Day 01
Map the business
Write what the company sells, who pays, why customers choose it, and how revenue becomes profit.
Business model
Learning path
Build your research process in seven focused sessions.
Move from understanding a business to writing a complete thesis. Each session gives you one clear outcome and a practical next step.
The sequence
Learn in the order research actually happens.
Pick one company you already understand. Use the same company across all seven sessions so your thinking compounds.
Day 02
Read the financial engine
Review revenue growth, operating margin, free cash flow, share count, and debt over several years.
Financials
Day 03
Study the advantage
Identify switching costs, scale, network effects, brand, intellectual property, or cost leadership.
Moat
Day 04
List the failure modes
Find competition, disruption, customer concentration, regulation, leverage, and management risks.
Risk
Day 05
Frame valuation
Compare price to earnings, cash flow, growth, history, peers, and conservative future scenarios.
Valuation
Day 06
Write the thesis
State what must go right, what the market may be missing, and what evidence would prove you wrong.
Thesis
Day 07
Decide the role
Choose watchlist, starter position, full research, or pass. Define position size and review triggers.
Decision
Use primary sources
Start with annual reports, quarterly filings, earnings calls, and investor materials from the company.
Write before deciding
Written thinking makes assumptions visible and gives you something honest to review later.
Keep a pass pile
Saying no is part of the process. A difficult-to-understand company does not need to become your problem.
Start now
Choose a company from the library.
Filter for a sector you understand, open its research view, then carry it through the seven-day sequence.
Choose a stockBegin with familiar demand
A product or service you already use is often easier to map.
Avoid false precision
Use ranges and scenarios when the future cannot be known exactly.
Update when facts change
A thesis is a living argument, not a promise to remain loyal.