Module 4 of 5 in Practical stock research
From research to a written thesis
Writing an investment thesis and research report, stating what would prove it wrong, monitoring it, and reviewing mistakes.
5 lessons in this module. Progress is saved in your browser as you go.
Writing forces clarity. This module covers how to turn research into a short thesis with explicit assumptions, what to monitor afterwards, and how to review your own mistakes so that each piece of research makes the next one better. The thesis is an educational exercise in reasoning, never a recommendation.
By the end of this module you should be able to
- Write an investment thesis that states the key assumptions and the evidence for them.
- State in advance what evidence would show the thesis is wrong.
- Monitor a thesis using filings and results, and update conclusions when evidence changes.
- Explain how fundamental and technical analysis answer different questions.
Lessons in order
Module test
10 questions, chosen at random from a bank of 31 questions and balanced across this module's learning goals and difficulty levels. Every question comes with an explanation. You need 80% to pass, and you can retake it as often as you like with a fresh set of questions.
This module builds on
- Building scenarios from assumptions: The report summarises the scenarios and assumptions built there.
- Identifying red flags in practice: The report records red flags and open questions.
- Reading exchange filings: Exchange filings are the main source for monitoring.