Public Equities & Securities Analysis

  1. F1

    Equity Research Fundamentals

    What the job is, and what an equity actually is as an instrument.

  2. F2

    Equity Markets and Listings

    The market the instrument trades in. Listing, primary and secondary, corporate actions.

    • Framework

      How Listing Changes a Company’s Capital and Disclosure Context

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    • Framework

      How to read an equity listing and corporate action disclosure

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    • Framework

      How Corporate Actions Affect Shares and Per-Share Metrics

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  3. F3

    Market Data and Liquidity

    What the market publishes about itself, and what each number does and does not say.

    • Framework

      How to Read Equity Market Data Without Overreading It

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    • Framework

      How Liquidity Affects Equity Research and Market Access

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    • Framework

      How to Analyse Share Liquidity and Free Float, in Order

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  4. F4

    Sector Research

    The field before the company. What moves a sector and where one company sits in it.

    • Framework

      How to Research a Listed Company, in Order: Eight Steps

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    • Framework

      How to Update Research After an Earnings Release

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  5. F5

    Earnings Analysis

    The recurring work. Guidance, consensus, and building a forecast from drivers.

    • Framework

      How to Read Management Guidance and What It Leaves Out

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    • Framework

      How to Read an Earnings Release Without Being Misled

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    • Framework

      How to Find and Rank the Drivers Behind One Company

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    • Framework

      How Business Drivers Travel Down to Earnings Per Share

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  6. F6

    Quality of Earnings

    Whether the reported number is a sound base for the forecast just built.

    • Framework

      How to Read an Earnings Call Transcript, Step by Step

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  7. F7

    Valuation Application

    Applying D04's methods to a real company, and the boundary this platform holds.

  8. F8

    Research Thesis and Models

    The view itself. What it rests on, what would break it, and over what horizon.

    • Framework

      How to build an equity research forecast model

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    • Framework

      How Estimate Revisions Can Change Research Context

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  9. F11

    Research Discipline and Cases

    The professional layer. Coverage, output, independence and the pass before publication.

    • Framework

      How to Run an Equity Research Post Mortem, Step by Step

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    • Framework

      How Research Post-Mortems Improve Decision Discipline

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