Early in my career, while studying for my CMT designation, I
taught technical analysis to many of the top brokers at the major brokerage
firm where I was employed. A colleague who was part of the
CFA program taught fundamental analysis. I once spent a day monitoring
his crash course on fundamental analysis. His explanation of using
financial ratios to assess the value of companies made sense. Despite my early concerns about fundamental analysis, formed from past
unproductive experiences and my preconceived beliefs regarding the
efficiencies of the markets’ discounting mechanism, I was intrigued.