📘 The Raw Basics of Fundamental Analysis | Macro Trading Course (Episode 3)

Welcome to Episode 3 of our long-form macro fundamentals series — a 100-part educational journey designed to take you from beginner to confident, value-driven macro trader. In this deep dive, we strip away the jargon and demystify one of the most misunderstood skills in markets: fundamental analysis.

If you’re new to trading, economics, policy, or just trying to make sense of asset prices, this episode lays the foundation you must understand before moving into more advanced macro concepts.

🧠 What You’ll Learn in This Episode

In “The Raw Basics of Fundamentals,” we uncover:

✔️ What fundamental analysis actually is (and isn’t)

Most traders believe fundamentals are complicated or reserved for economists. The truth? You use fundamental reasoning every day without noticing. We show you how to transfer this natural skill into markets.

✔️ The ONE question behind all fundamental analysis

Every asset — stocks, bonds, commodities, currencies — comes down to answering:
“What is this thing really worth?”
We explain how price vs. value works and why markets often disconnect.

✔️ Why markets can stay irrational short-term

You’ll learn the difference between:

• Structural value → slow-moving, durable
• Market price → emotional, reactive, noisy
  …and why this disconnect creates opportunity.

✔️ How fundamentals apply to different asset classes

We break down the unique drivers behind:

• Bonds (inflation, yields, rate expectations)
• Stocks (earnings, growth, policy, economic cycles)
• Commodities (supply, weather, geopolitics)
• Currencies (FX) → the relative analysis game
  You’ll see how value is assessed differently depending on the asset.

✔️ The “Stream & Hill” Analogy for Fundamental Bias

This powerful visual helps you understand:

• How long-term value sets the slope of the hill
• How price follows the path of least resistance
• How news and sentiment act as short-term “rocks in the stream”
• How to tell noise from a real change in fundamentals

✔️ How to build a fundamental bias

Not a prediction — but a directional view of where value is likely flowing over months or quarters.

🎓 Why This Episode Matters

Before you can interpret central bank policy, inflation reports, bond markets, yield curves, or currency flows, you need to build a rock-solid understanding of value.

This episode gives you the framework to:

• Stay grounded when markets move irrationally
• Separate noise from structural change
• Build conviction in your trades
• Think like a macro analyst, not a chart-chaser

If you’ve ever felt overwhelmed by macro data, this session will simplify everything.

🏛️ Who This Course Is For

This macro fundamentals series is perfect for:

• Beginner traders
• Macro/FX students
• Investors wanting deeper insight
• Anyone seeking to understand markets from first principles
• Crypto or equity traders looking to incorporate macro drivers

No jargon. No assumptions. Just clean, intuitive learning.

📺 Chapters & Topics Covered

• What fundamental analysis really means
• Price vs. intrinsic value
• Underpriced vs. overpriced assets
• Understanding market friction
• Fundamentals of bonds, stocks, commodities, and FX
• How to read economic conditions without overthinking
• How to form a long-term bias
• A complete analogy for understanding price behavior

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