Reports
Everything we have published, in full — formal studies, case studies, deep dives, market studies, ownership reports, and dated snapshots, each numbered in its series. Pick a card and you are one click from the complete report.
Stock X-Rays
One honest page for every company in the S&P 500 — what it is worth, how its share price has done against the market, and how its sales, profit and cash have moved, all from SEC filings. Each X-Ray carries a valuation label we record today and score later. 500 of the 503 S&P 500 companies now have a published X-Ray — the full run is complete.
Browse the 500 X-Rays →Company / ticker
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Showing 18 of 18 reports
70 years of crashes: early warning signs, lead times, and false alarms
Which warning signs really showed up before past crashes, how early, and how often they cried wolf — plus today's grades for five economies.
Read the full report →The bottleneck playbook: the next company the AI build-out cannot do without
Past explosions in memory, chips and shipping showed the same signs first. Scored against those signs, the earliest-stage candidate today is in chip film and glass cloth.
Read the full report →Intel beat every number and fell 20% — is this season pricing cash, not profit?
Intel beat its sales and profit forecasts, then fell about 20% in an evening — because its free cash flow came in at half the expected level and next year’s was guided to roughly zero. We tested the same pattern across eight big reporters…
Read the full report →Meta: record sales, a falling price, and the glasses nobody is pricing
Meta (Facebook, Instagram, WhatsApp) just had its best sales quarter ever — yet its share price has fallen 20% because its spending on AI computers is now bigger than the cash its ads business brin…
Read the full report →Figma's next year: three paths for the share price — $18, $28 or $41
Figma makes design software that is growing fast — sales up 48% in a year — but its costs are rising even faster, and its share price has fallen about 80% from its post-IPO high. We set out three s…
Read the full report →Netflix's latest results: profits beat, promises slipped
Netflix's July–September 2026 results beat profit hopes but disappointed on everything about the future: slower sales growth ahead, lower ad income than promised, and less cash than expected. Manag…
Read the full report →Netflix: healthy money, worried market
Netflix is still growing — sales up double digits with strong profit margins — but the market has marked its shares down hard, from about $125 to about $72, over worries that people are watching le…
Read the full report →Super Micro: record sales, a $60B order book, and a cash problem
Super Micro builds the computer racks that AI data centres run on. It had a record year — sales of $39.1 billion, up 78% — and a huge order book. But the business uses a lot of cash, recently raise…
Read the full report →Intel's boss has beaten his own promises six times in a row — the pattern, in plain words
We read all six of Intel chief executive Lip-Bu Tan's earnings calls to find the pattern. Intel has beaten its own sales promise in all six quarters — its promises are careful, and it usually does …
Read the full report →What the big funds really do — and which of their tricks can be copied
What do big banks and hedge funds actually do to make money? Mostly, it is not secret signals — it is market plumbing (spreads, financing, fast execution) that a small research engine cannot copy, …
Read the full report →Three AI computer landlords compared: who is strongest?
Three young companies — CoreWeave, Nebius and IREN — all rent out the powerful computers that AI runs on. All three are growing very fast and losing money while they build. CoreWeave is the biggest…
Read the full report →How much do the AI computer companies owe — and do lenders still trust them?
This report looks at how much each of the three AI-computer companies owes, and whether lenders and investors still trust them. CoreWeave owes the most — about $52 billion including leases — and it…
Read the full report →Netflix vs YouTube: one wins the money, the other wins your time
YouTube is winning the fight for viewing time: it now takes a record 14.2% of all TV time in the U.S., while Netflix has slipped to 7.8%. Netflix still makes far more money per viewer, its ad busin…
Read the full report →Fact-check: is Arm really having chips made by Intel? (Short answer: no proof)
You may have heard the claim that Arm — the company whose designs sit inside almost every phone chip — will have its own chips made by Intel's newest factories. We traced the claim to a single anal…
Read the full report →The day before Intel's results: traders were betting on good news
A dated snapshot, taken on the morning of Oct 28, 2026 — the day before Intel's Oct 29 results. Traders were betting on good news: bets on the price rising (calls) heavily outnumbered bets on it fa…
Read the full report →One day in the market: AI excitement, oil swings, and a near-5% Treasury yield
A one-day snapshot of the biggest stock news and social-media chatter on Sep 22, 2026. The day's story was AI excitement: a new Meta AI app sent Meta up 11.4%, AMD passed a $1 trillion value, and I…
Read the full report →Frozen on the day — snapshots are never updated.
Two more studies are planned — the Market Lens and Spring Loader founding studies. They will appear here when published; we do not list drafts as finished work.
Corrections: every public correction is listed, dated, in the Corrections Register — no silent edits, ever.