Momentu / Research journal
Read the latest research notes, check their sources and take one practical next step. Longer reference guides stay available by subject below.
Latest publications
Publication dates are shown as recorded. Examples are educational unless explicitly identified as sourced market observations.
A higher price target is an analyst's revised view, not automatically new company guidance or a price the market must reach. Trace the change to its assumptions and original issuer disclosures.
Read the note →An extended-hours trade is a real observation, not a commitment about the next regular-session open. Check the trade time, venue, volume and spread before interpreting the move.
Read the note →Yield to maturity combines the bond's price, scheduled payments and maturity value. It is a calculation, not a promise that the issuer will pay or that an early sale will produce the quoted return.
Read the note →New here?
These two guides give you a starting point. Use the subject paths below when a specific question comes up.
A practical way to check sources, dates, numbers and incentives before making an investment decision. Includes a six-point research checklist.
Read the guide →02 / START HEREA practical first-pass review covering the business, evidence, risks and next step. Twenty minutes to filter an idea, not to rush into buying.
Read the guide →01 / Check the evidence
Trace claims to their source. Check dates, incentives and what the headline leaves out.
Start here: how to check investment information
Explore this subject →A higher price target is an analyst's revised view, not automatically new company guidance or a price the market must reach. Trace the change to its assumptions and original issuer disclosures.
Read the guide →Read the transaction code, both tables and the footnotes before calling an insider filing an open-market purchase.
Read the guide →Use the item number, event date and exhibits to understand a current report, then identify what the filing still leaves unanswered.
Read the guide →A practical way to check sources, dates, numbers and incentives before making an investment decision. Includes a six-point research checklist.
Read the guide →Build a traceable evidence trail from a company claim to the filing, definition and reporting period that support it.
Read the guide →Check reporting dates, later events and denominator changes before letting an old figure drive a new conclusion.
Read the guide →Map who benefits from a research claim, then test the evidence without assuming either honesty or deception.
Read the guide →Separate a forecast comparison from business performance by reconciling revenue, earnings adjustments and share counts.
Read the guide →Understand what consensus measures, calculate forecast dispersion and avoid mistaking an average estimate for evidence of an outcome.
Read the guide →Turn a promotional announcement into a structured set of facts, conditions and questions using a contract example.
Read the guide →Trace popular investment claims to their origins and distinguish independent corroboration from repeated promotion.
Read the guide →Resolve differences in periods, definitions and assumptions before deciding whether research sources genuinely disagree.
Read the guide →02 / Understand the business
Work through revenue, cash, debt and valuation without confusing a good story with a complete analysis.
Start here: comparing valuation multiples consistently
Explore this subject →Separate a buyback authorization from completed repurchases, then compare shares outstanding and cash used before judging the effect.
Read the guide →Break revenue growth into repeatability, collection and customer economics instead of relying on the headline percentage.
Read the guide →Reconcile earnings to operating cash, then separate timing differences, noncash costs and investment spending.
Read the guide →Build a margin bridge that separates price, volume, mix and cost changes, with a two-product worked example.
Read the guide →Build a dated liquidity schedule, distinguish accessible cash from conditional funding and test refinancing assumptions.
Read the guide →Separate ownership dilution, reported EPS and stock-compensation economics using a share issuance and buyback example.
Read the guide →Calculate operating working-capital needs and the cash conversion cycle, then distinguish healthy expansion from collection or inventory problems.
Read the guide →Match price and earnings definitions, distinguish enterprise from equity value and test how accounting differences change apparent cheapness.
Read the guide →Reconcile segment revenue and profit to group totals, separate growth from mix and inspect costs that sit outside segment results.
Read the guide →03 / Read the market
Separate momentum, activity and volatility. Learn what a market observation can and cannot establish.
Start here: understanding relative and absolute momentum
Explore this subject →An extended-hours trade is a real observation, not a commitment about the next regular-session open. Check the trade time, venue, volume and spread before interpreting the move.
