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How to Update an Investment Thesis When the Facts Change
Separate new evidence from price movements when revisiting a thesis.
An Equity Research Report Structure You Can Revisit
Follow a company argument from business evidence to valuation and risk.
The Time Value of Money in Plain English
Compare payments at different dates, with the assumptions made visible.
Diversification Without Slogans
Look beyond the number of holdings to the risks they share.
Building Blocks of a Valuation Debate
Trace a valuation range back to its metric, multiple and assumptions.
From Macro Data to Scenario Paths
Turn economic observations into conditional scenarios rather than predictions.
Option Pricing Without Black Boxes
Distinguish an option’s price, payoff and profit before opening a model.
Delta, Gamma, Vega, Theta, and Rho in Plain Risk Terms
Read five option sensitivities through their inputs, units and limitations.
Delta: Directional Exposure
Read the local slope of option value against underlying price.
Gamma: Changing Exposure
Understand why directional exposure changes as the underlying moves.
Vega: Sensitivity to Volatility
Translate volatility changes into a local option-value estimate.
Theta: Time Decay
Separate time passing from a promise of daily price decay.
Rho: Sensitivity to Interest Rates
Read interest-rate sensitivity without losing the units.
Research History: Tracking How Evidence Changes
Follow the evidence available at each stage of a changing view.
How to Think About Risk Before Return
Distinguish uncertainty, drawdown and liquidity before comparing returns.
How Interest Rates Move Valuation Expectations
Separate discounting, business effects and market expectations.
Cash Flow Quality: Profit You Can Trace
Connect reported profit to cash movements and their explanations.
Position Sizing Before Return Targets
Translate a hypothetical holding loss into its portfolio contribution.
Quality, Growth, and Value as Strategy Lenses
Use three investment labels to ask more precise company questions.
Loss Aversion and the Cost of Waiting
Separate current evidence from the desire to return to a purchase price.
From Source Notes to Research History
Make a research claim traceable to a specific source and date.
Inflation and Real Returns: What Your Money Can Buy
Separate growth in your balance from changes in what it can buy.
Fees and Compounding: Following the Deductions
Follow recurring charges through a transparent compounding example.
How Financial Statements Fit Together
Connect profit, cash and equity through one small business example.
Analyst Price Targets: Reading the Assumptions
Look behind a target average to its dates, methods and uncertainty.
Price Momentum: Measuring the Recent Move
See why different lookback windows can tell different price stories.
Portfolio Optimisation: What the Maths Can—and Cannot—Decide
Follow a minimum-variance calculation and test its dependence on assumptions.
Stocks, Bonds and Funds: What You Actually Own
Separate ownership, lending claims and exposure through a pooled fund.
Inside an ETF: Holdings, NAV and Market Price
Look through the fund to distinguish its net assets from its trading price.
Price Return and Total Return: Following the Dividends
Follow the price change and cash distribution without counting either twice.
Bonds: Connecting Price, Yield and Maturity
Trace promised bond payments and see how the discount rate changes their value.
Reading Economic Data: Levels, Growth and Base Effects
Separate an index level from its rate of change and its comparison base.
Company Debt: Reading Leverage and Interest Coverage
Connect debt and interest coverage with the obligations the ratios leave out.
Earnings per Share: Why the Share Count Matters
Explain why profit can grow while earnings per share fall.
Discounted Cash Flow: Following the Assumptions
Follow cash flows, terminal value and the bridge from enterprise to equity.
Currency Exposure: Two Moving Parts in Your Return
Combine an asset return with a clearly defined currency conversion.
Rebalancing: Understanding Portfolio Drift
See how changing prices alter weights and what restoring a starting mix entails.
Confirmation Bias: Testing the Case Against Your Thesis
Test competing explanations before turning a useful fact into a convenient story.
Backtests: Why Historical Results Can Mislead
Examine which information and constituents a historical test could really have used.
How to Research a Stock: A Step-by-Step Checklist
Turn a company question into a traceable checklist of evidence, assumptions and open questions.
How to Read an Earnings Release: Results, Expectations and Guidance
Separate reported growth, dated expectations and the assumptions behind guidance.
Using AI for Stock Research: How to Verify Claims and Sources
Check the document, the period and the calculation before accepting a convincing sentence.
How to Review a Stock Watchlist Without Starting Again
Compare dated evidence and keep unresolved questions visible across reviews.
Why Analyst Price Targets Disagree—and What Revisions Tell You
Distinguish changed opinions from changed coverage when reading analyst estimates.
When Fundamentals and Momentum Disagree
Investigate conflicting business and price evidence without inventing a trading rule.
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