FLAME University

FLAME INVESTMENT LAB

The Epicentre of Value Investing in India

FLAME INVESTMENT LAB - VALUE INVESTING BLUEPRINT 2018 - 1

Date: February 24 - March 11, 2018


About FLAME University

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, self-reflection, 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.


About FLAME Investment Lab

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.”

Our Philosophy

FLAME Investment Lab Resources

Over the years, FLAME Investment Lab has been able to attract the most revered and noted investment minds of the country. Their candid sessions elaborating their investment experience has gone a long way in shaping the investment thought processes of the participants.

Some of the wisdom from these investment masters can be found at:
http://www.flame.edu.in/academics/flame-investment-lab/resources


About the Program

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 a second batch of, ‘FLAME Investment Lab –Value Investing Blueprint 2018 - 1”.

This program on ‘Value Investing Blueprint’ will be spread over three weekends (Saturday and Sunday), and will include sessions on:

  • Practical, time-tested ideas in value investing.
  • Identifying competitive moats and analyzing specific sectors to help you build your circle of competence.
  • Psychology of investing and building a latticework of mental models to make better investment decisions.
  • Analyzing financial statements.
  • Estimating intrinsic values.
  • Creating a portfolio of high-quality businesses.

This program is designed to provide a framework for investment decision making. It is not about technicals or quantitative
models. There will be no stock recommendations. Self-study during the week, in between the class sessions, will be expected. This self-learning will be guided by a recommended list of books to be read. Participants will be able to borrow these books from the FLAME Vivekananda Library.

By the end of this program, you will be able to judge whether being a value investor is the right career path for you. At the very least, you will know what qualities to seek in your financial advisor. Value investing is a journey. It can’t be learnt in three weeks or even a few years. As Warren Buffett has said, “It is extraordinary to me that the idea of buying dollar bills for 40 cents takes immediately with people or it doesn’t take at all. It’s like an inoculation. If it doesn’t grab a person right away, I find you can talk to him for years and show him records, and it doesn’t make any difference.”

Please note that there will be an optional test at the end of the program. A certificate will be awarded to all participants who clear the test.

Detailed schedule of the program is provided in Annexure I.


Faculty

Vishal Khandelwal is the founder of SafalNiveshak.com, an initiative dedicated to helping people become smart, independent, and successful in their investment decision making. Vishal has around 14 years’ experience as a stock market analyst and investor, and six years as an investing coach. Safal Niveshak, which he started in 2011, is now a community of 38,000+ dedicated readers, and was recently ranked among the best value investing blogs worldwide.


Selection Criteria

Total capacity is 30 candidates for the course. Selection will be based on scrutiny of a brief profile of the applicants.


Application Procedure

To apply the applicant must:

  • Submit the application from here.
  • Attach current resume / one-page profile.
  • If sponsored by employer, attach sponsorship letter on company letterhead.

Program Fees

  • INR 30,000 which includes tuition, online availability of course material (six detailed modules) and meals. Fee does not include travel and other incidental expenses.
  • Fees should be paid in cheque or demand draft and made payable to “FLAME University Pune” at Pune.
  • Payment should be mailed to - FLAME University, 401, Phoenix Complex, Bund Garden Road, Opp. Residency Club, Pune - 411001, Maharashtra, India.
  • For cancellations, please send an advance notice to the programme team at This email address is being protected from spambots. You need JavaScript enabled to view it.. There will be no refund for cancellations.

Accommodation

No accommodation is provided to participants on campus for the program. We recommend staying at Marriott Courtyard, Hinjewadi. Candidates are requested to book their accommodation directly with them.
Approx. tariff is INR 6000 + Taxes Single Occupancy per night.
For Mariott Courtyard contact details, please write to us at This email address is being protected from spambots. You need JavaScript enabled to view it..


Application Deadline

January 12, 2018


Selection Notification

January 25, 2018 (Payments will be deposited after selection notification.)


Date

Three Weekends:
February 24 - February 25, 2018
March 03 - March 04, 2018
March 10 - March 11, 2018

Saturday: Sessions will be conducted from 9.00 am to 6.00 pm.
Sundays: Sessions will be conducted from 8:30 am to 4:00 pm.


Venue

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


Infrastructure & Facilities

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 a football ground, international size cricket ground, tennis courts, basketball and volleyball courts, gymnasium and an outdoor swimming pool. FLAME also has a floodlit indoor sports hall with facilities for badminton, snooker and table tennis.

Its academic spaces include lecture theatres, conference rooms, a library, a performing arts studio, a visual arts studio, a sculpture studio, Physics, Chemistry & 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.

Library of Mistakes
FLAME University's Vivekananda library has become the first ever International branch of Library of Mistakes, Edinburgh. It is the only international branch outside of the home country. The Library of Mistakes, Edinburgh, is founded by the renowned market historian, Russell Napier. It provides a resource for the study of mistakes made in the sphere of business and finance, learning from the economic disasters of the past thereby improving financial understanding amongst professionals, students and the public. It focuses on the recorded uncertainty of how things work in the real world following the financial experiments of the past which ended in success and failures alike. Participants are allowed to browse through the resources of the Library of Mistakes at the FLAME Vivekananda Library.


Contact

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



Annexure I

Lecture Focus
Lecture I How compounding works, fundamentals of value investing:
  • Being a value investor
  • Tenets of Ben Graham, the father of Value Investing
  • Evolution of value investing – from Graham to Buffett
  • Most important things in investing
Lecture II Creating the mindset of a value investor:
  • Psychology of investing
  • Behavioural biases and how they are an investor’s worst enemy
  • Developing multidisciplinary thinking
  • How to think about the stock market
Lecture III Business analysis and building your circle of competence:
  • Framework to analyze industries
  • Businesses – Great, good, and gruesome
  • Assessing growth
  • Competitive moats – Assessment and sustainability
  • Identifying moats through key numbers
  • Assessing quality of management
Lecture IV Financial Statement Analysis:
  • Learn the language of business i.e., accounting, how to analyze financial statements, identify connections between them, how to detect financial frauds.Project - Reading annual reports of a business of choice (minimum 7-10 years study) while staying within respective circles of competence. Conducting analysis – quantitative and qualitative – learned so far, and presenting the case. Learning how to analyze business quality and management’s track record of financial performance and capital allocation.
Lecture V Valuation:
  • “Intrinsic value is fuzzy but very important,” said Warren Buffett. Keeping this in mind, learn how to value businesses using simple models.
  • Paying up vs Overpaying
Lecture VI Making Investment Decisions:
  • Creating a sound investment philosophy
  • Power of checklists
  • Value of process and discipline
  • Dealing with risk and uncertainty
  • Concentration vs diversification
  • Constructing a portfolio