Read the guide →Yield to maturity combines the bond's price, scheduled payments and maturity value. It is a calculation, not a promise that the issuer will pay or that an early sale will produce the quoted return.
Read the guide →US retail sales are reported in dollars and are not adjusted for price changes. A higher sales figure alone cannot establish that the quantity purchased increased.
Read the guide →A GDP revision changes the estimate for an earlier period; it is not fresh growth on the release date. Check the quarter, vintage, measure and component changes before interpreting it.
Read the guide →An inverted Treasury spread is a historically useful recession-risk signal, not a guarantee or a date. Name the maturities, data definition and observation window before interpreting it.
Read the guide →The unemployment rate divides unemployed people by the labor force. It can rise even while the number of employed people rises, so check both counts and participation before explaining the move.
Read the guide →Exchange trading mostly transfers existing ETF shares between investors. Fund net issuance requires creations minus redemptions; neither headline volume nor a flow estimate proves each holding was bought today.
Read the guide →Dividend yield is annualized income divided by share price. A falling price can lift the displayed percentage without a larger payment or a better investment return.
Read the guide →A Form 13F shows certain reportable holdings at a past quarter-end, not a live trade tape. Compare the report date, share counts and coverage before calling a position a new buy.
Read the guide →A lock-up expiry removes one contractual barrier for specified holders; it does not prove a sale or predict the share price. Read the IPO prospectus before counting potential supply.
Read the guide →A lower inflation rate usually means the measured basket became more expensive more slowly, not that its price level declined. Compare the index levels, periods and adjustments before interpreting a headline.
Read the guide →Market cap multiplies a reference price by circulating supply. A change in that product is not a ledger of cash entering a token; check both inputs and the provider's timing.
Read the guide →A Treasury-yield headline is not a direct percentage return for a bond fund. Use the fund's duration as a conditional estimate, then check which risks and dates it leaves out.
Read the guide →The CFTC's weekly positions report is a dated category snapshot, not a live record of trades or a price forecast. Check the report type, contract and as-of date first.
Read the guide →Contango describes prices across delivery dates, not a guaranteed rise in the cash market. Compare contract terms, carrying costs and the return of a rolling position separately.
Read the guide →The VIX reflects option-implied expectations for S&P 500 volatility over roughly 30 days. It does not specify tomorrow's direction or guarantee a crash.
Read the guide →Open interest counts outstanding option contracts, not buyers' convictions. Separate trades, end-of-day positions and the bid-ask market before interpreting a spike.
Read the guide →A Form 13F shows certain reportable holdings at quarter-end, not today's trades or a manager's complete portfolio. Read its two dates and coverage before interpreting it.
Read the guide →A shelf filing can prepare for a future offering without proving that shares were issued. Follow the filing trail and distinguish capacity, terms and completed sales.
Read the guide →A halt can follow pending news, a volatility pause or another market concern. Identify the official reason before interpreting the frozen quote.
Read the guide →A premium compares an ETF's market price with its net asset value, but it is only one part of the price you can actually pay or receive.
Read the guide →A daily short-sale volume figure counts trades, not the short positions still open at a later reporting date. Here is how to separate the two.
Read the guide →Work through a reverse split using share count and price together, then check the notice, fractional shares and what the corporate action cannot fix.
Read the guide →Before interpreting a red price move as a new warning, separate the dividend entitlement from the market move. A worked hypothetical example and a short evidence checklist.
Read the guide →Separate relative rankings from absolute returns, choose consistent comparison rules, and see why first place can still mean a loss.
Read the guide →Read daily moves within a defined observation window, separate recovery from reversal, and avoid choosing a chart to fit a story.
Read the guide →Build a fair volume comparison, distinguish activity from intent, and examine unusual sessions without inventing a buyer story.
Read the guide →Understand what breadth counts, reconcile it with index weights, and recognize when participation data cannot support a market forecast.
