The Dark Side of Financial Statement Analysis
14 August 2019
Trainer: Professor Joel Litman
Eligible for FTS & SkillsFuture Credit Programme code – P180808ZOM
This workshop is eligible for 7 CPD and CE hours
"The Dark Side of Financial Statement Analysis" is an extremely practical, intensive day-long session into time-tested strategies employed by the world's greatest investors.
Historically, the world's most successful investors have employed various competitive advantages for consistently beating the market's returns.
- Analytical Advantages: Given the data already publicly available, some of the world's top investors have built superior analytics to allow them to succeed. Some of the world's greatest "Quants" fall into this category such as Blackrock, Dimensional, and AQR.
- Informational Advantages: Some of the great fundamental investors have found ways to systematically uncover legal informational advantages. They have created ways to discover and determine company direction before the rest of the market has found out.
- Emotional Advantages: Buffett, Klarman, Royce, and Templeton among others, have shown how temperance and emotional intelligence can make for incredible returns.
While this course focuses on fundamental investing, it shows how better analytics can be used to create competitive advantages for investors. The term "Quantamental" describes how analytical, informational, and emotional advantages can be combined to generate concrete alpha in a stock portfolio.
"All great investors, regardless of investing style, have employed the same three steps in their success. They better understood what the market was expecting, they knew the market had mispriced its expectations, and they knew when the market would change its mind." - Litman
A highlight of the program is the real-time use of Uniform Financial Analytics in real world, current investment situations. Based on UAFRS (Uniform Adjusted Financial Reporting Standards), it features Uniform Earnings, Uniform P/E multiples, and entire data sets of enhanced analytics to better quantify and assess corporate performance and valuation.
Uniform earnings reports and valuations have been gaining popularity by investors and executives around the world. Uniform-based research reports are in the top 5% of all downloads on Factset, have been presented in "Dark Side of Financial Statements" programs in CFA Societies around the world.
In this seminar, enhanced analytics are combined with other tools and tactics of some of the world's greatest investors. Participants leave with a new understanding of alpha-generation and a platform for re-examining and enhancing their own investment processes and potential for success.
CFA Society Singapore member price : S$880* (Early Bird fee) / S$1,080*(Standard fee)
Non-member price : S$1,080* (Early Bird fee) / S$1,280* (Standard fee)
Early bird fee valid till 19 July 2019
* Prices before 7% GST
* 10% off Group Discount available