Fundamental Analysis

Fundamental Analysis: The Search for Intrinsic Value

Part One

Economic Analysis

2. Politico-Economic Analysis
3. The Economic Cycle
4. Asset Bubbles: What They Are and How to Protect Yourself When they Burst

Part Two

Industry Analysis

5. Industry Analysis

Part Three

Company Analysis

6. The Management
7. The Company
8. The Annual Report
The Directors’ Report
The Auditor’s Report
Financial Statements
Schedules and Notes to the Accounts
9. Ratios
Market Value
Earnings
Profitability
Liquidity
Leverage
Debt Service Capacity
Asset Management / Efficiency
Margins
10. Cash Flow
11. Conclusion
12. Fundamental Analysis Step-by-step