Oxford Ledge — markets, SEC filings, and free finance lessons. Tuesday, July 28th.
A research platform for lifelong students and investors — live markets, SEC filings, and over four hundred free lessons.
LEDGE FACTSunk-cost fallacy: continuing investment based on prior outlays rather than expected future value. (Arkes & Blumer, OBHDP 1985)
Today's headlines
Apple plans to lease iPhones for $17.99 a month through partnership with Klarna
Pilbara Ports sets new annual trade record (Container News)
Start with a lesson
No account needed — the lessons are free. Begin with how the market actually works, in plain English, a few minutes at a time.
BDC universe
Business-development companies are private-credit funds that file their loan books quarterly. Most-held borrower across BDCs: Crewline Buyer, Inc. — Software (9 BDCs have reported exposure).
From the reading list — Book
Burton Malkiel: “A Random Walk Down Wall Street”
Today's reading
Interest Rate Swaps: The World's Largest Derivatives Market.
Markets
S&P 500 quiet on the day.
What’s new
- Chart hover readouts fixed on the light themeHovering a price chart now shows its value chips on a theme-matched panel - the readout was unreadable on the light theme. Both themes verified at WCAG-AA contrast.
- Sharper answer choices across 85 practice check-ins167 overlong quiz options were tightened to parallel, equal-weight choices - and nine length giveaways were removed - so every check-in tests the concept, not test-taking instincts.
- The pulse bar now reads credit, rates, and goldThe always-on market strip grew three signals: the 10-year Treasury yield with its one-day move in bps, the ICE BofA high-yield credit spread (end-of-day, in bps), and GLD.