Boeing lost $448 million in the first half of 2026. Over the same six months its shareholders’ equity, the book value that belongs to the owners, rose from $5,454 million to $6,100 million. Both figures are in the same quarterly filing, and so is the reason equity went up anyway, which I took apart in the Boeing case.
This free course teaches that kind of reading, in five modules of five short lessons. It begins at the level of the pages that explain what a share is, then goes on to the part they skip, which is reading the company.
I have been investing since 2000 and teaching since 2010, and I built Bufetico to compute these figures across thousands of listed companies. Every lesson starts from a real company, with numbers from its own filings, and tells you what goes wrong when you calculate that figure for real, company after company. The decision comes last, in module five, after you have seen a line in a filing move for reasons the business had nothing to do with.
What a share gives you, and why its price moves when the business stands still.
How to read a company's financial statements, from the balance sheet to free cash flow, and why profit and cash disagree. Each lesson uses real filings.
Return on capital, growth, debt and margins, and when a ratio stops meaning anything.
How cash a company has not earned yet becomes a value today.
How your judgment becomes criteria you set yourself, and what a screener can and cannot answer for you.
Bufetico