This is a rigorous course on valuing securities, primarily equities, targeted at students interested in careers involving the analysis of financial statements. We will discuss how managerial discretion and accounting rules influence financial statements and how to analyze financial information to reveal a firm's true performance accurately. We will discuss the mechanics of forecasting and how to become adept at it. We will discuss the intricacies of different valuation models and understand the nuances that link them. Learning will be through lectures, case analyses, in-class exercises, and homework assignments. Almost all classes will involve an Excel-based activity, case discussion, and real-time data. At the end of the course, students can expect to gain significant expertise in all facets of valuation.