Master Financial Valuation from Real Market Experience
12-Month Professional Development Track Starting September 2025
We built this program after working with dozens of analysts who struggled with the same thing—theory was easy, but applying it to actual companies felt like guessing. Our curriculum focuses on the messy reality of valuation work. You'll spend most of your time analyzing real financial statements, not memorizing formulas. The cohort starting in fall 2025 will work through fifteen complete company valuations across different sectors.
Request Program DetailsWhat You'll Actually Learn
Most valuation courses teach you DCF models. That's fine, but it's maybe 30% of what you need. The rest is judgment—knowing when a company's guidance is realistic, spotting accounting adjustments that matter, understanding why two analysts can look at the same numbers and reach different conclusions. That's what this program focuses on.
Financial Statement Analysis That Goes Beyond EBITDA
Three months working through income statements, balance sheets, and cash flow statements with an emphasis on what actually moves valuations. We use statements from companies that have messy situations—restructurings, acquisitions, one-time charges—because that's what you'll encounter.
- Quality of earnings assessment across different accounting standards
- Working capital analysis for companies with complex operations
- Cash flow adjustments and normalized earnings calculations
- Spotting red flags in footnotes and MD&A sections
Valuation Approaches That Clients Actually Use
DCF, comparables, precedent transactions—you'll learn all three, but more importantly, you'll learn which one matters most in different situations. A tech startup values differently than a utility company. We spend four months on this because rushing through valuation methods is how people end up with models that look impressive but make no practical sense.
- Building defensible DCF models with realistic assumptions
- Selecting and adjusting comparable companies and transactions
- Cost of capital estimation for different capital structures
- Terminal value calculations that withstand scrutiny
Sector-Specific Valuation Work
The final five months focus on how valuation changes across industries. Retail companies need inventory analysis. Banks require entirely different approaches. Real estate has its own metrics. You'll complete comprehensive valuations in at least five different sectors, working with actual 10-Ks and annual reports.
- Industry-specific value drivers and key performance metrics
- Adjusting models for regulatory environments and business cycles
- Building sensitivity analyses that reflect real uncertainties
- Presenting valuations with clear assumptions and limitations
Gerald Morrison
Lead Program Instructor
Spent twelve years doing equity research at regional investment firms before switching to teaching. Still consults on valuations occasionally, which keeps the curriculum grounded in current practice rather than textbook theory.
- CFA Charter holder since 2016
- Previously covered industrials and materials sectors
- Published over 200 equity research reports
- Guest lecturer at three regional universities
How the Program Actually Works
A realistic look at what each phase involves
This isn't a fast track. You'll need about 15 hours per week throughout the year. Most participants keep their current jobs and do coursework evenings and weekends. The structure is designed around that reality—deadlines are flexible within reason, and we record all live sessions.
Enrollment and Setup
Applications open January 2025 for the September cohort. We accept about 35 people per cohort to keep groups manageable. You'll need basic Excel skills and some exposure to financial statements—this isn't an intro course. Before the program starts, you'll get access to prep materials covering accounting basics.
- Application review typically takes two weeks
- Pre-program assessment to gauge starting knowledge
- Access to financial modeling template library
- Introduction to your cohort group and teaching assistant
Active Learning Period
Weekly assignments, monthly comprehensive projects, and quarterly live sessions with Gerald. The assignments build on each other—you'll often revisit a company you valued earlier with new techniques. Most people find months 4-7 the most challenging when you're juggling multiple valuation methods simultaneously.
- Weekly module releases with video lectures and reading materials
- Biweekly office hours for technical questions
- Peer review system for major valuation projects
- Access to database of historical financial statements
Capstone and Completion
Final three months involve a comprehensive valuation project on a company of your choice. You'll present it to a small group of working analysts who provide feedback. Some participants use this as a writing sample for job applications. Program wraps up in August 2026, and you'll have ongoing access to updated materials.
- Selection from approved list of complex valuation candidates
- Three rounds of instructor feedback on draft work
- 30-minute presentation to evaluation panel
- Certificate of completion and program transcript
Questions People Usually Ask
We get the same questions from prospective participants. Here's what matters most to people trying to figure out if this program makes sense for them.
What background do I actually need?
You should understand basic financial statements and be comfortable with Excel. If you've taken an accounting course or worked with budgets professionally, that's usually enough. We've had participants from banking, corporate finance, and even some career switchers from engineering backgrounds. The prep materials help level everyone's starting point.
How much time does this really take?
Plan on 12-18 hours per week. Some weeks are lighter when you're just watching lectures. Others are heavier when you're working on comprehensive valuations. The time commitment is front-loaded—the first four months are the most intensive as you're building foundational skills. After that, it's more about applying what you've learned.
Is this going to help me get a different job?
That depends entirely on your current situation and career goals. Some participants use it to move from corporate roles into investment analysis. Others just want to be better at their current jobs. We don't make placement promises because hiring depends on way too many factors. What we can say is that you'll have portfolio pieces and practical experience to discuss in interviews.
What if I fall behind on the schedule?
Life happens. We build in flexibility, but you can't fall too far behind without losing the thread. Most cohorts have 2-3 people who need to take a month off for work or personal reasons. You can usually catch up, but it requires concentrated effort. The teaching assistant checks in with anyone who misses multiple assignments to work out a recovery plan.
How does this compare to a CFA program?
Completely different focus. CFA covers a broad range of investment topics over several years. This program goes deep on valuation specifically over twelve months. Some participants are working on CFA simultaneously. The content overlaps in places but our approach is more hands-on with less emphasis on memorization and more on practical application.
What happens after the program ends?
You keep access to all course materials and updates. We run optional quarterly workshops where alumni can work through new valuation cases together. There's also a private forum where past participants discuss current market situations and challenging valuation scenarios. Some people find the alumni network as valuable as the course itself.
Ready to Start Planning?
Applications for the September 2025 cohort open in early January. If you want to talk through whether this program fits your goals, reach out. Gerald does 20-minute consultation calls with prospective participants to help them make informed decisions.
Schedule a Consultation