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euphoric
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hi jock

 

what are you interested in learning? technical analysis, fundamental analysis?

 

how much are you prepared to spend?

 

with a few years under my belt, i have noticed that the upfront costs are often significant and i am unsure whether they delivered on their promises.

 

many folk here have probably learnt more by reading a select texts by well known and respected authors AND asking questions AND applying what they learnt with money on the line in real trades.

 

of note, the ASX offers some good courses in equities and derivatives from time to time which might be a start.

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Hi Jock,

 

Many folks just use the Web and do alot of reading of books and blogs with videos and stuff.

 

If you need to be tutored then WealthWithin, I believe is a good path to follow.

 

I have not done it myself, however I do know it is much better than the likes of Ozzy Bob or whoever his name is.

 

Got a friend who is doing that and now wants his money back, left unhappy and feeling ripped.

 

Anyways, also ask if there are any mentors in your area that will do a consultation and then get a feel for what your budget is and how much you can understand or read without being tutored and see how you go.

 

Good luck

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In reply to: Jock on Friday 21/03/08 08:15pm

G'day Jock

 

I personally have not attended a share trading course, but instead would suggest the following as the bare minimum:

 

 

1. Read through Masters of the Market - 1st AND 2nd editions - by Anthony Hughes, Geoff Wilson, and Matt Kidman

 

2.

a)Work out how to simply calculate Enterprise Value and EBITDA, so you can work out EV/EBITDA ratios and work out how to calculate P/E ratios and P/R ratios, and know how to use and compare these ratios for companies in similar industries

b) Know what information on company's debt in their annual report to look for and calculate debt ratio and what possible bank covenant ratios there are

c) Know how to check how positive operating cashflow is, and if operating cashflow less maintenance capital expenditure is still positive and making a reasonable free cashflow return on equity (cashflow after interest, tax, maintenance capex)

d) know where to look for in company report for hidden assets (hint: annual report notes under property, plant, equipment) AND contingent liabilities (hint: under contingent liabilities)

 

3. Get someone to show you how to calculate discounted cashflow valuation in excel and more simple calcs using financial calculator [for advanced interest: find somone to tell you how to calculate a rough discount rate to use --- this isn't too important, can just see what brokers are using or google ACCC and NZ Commerce Commission, answer should be somewhere between 8-12%]

 

4. For retail and many industrial companies, need to know how to calculate margins, inventories turnover, and receivables turnover --- from the last 2-10 years of annual reports --- to give you guide as to what is normal for the future

 

5. For mining companies

a) read Dr Victor Rudenno "The Mining Valuation Handbook"

b) work out in your own mind if you believe the commodities boom story....regardless find one or two commodities and follow

i) global demand, supply, inventories

ii) all the stocks listed everywhere in Australia/Canada/US/UK and read all their presentations, quarterly reports, Open Briefings, radio interviews, broker reports on websites etc

 

 

Once you have all this fundamental analysis under your belt (should only take about 10 companies/annual reports before you get the hang of things --- other than Discounted Cash Flow which is a course in itself), then perhaps can look at technical analysis if that is your bent/forte.

 

For advanced studies there is the old Securities Institute but now Finsia courses - Graduate Diploma in Applied Investment and Financae

 

there can do investment analysis courses to your heart's content...http://www.sharescene.com/html/emoticons/smile.gif

 

hope this is helpful

 

kind regards

 

Commander

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In reply to: Serenity on Friday 28/03/08 07:58pm

Thanks Serenity I've picked up the names of a couple of books, so might start there, but the idea of a mentor really appeals. That gives me an avenue for discussion and direction without the structure and expense of a formal course!

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  • 10 months later...

I'm interested in doing some part time study in equities - trading and investment options, and to get a better feel for how things work etc, mix with some people with similar ideas

 

Does anyone know of any suitable courses? where they are located etc? I've tried the ASX website but these seem to be by remote correspondence and 'completed' in a week or so. I'm looking for something with a bit more interaction for 1-2 years leading to some formal qualification/recognition (I'm not looking to be a financial advisor)

 

Based in Sydney, this is my 6th year of investing and have had some success at it to date

 

Any comments appreciated

 

Also - where can I interact with other investors on a once a month basis?

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Hi Vic

If you want to mingle with other market participants & find out which are the best courses to attend, go to one of the Bulls and Bears Network meetings. Otherwise known as the Sydney Sunday Traders Club.

I often go to the sister club meets in Brisbane & they are a very good place to network. They were initially kicked off to follow the trading style of Alan Hull, but they have regular guest speakers who cover all sorts of diff trading/investing styles. They are not for profit organisations. (the Bris one is anyway)

I know Rob Kreft who runs the Sydney club & he is a very approachable bloke. He will point you in the right direction.

Their link is http://www.bullsandbearsnetwork.com.au/

Goos luck

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