Capstone: Build an Investment Thesis
Research STU Corp from its public information, judge your sources, value it several ways, and write a complete investment thesis with the evidence that would prove it wrong.
What you'll do
You'll take STU Corp from first research to a finished thesis. You'll sort reliable sources from unreliable ones, read its filings and earnings release critically, calculate its main valuation measures, test a discounted cash flow estimate against its price, and decide what margin of safety you'd want. At the end, you'll write your own thesis, including thesis breakers. Your score appears as you go, and nothing is recorded outside this browser.
This capstone draws on
- Where Research Starts
- Primary vs. Secondary Sources
- SEC Filings: 10-K, 10-Q, and 8-K
- GAAP and Non-GAAP Numbers
- Scams: Pump-and-Dumps, Fake Gurus, and Deepfakes
- Market Cap vs. Enterprise Value
- Earnings Multiples: P/E and PEG
- Earnings Yield and Free Cash Flow Yield
- Discounted Cash Flow, Step by Step
- Margin of Safety and Valuation Ranges
- Building an Investment Thesis
- Fact, Interpretation, and Confirmation Bias
This capstone is for members
Membership opens every lesson in the curriculum, the capstone projects, the interactive tools, and the members-only channels in the Hyperion Entities Discord. The first lesson of every module stays free.