The lesson library

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4 lessons published · more added regularly

The covered call, from the beginning

Somebody will pay you today for the right to buy your stock in the future

That is the whole covered call. You get paid up front, and in return you agree to sell your stock at a set price in the near future. Most explanations stop at the money part. Here is the other half.

Free 8 min read

A company evaluation in 90 seconds

Two famous companies. The same share price. Completely different stories.

One morning in late July, Apple and Alphabet traded twelve cents apart. Run through the evaluator, they came back telling two completely different stories. What causes that, and how do you use it?

Free 8 min read

Reading a company

The difference between undervalued and just plain cheap

A stock that has fallen 60% is cheaper than it was. That tells you nothing about whether it is worth owning.

Free 8 min read

Reading a company

How to read a balance sheet in ten minutes

You do not need an accounting degree. You need four numbers and one question.

Free 9 min read

More lessons are coming.

These are drawn from The Investor’s Journey, a collection of 336 short lessons on how the market works and why people make the decisions they do. A selection stays free here. The full set comes with membership, along with the weekly research walkthroughs and the tools.

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