Research Methods That Actually Work in Real Markets
We don't teach theory disconnected from practice. Our approach comes from years of analyzing what separates successful financial research from guesswork—and honestly, there's a big difference.
Torben Kjeldgaard
Lead Research InstructorSpent 14 years analyzing Canadian equity markets before teaching. Started at a small Edmonton firm where mistakes meant actual losses, not just bad grades.
Teaching Philosophy Built on Experience
Torben came from a background where research had consequences. He worked through the 2008 crisis, the oil price collapse of 2014-2016, and the pandemic volatility of 2020. That perspective shapes everything he teaches.
His classes don't start with textbook definitions. They start with real companies, actual financial statements, and the kind of messy data you'll encounter in practice. Students learn to spot red flags in quarterly reports, understand what management language really means, and build models that hold up under scrutiny.
Fundamental Analysis
Breaking down balance sheets, cash flow statements, and income statements to find what actually matters for valuation.
Industry Research
Understanding competitive dynamics, market structures, and how sector trends affect individual companies.
Data Interpretation
Moving beyond surface numbers to understand what financial data reveals about business quality and sustainability.
Research Communication
Writing reports that decision-makers actually read and presenting findings in ways that drive action.
What students appreciate most is the direct feedback. Torben reviews every research report personally and doesn't hold back when analysis misses the mark. But he also explains why, showing exactly where reasoning went off track and how to improve next time.
Skills Develop Faster Than You'd Think
Most participants enter our program with basic finance knowledge and leave with research capabilities that would have taken years to develop on the job. The learning curve is steep because we focus on practical application from day one.
Weeks 1-4
Initial sessions focus on reading financial statements accurately and spotting common reporting tricks. Students analyze three companies in their first month.
Weeks 5-12
Research depth increases significantly. Participants build valuation models, assess management quality, and start developing their analytical voice.
Weeks 13-20
Advanced work includes sector comparisons, competitive analysis, and producing investment-grade research reports under tight deadlines.
By program end, many students have produced research portfolios that impress potential employers. Not because the work is perfect, but because it demonstrates real analytical thinking and clear communication.
Real Project Breakdowns
Canadian Energy Sector Analysis Project
In fall 2024, students tackled a comprehensive analysis of three mid-cap Canadian energy producers. The project required comparing business models, evaluating management strategies, and assessing which companies were positioned best for the energy transition.
- Students had to work with incomplete data and make reasonable assumptions—just like real analysts do
- The analysis covered operational efficiency, capital allocation history, and hedging strategies
- Each participant presented findings to the group and defended their conclusions against questioning
- Final reports averaged 25 pages with detailed financial models and risk assessments
The biggest challenge wasn't building models—it was deciding what information mattered most. Students who produced the strongest work learned to separate signal from noise and build clear narratives supported by data.
Student Perspective
I came in thinking I knew financial analysis because I'd taken university courses. The first assignment made it clear I didn't. Torben's feedback was tough but fair, and by month three, I was producing work I'm genuinely proud of. The practical focus made all the difference.
Next Program Begins September 2025
If you're serious about developing financial research skills that employers value, our methodology produces results. The program runs 20 weeks with evening sessions to accommodate working professionals.