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THE CURRICULUM

From zero to mastery.

Most people pick up investing in fragments, a tip here, a headline there, and never see how it all fits together.

This is the whole thing, in order. The tracks run from what a stock is to how a fund builds a position, each one a short, structured sequence where every concept builds on the one before it.

Follow it end to end for a complete grounding, or drop into the track you need today. Every step links to the full explainer, so the depth is always one click away.

1

Foundations

No prior knowledge needed. Start here.
2

Core

The forces and tools every investor leans on.

2. Macro & Interest Rates

16 steps

Growth, inflation, the Fed, and the yield curve, the forces that move every asset class.

Builds on Foundations of Markets

Fed FundsThe FedFOMCYield CurveTreasuriesReal vs NominalQE & QTJobsPMICredit SpreadsThe DollarTaylor RuleRepo MarketSOFRRecessionPhillips Curve
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3. Reading Financial Statements

16 steps

The three statements, what each line means, and how to read a 10-K without getting lost.

Builds on Foundations of Markets

Income StatementRevenue RecognitionEBITDABalance SheetWorking CapitalCash Flow StatementOperating Cash FlowFree Cash FlowDiluted EPSThe 10-KGAAP vs Non-GAAPGoodwillEquityCurrent AssetsInvesting CFFinancing CF
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4. Valuation Essentials

15 steps

How investors turn growth, margins, and rates into a price, from multiples to a full DCF.

Builds on Reading Financial Statements

Market CapEnterprise ValueP/E RatioPEG RatioP/B RatioEV/EBITDAIntrinsic ValueDCFDDMCompsTerminal ValueP/S RatioP/FCFPrecedentsWACC
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5. Behavioral Finance

15 steps

Why investors act against their own interest, the biases that move prices and wreck returns.

Builds on Foundations of Markets

Prospect TheoryLoss AversionConfirmation BiasAnchoringHerdingOverconfidenceDisposition EffectRecency BiasMental AccountingSunk CostAvailabilityFramingHindsightNarrativeEndowment
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6. Tax & Accounts

14 steps

How gains and dividends are taxed, and the accounts that shelter returns, from IRAs and 401(k)s to ISAs.

Builds on Foundations of Markets

Capital GainsCost BasisQualified DividendsTax-Loss HarvestingWash-Sale RuleTaxable vs ShelteredTraditional IRARoth IRA401(k)Roth 401(k)Backdoor RothHSAAsset LocationISAs & SIPPs
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3

Intermediate

Put the pieces together into a process.

7. Equity Analysis

16 steps

Profitability, returns on capital, moats, and quality, separating great businesses from cheap ones.

Builds on Valuation Essentials

ROEROAROICMarginsDebt/EquityInterest CoverageEconomic MoatCAGRGrowthDuPontCash ConversionOwner EarningsLiquidity RatiosAltman ZPiotroski FWorking Capital
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8. Financial Modeling

16 steps

From a three-statement model to LBOs and merger math, the mechanics of building a forecast.

Builds on Valuation Essentials

3-Statement ModelRevenue BuildOpex ModelingDebt ScheduleWorking CapitalSensitivity TablesDCF SensitivityScenariosLBO ModelMerger ModelFootball FieldRevolverCircularityMonte Carlo DCFAPVPro Forma
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9. Technical Analysis

18 steps

Charts, trend structure, momentum, and volatility, how price behavior is read and traded.

Builds on Foundations of Markets

CandlesticksTrendSupportBreakoutsMoving AveragesGolden CrossMACDRSIBollinger BandsATRFibonacciVolume ProfileStochasticsADXIchimokuHead & ShouldersVWAPElliott Wave
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10. Portfolio Construction

16 steps

Combine assets into a portfolio: correlation, the efficient frontier, allocation, and rebalancing.

