This course is designed for the students to foster their understanding of financial reports in investing decisions. The materials discussed in the class include, but not limit to, Warren Buffett’s Annual Letter (1965-2020) to Shareholders. This course aims to enhance the students’ ability in value investment. After taking the class, students should achieve the following learning objectives:

1. Applying quantitative methods to measure the intrinsic value of stocks, 

2. Applying and innovating technology for simulating investments, 

3. Enhancing students’ knowledge regarding the developments of the related research,

4. Increasing students’ understanding of international financial markets and instruments.

5. Attending international business stockholder’s annual meeting.

6. Presenting your idea in the international conference.

Class hours: Thursday, 0900 ~ 1200 (GMT+8)

Course schedule (tentative):

• Week 1: Syllabus, Introduction and Video Watching, (lecture, discussions)
  https://www.youtube.com/watch?v=iEgu6p_frmE
• Week 2: Warren Buffett’s Annual Letter (2010) to Shareholders (lecture, group discussions)
• Week 3: Warren Buffett’s Annual Letter (2010) to Shareholders (lecture, group discussions)
  https://www.youtube.com/watch?v=DlA2jMueIyc&t=9s
• Week 4: Warren Buffett’s Annual Letter (2009) to Shareholders (lecture, group discussions)
• Week 5: Warren Buffett’s Annual Letter (2009 and 2014) to Shareholders (lecture, group discussions)
  https://www.youtube.com/watch?v=Bxqre8vPYBo
  https://www.youtube.com/watch?v=sJAiTsxK9ik (Ariel Hsing)
• Week 6: Warren Buffett’s Annual Letter (2014) to Shareholders (lecture, group discussions)
• Week 7: Warren Buffett’s Annual Letter (2020) to Shareholders (lecture, group discussions)
• Week 8: Warren Buffett’s Annual Letter (2020) to Shareholders, Video Watching
  https://www.youtube.com/watch?v=l1EMkanyz5Y
• Week 9: Mid-term Exam or Group Project Presentation
• Week 10: Governance (lecture, group discussions)
  https://www.youtube.com/watch?v=Gm_fVFNx4VU (Lawrence A. Cunningham)
• Week 11: Governance (lecture, group discussions)
• Week 12: Corporate Culture (lecture, group discussions)
• Week 13: Valuation (lecture, group discussions)
• Week 14: Valuation (lecture, group discussions) (lecture, group discussions)
• Week 15: History: The American Miracle, (Annual Letter, 2020) (lecture, group discussions)
• Week 16: Buffett on Berkshire Culture (lecture, group discussions)
• Week 17: Munger on “The Berkshire System” (lecture, group discussions)
  https://www.youtube.com/watch?v=YS7j0YrlceE
• Week 18: Final Exam or Group Project Presentation (Value a company)