5 structured courses

Learn the real game of the market

From understanding why markets exist to building a portfolio that compounds — every course is built as focused 20-minute lessons so you can learn seriously around a full-time life.

5
Courses
41
Lessons
13h 40m
Total runtime
4
Projects
01
4h
Runtime
12
Lessons
1
Project
Foundation

Fundamentals of Stocks & the Business Behind It

Why does the stock market exist? How do businesses raise capital, go public, and create long-term wealth? This course builds the mental model every serious investor must have before picking a single stock.

Cost of capital, WACC, and the hurdle rate
The full capital raising journey — angels to IPO
FII vs DII flows, sentiment cycles, PE expansion
Asian Paints price vs business divergence case study
₹1,999 One-time payment
Lifetime access
🌟
Course Project — The Business Thesis

Pick any Nifty 500 company. Write a one-page thesis covering: what it does, ROCE vs cost of capital, its competitive moat, the industry tailwind, and your buy or avoid conclusion.

#LessonDurationType
1.1
Why the Stock Market Exists
Cost of Capital as the foundation — WACC, the hurdle rate, and why a business earning below its COC destroys wealth even while showing accounting profit.
WACCHurdle RateROCE vs COC
20 min
Lesson
1.2
The Capital Raising Journey
Family & friends to bank loans to private equity. Angel investors, VC, PE, term sheets, dilution, drag-along and tag-along rights explained.
Angel / VC / PEDilutionTerm Sheets
20 min
Lesson
1.3
The IPO — How a Company Goes Public
BRLM, DRHP, SEBI review, price band, OFS vs fresh issue, the three allocation buckets, ASBA, book building, the 90% rule, and listing day.
DRHPOFS vs Fresh IssueASBA90% Rule
20 min
Lesson
1.4
The Real Business vs the Stock Market
Two businesses run simultaneously after listing. The real business changes slowly; the stock price changes every second. Titan as the teaching example — ROCE, operating leverage, competitive moat.
Price vs ValueROCEMoatTitan
20 min
Lesson
1.5
Why Share Prices Fluctuate
A share price is a live auction. FII vs DII flows, what triggers each, the SIP revolution that shielded India in 2022, and how global macro events move stocks with no connection to fundamentals.
FII TriggersDII / SIP FloorGlobal Macro
20 min
Lesson
1.6
Quarterly Results and Price Impact
The market reacts to results vs expectations, not results in isolation. Types of earnings surprises, operating margin as quality signal, and why management commentary often moves the stock more than the numbers.
Earnings SurpriseBeat vs MissOperating Margins
20 min
Lesson
1.7
Management Quality
Capital allocation as the most important skill nobody teaches. Red flags: promoter pledging, related party transactions, OCF vs PAT divergence. Skin in the game and long-term thinking.
Capital AllocationPromoter PledgingOCF vs PAT
20 min
Lesson
1.8
Market Share Expansion and Valuation
Four simultaneous channels: revenue growth, operating leverage, P/E multiple expansion, and the flywheel that weakens competitors. Case studies: Asian Paints, HDFC Bank, D-Mart.
4 ChannelsMultiple ExpansionFlywheel
20 min
Lesson
1.9
Industry Tailwinds
Underpenetration, formalisation of the economy, rising incomes, and government policy capex. The Tanishq story. BIS hallmarking, demonetisation, and GST as accelerators. Tailwind without moat is a trap.
UnderpenetrationFormalisationTanishq Story
20 min
Lesson
1.10
Market Sentiment and Fear
Mr. Market — Graham's mental model. The 8-stage sentiment cycle. How financial media amplifies fear. Herd behaviour, leverage cascade, and how to read current market sentiment using data signals.
Mr. Market8-Stage CycleHerd Behaviour
20 min
Lesson
1.11
PE Multiple Expansion and Contraction
Share Price = EPS × PE. Five drivers of expansion, five of contraction. The three scenarios: Double Engine, One Engine, Value Trap. Real examples: Bajaj Finance, Zee Entertainment, Nykaa.
Double EngineValue TrapBajaj Finance
20 min
Lesson
1.12
Price vs Business Divergence — Asian Paints Case Study
Four phases from fairly valued to euphoria to reality reasserting. Three lessons every investor must take from it. The weighing machine principle summarised.
Asian Paints4 PhasesWeighing Machine
20 min
Lesson
★
Project — The Business Thesis
Pick any Nifty 500 company. Write a one-page thesis: business model, ROCE vs COC, moat type, industry tailwind, sentiment context, and a buy / avoid conclusion with reasoning.
Any Nifty 500 stockMoat identificationROCE analysis
Self-paced
Project
Next course
02
2h 40m
Runtime
8
Lessons
1
Project
Practitioner

How to Read a Business

Annual reports, balance sheets, P&L, cash flow, ratios, and earnings quality. Your biggest competitive advantage is that most investors never open the annual report — this course teaches you exactly what to look for.

