1. Did Warren Buffet really make his many billions of dollars based on his ability to apply standard securities analysis techniques to equities as they were presented by Graham and Dodd?

2. There are two main difficulties:

1- How do we come up with the Cashflow? Do we use the accounting records? Free cash flow? What expenses do we included? Then on top of that, what method do you use to project the future values of these cash flows.

2 - Discount rate. How do you calculate it? CAPM, WACC, etc? .

A third, but related to the previous two, difficulty is the method of calculating the growth rate.

3. Fundamental Analysis versus Technical Analysis

How does the essential rationale for fundamental analysis for equities differ from the rational for technical analysis?

4. Fundamental Analysis

Under what circumstances is fundamental analysis of equities likely to produce higher than normal returns?