{"chunkIndex": 0, "stories": [{"id": "bd12579e1e55", "title": "Invisible hand", "slug": "invisible-hand", "headline": "Adam Smith coined the term \"invisible hand.\"", "summary": "What Adam Smith's invisible hand means \u2014 self-interest drives collective benefit", "source": "What Adam Smith's invisible hand means \u2014 self-interest drives collective benefit", "sourceUrl": "https://en.wikipedia.org/wiki/Invisible_hand", "articleUrl": "https://en.wikipedia.org/wiki/Invisible_hand", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [2, 2, -2, 9, -2, -3, 18, 1, -1, -4, 9, 5, 0, -7, -1, -3, -5, 2, -8, 3, 10, -4, -5, -5, 7, 4, 6, -4, -1, -19, -5, 0, 3, 3, 2, 5, 6, 2, -11, 9, 0, 2, 0, 5, 2, 4, 9, -2, -4, -2, 0, 0, -6, 4, 6, 0, 4, -1, 2, -5, 10, 2, -19, 8, 8, 3, 2, -8, -7, -2, 7, -3, 2, -2, -1, 10, -1, -1, -2, -5, 0, 3, -3, 1, -5, 8, 2, -8, 1, 1, -7, 4, -1, -5, -7, -2, -4, -4, -17, 44, -4, 2, -1, -6, 7, -6, 1, -7, -3, 6, 0, 2, 1, -5, 3, -5, -5, -4, 3, -9, -2, 1, 3, 3, -16, 9, -1, 18, 1, -13, 1, -8, 2, 5, -1, 1, -4, 3, 2, 2, 12, 6, -9, -4, -6, 3, 6, 1, 3, 3, 2, -1, -6, -3, -6, -1, 13, 0, 3, 1, -3, -4, -6, 7, 4, -10, 0, 2, -5, -5, 2, 0, -3, 2, 4, 4, 0, -3, -10, 0, 4, -14, -1, 2, 0, 6, -2, -5, 1, 8, 0, 10, -3, -3, -3, -2, 6, -5, -7, -8, -12, 1, -2, -4, 5, 5, 2, -1, 6, 5, -6, 6, 0, 13, -5, -2, 2, -2, -3, -3, -1, -7, -5, -34, -3, -5, 4, -3, -8, 7, -5, -1, 7, 6, 3, -3, 6, -1, 8, -5, -5, -1, 5, -1, 6, 7, -2, -6, 0, 11, 12, -9, 3, 2, 3, -2, -9, -6, 1, 0, 0, -4, 0, 0, 0, -2, 2, -8, -3, 6, 0, 0, 4, 11, -2, 5, 1, -9, 6, -12, 5, 3, 8, 1, 4, -2, -6, 3, -2, 1, 1, -2, -1, -3, 7, 0, -12, 3, -9, 8, 0, -3, -2, 5, -2, 5, 4, -3, 6, 5, 6, 1, 1, 1, 3, -7, 1, 15, -5, -32, -3, -6, 8, -4, 8, 3, 7, -7, -5, -2, 6, 4, 5, -9, 4, 10, -3, -8, -7, 9, 2, 23, -7, -2, 3, -4, 6, -2, 1, 4, -2, -2, -1, 4, 0, 1, -5, 6, -6, -4, -1, 3, -5, 4, -2, 1, -3, 5, 2, -7, 0, 5, 7, 3, -1, 0, 1, 3, -7, -2, 4, 7, 2, 8], "explanation": ["Adam Smith introduced the concept of the invisible hand to illustrate how self-interest can lead to public benefits. He used it in his works to show that individuals pursuing their own gain can unintentionally contribute to the economic well-being of society."], "example": "In \"The Wealth of Nations,\" Smith argued that free markets encourage international trade without government intervention, benefiting all parties involved.", "whyItMatters": "Understanding the invisible hand helps explain the self-regulating nature of free markets and their ability to produce optimal economic outcomes.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/4/43/Adam_Smith_The_Muir_portrait.jpg/1280px-Adam_Smith_The_Muir_portrait.jpg", "imageLicense": "Public domain", "imageArtist": "Unknown authorUnknown author"}, {"id": "b902407be740", "title": "Division of labour", "slug": "division-of-labour", "headline": "Adam Smith argued that specialization and division of labor increase productivity and economic growth", "summary": "What Adam Smith argued in The Wealth of Nations about specialization and division of labor", "source": "What Adam Smith argued in The Wealth of Nations about specialization and division of labor", "sourceUrl": "https://en.wikipedia.org/wiki/Division_of_labour", "articleUrl": "https://en.wikipedia.org/wiki/Division_of_labour", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, 9, 0, 6, -2, -1, 3, 5, -9, -4, 0, 5, 2, 2, 4, 5, -8, 1, -11, 3, 6, -2, -4, -7, 3, -3, -3, -5, 4, -23, 1, -1, 6, 2, 8, -3, 9, 2, -9, 3, -1, 4, -5, -2, 0, 5, 2, 2, -7, 0, -1, -7, -4, 1, 3, 3, 7, 5, 5, 4, 2, 3, -29, 6, 15, 1, -1, -4, -13, 4, -4, 0, 8, 0, -3, 8, -2, -8, 5, 1, 6, 1, -7, -3, 3, 4, -3, 0, 1, -6, 2, 5, -2, -1, 1, -2, -4, 4, -3, 41, -3, 1, 2, -4, 0, 2, 0, -3, 1, 6, 1, 3, -1, -1, 1, -5, -1, -1, 3, -4, 1, -1, -10, -3, -11, -4, 4, 17, 1, -8, -2, -4, 3, 2, 0, 4, 7, -3, 2, 11, 6, 2, -7, -8, -1, 13, 10, 2, 2, -2, -2, 2, -2, -3, -11, -5, 3, 3, 0, -12, -7, 0, -6, 15, 10, -4, -9, 4, 1, -3, 2, 9, -3, -2, 11, 0, -1, 7, 2, 0, 14, -8, -4, -2, 3, -6, 3, -2, -14, 8, 3, 8, -5, 0, 2, 1, 0, 7, -5, 0, -8, 5, -1, -3, -3, 3, -2, 4, 8, 5, -6, -5, 2, 9, -4, 2, 7, -6, -5, 0, -6, -8, -1, -37, -3, -1, 3, 7, -2, 7, 5, -1, 5, 3, 7, 