factor models
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Capstone case studies
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ANALYST ACADEMY IS DESIGNED FOR

New Buy-Side Analysts:

Analysts with 0-2 years learning the ropes and need help ramping

Sell-Side Juniors:

Looking for the buy-side approach to better serve their buy-side clients

Experienced Buy-Side Analysts:

Looking for a refresher, or analysts struggling to meet demands of the seat

Buy-Side Interns:

Current interns or interns who are returning full time who want to use the gap to prepare

High Potential Career Switchers:

The “Google Engineer” who wants to break into the buy-side

High Potential Undergrads or MBAs:

Looking to develop a skillset that will differentiate in interviews

What is the Academy NOT for?

Academy is not designed for teach grads to “make money in stocks” (we believe this takes years of experience & mentoring to do well)

TESTIMONIALS

“If I had the academy when I entered the industry, I'd be two years ahead of where I am today. Any analyst I hire will go through the academy.”

— Dominick, NYC

“If you've always felt like you put in the work but have never quite 'gotten it' -- this is the place where you can break through that wall.”

— Brian H, NYC