Markets

Special reports

Curated, multi-part reporting on one subject.

  • 3 parts

    How Markets Actually Work

    Three pieces on the machinery beneath the prices: where the cost of money is set, what an exchange-traded fund really is, and what the most quoted number in equities leaves out. Start here if the daily coverage assumes knowledge you were never given.

  • 3 parts

    Reading a Company Properly

    What separates a business that compounds from one that merely grows. Capital allocation, the funding rounds that shape ownership, and the statement that is hardest to dress up.

  • 3 parts

    The Rules That Cost Money

    Most of the law a company complies with was written by agencies, not legislatures. How rules are made, what competition law actually prohibits, and who really pays a tariff.