1, 1, 2, 4, -7, -5, 2, 7, -3, 5, -4, -7, -1, -8, 13, -8, 0, -4, 6, 2, 4, -12, 1, 4, -5, -1, -8, -2, 1, 8, -4, 3, -3, -3, -2, 2, 3, -1, 4, 8, 6, 1, -7, -6, -16, 5, -9, 2, -1, -5, -9, 1, 3, -4, 4, -10, -3, 2, 3, -2, -5, -10, 1, 2, 7, 7, -6, -4, 5, 0, 0, 8, 2, -3, 5, -3, 2, -2, -3, 6, -8, 2, 2, 1, -29, 3, -7, -10, -7, 5, 0, 2, -4, 0, 12, 2, -2, 5, -2, -1, 10, -4, -3, -2, 8, 3, 17, -4, 3, 4, -4, 8, -8, -1, 5, 2, 7, -7, -5, 8, 5, -9, 1, 3, -6, -4, -4, 2, 10, 2, -3, -8, 1, 3, 4, -5, 3, 7, 7, 3, -4, 7, 3, -3, -1, -5, -5, 4, 9], "explanation": ["The division of labor, as advocated by Smith, is a fundamental concept that drives trade and economic interdependence. By specializing in certain tasks, individuals and organizations can trade their specialized products or services with others, creating a network of economic relationships. This interdependence fosters cooperation and mutual benefit within the economy."], "example": "A factory that specializes in producing car parts can focus on perfecting the manufacturing process for specific components like engines or transmissions. This specialization allows the factory to produce high-quality parts more efficiently, which can then be traded with other factories that specialize in assembling the cars.", "whyItMatters": "Understanding Adam Smith's arguments about specialization and division of labor is crucial for grasping the underlying principles of modern economic systems and the importance of trade and cooperation in driving economic growth.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Defrance%2C_Visiting_a_nail_factory_%2818th_c%29.jpg/1280px-Defrance%2C_Visiting_a_nail_factory_%2818th_c%29.jpg"}, {"id": "291f4f41855b", "title": "Adam Smith", "slug": "adam-smith", "headline": "Adam Smith coined the phrase \"It is not from the benevolence of the butcher that we expect our dinner.\"", "summary": "What Adam Smith meant by 'It is not from the benevolence of the butcher that we expect our dinner'", "source": "What Adam Smith meant by 'It is not from the benevolence of the butcher that we expect our dinner'", "sourceUrl": "https://en.wikipedia.org/wiki/Adam_Smith", "articleUrl": "https://en.wikipedia.org/wiki/Adam_Smith", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, 9, -4, 2, -1, -10, 10, 1, 0, -3, 5, 1, -4, -10, -2, -1, 2, 7, -3, 0, 11, 7, -1, -2, 9, 6, 7, -2, -3, -12, -3, -8, 4, -2, 4, 3, 5, -2, 0, 11, 0, 1, -4, -1, -4, 4, 4, -4, -5, 3, -3, 0, -3, -6, 1, 7, 2, 2, 6, -5, 4, 4, -27, 8, 10, -8, -3, -7, -7, 2, -2, 3, 6, 4, 0, 4, 5, 1, 1, -3, 7, 0, -2, 0, -7, 2, -6, 1, 0, -2, 2, -3, -2, -3, -3, -1, -8, -1, -10, 40, -10, 6, -1, 2, 1, -3, 1, -7, 2, 0, 0, 1, 4, -4, 7, -3, 4, -3, 1, -1, -2, -3, 4, 0, -12, 1, 1, 17, 4, -12, 3, -10, -1, 1, 0, 7, 11, 3, 4, 0, 10, -8, -11, -2, 2, 4, 12, 1, -7, 1, -4, -2, 0, -4, -12, -7, 4, 1, -3, 1, 1, -5, -5, 7, 6, -7, -1, 0, 5, -5, 9, -4, -8, 4, 9, 4, -4, -3, 0, 3, 12, -9, -5, 7, 5, 2, 1, -7, 4, 8, 5, 13, -3, 3, -8, -4, 3, 5, -1, 1, -11, 0, -4, -2, 0, 2, 6, 1, 0, 8, -1, -1, -5, 9, -1, 5, 3, 1, -4, -3, -5, -2, -1, -45, 4, -5, -3, 0, -4, 1, -1, -6, 10, -6, -5, -1, 4, 0, 12, -4, -13, 5, 6, -2, 2, -4, -13, -2, 4, 14, 7, 1, 3, 1, 1, 0, -16, -2, 4, 0, -8, -2, -1, 4, 5, -5, -1, -4, -5, 2, 0, 4, 9, 10, 1, 8, 5, 2, 4, -11, 6, 2, -1, -3, 2, -5, -5, 0, -4, 9, -5, 0, 2, 0, 3, 0, -14, -3, -3, 9, -5, -10, -6, 2, -1, 4, 4, 2, -4, -5, 0, 3, -3, 1, 0, -5, -1, 3, -2, -27, 3, -1, 0, 3, 5, -1, -2, -13, -4, -3, -5, 1, 2, -4, -1, 15, -5, -9, -3, 12, 8, 20, 0, -4, 3, -2, 2, -4, -1, -1, -3, 5, 1, 4, 2, 6, -2, 0, -4, -13, 5, 0, 0, 11, 0, 2, 0, 3, 2, -1, 0, 1, 7, 2, 2, -1, 2, -3, 5, 1, -3, 5, 9, 0], "explanation": ["The phrase emphasizes the importance of market forces and individual motivation in driving economic activity. It underscores the idea that people engage in trade and commerce not out of kindness but to fulfill their own needs and desires."], "whyItMatters": "Understanding Smith's concept of the \"invisible hand\" is crucial for grasping the fundamental principles of modern economics and the role of self-interest in market dynamics.