Annual report reading sequence and MD letter analysis
Balance sheet, P&L and cash flow statement mastery
OCF vs PAT — the truth detector for earnings quality
Fraud red flags: Satyam, DHFL, IL&FS, Zee
₹2,499 One-time payment
Lifetime access
🌟
Course Project — The Annual Report Deep Dive

Download any listed company's latest annual report. Complete the full 10-point checklist: MD letter promises vs delivery, OCF vs PAT for 5 years, margin trends, one red flag found, and a quality verdict.

#LessonDurationType
2.1
The Annual Report
The most important document a listed company publishes — and why most investors never open it. Correct reading sequence, what the MD letter really reveals, auditor red flags, related party disclosures, and segment reporting.
Reading OrderMD LetterAuditor QualificationsNotes to Accounts
20 min
Lesson
2.2
The Balance Sheet
A financial photograph on a single date. Fixed assets, current assets, liabilities, shareholders equity. Key ratios: D/E, current ratio, working capital, ROE. How to spot a stressed balance sheet before it becomes a crisis.
D/E RatioCurrent RatioWorking CapitalROE
20 min
Lesson
2.3
The Profit & Loss Statement
Full P&L waterfall from revenue to net profit. Revenue quality: volume vs price vs mix. Gross margin by industry, EBITDA, interest coverage, diluted EPS, and 5-year margin trend analysis — the most important skill.
Revenue QualityEBITDAInterest CoverageMargin Trends
20 min
Lesson
2.4
The Cash Flow Statement
Profit can be manufactured. Cash cannot. OCF vs PAT as the truth detector. Growth vs maintenance capex. Free cash flow and FCF yield. What rising receivables, inventory, and payables each reveal.
OCF vs PATFree Cash FlowFCF YieldWorking Capital
20 min
Lesson
2.5
Key Financial Ratios
Profitability (ROCE, ROE), efficiency (inventory turnover, DSO, cash conversion cycle), leverage (D/E, interest coverage), liquidity (current ratio), and valuation ratios (P/E, EV/EBITDA, PEG, FCF yield). The master ratio table.
ROCEDSO / DPOInterest CoveragePEG Ratio
20 min
Lesson
2.6
Quality of Earnings
Revenue recognition manipulation, receivables growing 2× faster than revenue, inventory build-up, capitalising vs expensing, goodwill impairment. Real fraud cases — what the financials showed years before the collapse.
Revenue RecognitionChannel StuffingSatyam / DHFL / IL&FS
20 min
Lesson
2.7
Reading the Management Letter
Language of confidence vs language of deflection. The promise-vs-delivery exercise: last year's letter against this year's financials. What management says about competition. What is NOT said — and why that matters most.
Honest vs DeflectivePromise vs DeliveryWhat Is Not Said
20 min
Lesson
2.8
Screening Tools and How to Use Them
Screener.in — building a custom query step by step. Tickertape for visual analysis. BSE and NSE as primary data sources. The 10-point checklist before buying any stock.
Screener.inCustom QueryBSE / NSE Filings10-Point Checklist
20 min
Workshop
★
Project — The Annual Report Deep Dive
Download any listed company's annual report. Complete the 10-point checklist: MD letter promises vs delivery, OCF vs PAT for 5 years, 5-year margin trend, balance sheet health, one red flag identified, final quality verdict.
Any listed company10-point checklist5-year trend required
Self-paced
Project
Next course
03
3h 20m
Runtime
10
Lessons
1
Project
Analyst

How to Value a Stock

Reading a business tells you what it is. Valuation tells you what it is worth. Every method from Graham's conservative floor to DCF's theoretically correct ceiling — and how to triangulate them into a buy price.

Margin of safety — the most important concept in investing
PE valuation using the ROCE-Growth-Moat framework
DCF with sensitivity analysis — full Asian Paints model
Triangulation: PE + DCF + peers to set a buy price
₹2,999 One-time payment
Lifetime access
🌟
Course Project — The Valuation Dossier

Pick any Nifty 500 stock. Build a complete dossier: normalised EPS, justified PE, 5-year DCF with a 3×3 sensitivity table, peer comparison, and a final triangulated buy price with margin of safety.

