Long-Term Quality Investing with the AuditAlpha™ Stock Analysis Engine

This course is designed for private investors who intend to hold companies for ten years or more and want a rigorous way to distinguish genuinely durable businesses from companies that merely look attractive today.

No trading experience is required. The focus is on business quality, financial durability, competitive advantage, reinvestment and long-term shareholder return.

No formal prerequisite is required. Some familiarity with the income statement, balance sheet, cash-flow statement and common valuation ratios such as P/E is helpful, but the concepts needed for the course are introduced and explained from first principles.

By the end of the course, participants will be able to distinguish a genuine long-term compounder from a company whose current growth or profitability may not be durable.

They will learn to test a company against seven fundamental durability criteria and to recognize when a single structural weakness should disqualify a candidate, however attractive the remaining picture may appear.

Participants will know how to locate and critically assess the underlying evidence in primary sources such as company filings and SEC EDGAR, and how deterministic tests, qualitative analysis and confidence levels can be combined within an auditable analytical process.

They will also learn to assess competitive advantage, pricing power, reinvestment opportunities and capital allocation, and to estimate long-term shareholder return under explicit Bear, Base and Bull scenarios.

Finally, participants will learn to identify what growth expectations are already embedded in the current share price and to recognize the developments that would weaken or invalidate a long-term investment thesis.

The course concludes with complete case studies analyzed at past decision dates, showing the evidence, reasoning and audit trail behind each verdict.

The course is organized in three parts that build on each other.

* The first part introduces the economics of long-term compounding and the Fundamental Durability Gate.

Participants learn why strong recent growth is not sufficient for a ten-year investment and how seven fundamental criteria—earnings power, accounting quality, sustainable returns on capital, cash-flow authenticity, balance-sheet resilience, concentration risk and capital stewardship—are applied as a strict gate rather than averaged into a score.

* The second part examines the mechanisms that allow a durable company to continue compounding.

It covers competitive advantage, pricing power, switching costs, reinvestment opportunities and capital allocation. It also shows how the AuditAlpha™ engine gathers and tests evidence through primary-source retrieval, deterministic tests and LLM-assisted qualitative questions, with each assessment documented through evidence, reasoning and confidence levels. Participants then build Bear, Base and Bull total-shareholder-return scenarios and examine the growth assumptions implied by the current share price.

* The third part applies the complete framework to historical case studies.

Participants work from the underlying filings and financial evidence through the Fundamental Durability Gate, competitive-advantage assessment, reinvestment analysis, valuation and final verdict. The course also examines thesis breakers and the evidence that would justify reconsidering a long-term holding.

1. Long-Term Compounding and the Fundamental Durability Gate

1.1 What Makes a True Compounder?
1.2 Why a Gate, Not a Score
1.3 Earnings Power
1.4 Accounting Quality
1.5 Sustainable Returns on Capital
1.6 Cash-Flow Authenticity
1.7 Balance-Sheet Resilience
1.8 Concentration Risk
1.9 Capital Stewardship

2. Competitive Advantage, Evidence and Long-Term Return

2.1 Primary Sources: Reading Company Filings and SEC EDGAR
2.2 Deterministic Tests and Their Limits
2.3 LLM-Assisted Questions: Resolving, Corroborating and Complementing Evidence
2.4 Confidence Levels and Analyst Review
2.5 Competitive Advantage and Structural Moats
2.6 Pricing Power and Switching Costs
2.7 Reinvestment Runway and Capital Allocation
2.8 Scenario-Based Total Shareholder Return: Bear, Base and Bull
2.9 What the Price Already Assumes: Implied Growth
2.10 Operating the CompounderLens Engine

3. Case Studies, Monitoring and Thesis Breakers

3.1 Case study 1 – e.g., Visa
3.2 Case study 2 – e.g., Moody's
3.3 Reading a Full Audit Trail
3.4 Monitoring a Long-Term Thesis
3.5 Thesis Breakers: When a Compounder Stops Being One

Concepts are developed from first principles through financial evidence, worked calculations and real-company examples, with emphasis on understanding the reasoning behind each criterion rather than mechanically applying a checklist.

No formal evaluation; self-assessment is encouraged throughout the course through worked examples and case-study exercises.

Participants receive a certificate of completion from Your Science, a ministerially authorized training provider, confirming participation in long-term equity analysis, durability assessment and analytical engine operation.

Participants receive 85 pages of lecture notes containing structured explanations, worked examples, analytical templates and the complete case-study material used during the course.

The training is delivered live via Microsoft Teams webinars and requires no software installation for participants. Each session combines structured instructor-led explanations with practical demonstrations. Participants may also submit questions by email and receive individual responses by email or, where useful, by phone.

The course fee of €449 includes the full 16-hour webinar programme, the training materials, and a complimentary 30-day or 30-run licence to the cloud-based AuditAlpha™ stock analysis engine. The licence will be activated once the platform goes live, currently planned for Q1 2027.