Fundamental analysis studies economic activities, financial obligations and institutional context to build testable assumptions. It is not one formula and does not promise the next price move. Cyclepedia separates the discipline into three doors so that different questions do not become one vague narrative.
Companies and valuation
Corporate fundamental analysis starts with customers and revenue, reads statements, profit, cash and debt, and then reaches multiples, DCF and fair value. Choose this path when the question concerns business quality or the assumptions embedded in a valuation.
Macroeconomics and central banks
The Macroeconomics and monetary policy path connects inflation, growth, labour, money, fiscal policy and central-bank communication. It applies when the object is the environment affecting rates, currencies, credit and aggregate demand. Relationships are conditional: the same release can matter differently under different expectations and regimes.
Fixed income and credit
The Fixed income and credit path follows price, yield, curve, duration, convexity, spread and credit risk. It examines contracts with defined cash flows and priorities, without treating a bond as simply a less volatile share.
A shared method
All three paths begin with primary sources, define each metric, state period and unit, separate fact from interpretation, and look for alternative explanations. A Market index must likewise be read through its methodology and constituents, not treated as a neutral fact. Cross-links come after the individual object is understood. Higher rates, for example, can affect company valuation and bond prices, but the channel and magnitude depend on duration, debt, expectations and scenario.
This section is educational and does not provide financial signals or recommendations.
Sources
- U.S. Securities and Exchange Commission — Beginners' Guide to Financial Statements — Introduction to company reports.
- Bank for International Settlements — About central bank statistics — Institutional context for monetary and financial data.
- U.S. Securities and Exchange Commission — Bonds — Official introduction to bonds.