The Very Basic of Fundamental Analysis

³ Fundamental Analysis

³ The Very Basics

³ Fundamentals: Quantitative and Qualitative

³ Quantitative Meets Qualitative

³ The Concept of Intrinsic Value

³ Criticisms of Fundamental Analysis

³ Business Model

³ Competitive Advantage

³ Management

³ Conference Calls & Management Discussion and Analysis (MD&A)

³ Ownership and Insider Sales & Past Performance

³ Corporate Governance

³ Financial and Information Transparency & Stakeholder Rights & Structure of the Board of Directors

³ Customers & Market Share

³ Industry Growth & Competition

³ Regulation


Just as an army needs a general to lead it to victory, a company relies upon management to steer it towards financial success. Some believe that management is the most important aspect for investing in a company. It makes sense - even the best business model is doomed if the leaders of the company fail to properly execute the plan.

So how does an average investor go about evaluating the management of a company?

This is one of the areas in which individuals are truly at a disadvantage compared to professional investors. You can't set up a meeting with management if you want to invest a few thousand dollars. On the other hand, if you are a fund manager interested in investing millions of dollars, there is a good chance you can schedule a face-to-face meeting with the upper brass of the firm.

Every public company has a corporate information section on its website. Usually there will be a quick biography on each executive with their employment history, educational background and any applicable achievements. Don't expect to find anything useful here. Let's be honest: We're looking for dirt, and no company is going to put negative information on its corporate website.


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