THE CERTIFIED SECURITIES ANALYST (CSA)^TM CURRICULUM

The mission of CSA Institute is to build a global learning institution for hands-on practical investment research through self-study, training, examination, and mentoring. Moving away from Modern Portfolio Theory and academic financial shenanigans that has been proven irrelevant in the real world, we focus on value investing as taught by Benjamin Graham and Warren Buffett.

To fulfill our mission to bring true financial wisdom to those in need, we do not require a college degree in order to earn the CSA designation. However, due to the complexity of accounting footnotes and industry investigative work, candidates without a college degree may be required to spend more years of vigorous training within the program. We do require three years of practical experience in the fields of investment management and research in order to be finally awarded the CSA charter. Candidates can pass the exams first and gain the requisite experience later on.

We conduct proctored CSA exams via the web and in person. Every year, every candidate must submit (a) one full length research report about their single best investment idea for the year, and (b) one research paper based on a securities analysis topics designated by CSA Institute. The Candidates will then present their research in person or via internet conference, and defend their paper under the intense scrutiny of qualified examiners about all the details of securities analysis including accounting footnotes. Any question about any aspect of practical investment research can be asked and the candidates must provide an immediate answer based on their self-study. A pass or fail grade will be determined by the average scores submitted by the independent examiners.

Professional integrity and ethics are top priorities at CSA Institute. We reserve the right to terminate the candidacy of any individual whose behavior violates the CSA Code of Ethics.

EXAM I: BUSINESS VALUATION
1. Comprehensive Exam
2. Research Paper on a Designated Topic
3. Brief Summary Writeups of Three Ideas Worth Digging Into

Key Areas of Exam: Fundamentals of Financial Accounting, Research Report Writing, Public Speaking, Probability Theory, Mental Math, Speed Reading, Time Management, Research File Management

The Intelligent Investor: The Definitive Book On Value Investing
Revised Edition (Paperback) by Benjamin Graham, Jason Csaieig
(The best investment book ever according to Buffett.)
http://www.amazon.com/exec/obidos/ASIN/0060555661/csai-20

The Interpretation of Financial Statements (Hardcover)
by Benjamin O. Graham, Spencer B. Meredith
http://www.amazon.com/exec/obidos/ASIN/0887309135/csai-20

Security Analysis: The Classic 1940 Edition (2nd Ed. Hardcover)
by Benjamin Graham, David Dodd
(The textbook Buffett used at Columbia)
http://www.amazon.com/exec/obidos/ASIN/007141228X/csai-20

2008 SEC Guidelines; Rules and Regulations; As of December 2007 (Paperback)
by Gorham & Lamont Warren
http://www.amazon.com/exec/obidos/ASIN/B0015GVPN4/csai-20

Financial Accounting (Fourth Edition) with CD-Rom (Hardcover) by Libby
http://www.amazon.com/exec/obidos/ASIN/0072850531/csai-20

The Analysis and Use of Financial Statements by White
http://www.amazon.com/exec/obidos/ASIN/0471375942/csai-20

Common Stocks and Uncommon Profits and Other Writings (Paperback)
by Philip A. Fisher, Kenneth L. Fisher
http://www.amazon.com/exec/obidos/ASIN/0471445509/csai-20

Value Investing Made Easy: Benjamin Graham’s Classic Investment Strategy Explained
for Everyone (Paperback) by Janet Lowe
http://www.amazon.com/exec/obidos/ASIN/0070388644/csai-20

The New Buffettology, by Mary Buffett and David Clark
http://www.amazon.com/exec/obidos/ASIN/0684871742/csai-20

One Up On Wall Street : How To Use What You Already Know To Make Money In The Market
by Peter Lynch, John Rothchild
http://www.amazon.com/exec/obidos/ASIN/0743200403/csai-20

Beating the Street
by Peter Lynch, John Rothchild
http://www.amazon.com/exec/obidos/ASIN/0671891634/csai-20

How to Be Rich, by J. Paul Getty
http://www.amazon.com/exec/obidos/ASIN/0515087378/csai-20

Keys to Reading an Annual Report (Barron’s Business Keys) (Paperback)
by G. Thomas Friedlob, Ralph E. Welton, George Thomas Friedlob
http://www.amazon.com/exec/obidos/ASIN/0764113062/csai-20

EXAM II: CAPITAL MARKETS
1. Comprehensive Exam
2. Research Paper on a Designated Topic
3. In-depth Research Report on a Single Best Idea

Key Areas of Exam: Intermediate Accounting, Financial Statement Analysis,
Investigation Techniques, File Management, Management Interview Techniques

Value Investing : From Graham to Buffett and Beyond, by Bruce Greenwald
http://www.amazon.com/exec/obidos/ASIN/0471463396/csai-20

Wall Street On Sale (Hardcover) by Timothy Vick
http://www.amazon.com/exec/obidos/ASIN/0071342052/csai-20

Baruch: My Own Story
by Bernard M. Baruch (Benefactor of Bernard M. Baruch College, CUNY)
http://www.amazon.com/exec/obidos/ASIN/156849095X/csai-20

Benjamin Graham on Value Investing: Lessons from the Dean of Wall Street
by Janet Lowe
http://www.amazon.com/exec/obidos/ASIN/0140255346/csai-20

The Five Rules for Successful Stock Investing: Morningstar’s Guide to Building Wealth and Winning in the Market
by Pat Dorsey, Joe Mansueto
http://www.amazon.com/exec/obidos/ASIN/0471269654/csai-20

EXAM II: RESEARCH REPORT
1. Comprehensive Exam
2. Research Paper on a Designated Advanced Topic in Securities Analysis
3. In-depth Research Report on a Single Best Idea

Key Areas of Exam: Advanced Financial Accounting, Financial Statement Analysis II, Emotional Intelligence, Distress Investing

You Can Be a Stock Market Genius : Uncover the Secret Hiding Places of Stock Market Profits
by Joel Greenblatt
http://www.amazon.com/exec/obidos/ASIN/0684840073/csai-20

Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, Second Edition
by Howard M. Schilit
http://www.amazon.com/exec/obidos/ASIN/0071386262/csai-20

Buffett : The Making of an American Capitalist
by Roger Lowenstein
http://www.amazon.com/exec/obidos/ASIN/0385484917/csai-20

The Warren Buffett Way, Second Edition
by Robert G. Hagstrom
http://www.amazon.com/exec/obidos/ASIN/0471648116/csai-20

How to Pick Stocks Like Warren Buffett: Profiting from the Bargain Hunting Strategies of the World’s Greatest Value Investor
by Timothy Vick
http://www.amazon.com/exec/obidos/ASIN/0071357696/csai-20