#LessonDurationType
3.1
What Is Intrinsic Value?
Price and value are two different things. Why markets misprice stocks — short-termism, emotion, FII selling, complexity aversion. The investor's job: estimate value, compare to price, act when the gap is large enough.
Price vs ValueIntrinsic ValueMarket Mispricing
20 min
Lesson
3.2
The Margin of Safety
Buffett's three most important words. MOS = (IV − Price) / IV. Required MOS by business quality tier. Paytm, Nykaa, Asian Paints at peak 2021 — what happens when you buy without a buffer. MOS-based position sizing.
MOS FormulaQuality TiersPaytm / NykaaPosition Sizing
20 min
Lesson
3.3
Relative Valuation — Comparing to Peers
P/E, EV/EBITDA, P/B, P/S — when each applies. Sector-specific multiples matrix. Building a peer comparison table. Why relative cheapness in an expensive sector is not a margin of safety.
P/EEV/EBITDAP/B for BanksSector Matrix
20 min
Lesson
3.4
PE-Based Valuation — The Practical Method
Normalised EPS, justified PE using ROCE-Growth-Moat-Management framework, fair value and buy price. Full worked examples for Titan and HDFC Bank. Five mistakes that destroy PE valuation accuracy.
Normalised EPSROCE-Growth-MoatTitanHDFC Bank
20 min
Workshop
3.5
DCF Valuation — The Theoretically Correct Method
Time value of money, projecting free cash flows, WACC, terminal value, discounting to present value. Full DCF for Asian Paints. Sensitivity analysis — mandatory, not optional. When NOT to use DCF.
Free Cash FlowWACCTerminal ValueSensitivity Table
20 min
Workshop
3.6
The Graham Number and Graham Formula
Graham Number = √(22.5 × EPS × BV). Graham Growth Formula: IV = EPS × (8.5 + 2g). Net-Net concept. Why these are conservative floors, not ceilings, for high-quality franchises.
Graham NumberGrowth FormulaNet-Net
20 min
Lesson
3.7
Dividend Discount Model (DDM)
Valuing a stock as the PV of all future dividends. Gordon Growth Model: P = D1 / (r − g). When DDM applies in India — PSUs, mature FMCG, utilities. Coal India worked example.
Gordon Growth ModelCoal IndiaPSU Applicability
20 min
Lesson
3.8
Which Valuation Method to Use When
Decision matrix by business type. Growth companies, banks, cyclicals, loss-makers, PSUs, infrastructure. The cyclical valuation trap — why a 4x P/E steel stock at peak earnings is actually overvalued.
Decision MatrixCyclical TrapBank P/B
20 min
Lesson
3.9
Building Your Own Valuation Model
The triangulation approach. Full 7-step end-to-end valuation of D-Mart: data collection, earnings cleaning, PE model, DCF, peer comparison, triangulation, setting buy / hold / sell prices. Updating after quarterly results.
TriangulationD-Mart Case StudyFair Value Range
20 min
Workshop
3.10
When to Buy, Hold, and Sell
The 5-point buy checklist. Hold discipline — when doing nothing is correct. Sell triggers: 25%+ above fair value, broken thesis, governance failure. The 10-item final valuation checklist before any investment.
Buy ChecklistHold DisciplineSell Triggers
20 min
Lesson
★
Project — The Valuation Dossier
Choose any Nifty 500 stock. All 7 steps: collect 10 years of data on Screener.in, clean earnings, PE model (ROCE-Growth-Moat), 5-year DCF with 3×3 sensitivity table, peer comparison, triangulate, state final buy price with margin of safety.
All 7 stepsSensitivity table requiredAny Nifty 500 stock
Self-paced
Project
Next course
04
3h 40m
Runtime
11
Lessons
1
Project
Strategist

How to Build and Manage a Portfolio

Knowing which stocks to buy is only half the job. Knowing how much, how many, when to add and when to cut — that is the other half. And most investors never learn it.

Asset allocation — the decision that explains 90% of returns
Position sizing, Kelly Criterion, and averaging down rules
Core vs satellite framework — build a Rs. 10L portfolio
Rebalancing, LTCG harvesting, and behavioural guardrails
₹3,499 One-time payment
Lifetime access
🌟
Course Project — Build Your Portfolio Blueprint

Design a complete portfolio for a given hypothetical investor profile: asset allocation, market-cap split, core vs satellite holdings with a written thesis per stock, position sizes, sector limits, and a monitoring and rebalancing schedule.