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/4/43/Adam_Smith_The_Muir_portrait.jpg/1280px-Adam_Smith_The_Muir_portrait.jpg"}, {"id": "80096e968801", "title": "Laissez-faire", "slug": "laissez-faire", "headline": "Laissez-faire economics advocates minimal government intervention in markets", "summary": "What laissez-faire economics argues \u2014 minimal government intervention in markets", "source": "What laissez-faire economics argues \u2014 minimal government intervention in markets", "sourceUrl": "https://en.wikipedia.org/wiki/Laissez-faire", "articleUrl": "https://en.wikipedia.org/wiki/Laissez-faire", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-5, -1, -6, -2, 7, 6, 1, 12, 7, 2, 4, 3, 2, 0, 7, -1, 2, 3, -9, 4, 7, -5, 1, -4, 1, -3, 4, -1, -3, -17, 0, -12, -1, 5, 0, 0, 3, -11, 0, 5, 2, 2, -6, 2, 1, -7, -1, 4, -12, -7, 0, 0, -4, 1, 0, 7, 2, 5, 5, 6, 8, 2, -31, 6, 13, 6, 2, -1, -13, 4, 2, 2, 4, 1, 5, -2, 0, 0, -5, -3, 2, 5, 3, 2, -3, 1, 7, -3, 4, 0, 0, 4, 5, -1, 0, -1, -1, 3, -3, 45, 3, 4, 1, 1, 7, -8, -8, -3, 4, 4, -4, 0, 6, -3, 1, -4, 1, 2, 5, 5, 0, -3, 2, -2, 1, -6, -4, 12, -4, -1, 1, -11, -6, -1, 3, -1, -2, 1, 1, 10, -7, 0, 1, -12, -10, 6, 12, -2, -2, 2, 4, 6, -5, 0, 3, 5, 7, 5, -1, 1, -4, -3, -4, 17, -2, -2, -4, 0, -2, -4, -2, 3, -2, -5, 5, 1, -4, 1, -6, 4, 5, -7, -7, 5, -2, 3, -11, -1, -5, -1, -9, 4, -2, 3, -3, -5, -2, -9, -2, 3, -7, 0, -7, 6, 3, 8, 6, -2, 11, 2, 3, 8, -1, 3, 0, 13, 5, 2, 2, -4, 0, 4, -3, -37, -9, -8, -1, 5, -2, 1, -2, -1, 14, 0, 1, -7, 4, 4, -2, -9, -2, -7, 2, -6, 1, 0, -8, 5, 3, 20, -5, 1, 8, -1, 2, -10, -5, -7, 9, 4, -5, -7, -1, 0, 3, -4, 1, -6, 4, 2, -6, -3, -2, -5, -5, 5, -2, 3, 3, -4, 1, -6, 6, -3, -3, 7, -2, 1, -2, 5, -10, 0, 8, -4, 6, -7, -12, 2, 12, 4, 5, -2, 4, 12, 5, 1, 5, -6, -1, 5, -11, 3, -7, -1, 3, -8, 8, 10, -6, -31, 7, 6, -2, 3, -1, 2, -1, -10, -2, 0, 2, -2, -1, -3, -7, 11, -10, 2, -7, 6, 5, 18, -2, -5, -4, -1, -2, -3, 0, -5, 2, 2, -8, 4, 3, -5, 1, 5, 0, -3, -1, 2, 5, 4, 4, 1, -17, -3, 10, 0, 2, -2, -4, 0, 0, -1, 3, 2, 1, -2, 3, 4, 3, 6], "explanation": ["The Physiocrats, early proponents of laissez-faire, argued for minimal government intervention, particularly advocating for a single tax on land rent instead of a complex network of taxes. This reflects the laissez-faire belief in reducing the role of government in economic activities to allow market forces to dictate outcomes."], "example": "In a laissez-faire economic system, private companies would compete freely without government-imposed regulations, subsidies, or taxes, relying solely on market forces to determine success and failure.", "whyItMatters": "Understanding laissez-faire economics is crucial for grasping the arguments for and against minimal government intervention in markets.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/1/19/Ec_05_%2826114196145%29.jpg/1280px-Ec_05_%2826114196145%29.jpg", "imageLicense": "Public domain", "imageArtist": "Federalreserve"}, {"id": "7fa97add42ae", "title": "David Ricardo", "slug": "david-ricardo", "headline": "David Ricardo was a British economist and politician", "summary": "What David Ricardo's theory of comparative advantage says about trade", "source": "What David Ricardo's theory of comparative advantage says about trade", "sourceUrl": "https://en.wikipedia.org/wiki/David_Ricardo", "articleUrl": "https://en.wikipedia.org/wiki/David_Ricardo", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -4, 3, -1, 7, -1, 3, 13, 1, -6, 5, -6, 1, -3, -2, -2, -4, 1, -7, 6, 4, -6, -8, -6, 6, 0, -1, 5, 1, -24, 2, -7, 1, 4, 3, 2, -3, -2, 1, 7, 0, 0, 1, 2, -3, -5, 3, 8, -7, -2, 0, 10, -1, -4, 6, 9, 9, 3, -5, 3, 7, 7, -34, 1, 9, 2, -7, 4, -5, 10, -2, -3, -1, -3, 3, 1, -8, -6, -5, 11, 8, 2, -4, -8, 1, 1, -5, -5, 0, -3, -1, 1, 0, 0, -3, 0, 5, 4, 0, 42, 3, -1, 3, -6, 8, -3, -13, -9, 5, 7, 2, 5, -5, 2, 2, -2, -2, -2, 7, -1, -3, 6, 10, -5, -10, -2, 6, 7, -5, -8, -6, -4, -1, 0, -1, -2, -2, 7, -3, 9, 0, -1, -2, -6, -5, -2, 10, -2, -9, 2, -8, -5, 4, -3, -3, -3, 8, 4, 0, -6, 0, -5, -5, 15, 0, -11, 1, -1, 1, -3, 0, 1, -4, -7, 11, 0, 2, 4, -4, 2, 9, 0, -10, 3, -4, 4, -1, 7, -4, 9, 0, 13, -4, 5, -1, -1, -5, -4, -6, 0, -8, -1, -7, -4, 0, 0, 2, 7, 3, -1, -1, 0, 2, 0, -1, 8, 4, 5, -5, 0, -1, 0, -8, -36, -8, -11, 5, 