Builds on Valuation Essentials & Macro & Interest Rates

DiversificationCorrelationCovarianceMPTEfficient FrontierCAPMAllocationTactical TiltsRebalancingRisk Parity60/40Factor ExposureFama-FrenchBlack-LittermanMin VarianceGlide Paths
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11. Fixed Income & Credit

18 steps

Yields, duration, convexity, and credit, how bonds are priced and how rate risk is measured.

Builds on Macro & Interest Rates

Bond BasicsCoupon vs YieldYTMCurrent YieldPrice/YieldMacaulay DurationModified DurationConvexityCredit RatingsIG vs HYTreasuriesCorporatesYield to CallYield to WorstEffective DurationKey-Rate DurationMunisMBS
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12. Foreign Exchange

10 steps

How the currency market works: pairs, pips, leverage, and the macro forces that move exchange rates.

Builds on Macro & Interest Rates

What Is ForexCurrency PairsBase vs QuotePipsLots & SizingLeverage & MarginFX SpreadRollover & CarryWhat Moves FXSessions
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4

Advanced

Instruments and strategies for serious depth.

13. Risk Management

18 steps

Measure and control risk: beta, volatility, value-at-risk, drawdowns, and stress testing.

Builds on Portfolio Construction

What Is RiskSystematic RiskBetaAlphaStd DeviationVaRCVaRDrawdownSharpeSortinoTracking ErrorStress TestsTreynorInformation RatioKellyLiquidity RiskTail RiskMonte Carlo
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14. Derivatives & Options

19 steps

Futures, options, and the Greeks, instruments for hedging, leverage, and expressing precise views.

Builds on Valuation Essentials

FuturesContract SpecsOptionsStrike & ExpiryPremiumIntrinsic/TimeImplied VolDeltaGammaThetaVegaCovered CallRhoPut-Call ParityProtective PutVertical SpreadIron CondorStraddleBlack-Scholes
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15. Trading & Execution

18 steps

Order types, the order book, margin, settlement, and market structure, getting a trade done well.

Builds on Technical Analysis

Market OrderLimit OrderStop OrderBid-Ask SpreadOrder BookDark PoolsShort SellingMargin (Reg T)SettlementPFOFTime in ForceCircuit BreakersStop-LimitTrailing StopOCO / BracketShort InterestSec LendingMaker-Taker
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16. Quantitative Methods

12 steps

Backtesting discipline, the biases that fool you, and the statistics behind systematic strategies.

Builds on Risk Management

BacktestingWalk-ForwardOverfittingLook-Ahead BiasSurvivorshipSignal DecayGARCHCointegrationKalman FilterTCAMarket ImpactShortfall
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17. Advanced Strategies

18 steps

Active and systematic strategies that combine everything: factors, long/short, arbitrage, and macro.

Builds on Derivatives & Options & Quantitative Methods

ValueGrowthMomentumQualityLong/ShortMarket NeutralMerger ArbStat ArbGlobal MacroEvent-DrivenPairs TradingCarry TradeContrarianGARPTrend FollowingMean ReversionActivistManaged Futures
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18. Alternatives & Structures

17 steps

Private markets, real assets, commodities, and crypto, the alternative side of a portfolio.

Builds on Portfolio Construction

Private EquityVenture CapitalHedge FundsREITsCommodity CurvesContangoCryptoInfrastructurePrivate CreditLP/GP EconomicsCarry WaterfallGoldFFO / AFFOOil BenchmarksClawbacksContinuation FundsTimber & Farmland
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19. Crypto & DeFi

12 steps

Tokens, stablecoins, AMMs, staking, and the market structure of decentralized finance.

Builds on Foundations of Markets

Proof of WorkProof of StakeERC-20StablecoinsPeggingAMMsImpermanent LossYield FarmingPerpsLayer 2TVLGovernance
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20. Insurance & Annuities

8 steps

Insurance products as investments: annuities, riders, and permanent life insurance, with the real trade-offs.

Builds on Portfolio Construction

AnnuitiesFixed AnnuitiesVariable AnnuitiesIndexed AnnuitiesRiders & SurrenderLife as InvestmentUniversal LifeLongevity Risk
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