Apollo Global Management

A repeatable framework for writing down why you own a stock, what would break the thesis, and when to actually sell — before the news hits and emotion takes over.

Management often reveals more than they intend at mid-quarter investor conferences. Here's a framework for spotting the slips that actually matter to the thesis.

A lower effective tax rate can add pennies to EPS without the business doing anything new. Here's how to strip it out and find the real run-rate.

The first earnings print after an IPO lockup expires has a predictable pattern of disappointment. Here's the supply-and-expectations framework to read it.

Reported beta is a full-sample average that hides what matters most: how a stock behaves when the market is falling. Here's how to measure real downside correlation.