6, -8, 9, -7, 4, 14, 0, -2, 3, 12, 3, 1, -1, 2, -4, 1, -8, 5, 1, 2, 2, -5, 15, -4, -5, 0, -2, 5, -4, -1, 1, 1, 1, -9, 2, 5, 7, 1, 3, 8, -4, -2, -2, -1, 0, 13, 5, 3, 2, -1, -4, -2, -6, -1, -6, 4, -5, -4, 3, 3, 5, 1, 6, -8, -3, 10, 1, 4, -9, -3, -10, 8, 6, 3, -3, -4, 5, -2, 5, 9, -2, -6, 4, -10, 4, 7, -4, -5, -12, -4, -3, 8, -25, 1, 0, -4, -4, 2, 4, -1, -2, 1, 5, 3, -4, 6, 5, -4, 8, -2, 8, 4, 3, 5, 19, 5, 1, -2, -3, -1, -6, -4, -1, 0, 9, -9, -4, 12, -4, -1, 4, -5, -3, -3, -6, 6, 8, 10, -2, -11, 0, -2, 5, -1, -4, 6, 0, 2, -4, 2, -3, -7, 5, -6, 6, 0, 4], "explanation": ["Ricardo's advocacy for free trade was rooted in his belief that it increased the well-being of people by making goods more affordable. He argued that free trade allows countries to specialize in producing goods where they have a comparative advantage, leading to more efficient resource allocation and increased overall economic welfare."], "whyItMatters": "Understanding Ricardo's theory of comparative advantage is crucial for grasping the principles of international trade and its benefits. It provides a theoretical foundation for why countries engage in trade and how it can lead to mutual gains.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/d/dc/Portrait_of_David_Ricardo_by_Thomas_Phillips.jpg"}, {"id": "b5f9167f31b5", "title": "Say's law", "slug": "say-s-law", "headline": "Say's law: production creates demand", "summary": "What Say's Law claims \u2014 supply creates its own demand", "source": "What Say's Law claims \u2014 supply creates its own demand", "sourceUrl": "https://en.wikipedia.org/wiki/Say%27s_law", "articleUrl": "https://en.wikipedia.org/wiki/Say%27s_law", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -6, 4, 0, 0, 5, 6, 1, 0, -1, 0, -4, -1, 2, 6, 1, 1, -9, -7, 2, 12, -10, -6, -4, 5, -5, -2, 7, 3, -25, 0, -1, 5, 0, 1, 0, 2, -6, -2, 5, -1, 8, 3, -3, -1, 5, 5, 6, 0, 3, 0, 4, 3, -1, -6, 4, 9, 10, 4, -8, 6, -4, -21, -1, 7, 5, -7, 11, -5, 5, 3, 1, 1, 1, 1, -3, 1, 4, -1, -3, -1, 3, -7, 9, -8, -3, 5, -2, 16, 1, -7, 6, -6, 1, -3, 6, -5, -1, -2, 48, 0, 2, 3, 0, -4, 4, -2, -2, 3, 5, 1, 3, -1, -9, 0, -3, 3, -2, 0, -3, -1, 6, -1, -2, -6, -4, 4, 13, -2, -12, -3, -6, -9, 4, 2, -3, 3, 6, 4, 8, 2, 1, -8, -13, 0, 10, 7, 4, 2, -3, -8, 5, -1, -8, 2, -3, 3, 2, -3, -5, 1, 3, -3, 6, 4, -5, -3, 2, 10, 1, -1, 7, -5, -6, 4, -1, -10, 6, -2, 10, 2, -2, -5, 0, 0, -6, -11, 2, -3, 12, 1, 10, 0, 2, -4, 0, 3, 6, -1, -2, -6, 5, -8, -1, -4, 4, 8, 1, 7, -1, -4, 0, 3, 3, -9, 3, 3, 1, 3, 1, -3, -8, 3, -45, -2, -2, -6, 7, 1, 5, -3, -4, 7, 7, 1, 1, 4, 6, -4, -2, -4, -6, 1, -9, 2, -1, -4, 3, 3, 16, -5, -3, 1, 4, -1, -4, -7, 1, 5, -4, 1, -1, 0, -1, 6, -1, 6, 4, -5, 0, 4, -5, 9, -3, 0, 7, -3, -2, -6, -6, -1, -3, 0, -2, 7, 1, -1, 1, -2, -1, -10, -7, 7, 0, 5, -1, -8, 5, 3, -1, -5, -8, -7, 5, -3, 5, 10, 4, 2, 1, 0, 1, -1, -4, 0, -3, -8, 8, 2, -32, 5, -1, 3, -1, 6, 1, 4, 0, 2, -4, 2, -2, 1, 4, -2, 8, -11, 9, -7, 4, 3, 20, 4, -5, 0, -3, 4, -1, 2, 2, -4, 14, -1, 2, 3, -9, 3, -3, 2, -10, -10, 0, 4, 4, 1, -4, -17, -4, 8, -8, 0, 3, -3, -5, -2, 0, 3, 1, 0, -4, -1, -1, -2, 5], "explanation": ["Say's law posits that production inherently generates demand for other products by creating value that can be exchanged. Jean-Baptiste Say argued that the act of producing goods provides a market for other goods, as the value created by one product can be used to purchase another. This concept suggests that the economy is self-regulating through the natural flow of production and consumption."], "example": "If a factory produces 100 units of shoes, it creates demand for 100 units of other goods, such as clothing or accessories, because consumers can exchange the value of the shoes for these other products.", "whyItMatters": "Understanding Say's law helps explain the fundamental relationship between production and demand in classical economics, highlighting the self-regulating nature of markets.