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Part Six · Picking Individual Stocks

Valuation for Investors

Find what a company is worth — multiples, DCF intuition, margin of safety, full thesis.

Price is the last printed trade. Value is what the cash flow justifies. They are rarely the same number, and the gap between them is what valuation work is about. Fifteen lessons that take you from the four standard multiples one at a time — through the DCF intuition that sits underneath them, sector context, mean reversion, margin of safety — and end with reading a complete investment thesis the way a working investor does.

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StartLesson 1 · Price vs Value — What "Worth It" Actually Means
What you’ll learn & rewards15 lessons · Multiple-Literate badge · 540 coins
  • Confidence reading P/E, P/S, P/B, and EV/EBITDA — and when each one is the right tool
  • An intuition for DCF without algebra — what the discount rate is actually doing
  • The growth-vs-value 2×2 and the GARP quadrant most screens miss
  • PEG ratio as a quick screen — and the cases where it lies
  • Dividend yield as a signal vs as a yield trap
  • Sector-percentile reading: the only way to call a multiple cheap or expensive
  • Mean reversion vs secular change — the question that separates value from value traps
  • Margin of safety as a discipline that scales with uncertainty
  • The five-part structure of a complete valuation thesis
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All lessons

  1. 01Price vs Value — What "Worth It" Actually Means
  2. 02P/E — Paying for Earnings
  3. 03P/S — When Earnings Don't Exist Yet
  4. 04P/B — Valuing the Balance Sheet
  5. 05EV/EBITDA — Comparing Across Capital Structures
  6. 06When Each Ratio Is the Right Tool
  7. 07DCF Intuition (Without the Math)
  8. 08Growth vs Value
  9. 09PEG Ratio
  10. 10Dividend Yield as a Valuation Signal
  11. 11Sector-Normal Multiples
  12. 12Mean Reversion vs Secular Change
  13. 13Margin of Safety
  14. 14Common Valuation Traps
  15. 15Putting It Together — A Valuation Read

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