LEARNING PATH
MARKETS & FINANCE
Read prices, financial statements, macro data, and conditional valuation scenarios.
2026-10-04textbook
MARKETS & FINANCE · Business and financial reasoning
AI investment: follow the constraint all the way to the shareholder
Connect HBM, NAND, power and optics to pricing, qualification, capital needs and valuation.
9 min↗
2026-10-04textbook
MARKETS & FINANCE · Business and financial reasoning
Financial statements: reconcile the business with the cash
Read actual AAOI and Bloom tables, calculate margins, and distinguish stocks from flows.
8 min↗
2026-10-04textbook
MARKETS & FINANCE · Business and financial reasoning
A dated price snapshot is not a valuation or a price history
Inspect SNDK, BE, AAOI and MU quotes with timestamps, then calculate drawdowns without inventing history.
8 min↗
2026-10-04textbook
MARKETS & FINANCE · Business and financial reasoning
Value stocks: normalize the cycle before trusting the multiple
Distinguish a cyclical bargain from a value trap using original earnings and reinvestment cases.
9 min↗
2026-10-04textbook
MARKETS & FINANCE · Business and financial reasoning
Macro: separate the policy rate, inflation data and AI capital spending
Use September 2026 Federal Reserve and August inflation releases, then test cash-flow sensitivity.
8 min↗
2026-10-04textbook
MARKETS & FINANCE · Business and financial reasoning
The next bottleneck: test BE and AAOI as conditional business cases
Compare power availability and optical qualification, then expose the growth already required by a valuation.
9 min↗