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/b/be/Sherlock_Street%2C_Burnaby%2C_10_avril_2009.jpg", "imageLicense": "CC BY 3.0", "imageArtist": "Philippe Giabbanelli"}, {"id": "a1aa0b08a16b", "title": "Thomas Robert Malthus", "slug": "thomas-robert-malthus", "headline": "Thomas Malthus predicted population growth would outpace food supply", "summary": "What Thomas Malthus predicted about population growth outpacing food supply", "source": "What Thomas Malthus predicted about population growth outpacing food supply", "sourceUrl": "https://en.wikipedia.org/wiki/Thomas_Robert_Malthus", "articleUrl": "https://en.wikipedia.org/wiki/Thomas_Robert_Malthus", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, 1, 1, 5, 11, 0, -2, 5, 2, 2, 4, -12, 2, 5, 1, 1, -4, 7, -6, -4, 11, -10, -1, -10, 5, 3, 3, -3, 1, -23, 3, -3, 7, 1, 5, -1, 7, 0, -1, 11, 1, 5, -4, -4, -7, 4, -6, 0, -7, -6, -8, 5, -8, 3, 1, 3, 1, 2, 4, 1, 5, -4, -26, -2, 9, -2, -5, -1, -7, 6, -6, 8, 7, 1, 4, 3, -4, -2, 2, -1, 8, 3, -3, -2, 0, -7, -6, -3, 2, 4, 0, -2, -4, -10, -5, 2, 3, 2, -6, 48, -1, 7, -1, 5, 0, -3, -9, -2, 4, 5, -3, -3, -4, 7, -3, -5, 3, -4, 2, 4, -2, 3, 5, 0, 6, 4, 0, 13, -3, -17, 3, -4, -5, 3, -2, -1, 4, 2, 6, 3, 0, -3, 1, -6, -5, 13, 13, 3, -6, 1, 0, 12, 8, -6, 3, 2, 1, 9, -4, -2, -5, 1, -11, 6, 4, 1, -6, 1, 8, 3, 9, -2, -5, -8, 13, -2, -10, -4, -1, 3, 5, -3, -10, 0, -4, -3, -1, -6, -4, 3, 0, 5, -5, -2, -5, -5, -8, 6, 2, -2, -6, -4, -3, -1, 1, 1, 12, -1, 6, 11, -1, -1, 1, 8, -4, 11, 9, -4, 3, 5, 11, -1, -7, -39, -4, -2, -7, 3, -4, 6, 2, -3, 0, -3, 0, 5, 12, 3, -9, 1, -2, -8, 5, -2, -1, -6, -3, 7, 1, 12, -4, -3, -2, 0, 2, 0, -5, 1, 5, 6, 1, -6, 0, -4, 6, -10, 2, -7, 0, 0, 0, 1, -2, 4, 0, 8, -6, 2, -4, -3, -1, -3, 8, -5, 3, 1, 2, -2, 0, 2, -5, -13, 0, 4, 11, -10, -2, 2, 1, 4, -1, -13, -8, 5, -1, 12, 2, -1, -3, 1, -4, 0, -2, 3, -2, -3, -4, 2, 9, -27, 8, -1, 1, 0, 0, 5, 5, 6, 6, 4, 0, 4, 2, -3, -8, 2, -10, -5, -12, 9, 1, 19, 3, -6, 0, 2, 1, 0, -5, 1, 3, 4, -5, 1, 10, -1, -3, -2, 2, -1, 0, 2, 1, 8, -1, 5, -8, -1, 10, -4, 1, -3, -4, -1, 3, 1, 1, 3, 3, 3, -7, 1, -2, 1], "explanation": ["Malthus believed that population growth was inevitable whenever conditions improved, preventing real progress towards a utopian society. He argued that this growth would lead to a Malthusian catastrophe, characterized by widespread suffering, war, famine, and disease."], "example": "Malthus's theory suggests that even with technological advancements in agriculture, societies may still face challenges if population growth continues unchecked.", "whyItMatters": "Malthus's predictions highlight the potential risks of unchecked population growth and the importance of sustainable resource management.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/d/d5/Thomas_Robert_Malthus_Wellcome_L0069037_-crop.jpg/1280px-Thomas_Robert_Malthus_Wellcome_L0069037_-crop.jpg"}, {"id": "ab68b035822f", "title": "Labor theory of value", "slug": "labor-theory-of-value", "headline": "Value = Labor required for production", "summary": "What the labor theory of value claims \u2014 the value of a good equals the labor required to produce it", "source": "What the labor theory of value claims \u2014 the value of a good equals the labor required to produce it", "sourceUrl": "https://en.wikipedia.org/wiki/Labor_theory_of_value", "articleUrl": "https://en.wikipedia.org/wiki/Labor_theory_of_value", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-8, 1, -10, -3, 2, -2, 5, 7, 3, 2, -2, -6, -3, 1, 2, 3, -6, 5, -7, 2, 13, -6, -5, -5, 8, -1, -2, 3, 3, -18, -8, 3, 10, 0, 6, -1, 2, -6, -3, 6, -1, 3, -1, -2, -6, 0, -2, 4, -9, -3, 3, 2, -3, -2, 0, 5, 8, 7, 3, -1, 7, -2, -20, 0, 13, 3, -12, 0, -10, 4, 2, 0, 7, -2, 7, -1, 2, -6, -1, 0, 3, 6, -3, 12, 1, -6, 4, -4, 8, -4, -3, 6, -8, 2, 4, -1, -1, 6, -2, 52, -3, 2, -1, -5, -2, 3, -11, -3, 2, 2, 0, 2, -3, -2, 1, 2, 8, -5, 9, -5, 0, 6, 2, 1, -6, -11, 7, 16, 0, -5, -4, -4, -1, 6, 0, 3, 2, 5, -3, 12, 4, -4, -10, -6, -6, 7, 6, -4, -5, -2, -3, 6, -1, 0, 2, -8, -3, 2, -4, -5, -1, -3, -13, 15, 3, 0, 5, -3, 7, -2, -3, 0, -6, -8, 8, 0, -4, 11, -4, 7, 9, -3, -9, 2, 5, 1, -5, 3, 1, 9, -1, 2, -7, 0, 0, -4, -1, -2, -6, -1, -8, 4, -1, -4, -1, 3, 2, 0, 5, 1, 1, 1, 2, 3, -1, 3, 13, 3, 3, -3, -7, 3, 1, -39, -5, -7, 1, 3, 1, 0, -6, -6, 1, 9, -8, -7, 1, 6, -5, -5, -6, -7, 3, -4, 2, 1, -7, -2, -2, 17, -7, 1, -1, 3, 1, -7, -3, -2, 3, -5, 4, 0, 4, 4, 0, -10, 2, 3, 0, -3, -1, 0, 10, 3, 