Learn to invest in stocks — the free 5-week course
Ten short lessons that take you from "what is a stock?" to scoring a real company with the Five Criteria. Each lesson has a video, a short guided read, and one practical action.
Start lesson oneFoundations
What a stock actually is
A share is part-ownership of a real business, not a ticker to trade. Get this one idea right and everything else follows.
How the stock market works
How prices are set, what the market is for, and why it is there to serve you, not instruct you.
Think like an investor, not a trader
The temperament, patience and discipline that separate successful long-term investors from everyone else.
Business quality
What makes a great business
Returns on capital, moats and why a wonderful business at a fair price beats a fair business at a wonderful price.
Reading a business, not a chart
How to judge quality from the numbers that matter, and ignore the noise.
Reading the numbers
The three financial statements
The income statement, balance sheet and cash flow statement — in plain English, and how they link.
Cash flow and debt
Why cash flow matters more than profit, and how to tell if a company’s debt is safe.
Valuation
What a business is worth
The difference between price and value, and the main ways to estimate what a company is really worth.
Margin of safety
Why you never pay full price, and how a discount to value protects you from being wrong.
Putting it together
The full Five Criteria walkthrough
Put it all together: score a real company against the Five Criteria from start to finish.
Ready to go deeper?
Get the full toolkit — valuation models, the scorecard and the eBook — to apply the Five Criteria to real money.