For public markets investors

Equity research, hedge funds, credit, and asset management.

Earnings previews and recaps from filings, thesis and variant-perception drafting, insider and 13D activity, capital structure and relative value for credit, catalyst calendars, and position notes with cited numbers.

Start as public markets investor

All roles

76: tools for this seat
7: specialties covered
190h: of analyst time per full pass

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A company page assembled from XBRL facts, not a scraped summary

SNOW332.43▼ 1.76%DDOG229.92▼ 2.58%MDB383.56▼ 2.51%NET323.99▼ 2.98%CRWD237.65▼ 3.28%GTLB49.23▼ 2.07%PLTR177.64▲ 0.79%NOW135.47▼ 2.17%ESTC86.96▼ 2.26%CCL21.84▼ 1.49%AAL12.96▲ 0.15%LUMN6.40▼ 1.23%SNOW332.43▼ 1.76%DDOG229.92▼ 2.58%MDB383.56▼ 2.51%NET323.99▼ 2.98%CRWD237.65▼ 3.28%GTLB49.23▼ 2.07%PLTR177.64▲ 0.79%NOW135.47▼ 2.17%ESTC86.96▼ 2.26%CCL21.84▼ 1.49%AAL12.96▲ 0.15%LUMN6.40▼ 1.23%

The day, by level

Associate / Analyst

Maintains the model, writes the earnings preview and recap, tracks the catalyst calendar, does the channel work.

Senior analyst

Owns the thesis and the variant view, sizes the position, defends it in the morning meeting.

PM / CIO

Risk, exposure and sizing across the book. Wants the downside case first.

What it takes off your plate

Rebuilding the quarterly model from the 10-Q every three months
Reading the merger agreement to price an arb spread and its outside date
Tracking insider buys, 13D filings and short interest across a watchlist
Mapping a capital structure and comparing relative value across tranches
Writing the position note in the format your PM expects

Data behind it

•XBRL quarterly series for any concept the filer tags
•8-K item codes including 1.03 bankruptcy, 2.04 acceleration, 4.02 non-reliance
•Form 4 insider transactions parsed to the line
•Merger agreements, proxies and indentures as exhibits

The toolkit

76 tools for public markets investors

Valuation

Peer benchmarking

Growth, margins, cash conversion, and leverage versus a peer set, with the gaps explained.

Precedent transactions from EDGAR

Real deals from merger proxies and 8-Ks: EV, multiples, premiums, and terms.

DCF valuation

Unlevered free cash flow, two terminal methods, and a WACC × growth sensitivity.

WACC

Cost of equity via CAPM, after-tax cost of debt, and the weighted rate with a beta × ERP grid.

Sum-of-the-parts & breakup analysis

Segment-by-segment value, the conglomerate discount, and what a breakup is worth net of costs.

Premiums paid analysis

Premiums to the unaffected price across four windows, with the reference date the proxy used.

E&P reserves, PV-10 & NAV reader

Supplemental oil and gas disclosures turned into PV-10, NAV and EV per flowing barrel.

REIT NAV & implied cap rate

Forward NOI capitalized at market cap rates, against the price the market is paying.

Treasury stock method & EV bridge

Options, RSUs, warrants and converts to diluted shares, then equity value to enterprise value.

Premium analysis

Premiums to every reference price, and the multiples the offer implies.

Calendarization & LTM / NTM

Off-cycle fiscal years standardized to December, with LTM built from the stubs.

Bull / bear / base with price targets

Three driver paths, three targets, probability-weighted value and skew.

Price target from multiples

Three target multiples, the EV-to-equity bridge, the blended target and the upside.

Bull / bear / base expected value

Probability-weighted target, expected return, reward-to-risk skew and the breakeven odds.

Reverse DCF: what growth is priced in

Solve for the revenue CAGR that justifies today's enterprise value.

Monte Carlo DCF

A DCF as a distribution: correlated inputs, P10/P50/P90 per share, and what drives the spread

Beta estimator

Raw, Blume-adjusted and Welch betas with standard errors, and the cost of equity

Credit & restructuring

Capital structure table builder

Every tranche in priority order with leverage through, reconciled to the balance sheet.

Precedent restructurings comps

Plan outcomes: recoveries by class, equity splits, rights offerings and backstop fees.

First-day declaration summarizer

Capital structure, events leading to filing, DIP terms and RSA milestones in one case sheet.

Recovery waterfall & fulcrum

Absolute priority across classes at several enterprise values, with the fulcrum identified.

Capital structure map

Every tranche in priority order with cumulative leverage and the maturity wall.

Credit relative value across tranches

Yield to worst and spread per turn, within the stack and against peers.

Recovery analysis & fulcrum

Waterfall by class at several multiples, going concern against liquidation.

Covenant & document review

Baskets, incremental capacity, blockers and sacred rights, quoted with sections.

Credit metrics & yield to worst

Leverage and coverage with YTM, YTC, YTW, spread and spread per turn.

Recovery waterfall

Distributable value through the classes in priority order, with the fulcrum named.

Credit scorecard

Altman Z and Z'', Ohlson O-score and Merton distance to default, as one implied rating

Research

10-K / 10-Q teardown

What changed, what management said, and what the footnotes hide.