1, -1, 3, -3, -5, -3, 7, -2, 1, 3, 5, 3, 3, 7, -3, 4, -6, -2, 3, 2, 2, -3, -13, 2, 0, -4, 2, -1, 5, 3, 0, -4, 6, 5, 4, 5, -2, 7, -3, -3, 0, -8, -5, 3, 2, -34, 2, -2, 3, -6, 1, 0, 0, -2, 1, 5, 5, 2, -2, 9, 3, 4, -7, 0, -2, 1, 3, 24, -6, -6, 0, -2, 1, 4, 5, 0, -4, 19, -1, -1, 2, -7, -3, -2, -1, -4, -7, -1, 3, 8, 6, -4, -13, 2, 5, -3, -3, 7, 3, -2, -3, 0, 1, -3, -1, -5, 4, 1, 3, 3], "explanation": ["Marx's elaboration on the labor theory of value introduced the idea that value is a social relation specific to commodity-producing societies. He argued that the magnitude of value is determined by the average labor-time required for production under normal conditions. This perspective emphasizes the role of labor in determining the value of commodities within a capitalist framework."], "example": "For instance, if producing a widget requires 5 hours of labor under normal conditions, the labor theory of value would assert that the value of the widget is equivalent to the labor embodied in those 5 hours.", "whyItMatters": "Understanding the labor theory of value helps explain the fundamental relationship between labor and economic value in capitalist societies, influencing economic theories and policies.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/3/38/Diagram_of_Marx%27s_Labor_Theory_of_Value_%28LTV%29.svg/1280px-Diagram_of_Marx%27s_Labor_Theory_of_Value_%28LTV%29.svg.png"}, {"id": "594299a6959f", "title": "Economics", "slug": "economics", "headline": "Keynesian economics emphasizes aggregate demand as a driver of employment", "summary": "What Keynesian economics says about aggregate demand driving employment", "source": "What Keynesian economics says about aggregate demand driving employment", "sourceUrl": "https://en.wikipedia.org/wiki/Economics", "articleUrl": "https://en.wikipedia.org/wiki/Economics", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -10, 0, 1, 0, 6, 7, 3, 0, -2, 3, 3, -3, -2, 0, 2, 0, 2, -9, -4, 8, -10, -3, -10, 7, 2, 2, -1, 2, -19, 0, 1, 9, 2, 9, 11, 3, 4, -1, -2, 3, 3, -5, -3, -2, 5, 1, -2, -10, -3, -2, 2, -1, -3, 1, 4, 1, 6, -1, -2, 6, -2, -22, -1, 17, 7, -3, 0, -8, 7, 1, 0, 1, -4, 0, -1, -6, -6, -6, -1, 0, 5, -2, 7, -2, -4, 1, -6, 8, -5, -1, 2, 1, -2, 1, 5, 5, 12, 3, 48, 4, 1, 0, -4, 1, 2, -4, 2, 4, 4, 5, -1, 3, -3, 3, -5, -1, 3, 7, 5, 4, 6, 2, 0, 3, -5, -2, 13, 1, -8, -6, -4, -8, 4, 1, 4, -1, 0, -7, 15, 3, -2, 1, -10, -6, 16, 8, -1, -3, 2, -1, 0, -3, -5, -4, 2, 4, 6, -4, -2, -13, -4, -8, 5, 3, 0, 0, 1, 1, -5, 8, -6, -9, -1, 11, -2, -3, 9, 1, 1, 3, -10, -3, 0, 1, 3, -7, -1, -4, 3, -2, 6, -4, 1, -5, -13, 1, 3, -8, -3, -4, 3, -2, 2, 0, 4, 0, 0, 12, -6, 3, 0, 8, 10, -4, 3, 5, 1, 6, -6, 1, -1, -5, -41, -6, -4, 1, 9, 1, 4, -1, 0, 2, -2, -1, -2, 6, 5, -1, -12, -9, -9, 4, 0, 0, -9, -7, 0, -1, 18, -8, 1, -1, 0, -4, 0, -3, 1, 6, 4, -9, -8, 1, -2, 1, -13, 6, -8, 7, -2, 1, -7, 4, 3, -1, 4, -7, -1, -6, -5, -1, 1, 8, 3, 4, 2, 1, 3, 1, 1, -11, -4, 8, 1, 5, -3, -4, 5, 1, 3, 4, 0, -4, 6, -7, 5, 12, -1, -4, 4, -9, 2, -2, -8, 5, -6, -6, 5, 5, -29, 2, -2, 2, -1, -1, 1, -2, 0, 3, -4, 4, 2, 5, 5, -1, 9, -5, -2, -3, 2, 0, 22, -9, -6, 1, 1, 1, 7, -3, -4, -1, 12, -7, 1, 1, -8, 9, -3, 1, -1, -1, 4, 9, 7, 1, -3, -14, 3, 9, -2, -4, 3, 6, 2, -2, -6, 4, 2, 0, -5, 2, -4, 2, 4], "explanation": ["Keynesian economics posits that aggregate demand is crucial for driving employment levels within an economy. This theory suggests that when aggregate demand is high, businesses experience increased sales, leading to higher production levels and consequently more hiring to meet demand."], "example": "During economic downturns, Keynesian economics advocates for government intervention through fiscal policies to boost aggregate demand and stimulate job creation.", "whyItMatters": "Understanding Keynesian economics is essential for policymakers to effectively manage economic cycles and reduce unemployment.