Evaluating Business Quality & forming an investment thesis

Analysis of businesses, sectors, themes, macroeconomic views and the like. Business analysis is the first step in any form of investing (equity, debt, private market), everything else builds off this step. 

The macroeconomic scenario sets the context/environment in which one needs to view these businesses. The same business can vary in quality based on where we are in the macroeconomic cycle. In investing context is everything. Unless this is tuned in, one wastes times debating about things like Value Vs Growth without getting to the crux of what they mean in the current context.

Putting these together and forming a coherent investment thesis is both an art and a science. We focus on the science part in this section.