Meet Tianyi (David) Li, a Rutgers University–New Brunswick Honors College student developing a transparent, long-term investment process.
Finance · BAIT · philosophy · musicLearn continuously
and invest with accountability
01Introduction
Why this research is published
Explore how stocks are researched, businesses are valued and portfolio decisions are evaluated.
Modern Fundamental Analyst gives you access to published research, monthly holdings and performance. You can examine this public record over time.
The goal is to help you understand businesses, question assumptions and make independent investment decisions.
02What is a modern fundamental analyst?
Traditional fundamentals for the coming technological waves
Start with the business: its operations, competitive position, financial statements, capital allocation, opportunities and risks.
Accounting connects business activity to valuation. Integrated three-statement models link the income statement, balance sheet and cash flow statement. Discounted cash flow (DCF) models estimate the intrinsic value of stocks.
Consider how AI and other disruptive technologies affect each business. Traditional fundamental analysis remains essential in a changing technological environment.
03Investment philosophy
Focus the portfolio and value businesses long-term
The portfolio uses focus investing: a limited number of well-understood positions lets the strongest ideas contribute meaningfully to results.
The research uses long-term value investing. It compares business forecasts and estimated intrinsic value with market prices. A position can remain in the portfolio while the business develops as expected and the thesis remains valid.
AI and other disruptive technologies can create opportunities. A strong trend alone does not make a stock a good investment; business quality, valuation and risk still matter.
04Transparency and accountability
Making every investment decision open to review
Review the full portfolio and performance record, disclosed monthly, alongside published investment theses.
Published research currently covers selected companies. A detailed thesis or public financial model is not yet available for every holding.
The record includes mistakes, thesis changes and periods of underperformance. Use it to evaluate the reasoning and results, rather than expect a flawless history.
05Research and publishing
Turning investment ideas into testable theses
Each investment memo turns an idea into a structured argument. It aims to explain the business, opportunity, evidence, valuation, risks and conditions that would change the thesis.
Where appropriate, integrated three-statement models and DCF valuations connect operating assumptions with financial results and intrinsic value.
Published theses record the reasoning before the outcome is known. You can examine the assumptions, challenge the conclusions and evaluate new evidence independently.
06Background
Growing through curiosity, empathy, and continuous learning
Tianyi (David) Li studies at Rutgers University–New Brunswick Honors College. His planned double major is finance and Business Analytics and Information Technology, with a possible minor in philosophy or music.
The research approach reflects a “learn-it-all” mindset: ask better questions, listen with empathy, accept feedback and keep building knowledge and skills.
When evidence challenges a view, revisit the thesis. Consistency should not come at the expense of learning.
Closing
Learn openly, think independently, improve continuously
Use this record to explore the reasoning behind investment decisions and compare it with the results.
Question the assumptions, consider other perspectives and revise conclusions when the evidence changes.
Monthly disclosures, published theses and transparent valuation methods help you develop an independent investment process.
For detailed legal and methodological information, see the Disclaimer and Performance pages.