Investing & Finance Masterclass

January 13, 14, 20 & 21, 2017

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

About the Instructor
Skogafoss Waterfall
Mount Myōkō

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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Skogafoss Waterfall
Mount Myōkō

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.

Friday, January 13, 2017
8:30 AM Registration, Morning Coffee, Professor Available for Individual Discussions and Questions
9:00 AM How to Beat the Market: Informational, Emotional, and Analytical Advantages
Workshop: Diving into a Fundamental, Cross-Capital Research Database
12:00 PM Lunch Break
1:00 PM Strategic Valuation: Enhancing the Performance Measurement and Valuation Toolset
Workshop: Sophisticated Idea Generation Using Enhanced Screening Tools
5:00 PM Adjourn


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.

“...insights are needed to connect core principles of wealth creation to both reported financial performance and firm valuations in the stock market. They've put it all together for you...”

Bartley J. Madden, Author of the book, "CFROI Valuation: A Total System Approach to Valuing the Firm"

“...what we as educators and thought leaders should embed in our curricula and teachings in business schools throughout our education programs...”

Arthur Kraft, Ph.D., Chairman of the Board of Directors of The Association to Advance Collegiate Schools of Business

What Others Are Saying...

…allows the investor to judge the ability of companies to create lasting value and should be part of any investor's stock selection process...”

Alfred Jackson, Former Head of Global Equity Research at Credit Suisse First Boston and Number-One-Ranked Stock Analyst

summarizes a breakthrough study that will change the way business will be done. It offers a simple and comprehensive framework for taking on today’s complex business world...”

Hitendra Patel, Ph.D., CEO of the IXL Center, Former Senior Leader of the Innovation Practice of the Monitor Group, and Author

...provides a framework for placing any business discipline in the perspective of overall business strategy...

Belverd E. Needles, Jr., PhD. CPA, Ernst & Young Distinguished Professor of Accountancy, DePaul University, Past President of IAAER

provides the finance leader with a good idea on the key elements of a strategy for your business and personal career aspirations... very practical...”

Kirk Ho, Former Senior Regional Finance Director, Crocs, Inc.

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.




Seat Rates


Walk-In Registration P59,900
Online Registration (30% off) P41,990


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 

Main Course

Tuscan Lemon Chicken w/ Roasted Vegetables 
Rosemary Brown Rice


Panna Cotta

Afternoon Snack

Tuna on Wheat w/ Alfalfa Sprouts


Saturday, January 14, 2017
8:30 AM Registration, Morning Coffee, Professor Available for Individual Discussions and Questions
9:00 AM Incentives Dictate Behavior: Understanding capital markets, biases and info sources
Workshop: Identifying Highest Alpha Generating Potential 
12:00 PM Lunch Break
1:00 PM Achieving Informational & Analytical Advantages

-Investigative Investing
-Return Driven Strategy
Workshop: Single Stock Analysis and Investigative Fundamental Research

5:00 PM Adjourn


Friday, January 20, 2017
8:30 AM Registration, Morning Coffee, Professor Available for Individual Discussions and Questions
9:00 AM The Root of Valuation: Linking Strategy, Actions, Performance, and Forecasts
Workshop: Incorporating the Info that Matters Most into The Investment Thesis 
12:00 PM Lunch Break
1:00 PM Where Research Has Gone Right: Research that Has Led to Billions in Profits
Workshop: Finalizing the Elements of Alpha Generation in a Particular Stock
5:00 PM Adjourn


Saturday, January 21, 2017
8:30 AM Registration, Morning Coffee, Professor Available for Individual Discussions and Questions
9:00 AM Summarizing, Evaluating, and Re-Evaluating the Mispricing Story
Workshop: The Difference Between Current Market Pricing and Opportunity
12:00 PM Lunch Break
1:00 PM Tying it All Together: Extremely Practical Methods and Tools for Utilizing ASAP

-Portfolio Strategy Vis a Vis Active Investing Opportunities
-Closing Notes: Breaking Valuation Biases


5:00 PM Adjourn


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