FLAME University


The Epicentre of Value Investing in India

The Art of Investing
WITH Neeraj Marathe

(Due to the ongoing COVID-19 situation, all dates may change)

14 July - 17 July, 2022


FLAME was founded with the concept of liberal education as its cornerstone. FLAME celebrates ideas, cherishes diversity, and strives to deliver an academic experience that fosters intellectual curiosity, a critical thought process, selfreflection, leadership and teamwork skills, a sense of commitment and professionalism and a heightened sensitivity to one’s sociocultural environment. FLAME aims to provide an interdisciplinary platform of education by propagating different models and paradigms through, but not limited to, history, philosophy, political sciences, psychology, business, economics, mathematics and finance.

As part of its endeavor to constantly redefine education, FLAME inducted the FLAME Investment Lab (FIL), an initiative that strives to deliver the concepts and decipher the art of value investing to interested students. FIL believes in the dictum “invest in yourself”. It provides tools for self-learning and acquiring knowledge, constantly striving for intellectual stimulation and asking questions. FIL strives to widen your horizons, aiding you to connect the dots within seemingly disparate information. FIL truly believes that the best investment is investing in yourself. As Socrates has said, “I cannot teach anybody anything. I can only make them think.”

After hosting multiple programs and FIL alumni meets that covered topics like valuation, accounting shenanigans, investment checklists, mental heuristics and negotiation amongst others, FIL is planning the ‘FLAME Investment Lab –The Art of Investing’ program with Neeraj Marathe, from July 14 – July 17, 2022.



Neeraj Marathe

Neeraj Marathe

Neeraj is a Pune based investor. He has been a full time participant in the capital markets since 2002. He tries to practice value-based investing. As a hobby, Neeraj has taught in various B-schools as a visiting faculty from 2006-2018, taking up subjects such as Security Analysis, Portfolio Management and Behavioural Finance. He is an active contributor at FLAME Investment Lab. He has recently started a new website www.sentinelresearch.in. He is also an avid reader and biker.


The Art of Investing course will be spread over 4 days and will cover the following topics:

  • Allocation And Position Sizing
  • Softer Aspects Of Investing
  • Investing Own Money Vs Other People’s Money
  • Brushing up the basics
  • Developing an investment philosophy
  • Resources for research
  • How to generate ideas
  • Cyclicality
  • Ratio analysis
  • Analysis through annual reports
  • Analyzing management quality
  • Checklists
  • Circle of competence
  • The art of selling
  • Luck vs skill in investing
  • Disruption
  • Company valuation
  • Portfolio allocation framework

A case-study based approach will be followed for every topic. As such, the instructor and participants will be analyzing and discussing listed Indian companies from an investment angle. The goal would be to understand the subject matter better through live examples and cases.


The program will be value-adding for you:

  • If you are willing to go into the nitty-gritties of analysis.
  • If you are looking to build a full investment philosophy.
  • If you are willing to learn and understand new concepts of analysis and valuation.
  • If you are willing to put in the time and effort of sitting in the classroom and solving case-studies for extended hours.


This program is not suitable for beginners / individuals who are starting off their investment journey. It is expected that the participants know the basics of investing.

The program is not suitable for you if:

  • You do not have working knowledge of financial statement preparation (Balance Sheet, P&L, Cash-flow).
  • You do not know basic ratio-analysis.
  • You have never read an Annual Report.
  • You do not have a basic understanding of stock market operations.

Applicants should carefully consider the above points before applying for the course.


  • A detailed understanding of various frameworks used in the investment process, with case studies.
  • A spirited discussion on various concepts of investing.
  • New techniques of analysis and valuation.
  • Self-discovery about what kind of an investor/analyst you are.


  • No ‘Tips’. Purpose of the program is to understand investing better and become better investors.
  • The instructor has no expertise in technical analysis, various short-term trading strategies etc. Therefore, these aspects will not be covered.


