A short take on what is happening in the markets and around them: macro, politics, FIRE and thoughts.
Behind every great company is a story: someone who believed in an idea that others shrugged off. I start there, because you should meet the hero first. Then I look under the hood: how the business really makes money, what the financial statements hide, where it is heading and what it is worth next to its fiercest rivals. No cheerleading and no doom: I show what speaks for the company and what speaks against it. The conclusions are yours.
Some companies never get a cancellation notice, because switching would cost customers more than a price increase. ServiceNow is one of them, and now it is adding artificial intelligence to the price list. I check how much that moat is worth and what the next report has to show for me to change my mind.
● Updated 03/11/2026Step-by-step courses: from reading a chart and financial statements, through DCF valuation, to a household budget. Pick a topic and start with the first lesson.
All coursesThink of it as a coffee someone left for you on the table. If this analysis helped you understand a company or the market better, you can return the favour: buy me a coffee. Each one is another evening spent over financial statements.