Research brief

A sourced answer to any market, company, or deal question.

Sector KPI extractor

The KPIs that are not in XBRL: ARR and NRR, PV-10 and boe/d, CET1, FFO, backlog, same-store sales.

Earnings preview

The pre-print note: modeled drivers, the debates, guidance on the record, and the setup.

Earnings recap & guidance delta

What was reported, what changed in the guide, and the estimate revisions that follow.

Initiation-style teardown

The long-form first look: business, unit economics, moat, model, valuation, rating.

Competitive moat assessment

Which advantages are real, tested against disclosures and returns on capital.

Sector note / industry primer

Structure, drivers, KPIs, unit economics and the debates, built from the filings.

Diligence

Merger proxy miner

Background of the merger, fairness ranges, adviser fees and projections out of a DEFM14A.

Activism vulnerability screen

How an activist would attack this company, scored across the five standard dimensions.

Short thesis red-flag scan

Accruals, receivables, capitalized costs, the non-GAAP gap, auditor and 4.02 events.

Management quality & incentive review

What the proxy pays them to do, and whether it is what creates value.

Expert call & channel-check synthesis

Raw notes turned into thesis-tagged takeaways, verified where filings can verify.

Public company accounting risk profile

Material weaknesses, restatements, auditor changes, CAMs and going concern on one screen.

Portfolio

Catalyst calendar

Every dated event across the book for the next quarter, with what each one resolves.

Position note (multi-manager format)

Thesis, downside, hedge, size, catalysts, cut level: one page for the PM.

Factor exposure from fundamentals

Which style tilts a basket carries, built from filings when no risk model is at hand.

Position sizing

Volatility-based and risk-budget sizes, capped by liquidity and the single-name limit.

Pairs trade hedge ratio

Beta, dollar, volatility-neutral and minimum-variance hedges with the residual volatility.

Value at risk with a backtest

One-day VaR and expected shortfall three ways, a GARCH forecast, and a Kupiec test

Modeling

NPV, IRR & payback

Capital budgeting on any cash-flow schedule with a discount-rate sensitivity.

Merger model: accretion / dilution

Offer, sources and uses, purchase accounting, pro forma EPS and the break-even synergies.

Contribution analysis

Who brings what to the merger, against who owns what afterwards.

Exchange ratio, floating & collar

Who bears the price risk between signing and close, across a grid of acquirer prices.

Earnings model quick

Revenue growth and margins to GAAP and non-GAAP EPS, with the bridge and a sensitivity.

Screening

Distress screener

Going-concern language, Item 1.03 and 2.04 filings, and the leverage and liquidity that rank names.

Ownership & positioning monitor

Form 4 clusters, 13D/G activity, holder concentration, and days to cover.

Distressed watchlist screen

Leverage, coverage, burn, runway, the maturity wall and the hard 8-K events.

Idea screener over a ticker list

Rank a universe on fundamentals, valuation against its own history, and insider flow.

Short interest & borrow cost drag

Percent of float, days to cover, and what the borrow costs you while you wait.

Capital markets

Credit comps builder

Issuer, tranche, coupon, spread and leverage in one grid, from filings.

Bond new-issue terms extractor

Every tranche from the FWP and prospectus supplement: spread, make-whole, par call, fees.

Bond math: yield, duration & make-whole

Yield to maturity and worst, duration, DV01, convexity and the make-whole redemption price.

Convertible pricing

Bond floor plus option value, delta, and the coupon-premium indifference grid.

SPAC economics & dilution

Cash delivered per share after redemptions, promote, deferred fees and the PIPE.

Sourcing & deals

Merger arbitrage workflow

Read the agreement, date the conditions, then price the spread.

Spin-off, activism & index events

Separations valued sum-of-the-parts, campaigns read from the 13D, index demand sized.

Merger arb spread & annualized return

Offer value, gross and net spread, annualized return, break downside and implied odds.

Deliverables

Company one-pager

A pitch-ready profile of any US-listed company, every number cited.

Thesis & variant-perception memo

Call, falsifiable thesis, the consensus assumption that is wrong, catalyst, risks, sizing.

Reporting

Earnings-day comps refresh

What last night's print did to the comps sheet, and the note that goes to the deal team.

Post-earnings post-mortem

Expectation against outcome, the error classified, the lesson written as a rule.

Communication

Research note compliance formatting

Publishable layout, sourced claims, rating consistency and disclosure placeholders.

Morning note drafter

Overnight filings and news mapped to covered names, a paragraph each.

Accounting & audit

Critical audit matter extraction & comparison

Every CAM in a peer set, the procedures performed, and what the auditor is worried about.

Earnings-quality check

Beneish M-score with its probability, and accruals, from two years of statements

Learning

PM pushback & thesis stress test

A skeptical PM checks your facts, then asks the questions that break the thesis.

Planning & forecasting

Forecast with honest intervals

Paste a series, get the M4-style forecast and conformal 80%/95% bands with a backtest

Set up your public markets investor desk

The survey asks your group, level and sectors, then wires the watchlists, function keys and tools to match.