  • Since this is a case-study based approach, it is a must that you bring your own laptop and calculator.
  • Please note that active participation of applicants is a must, since case studies will be covered. You will be required to sit and study cases in class, post which there will be discussions on the same.
  • Participants will be required to come prepared with given pre-course work.
  • Mobile phones will not be allowed in class.
  • There will be one guest session every day.


Candidates who have the aspirations for a successful career in investment management are encouraged to attend. This program is highly recommended for candidates who share our conviction in value investing and behavioral finance.

Each applicant will be evaluated on several criteria to ensure that the participants selected for the program are well-rounded individuals with capacities of contributing to classroom participation and peer learning.

Acknowledging that learning also comes from diverse backgrounds, participants will be selected on the following criteria:

  • Quality and quantity of work experience
  • Commitment and passion for the field of investing
  • Evidence of professional success
  • Education qualifications

FLAME reserves the right for selecting participants to this program.

Only applicants who have not attended a previous ‘FIL - The Art of Investing with Neeraj Marathe’ program will be eligible for selection.


  • INR 34,500 plus GST (INR 40,710) which includes tuition, course materials, meals and on campus accommodation.
  • Fee does not include travel and other incidental expenses.
  • Candidates need to submit the application form online and mail the payment to FLAME. Only cheques will be accepted as a payment method.
  • The cheque payment must reach FLAME by the application deadline. Kindly note, even if the application is submitted, but the payment does not reach FLAME by the application deadline, the application will be deemed incomplete and annulled.
  • Cheques should be made payable to ‘FLAME University’.
  • Cheque should be dated May 2, 2022. Candidates should write their name and the program they have applied for behind the cheque.
  • Cheques should be mailed to ‘FLAME University, Gat No. 1270, Lavale, Off. Pune Bangalore Highway, Pune - 412115, Maharashtra, India.

Refund policy

  • In the event that FLAME University is unable to provide the program, all fees will be fully refundable.
  • For selected candidates:
    • If request for cancellation is received before and upto June 23, 2022, 50% of the fee paid shall be refunded. GST on cancellation will be applicable.
    • If request for cancellation is received after June 23, 2022 but upto July 7, 2022, 25% of the fee paid shall be refunded. GST on cancellation will be applicable.
    • There will be no refund if cancellation is made on or after July 7, 2022.


To apply the applicant must complete the application form at: https://www.flame.edu.in/academics/flame-investment-lab/application-form.


Accommodation will be provided in an AC, single occupancy room to all participants at the FLAME campus in Pune for three nights of July 14, 15 and 16.


14 July - 17 July, 2022.


April 30, 2022.


Confirmation emails will be sent to the selected participants by May 7, 2022.


FLAME University | Gat No. 1270, Lavale, Off. Pune Bangalore Highway, Pune - 412115, Maharashtra, India.


FLAME offers 60 acres of tranquil space, just 13 kms. from the Pune University main gate. It is an eco-friendly campus adjoining a 18-hole golf course. FLAME has an international sized cricket ground, football, tennis, basketball and volleyball courts, outdoor Olympic sized swimming pool, track and field, futsal and handball at their disposal. A fitness and conditioning studio, badminton courts, billiards tables, squash courts, table tennis, carrom and chess ensure that FLAME’s sports facilities are second to none.

Its academic spaces include lecture theatres, conference rooms, a library, a performing arts studio, a visual arts studio, a sculpture studio, Physics, Chemistry and Biology labs, and amphitheatres. Some of the other amenities include cafes, Wi-fi connectivity, an infirmary and an ambulance in case of emergency.

During the duration of the program, participants are encouraged to explore the campus and use the facilities FLAME offers.


Phone: +91 9657709882 (Text & Whatsapp only)
Toll-free No: 1-800-209-4567
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.flame.edu.in


Program Brochure


June 11 - June 12, 2022
July 22 - July 24, 2022
July 28 - July 31, 2022