Stock Trading

  1. Fundamental Analysis
    1. Core Principles
      1. Intrinsic Value Concept
        1. Margin of Safety
          1. Long-Term Value Creation
            1. Market Efficiency Assumptions
            2. Company Analysis
              1. Business Model Evaluation
                1. Revenue Streams
                  1. Cost Structure
                    1. Value Proposition
                      1. Customer Base
                      2. Competitive Analysis
                        1. Competitive Advantage (Economic Moat)
                          1. Cost Advantages
                            1. Network Effects
                              1. Brand Strength
                                1. Regulatory Barriers
                                  1. Switching Costs
                                  2. Competitive Position
                                    1. Market Share Analysis
                                      1. Threat Assessment
                                      2. Management Evaluation
                                        1. Leadership Quality
                                          1. Track Record
                                            1. Strategic Vision
                                              1. Capital Allocation Skills
                                                1. Management Incentives
                                                2. Corporate Governance
                                                  1. Board Independence
                                                    1. Executive Compensation
                                                      1. Shareholder Rights
                                                        1. Transparency and Disclosure
                                                      2. Financial Statement Analysis
                                                        1. Income Statement Analysis
                                                          1. Revenue Recognition
                                                            1. Cost of Goods Sold
                                                              1. Gross Profit Margin
                                                                1. Operating Expenses
                                                                  1. Operating Income
                                                                    1. Interest Expense
                                                                      1. Tax Provisions
                                                                        1. Net Income
                                                                          1. Earnings Per Share
                                                                          2. Balance Sheet Analysis
                                                                            1. Current Assets
                                                                              1. Non-Current Assets
                                                                                1. Current Liabilities
                                                                                  1. Long-Term Debt
                                                                                    1. Shareholders' Equity
                                                                                      1. Working Capital
                                                                                        1. Asset Quality
                                                                                        2. Cash Flow Statement Analysis
                                                                                          1. Operating Cash Flow
                                                                                            1. Free Cash Flow
                                                                                              1. Investing Cash Flow
                                                                                                1. Financing Cash Flow
                                                                                                  1. Cash Flow Quality
                                                                                                  2. Financial Ratio Analysis
                                                                                                    1. Profitability Ratios
                                                                                                      1. Gross Profit Margin
                                                                                                        1. Operating Margin
                                                                                                          1. Net Profit Margin
                                                                                                            1. Return on Assets (ROA)
                                                                                                              1. Return on Equity (ROE)
                                                                                                                1. Return on Invested Capital (ROIC)
                                                                                                                2. Valuation Ratios
                                                                                                                  1. Price-to-Earnings (P/E) Ratio
                                                                                                                    1. Price-to-Book (P/B) Ratio
                                                                                                                      1. Price-to-Sales (P/S) Ratio
                                                                                                                        1. Price-to-Cash Flow Ratio
                                                                                                                          1. Enterprise Value Ratios
                                                                                                                          2. Liquidity Ratios
                                                                                                                            1. Current Ratio
                                                                                                                              1. Quick Ratio
                                                                                                                                1. Cash Ratio
                                                                                                                                2. Leverage Ratios
                                                                                                                                  1. Debt-to-Equity Ratio
                                                                                                                                    1. Debt-to-Assets Ratio
                                                                                                                                      1. Interest Coverage Ratio
                                                                                                                                      2. Efficiency Ratios
                                                                                                                                        1. Asset Turnover
                                                                                                                                          1. Inventory Turnover
                                                                                                                                            1. Receivables Turnover
                                                                                                                                            2. Dividend Ratios
                                                                                                                                              1. Dividend Yield
                                                                                                                                                1. Dividend Payout Ratio
                                                                                                                                                  1. Dividend Coverage Ratio
                                                                                                                                              2. Industry and Sector Analysis
                                                                                                                                                1. Industry Life Cycle
                                                                                                                                                  1. Emerging Industries
                                                                                                                                                    1. Growth Industries
                                                                                                                                                      1. Mature Industries
                                                                                                                                                        1. Declining Industries
                                                                                                                                                        2. Industry Structure
                                                                                                                                                          1. Competitive Dynamics
                                                                                                                                                            1. Barriers to Entry
                                                                                                                                                              1. Supplier Power
                                                                                                                                                                1. Customer Power
                                                                                                                                                                  1. Substitute Threats
                                                                                                                                                                  2. Regulatory Environment
                                                                                                                                                                    1. Industry Regulations
                                                                                                                                                                      1. Regulatory Changes
                                                                                                                                                                        1. Compliance Costs
                                                                                                                                                                      2. Economic Analysis
                                                                                                                                                                        1. Macroeconomic Indicators
                                                                                                                                                                          1. Gross Domestic Product (GDP)
                                                                                                                                                                            1. Inflation Rates
                                                                                                                                                                              1. Interest Rates
                                                                                                                                                                                1. Employment Data
                                                                                                                                                                                  1. Consumer Confidence
                                                                                                                                                                                    1. Manufacturing Indices
                                                                                                                                                                                    2. Economic Cycles
                                                                                                                                                                                      1. Business Cycle Phases
                                                                                                                                                                                        1. Sector Rotation
                                                                                                                                                                                          1. Cyclical vs Defensive Stocks
                                                                                                                                                                                          2. Monetary Policy Impact
                                                                                                                                                                                            1. Federal Reserve Policy
                                                                                                                                                                                              1. Interest Rate Changes
                                                                                                                                                                                                1. Quantitative Easing
                                                                                                                                                                                              2. Valuation Methods
                                                                                                                                                                                                1. Discounted Cash Flow (DCF) Models
                                                                                                                                                                                                  1. Free Cash Flow to Firm
                                                                                                                                                                                                    1. Free Cash Flow to Equity
                                                                                                                                                                                                      1. Terminal Value Calculation
                                                                                                                                                                                                        1. Discount Rate Determination
                                                                                                                                                                                                        2. Relative Valuation
                                                                                                                                                                                                          1. Comparable Company Analysis
                                                                                                                                                                                                            1. Precedent Transaction Analysis
                                                                                                                                                                                                              1. Multiple Expansion/Contraction
                                                                                                                                                                                                              2. Asset-Based Valuation
                                                                                                                                                                                                                1. Book Value
                                                                                                                                                                                                                  1. Liquidation Value
                                                                                                                                                                                                                    1. Replacement Cost

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                                                                                                                                                                                                                2. Market Structure and Participants

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                                                                                                                                                                                                                4. Technical Analysis