Think clearly.
Invest independently.From first principles up.
Field guides to how markets work, and research on the prices and assumptions that matter now.
First Principles
One thing at a time.
Successful investment distilled into its parts, and then reassembled. Practical field guides to money, markets and risk — from first principles to live markets.
Beyond Institutional Thinking
Reasoning you can disagree with.
Independent research for investors who want to understand what the market is assuming — and what would make it change its mind.
Beyond Institutional Thinking, Issue One.Free, in full.
Read Issue One free, in full. No email required. If you like it, leave your email and Issue Two comes to you on publication, along with the pieces between issues.
One subscription, both strands. One argues about a company or a bond; the other explains the market it belongs to. £10 a month when subscriptions open. Cancel any time.