Nike, Inc.

A practical framework for figuring out which companies can pass through input costs, where the lag shows up in margins, and how to read it in filings.

A framework for telling the difference between healthy retail inventory builds and the kind that ends in margin-crushing markdowns next quarter.

ASC 842 dragged operating leases onto the balance sheet. Here's how to read the line items, normalize cross-year comparisons, and avoid double-counting leverage.

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.

How to estimate through-cycle margins and mid-cycle EPS for cyclical stocks — a repeatable framework that strips out boom-bust distortion and reveals real earnings power.

Your cost basis feels like information. It isn't. Here's why anchoring to your purchase price corrodes returns — and a framework to make the decision the market actually asks you to make.