Hey everyone,
I'm looking to dive into company valuation, but I'm basically starting from scratch. My main goal is to learn how to analyze a business so I can get a better idea of whether they are positioned to do well in the near future (and ultimately, if they are actually a good investment).
There is a massive amount of information out there, and I'm feeling a bit overwhelmed by where to begin. I'm hoping you can help point me in the right direction.
I'd love your recommendations on, but not limited to:
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The absolute basics: Are there any specific books, YouTube channels, or free courses you'd recommend for someone without a formal background in finance or accounting?
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Practical application: Once I learn the core concepts (like DCFs or looking at balance sheets), what are the best ways to practice valuing real, public companies?
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The "Art" vs. "Science": How much of your own process is based on hard math and 10-Ks versus qualitative factors like management, industry trends, and competitive moats?
I know this is a marathon and not a sprint, so I'm just looking for the best stepping stones to get started. Any advice, favorite resources, or warnings about common beginner mistakes would be hugely appreciated.