Author's Greetings
Character Introduction / How to Use This Book

Part 2 How to Reduce Losses

3.
How to avoid bad news: Avoid the rain and let's see!
Investors panic over sudden capital increase
[Check Point] Capital Erosion and Potatoes
The secret to predicting growth
Can you see it now?
You see as much as you know, and you earn as much as you see.
Protect your wealth by reading just one line of the thank you note!
[Check Point] Composition of Audit Opinion
Misleading articles and misconceptions about audit opinions
Never lose money!

Part 3: How to Make Money

Don't invest in good companies!
There is only one principle in investing!
Methods of Measuring Stock Value
The law of relative value is problematic
[Check Point] The Meaning and Use of PER
The principle of the law of absolute value is not difficult.
[Check Point] Present Value of Perpetual Cash Flows
Why I Don't Prefer DCF
Are analysts' target prices truly the result of their analysis?
2 trillion or 200 billion? Expert opinions differ by a factor of 10.
The point we arrived at after 10 years of thinking
[Case Study] Calculating Equity and ROE in HTS
The best way to calculate fair value
[Check Point] Depreciation
How to predict ROE?
How to Determine the Discount Rate: Theoretical Methods
[Check Point] CAPM
A realistic alternative for stock investment
How long will the company's excess profits last?
How much should I buy it for to get it cheap?
[Case Study] Calculating Target Stock Prices Using S-RIM

A live lecture by a securities industry daily instructor that you have to wait in line to hear, now in cartoon form!

The author, known as one of the 'Three Greatest Lecturers in the Securities Industry' and consistently loved for his lectures at dozens of securities firms, has perfectly translated his lectures on financial statements into a comic book.
As it is written in the form of a comic book, even novice stock investors can easily approach it, and the vivid and entertaining storytelling will have you reading through to the last page in one sitting.


How to Read Financial Statements: Investors Need to Know

Do accountants know how to properly read financial statements? In fact, accountants' job is to conduct the final review of financial statements prepared by companies.
The author says they are simply checking whether the financial statements are well prepared.

The knowledge required to create financial statements and the knowledge required to read them are completely different.
Building a car and driving it are two completely different things.
Just as you can drive well even if you're not good at welding, you can read financial statements even if you're not good at creating them.
What investors need to know is not 'how to make' but 'how to read'.


This book, based on the author's investment experience and extensive financial knowledge, is a comic book that explains in an easy-to-understand way how to read financial statements, focusing solely on profit and ensuring investment that will not fail, "for investors."
There are no difficult accounting terms or complex calculations, making it easier for beginners to access.

A rich composition with nothing missing

If you think that because it is a cartoon, there will be parts that were in the original work omitted or shortened, you are mistaken.
It contains all the content covered in the original work, “Never Invest in Stocks Without Understanding Financial Statements,” in a way that is consistent with the comics.
The lecture-style comic book explains the original story in more detail, and it includes "Checkpoints" containing essential financial statement knowledge for stock investors, as well as "Case Studies" for practical practice using real-life examples, ensuring that the book is fully structured.