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/29/Euro_M%C3%BCnzgeld_und_Portmonee_mit_gr%C3%BCnem_Pfeil_%28Geld%2C_Kleingeld%2C_M%C3%BCnzen%29.jpg/1280px-Euro_M%C3%BCnzgeld_und_Portmonee_mit_gr%C3%BCnem_Pfeil_%28Geld%2C_Kleingeld%2C_M%C3%BCnzen%29.jpg"}, {"id": "ae913567f4cb", "title": "Keynesian economics", "slug": "keynesian-economics", "headline": "$1 of government spending generates more than $1 of GDP", "summary": "What the Keynesian multiplier effect does \u2014 $1 of government spending generates more than $1 of GDP", "source": "What the Keynesian multiplier effect does \u2014 $1 of government spending generates more than $1 of GDP", "sourceUrl": "https://en.wikipedia.org/wiki/Keynesian_economics", "articleUrl": "https://en.wikipedia.org/wiki/Keynesian_economics", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -5, 1, -3, 1, 0, 0, 2, 2, 2, 4, 4, 2, 3, 3, 0, -5, -6, -13, -1, 9, -7, 1, -6, 8, -2, 0, -7, 5, -28, 10, 1, 4, 3, 4, 4, 4, 8, 1, 3, 2, -1, -5, -4, -3, 3, -4, 1, -9, -2, 2, -1, -2, 2, 4, 4, -4, 11, -4, -1, 4, 9, -27, -1, 12, 2, 1, 1, -1, 8, -4, -2, -2, -5, -2, -1, -5, -2, -5, 4, 3, 1, -4, -2, -1, -3, -1, -3, -1, -4, -2, 2, 0, 0, -4, 4, 8, 10, 0, 43, -2, -4, 2, 2, 3, -8, -3, -1, 1, 0, 9, -5, 4, -1, -3, -9, 3, -1, 4, 3, 7, 6, 5, -2, 3, -3, 3, 13, 0, -3, -6, -5, -6, 1, 7, -2, -5, 5, 0, 9, 2, 6, -6, -8, -13, 13, 9, 1, -8, 1, -6, 10, 3, -11, 2, 6, -2, -1, 7, -1, -9, -1, -1, 4, 6, 0, 1, 3, 2, -5, 4, -4, -5, -5, 12, -5, -8, 2, 3, 3, 6, -6, -1, 0, 3, -1, -6, 4, -3, -3, 1, 9, -6, 1, -4, -6, 1, 3, -3, -4, 4, 0, 0, 3, -4, 3, 1, -3, 8, -2, 1, -3, 10, 5, -6, 7, 4, 5, 4, -4, 5, -7, -5, -39, -2, 1, 0, 6, -8, 9, -8, -7, 4, -6, -7, -5, 8, 3, -1, -10, 3, -1, 2, -6, -2, -6, -5, -4, -6, 10, -8, -1, 3, 2, 4, -1, 1, 4, 7, 1, -7, -7, -4, 0, 3, -9, 5, 0, 1, -5, -4, -7, 5, -3, 0, 4, -5, 5, -4, -9, 3, 1, 7, 3, -5, 8, 0, 8, 0, -4, -7, 2, 9, 9, 9, -8, -5, 4, 4, 4, 4, -6, 3, 7, 2, 1, 0, -8, -7, 2, -3, 6, -6, -8, -2, -2, 6, 4, 2, -33, 5, -2, -1, 0, -2, 2, 4, 2, 0, -5, 9, 3, -2, 6, -1, 12, -7, 3, 2, 5, 3, 21, -1, -3, -5, -5, -3, 9, -7, -6, 4, 9, -8, 4, 8, -11, 4, 4, 1, 4, -1, 0, -1, 9, 7, 4, -11, 0, 0, -1, 1, 1, 2, 5, -3, -9, 10, 8, 4, -5, -3, -4, -4, 3], "explanation": ["The Keynesian multiplier effect posits that an initial increase in spending (such as government expenditure) leads to a larger increase in GDP. This is because the initial spending creates income for recipients, who then spend a portion of that income, creating further income for others, and so on, leading to a cumulative increase in economic output.", "The multiplier effect is rooted in the concept that not all of the initial spending is saved. Instead, a portion of the income generated from the initial spending is spent on consumption. This spending generates additional income for others, who then spend a portion of that income, creating a chain reaction of spending and income generation.", "The size of the multiplier effect depends on the marginal propensity to consume (MPC), which is the fraction of additional income that is spent. A higher MPC means that a larger portion of additional income is spent, leading to a larger multiplier effect. Therefore, government spending can have a significant impact on GDP, especially when the MPC is high."], "example": "If the government spends $1 billion on infrastructure projects, and the MPC is 0.8, the initial spending generates $1 billion in income for workers and suppliers. If these recipients spend 80% of their income, they will spend $800 million. This spending generates additional income for others, who then spend 80% of that income, generating further income and spending, and so on. The cumulative effect of this chain reaction can lead to a total increase in GDP that is larger than the initial $1 billion spent by the government.", "whyItMatters": "Understanding the Keynesian multiplier effect is crucial for policymakers as it highlights the potential impact of government spending on economic output and helps them design effective fiscal policies to stimulate the economy during downturns.