Fundamental Principles of the Stock Market, From 0 to 1 in the Stock Market

From 0 to 1 in the Stock Market

Fundamental Principles of the Stock Market

Fundamental principles of the stock market, earnings reviews and research. My name is Giuliano Mana, I’m 23 years old. I have a B.A Degree in Finance and I’m a Master’s candidate at Brandeis IBS. I’ve been thoroughly going over huge amounts of reading material regarding the stock market and hope to transmit some insights here.

Equity Bottom-Up

<div data-attrs='{"url":"https://www.0to1stockmarket.com/subscribe?","text":"Subscribe","language":"en"}' data-component-name="SubscribeWidgetToDOM"><div><form class="subscription-widget-subscribe"><div><ul><li><span style="font-size: var(--content-font-size);">Microsoft reported results on January 30</span><sup>th</sup><span style="font-size: var(--content-font-size);">. The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr CAGR of 13.8%. </span></li><li><span style="font-size: var(--content-font-size);">It’s worth highlighting that Activision contributed to 4pp of revenue growth. </span></li><li><span style="font-size: var(--content-font-size);">During July, a court filing was leaked, which illustrated </span>management’s self-stated ambition<span style="font-size: var(--content-font-size);"> for the next decade.</span></li></ul></div></form></div></div>

Microsoft reported results on January 30th. The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr CAGR of 13.8%. It’s worth highlighting that Activision contributed to 4pp of revenue growth. During July, a court filing was leaked, which illustrated management’s self-stated ambition for the next decade.

Next Generation Financial Data Tools, Calcbench

Calcbench

Next Generation Financial Data Tools

Founded in 2011, based in New York and Cambridge, MA, Calcbench is a financial data platform designed for detailed fundamental research. Created by former analysts and supported by a team of financial experts with serious credentials in Finance, Accounting, and Applied Mathematics, Calcbench helps analysts looking to go a level deeper become more productive and accurate in their financial analysis. With Calcbench, analysts can systematically access all the data (numbers and text) in financial statements, including the details hidden within the footnotes.

Thematic (Sector/Industry)

<ul>
<li>Quick Takes on Microsoft, Google Tech giants Microsoft ($MSFT) and Google ($GOOG) both filed their latest quarterly earnings releases on Tuesday — giving us an excellent opportunity to showcase how Calcbench can help you dive into the details of their operating segment performance.</li>
<li>Lots of charts and tables coming up! For example, we looked at the segment-level disclosures in Microsoft’s earnings release , which Calcbench lets you export into Excel.</li>
<li>With just a few keystrokes that led to Figure 1, below, which lets us see which of Microsoft’s many lines of business grew the most year over year.</li>
</ul>


Quick Takes on Microsoft, Google Tech giants Microsoft ($MSFT) and Google ($GOOG) both filed their latest quarterly earnings releases on Tuesday — giving us an excellent opportunity to showcase how Calcbench can help you dive into the details of their operating segment performance.
Lots of charts and tables coming up! For example, we looked at the segment-level disclosures in Microsoft’s earnings release , which Calcbench lets you export into Excel.
With just a few keystrokes that led to Figure 1, below, which lets us see which of Microsoft’s many lines of business grew the most year over year.


Research from Value Investing, Value Investing

Value Investing

Research from Value Investing

I am a value investor. "Value", as defined in Value Investing, is simply the act of buying something for less than its worth. I treat my equity investment as a loan to the business - where the priority is to get back my principal in full, rather than achieving maximum yield. I consider my equity investment as a slightly higher risk loan extended to the business with slightly more accommodative loan covenants - hence justifying a slightly higher yield. While I identify as a value investor and cover all stocks and macro topics indiscriminately, most of my research will have an ASEAN bent as that’s where I’m geographically located.

<ul><li>The red &amp; blue arrows highlight the apples-to-apples comparisons to be made between the respective bars (more details below)</li><li>Around this time last year , I did a portfolio performance review based on all the stocks I had written about in 2022.</li><li>This article is a repeat of that for all the stocks I had written about in 2023.</li></ul>

The red &amp; blue arrows highlight the apples-to-apples comparisons to be made between the respective bars (more details below)Around this time last year , I did a portfolio performance review based on all the stocks I had written about in 2022.This article is a repeat of that for all the stocks I had written about in 2023.

Value Investing Substack Portfolio Review | Annual Letter 2023

<ul>
<li>The last twelve months were, market-wise, interesting. Multiple things have happened that contributed to changes in my thinking-process.</li>
<li>Refining thoughts and the mental mechanism I utilize to approach portfolio management should lead to success, or at least that is my hypothesis.</li>
<li>Continuous learning allows for building more solid premises. Given time, compound interest sharpens them to the point where chances of error are minimum.</li>
</ul>


The last twelve months were, market-wise, interesting. Multiple things have happened that contributed to changes in my thinking-process.
Refining thoughts and the mental mechanism I utilize to approach portfolio management should lead to success, or at least that is my hypothesis.
Continuous learning allows for building more solid premises. Given time, compound interest sharpens them to the point where chances of error are minimum.


External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Microsoft unveiled two major custom-designed chips for cloud computing at its Ignite developer conference on 15 Nov 2023, Maia 100 AI accelerator and Cobalt 100 CPU.</li><li>Maia 100 was specifically designed with consideration of Azure hardware. It will be mainly used for AI tasks and generative AI for maximized utilization of hardware.</li><li>It will power some of Microsoft’s largest internal AI workloads running on Azure. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Microsoft unveiled two major custom-designed chips for cloud computing at its Ignite developer conference on 15 Nov 2023, Maia 100 AI accelerator and Cobalt 100 CPU.Maia 100 was specifically designed with consideration of Azure hardware. It will be mainly used for AI tasks and generative AI for maximized utilization of hardware.It will power some of Microsoft’s largest internal AI workloads running on Azure. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

Microsoft Q2 Earnings Review

The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr...

From 0 to 1 in the Stock Market

Quick Takes on Microsoft, Google

Quick Takes on Microsoft, Google Tech giants Microsoft ($MSFT) and Google ($GOOG) both filed their latest quarterly earnings releases on Tuesday

Calcbench

Value Investing Substack Portfolio Review | Annual Letter 2023

Around this time last year , I did a portfolio performance review based on all the stocks I had written about in 2022. This article is a repeat of...

Value Investing

2023 Shareholder Letter

The last twelve months were, market-wise, interesting. Multiple things have happened that contributed to changes in my thinking-process.

From 0 to 1 in the Stock Market

Technology (Hardware/Semi)

Microsoft unveiled two major custom-designed chips for cloud computing at its Ignite developer conference on 15 Nov 2023, Maia 100 AI accelerator...

CMB International

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