Guides

How to use the tools well, and the reasoning behind them

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Investing guides

A tool is only as good as the reasoning behind the numbers you feed it. These guides cover the mechanics that portfolio apps usually hide: how cost basis really works, why your reported return is probably measuring the wrong thing, and how to build a valuation you can defend to yourself six months later.

Method How to track an investment portfolio properly Cost basis, FIFO, currency effects and why your broker's return number is usually wrong. Read the guide Performance Time-weighted vs money-weighted returns Two portfolios, same assets, different answers. Which number actually measures your skill. Read the guide Valuation How to value a stock with projected EPS and an exit multiple The whole model end to end, with a worked example you can reproduce in the calculator. Read the guide Discipline Margin of safety and sensitivity testing A valuation is a range, not a number. How to size the discount you demand. Read the guide Fundamentals Reading financial statements without drowning in them The dozen lines that actually matter across the income statement, balance sheet and cash flow. Read the guide Risk Drawdown, volatility and concentration explained What the risk numbers on your dashboard mean, and which of them should change your behaviour. Read the guide