Value Investing

The aim of this course is to provide an insight into the approach, mindset and expected performance of value investors.


The course is aimed at those joining an asset management firm, those marketing to value investors or those investing or advising on fund selection.

Learning Outcomes

After completing this course, you will be able to:

  • Explain the philosophy of value investing, its history and key proponents
  • Differentiate between investment styles and also sub-styles of value investors
  • Understand the empirical evidence of value investing and the theoretical framework
  • Examine the reasons why companies become ‘cheap’ and how they may revert
  • Construct a value portfolio and consider how the decisions made will impact the risk and return profile across the cycle

Course Content

What is “Value Investing”?

  • Differentiating between value, growth, GARP & income investing
  • Empirical evidence for value investing

Understanding intrinsic value

  • Defining intrinsic value
  • Trading VS investing
  • Reconciling with the EMH

How do shares of companies become “cheap”?

  • Cyclical downturns
  • The corporate life cycle
  • Being ‘left behind’, ‘out of fashion’ or a ‘sin stock’
  • Scope for operational or governance improvement
  • ‘Hidden’ assets


Why and how do value stocks mean revert?
Practical Value Investing

  • What do difference valuation methods tell us?
  • Risks to value investments

The Value portfolio

  • Value indices and systematic value portfolios
  • Risk optimising a value portfolio
  • Thematic clustering
  • Styles of value investment
  • Sell signals
  • Asymmetry of long/ short value investing


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Why study with Alpha?

Innovation and creativity born from experience

We are thought leaders in instructional and learning journey design and holistic solution architects. We have extensive finance and investments experience combined with skills application to deliver performance improving results. We develop immersive learning environments that maximize time to productivity, support talent retention and added value to improving quality of hires.

Knowledge Exchange Evangelists

We are focused on mining the embedded organisational intellectual capital for the benefit of the next generation. We create and curate best in class practice gathered from our experience with the leading financial institutions. We design our programmes with the end in mind – what results are you trying to achieve with this intervention? What metrics will we set ourselves to achieve that?

Generation Proof

Quality and innovation, using current market and industry best practices, have made us a trusted partner in delivering dynamic and motivating training for the financial and capital markets. Our programmes are generation proof and responsive to evolving learner needs and styles. Our solutions use a multi-stakeholder engagement strategy that expands beyond relationships between the learner and learning provider. We create connections with managers, peers and the wider business to drive impactful return on investment..

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The team are so friendly and pleasant to work with, everyone is very professional and keen to help us. Building a relationship over the past couple of years helps us to feel like the Alpha team are even more able to understand our needs and provide more proactive solutions.
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