Investing & Finance Masterclass

January 13, 14, 20 & 21, 2017

©Copyright 2016 Valens Research & Filipino Investing Community. All rights reserved

How to Beat the Market: As Real as it Gets
with Joel Litman, Chief Investment Strategist & Managing Director at Valens Research and Professor at Hult International Business School

The ONLY program taught with an interactive seminar-and-workshop format with real-time analysis, real-time data, and real investment situations -- the closest to being immersed inside a fund manager’s idea generation and stock analysis process

Professor Joel Litman is Chief Investment Strategist in Valens Research covering equities, corporate credit, and global macroeconomic analysis. He is a Full Professor in the Master of Finance, MBA, and Executive MBA Programs at Hult International Business School, a highly ranking international business programs according to FT, Economist, and Bloomberg Businessweek. 

Register before January 12, 2017, to get a whopping 30% discount on registration fees for this Masterclass program.

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COL Training Room

Unit 2404-A, East Tower,

Philippine Stock Exchange Center

Exchange Road, Ortigas, Pasig City

Litman is a member of the Board of Directors of COL Financial Group (PSE:COL) and serves as Chairman/CEO of Valens Research.

Litman has appeared on CNBC Singapore, has been quoted in Barron’s and Institutional Investor, and published in Harvard Business Review. He co-authored the highly-acclaimed book, DRIVEN: Business Strategy, Human Actions, and the Creation of Wealth. Litman has taught and/or guest-lectured at Harvard Business School, Wharton, and LBS as well as for CalPERs, Fidelity, Credit Suisse, among others.

Litman is one of the most prolific speakers in CFA and CPA/CA Societies around the world. He has served as a judge in the Global CFA Institute’s Investment Research Challenge six times.

In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:

• GAAP and IFRS have failed to provide rules for reliable financial statement reporting
• Stock analyst recommendations are not grounded in disciplined financial analysis
• Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
• Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available

We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.

• Corporate credit ratings remain years behind the fundamental underpinnings of company performance
• Stock analysts continue to make recommendations with deeply inherent biases
• Research firms have failed to break down the walls between credit, equity, and macroeconomic research
• The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming

The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.

What Others Are Saying...

This one-of-a-kind 4-day masterclass spread over 2 weeks is an intensive deep dive into the world of valuation from an “extremely practical” perspective. 

Also, the program includes databases, performance metrics, and valuation measures used in some of the world’s largest and most successful fund managers… these are not generally available to the public, however shared with the participants in the program. 

This is NOT your typical valuation course. It may upend your understanding of valuation and value analysis as you’ve ever known it.

The program is a multi-faceted perspective of hedge funds, pension funds, investment banks, equity and credit research, corporate management, and even individual investing.

Using real-life cases, not academic ones, participants incorporate top-down and bottom-up stock-picking methods to walk through a full cycle of an investment process: from macro and sector analysis to idea generation to mis-pricing identification and finally actually pitching stock ideas. 

Fundamental Equity and Corporate Credit Research

Participants are immersed in the link between strategic analysis and valuation -- converting qualitative understanding of company initiatives into quantitative forecasts and valuation models.  

This course builds a skillset for evaluating valuation models as much as the valuations themselves, with a first-hand experience in differences between deep value, value, GARP, and growth investing styles.

Who should attend this Masterclass program?

Equity and corporate credit investment managers, analysts, strategists and others interested in succeeding in the stock market. Also, corporate managers, treasury departments, fund professionals of all types who want to gain a superior understanding of corporate financial statement analysis.

Online Registration Promo valid until January 12

Groups of 3 or more qualifies for a 10% group discount

CFA Charterholders will also get 24 hours of CE credits and a 10% rebate at the event venue

Lunch service by Lily & Rose, famous for organic, homemade-with-love, gourmet dining 

Download your complimentary copy of the precursor working paper here. 

Main Course

Tuscan Lemon Chicken w/ Roasted Vegetables 
Rosemary Brown Rice

Dessert

Panna Cotta

Afternoon Snack

Tuna on Wheat w/ Alfalfa Sprouts