Reddit Pops 14% on Higher AI Data-Licensing Fee Talk
Reddit surged 13.93% Tuesday as investors bid up shares on reports of higher AI data-licensing fees, spotlighting a maturing content-for-training market.
Investing Theory
Factor Investing: Value, Momentum, Quality, Size, Low-Vol
Factor investing in plain English: the five equity factors, where they came from, how Ken French and AQR build them, and where each one breaks.
CRH Nears $8B+ Deal for Arcosa, Its Largest-Ever Takeover
Building-materials giant CRH is reportedly close to buying Arcosa for $8B+, what would be its largest acquisition and a major US infrastructure roll-up.
What Is WACC? Cost of Capital Formula and Worked Example
WACC blends a company’s cost of equity and after-tax cost of debt by their weights in capital structure. The formula, a worked example, and the traps.
Sortino Ratio Explained: Why Downside Risk Beats Sharpe
The Sortino ratio measures returns per unit of downside risk, not total volatility. Here is the formula, a worked example, and when to use it.
Maximum Drawdown Explained: The Real Risk No Average Captures
Maximum drawdown is the worst peak-to-trough loss a portfolio has taken – the single number that captures the pain volatility hides.
WACC Explained: How Companies Calculate Their Cost of Capital
WACC blends the cost of equity and after-tax cost of debt into one discount rate. Here is the formula, a worked Apple example, and the pitfalls to avoid.
Apollo, Blackstone Pitch $36B Debt to Power Anthropic TPUs
Apollo and Blackstone are arranging a record $36B debt deal to fund Anthropic’s Google TPU buildout — a watershed for AI-infra private credit.
Sharpe Ratio Explained: Measuring Risk-Adjusted Returns
How the Sharpe ratio works: the formula, a worked example, common pitfalls, and why William Sharpe himself warned against trusting a single number.