Investkaar by Furqan Punjani – Review

Furqaan Punjani is an analyst and investor with over 15 years of experience in the capital markets. Over the years, he has worked in different capacities at multiple brokerage houses, including, Topline Securities, BMA, Summit Capital, and Alfalah CLSA.

He also runs a website by the name InvestKaar.

He is one of the very few analysts who have successfully connected with the younger generation in Pakistan. You may know him from his TikTok videos or from his YouTube channel, both of which contain loads of information on how to approach investing in general and PSX in particular.

His regular YouTube Shorts provide basic knowledge of the markets in a straightforward manner, with the right amount of comedic element thrown in. But those looking for more in-depth knowledge will prefer his YouTube Videos. If you head over to the Playlists on his YouTube channel, you will find a collection of video series that contain immensely helpful material.

Free Stock Market Course

His most important work on this channel is the Free Stock Market Course. This is a great starting point for people new to the stock market. It consists of over 20 videos that explain multiple concepts not only in detail, but also in a manner that an average person can understand.

As an example, take a look at his video explaining the Price to Earnings ratio.

Many people in the stock market love working in stocks that are priced around the Rs. 20 mark. The reason: they’re cheap and you can get a higher quantity with a lower investment. Furqan explains why the share price itself doesn’t say anything about how cheap or expensive the stock is. Instead, you’re supposed to look at the PE ratio to see why a stock priced at Rs. 2400 might be cheap while another stock priced at Rs. 30 might be expensive. 

This acts as a small introduction to valuation and Furqan explains three ways of using and looking at PE ratios. In my opinion, this video, and the other ones in the series, provides a lot of valuable information that is hard to find elsewhere. 

Should I take the free course if I don’t have a financial background?

If you do not have a financial background, you should definitely do this course. Do not think of it as low value just because it is free. Yes, Furqan also sells a premium course, and we will come to that later, but this course is easily the best free introduction to the stock exchange that you can have. 

A lot of financial vloggers will not go into the details when it comes to the stock market. Furqan does. And he does that in an easy-to-understand way, which separates him from all the other YouTube channels publishing PSX content.

Premium Course

Furqan also offers a premium video course: a collection of videos that explain how each sector works.

Let’s go over each chapter in his course one by one.

Chapter 1: Investing basics with examples and testing

Chapter 2: Themes and Sectors

The good thing about Furqan’s course is that he goes over each sector one by one. This understanding of each sector helps investors rotate their investments from one sector to the other. If you like to work in cyclical sectors like autos, cement, steel etc., then this chapter will be of particular interest to you.

Chapter 3: Understanding the export theme in PSX

Many investors over the last couple of years have looked for companies that earn in dollars. This chapter addresses those investors.

Chapter 4: Understanding the defensive theme in PSX

Chapter 5: Valuations

Chapter 6: Understanding Research Reports

Research reports contain a lot of information that investors should care about. Furqan explains in this chapter how you can read those reports and what to look for in a research report.

Chapter 7: Miscellaneous

To sum up, the course contains valuable info that you won’t find elsewhere. The fact that he takes you sector by sector on your investment journey is worth it and is something that is not covered by many other PSX courses.

Community

Furqan’s community only allows a handful of people in and is focused on looking at companies on a deeper level. They do not focus on buy and sell calls and instead analyse companies by looking at their books, business, and future growth.

The community is not for beginners and you’ll need some stock market knowledge to become a useful part of this community. Thankfully, the free course on his YouTube channel gives you all the knowledge you’ll need to make good use of the community.

You can find out more about the community on this page.

Here is what you can expect to gain from the community:

Stock/Sector Ideas (One per month)

Every month, the community focuses on a stock or sector idea. Most recently, it covered FFC and its cash flows. In the previous months, they have looked at the cement sector, ILP, and PABC. 

The purpose of this focus on one sector or company is not to give a buy or sell call on the company. Rather, the analysis helps you see the latest developments in the right context. It helps you make an informed decision about your portfolio’s exposure to that company or sector.

Short Courses

The community also gives you access to short courses that will help you increase your knowledge.

He divides the broader market into three sectors, namely aggressive sectors, defensive sectors, and export sectors. For example, the textile sector and technology sector are both focused on exports. Yet they are very different. What exactly makes them different? That’s what Furqan explains in his short course.

Even though he refrains from satisfying the usual crowd that is just looking for buy/sell tips, he does touch on the topic of when to buy and when to sell.

Monthly Ask Me Anything (AMA)

Once a month, Furqan collects questions from community members and answers them in detail. These questions can be related to anything about the markets, except trading tips, buy/sell calls, and financial advice.

For example, you could ask his opinion on a mutual fund you just discovered and found attractive or about the fundamentals of a company that you just studied.

Model Portfolio

Furqan also updates his model portfolio once a month and explains his reasoning behind any new allocation or divestment. He also explains what events or expected events prompted him to make the adjustments.

Slack Discussion Group

Slack is where the community resides. It is an app, similar to WhatsApp and Discord. You can chat with fellow community members and share ideas. You are given access to this from the second month onwards.

Conclusion

There is no doubt that investing your time and money into Furqan’s courses is worth it. It may take some time for investors to adjust their portfolios and eliminate past mistakes after taking this course. But just like those quality companies that pay dividends, Furqan’s course brings value, whether you realize that value in terms of profits sooner or later is just a matter of time.