#LessonDurationType
4.1
What Is a Portfolio and Why It Matters
A portfolio is deliberate architecture — not stocks bought on tips. The three dimensions: purpose, risk level, and time horizon. Five signs of a broken portfolio vs five of a well-built one.
Portfolio ArchitecturePurpose & Time HorizonRisk Level
20 min
Lesson
4.2
Asset Allocation — Stocks Are Not Your Whole Life
Asset allocation explains 90%+ of long-term return variability. Asset classes, correlation in crises, the 110-minus-age rule, conservative to aggressive profiles, emergency fund rule, and how life events change the right allocation.
110-Minus-AgeAsset CorrelationEmergency Fund
20 min
Lesson
4.3
Large Cap, Mid Cap, Small Cap — The Risk-Return Ladder
How each tier behaves in bull and bear markets. Historical CAGRs, maximum drawdowns, recovery timelines. Why most retail investors never actually capture the mid/small cap return premium.
Nifty 50 vs Midcap 150Max DrawdownsRecovery Timelines
20 min
Lesson
4.4
How Many Stocks Should You Own?
Concentration vs diversification. Academic data on unsystematic risk elimination. IIM-A research on Indian markets. Buffett's 20-slot punch card vs Graham's 30-stock minimum. Why 50+ stocks is an expensive index fund.
Unsystematic RiskBuffett vs GrahamSweet Spot 15–25
20 min
Lesson
4.5
Position Sizing — How Much in Each Stock
The most ignored skill in investing. Conviction weighting. Kelly Criterion and why Half-Kelly is safer. Valuation-based sizing tied to margin of safety. Hard limits, averaging down rules, staged entry across 3 tranches.
Kelly CriterionConviction WeightingStaged Entry
20 min
Workshop
4.6
Sector Diversification
Why 10 IT stocks is not diversification — the 2022 IT collapse proves it. Sector correlation in India. Defensive vs cyclical vs growth sectors. Max 30–35% in any sector. The sector allocation framework for Indian investors.
Sector CorrelationDefensive vs Cyclical2022 IT Collapse
20 min
Lesson
4.7
Portfolio Construction — Step by Step
Core (70%) vs Satellite (30%) framework. Quality compounder criteria. Sequencing entry over 3–6 months. Full Rs. 10 lakh portfolio walkthrough — 13 positions, sectors, allocations. The construction checklist.
Core vs SatelliteRs. 10L Portfolio3–6 Month Entry
20 min
Workshop
4.8
Portfolio Monitoring — What to Track and How Often
Monitor the business, not the price. Quarterly review: results vs thesis, position sizes, debt levels. Annual review: full annual report, 5-year metrics, promise vs delivery. How to build a portfolio diary.
Quarterly ReviewAnnual ReviewPortfolio Diary
20 min
Lesson
4.9
Rebalancing — The Discipline That Forces Buy Low, Sell High
Portfolio drift silently increases risk in bull markets. Calendar vs threshold rebalancing. When winners grow to 20%+ — trim regardless. Tax: STCG vs LTCG, and how to harvest the Rs. 1.25 lakh annual exemption legally every March.
Portfolio DriftThreshold RebalancingLTCG Harvesting
20 min
Lesson
4.10
Behavioural Mistakes That Destroy Portfolios
The 3–5% annual behaviour gap. Loss aversion and the break-even trap. Recency bias — 2017–18 small-cap story. Over-trading costs. Panic selling history in India. Disposition effect. Written guardrails against your own instincts.
Loss AversionRecency BiasDisposition EffectGuardrails
20 min
Lesson
4.11
The Annual Portfolio Review Framework
The 10-question portfolio health check. Rebuilding valuation models from scratch each year. Measuring performance correctly — XIRR vs absolute returns, benchmarked against Nifty 50 TRI over 3+ years.
10-Question Health CheckXIRRNifty 50 TRI Benchmark
20 min
Lesson
★
Project — Build Your Portfolio Blueprint
Given a hypothetical investor profile. Design the full portfolio: asset allocation, market-cap split, core + satellite stocks with written thesis per holding, position sizes, sector limits, and a complete monitoring and rebalancing schedule.
Asset allocationWritten thesis per stockRebalancing schedule
Self-paced
Project
Next course
05
—
Runtime
—
Lessons
—
Projects
Coming soon

Technical Analysis

Charts, patterns, indicators — how to time entries and exits with precision and discipline. Candlesticks, support & resistance, RSI, MACD, Bollinger Bands, and building a complete trading system.

Candlestick & chart pattern mastery
Support, resistance & trend lines
RSI, MACD, Bollinger Bands & more
Building a complete trading system
This course is currently in production. Lesson content will be added here once it launches.