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Guide

Articles that explain the market in four chapters, easy to hard; read them start to finish like a curriculum.

Start from the Top

What Is a Stock?49 Articles · ~233 Min Read

All

Macro

7 Articles

Rates, inflation, jobs and the Fed — the forces that steer the market from outside it.

Intermediate5 Articles
01Rates, Bonds and the Yield Curve3 Min ReadThe number that moves the stock market most isn't set in the stock market — it's set in bonds.02Inflation Data: CPI, Core and PCE4 Min ReadWhy a number published once a month reprices every asset there is.03The Jobs Data: Payrolls, Unemployment and JOLTS5 Min ReadThe single number released on the first Friday of the month is the report card for one of the Fed's two mandates — and sometimes good news is bad news.04Hawks and Doves: Reading the Fed's Language3 Min ReadThe rate decision itself is rarely the surprise; the surprise lives in the sentences around it.05Investing in Dollars and Currency Risk4 Min ReadAn investor buying US stocks from Türkiye is actually making two bets at once.
Advanced2 Articles
06The Yield Curve and Its Inversion5 Min ReadShort rates above long rates — the market's oldest recession signal, and why it doesn't fire immediately.07What Is Sector Rotation?5 Min ReadMoney changing sectors without leaving the market — and how that tracks the economic cycle.