Everything an investor needs to know.

The essential building blocks every investor needs to understand before anything else.

How markets function, how prices move, and how returns are generated over time.

The broader forces that shape markets, economies, and investment outcomes.

Every listed company publishes three core financial statements. Together they tell the full story of a company's financial health, if you know how to read them.

The same income statement looks completely different depending on the size of the company. Margins strip away size and let you compare any two companies, or a company against its own past, on equal footing.

Margins tell you how profitable a company is. Ratios go one step further and tell you whether the stock price reflects that profitability fairly, generously, or not at all.

Ratios fall into four categories, each answering a different question about a company. Knowing which category a ratio belongs to tells you what it is actually measuring, and what it cannot tell you.

Beyond the four foundational ratio categories, there are three more that experienced investors use to assess how efficiently a company deploys its capital, uses its assets, and rewards its shareholders.

Revenue, expenses, and profit: how a company earns money.

Assets, liabilities, and equity: what a company owns and owes.

Where cash comes from and where it goes across three activities.