looking for advice

[Steve_1982]

@Einstein, Vishal Khandelwal has 10 years of experience? I did not think it was that much. He claimed to be making slightly less than 20% cagr in one post which is less than a good mutual fund's returns.

I'm thinking of ways to get a university/college's curriculum for investing. Maybe buy Harvard's case studies.

 

[roketsingh]

Steve,
Does this CFA course practically help for stock investment for personal use.
My motive is to use fundamental analysis for investment.
Just doubt if this CFA course is not too theoretical and just for degree sake.
if you have personal experience with this course do guide me will it fit my requirement.
also how long is this course?

regards,
kumar

It is not too theoretical and it is the best thing out there but why you want to go through the agonizing pain of studying 900-1500 hours when all you want to do is to just learn a part of curriculum. It was Ben Graham's efforts that led to the formation of CFA Institute.

And two years is the minimum time. People take years to clear all three levels.

 

[NIRV]

I Have a doubt , which i d be thankful if anyone can clarify .... as per my knowledge corporate tax rates including cess etc is around 35%...... but a company (in my case Aditya Birla Chemicals) has paid 44% os its PBT as tax for year 2013-2014 and has shown a provisioning or paid taxes of 54% of its half year PBT for 2014-2015.
Could anyone explain as to what could be the reason for this?

 

[aryabhatta]

I read his interview, his first 10 years were basically disaster. he start buying on debt from banks. and initially face loss, now he is making his bread and butter by charging HNIs. If he is good why he is not making money? if he wants to teach, why he is charging high amount(even for small investors).?

Very good point wish more members would think like you

...... I think you have chosen your user name well

 

[rvm123]

I Have a doubt , which i d be thankful if anyone can clarify .... as per my knowledge corporate tax rates including cess etc is around 35%...... but a company (in my case Aditya Birla Chemicals) has paid 44% os its PBT as tax for year 2013-2014 and has shown a provisioning or paid taxes of 54% of its half year PBT for 2014-2015.
Could anyone explain as to what could be the reason for this?

During previous years, in some of the years the tax paid was less than 20% also. may be they might have paid some arrears of tax during 2013-14. In 2014-15 also the 54% may include some earlier year's arrears (or) expecting more profits for next quarters, they might have paid more.

 

[roketsingh]

I Have a doubt , which i d be thankful if anyone can clarify .... as per my knowledge corporate tax rates including cess etc is around 35%...... but a company (in my case Aditya Birla Chemicals) has paid 44% os its PBT as tax for year 2013-2014 and has shown a provisioning or paid taxes of 54% of its half year PBT for 2014-2015.
Could anyone explain as to what could be the reason for this?

what you seek is difference between statutory and effective corporate tax rates?

statutory corporate tax rate is the rate that is imposed on taxable income of corporations, which is equal to corporate receipts less deductions for labor costs, materials, and depreciation of capital assets. In contrast, the effective corporate tax rate (ETR) measures the taxes a corporation pays as a percentage of its economic profit.

 

[wahkao]

To learn about FA watch YouTube videos

which fa videos do you recommend on youtube??

 

[roketsingh]

You could try YouTube, when you search fundamental analysis it will show you some videos, this could be a good starting point.

Do not restrict yourself to videos from India because these theories apply universally.

Try to find videos of your favorite investor(s) and find why he/she invested in particular company. Your motive should be to find out what are the driving factors for a(an) company/industry and where would you put that company as per the current economic scenario.

You could also search for lectures from IIMs from India professors which will give you good context or some from Columbia and NYU University.

For e.g. higher interest rates put pressure on housing market as people would tend to put off the purchase if the rise in interest rate is short term.

These things will come naturally to you once you get involved in the process.

Valuation is another important part which is really critical, you need to know which model to use when. For instance, you cannot use DCF for valuing a bank you need to use Residual Income model. Of course you can use 3-4 valuation model to come up with the value range. Always remember that value and price are not the same thing. Value is driven by fundamentals while price is driven by sentiments.


Another important part is analyzing balance sheet as you might come across two companies which look identical but use different account policies. Look for inventory valuation, fair value assessment, capital and operating leases and so on.

 

[stoch]

which fa videos do you recommend on youtube??

Nah, I wouldn't recommend watching youtube at all, most of the times they're trying to sell you something you don't really need..