Investing
Alpha, Beta, and Gamma: The Greeks of Investing
What it means to be long beta, where alpha might come from, and how a gamma squeeze can move a stock—even if you never trade options.
What Is the Efficient Market Hypothesis?
A good company is not always a good investment. How market prices absorb information, why beating them is difficult, and where the efficient market hypothesis falls short.
Passive Investing Is an Active Bet
The S&P 500 now behaves like a 45-stock portfolio. Whether passive money caused that is genuinely contested, but the position it leaves you holding is not in dispute, and nobody chose it.
A Field Guide to U.S. Treasury Securities
Bills, notes, bonds, TIPS, FRNs, I Bonds, EE Bonds. Same borrower, different terms. What each one actually is and how to tell them apart.
Bond Duration
Duration estimates how much a bond's price moves when interest rates do. This post shows how this is measured and what the impact can be.
What Are Bonds? A Beginner's Guide
A bond is a loan dressed up as an investment. What that means, some terminology worth knowing, and why bond prices move.