We're not here to sell you overnight success stories. Our program teaches fundamental analysis through real market scenarios, starting September 2025. You'll spend months understanding what drives company valuations—because that's how long it actually takes.
View Program OptionsMost courses promise shortcuts. We don't, because there aren't any. Our approach comes from years of working with Thai investors who needed more than just formulas—they needed context.
Every week you'll analyze real Thai companies. Not theoretical examples—actual businesses with messy financials and complicated stories. You'll learn to spot patterns that textbooks miss.
We start with balance sheet basics in month one. By month six, you're evaluating competitive moats and management quality. Rushing through this stuff doesn't work—we've tried.
Thai markets have their own rhythms. We teach you how sector rotations work here, why certain valuation methods matter more in emerging markets, and when local news actually impacts fundamentals.
You'll submit analysis reports monthly. We give detailed feedback—not just grades. This is where most learning happens, in the back-and-forth about what you got right and what you missed.
These are actual experiences from our 2024 cohort. No inflated success metrics—just honest accounts of what learning fundamental analysis looks like over time.
6 Months In
Siriporn joined in March 2024 thinking she'd master everything in weeks. Three months later, she was still struggling with cash flow statements. But she stuck with it, and by September something clicked.
"I finally understood why debt ratios mattered differently across industries. That took way longer than I expected, but now I can actually explain it to others."
9 Months In
Krit came from an engineering background with zero finance experience. His first few assignments were rough. Lots of red ink in the feedback. But he improved steadily through consistent practice.
"Around month seven, I stopped second-guessing every calculation. I'm not perfect, but I can look at a company report now without feeling lost."
12 Months In
Ploy finished the program in January 2025. She's still learning—that never stops—but now she has frameworks for evaluating investments that go beyond just reading analyst reports.
"I'm more cautious now, which sounds bad but isn't. I know what I don't know, and I'm comfortable digging deeper before making decisions."
Valuation methods aren't universal. What works on Wall Street needs adjustment for emerging markets like Thailand. Here's what we've learned from analyzing hundreds of SET-listed companies.
Price-to-earnings ratios get thrown around constantly, but they're meaningless without sector context. A P/E of 15 might signal undervaluation in tech, while the same ratio in utilities could indicate overheating. Thai markets have their own historical norms, influenced by local liquidity patterns and foreign investment flows.
We spend considerable time on discount rate selection. The textbook WACC formula needs tweaking here. Country risk premiums matter. Currency exposure matters. Government policy shifts matter more than in developed markets. Students initially hate how complicated this gets, but it's where real analysis begins.
New analysts often apply growth assumptions that ignore economic cycles. Thai GDP doesn't grow linearly. Tourism, exports, and domestic consumption all have their own rhythms. Your DCF model should reflect that reality, not some optimistic straight-line projection.
Book value takes on different significance in markets where assets might not be marked to market frequently. Real estate holdings, especially, can hide considerable value or risk depending on location and development cycles. We teach students to dig into footnotes—that's where the real story lives.
And here's something most courses skip: understanding when NOT to value a company. Some businesses are too unpredictable, too dependent on regulatory whims, or operating in sectors you simply don't understand well enough. Knowing your limits is part of fundamental analysis.