On today’s episode, Clay brings back long-time guest, Brian Feroldi, to educate our listeners on how to analyze financial statements. Brian Feroldi is the founder of Long-Term Mindset, which creates educational content that can help anyone to learn how the stock market works. What you'll learn here: 00:00:00 - Intro 00:01:23 - Intro to Financial Statements 00:03:02 - An overview of the three financial statements 00:07:40 - Tangible vs intangible assets 00:13:04 - GAAP accounting 00:18:22 - Stock based compensation 00:26:30 - Understanding more than the numbers 00:37:04 - Valuation 00:40:26 - The value of optionality 00:43:28 - Red flags: income statement 00:46:01 - Red flags: balance sheet 00:49:12 - Red flags: cash flow statement 00:51:03 - Accounting irregularities 00:54:40 - David Gardner 00:58:38 - Timeless investing lessons 01:02:15 - Final hand-off Transcript & Guest Info: https://www.theinvestorspodcast.com/episodes/financial-statements-explained-simply-w-brian-feroldi/ 🤝 Join like-minded value investors this October in NYC by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 💎 Explore a new business weekly and decide if it deserves a spot in your portfolio. https://www.theinvestorspodcast.com/intrinsic-value-podcast/ ▶️ Related Episodes: - Financial Education w/ Brian Feroldi: https://youtu.be/JmmoOHMZPCY - The Evolution of Value Investing w/ Brian Feroldi: https://youtu.be/owEsv5KfN8I Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Visit our website: https://www.theinvestorspodcast.com/we-study-billionaires/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #FinancialStatements #Investing #BrianFeroldi #StockMarket #FinancialEducation