What we watch

What each issue contains

• One development, worked through to what it means for capital
• Who bears the cost and who captures the benefit, named specifically
• Primary sources — filings, published rules, budget documents, data
• The strongest argument against our own reading, stated properly
• What would change our mind
• Full disclosure of any compensation connected to a company mentioned

Our standards, since we have declared a bias

A stated worldview raises the bar on sourcing rather than lowering it. So:

1. Primary sources only. If we cannot point to the filing, the rule, or the data series, we do not publish the claim.
2. We correct in public. Errors get named in the next issue, especially the ones that happened to suit us.
3. We do not launder viral claims. Something circulating widely in our part of the internet is not evidence, and we will say when a popular claim is wrong.
4. We separate conviction from analysis. What we believe about how the world should work, and what we think will happen to a share price, are different questions with different evidence.

What we do not do

No election forecasting, no horse-race coverage, no fundraising, and no money from political committees, candidates, or advocacy groups. No culture-war stories without a traceable economic channel. No claims we cannot source.

And no promises that a political outcome will make you money. It very often does not, and publications that suggest otherwise are selling something other than analysis.