P/E, PEG and Free-Cash-Flow Yield: When Each Metric Helps
What P/E, PEG and free-cash-flow yield each measure, when each one misleads, and a five-step routine to calculate them, worked through with Apple's fiscal 2025 10-K figures.
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Share Dilution and Buybacks: What Existing Investors Should Check
How to measure whether a company is diluting you or genuinely shrinking its share count: gross vs net buybacks, the real cash cost per share retired, the Item 5 repurchase table and the RSU overhang, worked through with Apple’s fiscal 2025 10-K.
02
How to Read a 10-K Annual Report Without Missing Red Flags
Where a 10-K is required to print its warnings: cover-page restatement boxes, the filing deadline and NT 10-K, the auditor's going-concern and critical audit matter language, and Items 9, 9A and 9B — checked against Apple's FY2025 filing.
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Cash Flow vs Profit: How to Judge the Quality of Earnings
How to compare net income with operating cash flow: the cumulative cash conversion ratio, the accrual gap, receivables and inventory checks, and free cash flow after stock compensation, worked through with Apple's fiscal 2023–2025 figures.
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Slippage in Stock Trading: How to Measure and Control It
Your fill price and the price you saw are rarely the same. How to pick a reference price, calculate the gap in basis points, and which controls actually shrink it.
05
Position Sizing: How to Turn Risk per Trade Into a Share Count
Decide the loss first and let the share count follow. The division, a worked table of four trades, the second cap the formula does not give you, and what ten straight losses cost at 1% versus 10%.