Read the guide →Separate shared sector movement from company-specific events using peer comparisons, weights, and an explicit attribution limit.
Read the guide →Understand earnings gaps, separate the overnight repricing from the next session, and calculate exposure without assuming an exit price.
Read the guide →Separate the size of fluctuations from net return and use simple path comparisons to understand what volatility leaves out.
Read the guide →Understand the tradeoff between price control and execution, including partial fills, overnight instructions, and confirmation timing.
Read the guide →04 / Put risk first
Understand concentration, drawdowns, liquidity and portfolio exposures before thinking about upside.
Start here: understanding portfolio concentration
Explore this subject →Look through funds and separate account-line counts from actual issuer, sector, and household exposure.
Read the guide →Translate position weights and hypothetical price declines into portfolio losses, while keeping planned exits separate from actual risk.
Read the guide →Calculate recovery from a smaller base, distinguish account deposits from investment gains, and avoid turning breakeven into a forecast.
Read the guide →Measure the spread, distinguish a displayed valuation from executable depth, and stress an exit without assuming current quotes will persist.
Read the guide →Test diversification under changing relationships, distinguish correlation from loss magnitude, and build joint scenarios without false precision.
Read the guide →Calculate the combined asset and currency return, distinguish trading currency from exposure, and connect measurement to future spending.
Read the guide →Calculate allocation drift and compare selling with new contributions, while weighing costs, tax consequences, and policy discipline.
Read the guide →Separate measurable scenarios from unsupported probability estimates and build a decision process around consequences, evidence, and flexibility.
Read the guide →05 / Build your process
Practical watchlists, research notes and review routines that leave room for waiting or staying out.
Start here: a structured first review of an investment idea
Explore this subject →A practical first-pass review covering the business, evidence, risks and next step. Twenty minutes to filter an idea, not to rush into buying.
Read the guide →Turn a collection of tickers into a research queue with entry rules, evidence gaps, review triggers, and a practical worked example.
Read the guide →Build an evidence gate before considering an investment decision, covering claims, missing information, alternatives, and decision boundaries.
Read the guide →Translate an investment thesis into observable claims, distinguish contradictions from missing evidence, and preserve a clear revision history.
Read the guide →Create a decision journal with dated evidence, alternatives, uncertainty, and outcome reviews that do not rewrite the original rationale.
Read the guide →Separate regret about a missed rally from a fresh research question using a pause record, a counterfactual, and an evidence checklist.
Read the guide →Build an earnings research packet with comparable metrics, prior questions, source order, and a worked example of a misleading comparison.
Read the guide →Plan a weekly research cycle around evidence changes, one deep question, housekeeping, and a handoff note rather than constant market checking.
Read the guide →Use a clear handoff from a detected pattern to data checks, hypothesis review, and a separate implementation decision.
Read the guide →06 / Question the numbers
Make sense of price adjustments, delays, rankings and backtests before treating an output as evidence.
Start here: comparing market data feeds and definitions
Explore this subject →Understand price adjustments through split and dividend examples, consistent field choices, and a reusable data-inspection checklist.
Read the guide →Distinguish event time, receipt time, display time, and stale data with a worked timing example and a practical latency checklist.
Read the guide →See how missing historical companies alter a sample, then build an inclusion ledger with explicit entry, exit, and missing-data rules.
Read the guide →Build a timing ledger that distinguishes reporting periods, publication, ingestion, and revisions, with a worked historical-join example.
Read the guide →Build a transparent cost ledger for a hypothetical backtest, including turnover, spreads, fees, slippage, and sensitivity analysis.
Read the guide →Design a small feed comparison around identifiers, coverage, sessions, timestamps, adjustments, and documented discrepancy resolution.
Read the guide →Read a score through its inputs, weights, comparison universe, missing-data rules, and sensitivity instead of assuming it predicts returns.
Read the guide →Design a simple research workbook with stable identifiers, source records, evidence rows, dated interpretations, and controlled status fields.
Read the guide →