The Desk Library

Explainers worth keeping

The reference shelf behind the daily briefing: how the machinery of markets and money actually works, in plain English.

The Economy

One committee in Washington sets a single interest rate — and it quietly reprices your savings account, your mortgage, and the stock market.

6 min read

Companies

Four numbers and one paragraph tell you most of what a quarterly report has to say — if you know where to look.

5 min read

Investing

Both let you buy the whole market in one purchase. The differences are mostly about plumbing — but the plumbing occasionally matters.

5 min read

The Economy

CPI is a monthly survey of a fictional shopping basket. Understanding what goes into it explains why it never matches your grocery bill.

5 min read

Markets

The seesaw at the center of global markets, explained with one $1,000 example.

4 min read

Markets

Exchange rates look chaotic day to day. Underneath, three forces do most of the work: interest rates, trade, and fear.

5 min read

The Economy

No indicator is a crystal ball, but a handful of data points have earned their reputation as early warnings.

6 min read

Business

Profitable companies go under every month. The gap between earning money and having money is the most underrated concept in business.

5 min read

Markets

The most-quoted number in finance is a weighted average with strong opinions built in. Knowing the weighting is knowing the index.

4 min read

Investing

Owning things that fail at different times reduces risk without reducing expected return. Almost nothing else in markets offers that trade.

5 min read