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/5/5f/John_Maynard_Keynes_%281929%29.jpg", "imageLicense": "Public domain", "imageArtist": "Unknown, dedicated to Bettmann Archive"}, {"id": "eb0c3efbcf6d", "title": "Liquidity trap", "slug": "liquidity-trap", "headline": "Interest rates near zero lower bound", "summary": "What the liquidity trap is \u2014 interest rates near zero make monetary policy ineffective", "source": "What the liquidity trap is \u2014 interest rates near zero make monetary policy ineffective", "sourceUrl": "https://en.wikipedia.org/wiki/Liquidity_trap", "articleUrl": "https://en.wikipedia.org/wiki/Liquidity_trap", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -3, -8, 3, 2, -4, 3, 4, 3, 2, 10, 2, 0, 2, -7, -4, -4, -3, -6, 8, 13, -8, 3, -10, 8, 3, 4, -5, -3, -25, -3, -1, -4, 3, 6, 4, 0, 3, -1, -2, -3, 8, -4, -8, 0, -2, 3, 5, -5, -1, 0, -3, -2, 4, -1, 6, 1, 3, 2, -2, 2, 0, -17, -1, 14, 6, 8, 2, -1, 3, 1, -3, -5, 2, 0, -4, 5, 2, 1, 3, 1, -7, 4, 2, -2, -5, 0, -3, -1, -4, -2, 2, 3, -4, 0, 9, 7, 6, -10, 46, 6, 1, -6, -3, 0, -4, -1, 4, 3, -8, 5, 0, 8, -3, 3, -2, -3, 3, 6, 5, -3, 6, 1, 2, -2, -5, -7, 13, -2, 0, 1, -11, -3, -1, -4, 0, -7, 6, 2, -1, -9, 5, -3, -5, -10, 10, 3, 4, -1, 1, -3, 2, -2, -9, 1, 2, 0, 3, -5, 0, -5, -3, -11, 6, 2, 3, -2, -1, -5, -2, 5, -7, 1, -6, 8, 1, -5, -6, -4, 0, -4, 0, 0, 1, -3, 8, -8, -4, -1, -3, -15, -12, -7, 9, -10, -6, 8, 3, -7, -8, 4, 0, 2, 9, 5, 7, 3, -2, 3, 5, 4, 0, 8, 4, 2, -4, 6, 1, -3, -3, 5, 1, 0, -43, -2, -6, -3, 10, -7, 4, -1, -2, 10, -11, -3, -9, 6, 5, 2, -6, 3, -5, 1, -7, 5, -7, -6, 5, 0, 14, -7, -3, -3, -1, 3, -5, -2, -1, 6, 6, -7, 0, 1, -3, 3, -2, 2, -10, 6, -7, 6, -10, 2, 8, 1, 2, 2, 4, -9, -5, -2, 4, 6, 2, 5, 7, -2, 0, 1, 3, -8, 1, 11, 7, 8, -1, -6, 8, 4, 2, -5, -7, -3, 9, 1, 7, 4, -3, 1, 6, -9, 3, -4, -4, 4, -4, 6, 6, -7, -30, 3, 1, -5, -1, 1, 4, -1, -13, 5, -3, 3, 6, -1, -1, -2, 5, -6, 8, -4, 8, 5, 22, 1, -7, 1, 3, 9, 8, 0, -3, 5, 3, 1, -5, 6, -7, 8, 3, -6, 1, 1, 9, -1, 5, -3, 1, -5, 5, 5, 3, -1, 10, 0, 4, 4, -8, -3, 0, 2, -5, -1, -1, -1, 3], "explanation": ["In a liquidity trap, changes in the money supply do not affect inflation. People hold cash expecting adverse events like deflation or insufficient aggregate demand. Historical examples include the Great Depression, the Great Recession, and Japan's Lost Decades."], "example": "During the Great Recession, interest rates were near zero, and despite monetary policy efforts, inflation remained low, demonstrating a liquidity trap.", "whyItMatters": "Understanding liquidity traps helps policymakers design effective strategies to escape them and stabilize economies.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Obverse_of_the_series_2021_%241_Federal_Reserve_Note.jpg/1280px-Obverse_of_the_series_2021_%241_Federal_Reserve_Note.jpg", "imageLicense": "Public domain", "imageArtist": "Aisrotkev8000"}, {"id": "d0ffd4b71666", "title": "Paradox of thrift", "slug": "paradox-of-thrift", "headline": "Paradox of thrift: individual saving decreases aggregate demand and gross output", "summary": "What the paradox of thrift says \u2014 individual saving can cause collective recession", "source": "What the paradox of thrift says \u2014 individual saving can cause collective recession", "sourceUrl": "https://en.wikipedia.org/wiki/Paradox_of_thrift", "articleUrl": "https://en.wikipedia.org/wiki/Paradox_of_thrift", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-5, -4, -3, 5, 4, 0, 0, 4, 3, -1, 8, 1, 5, 4, 5, -1, -6, 3, -7, 5, 4, -13, 1, -5, 5, 1, 0, -3, 5, -27, 10, 0, -1, 0, 7, 7, -3, 3, 0, 5, -4, 6, -2, -11, -1, 7, -1, 2, -5, 1, 1, -1, -3, 2, -2, 4, 1, 11, 2, 1, 8, -3, -20, 3, 13, 10, 3, 5, -5, -1, -3, 3, -1, 1, 6, -4, 3, -8, -5, 4, -2, 3, -4, 6, -8, -6, 3, -9, 2, -6, -3, 5, 8, 0, -3, 4, 6, 6, -3, 51, 4, 1, 8, -1, 1, -4, 1, -6, 0, 4, 1, -1, 2, -4, 0, -7, 4, 2, 2, 1, 2, 10, 2, -7, -4, -1, 0, 14, 6, -10, 3, -5, -4, -4, -5, -3, -1, 7, 1, 0, 2, 2, -3, -6, -5, 11, 8, 1, -1, -4, -4, 0, 1, -5, -3, 3, 3, 7, -3, -3, -8, -1, -10, 6, 3, -2, -2, 4, 2, -1, 3, -3, -1, 0, 14, 0, -6, -2, -1, 3, 0, -3, 2, 0, 4, -2, -10, -4, 3, 1, 2, -2, -8, 3, -6, -3, -1, 5, -6, 3, -4, 1, -3, 1, 2, 8, -2, -6, 18, -8, 3, -2, 5, 12, 2, 6, 7, 5, 6, 1, 10, -5, -3, -36, -4, -7, -6, 6, -1, -5, -1, -8, -3, 1, 2, -11, 3, 2, 0, -8, -2, -8, 2, -9, 5, 0, -4, 1, 0, 13, -7, 5, 5, -3, 5, -2, -5, 1, 5, 0, -7, -15, -9, -2, -3, -6, 9, -2, 2, -6, 3, -7, 5, 5, -1, 3, -6, 3, -3, -7, 7, 0, 3, 4, 3, 8, -3, 8, -5, 0, -5, 3, 6, 2, 9, -7, -7, -2, 0, 0, -4, -3, -7, 11, -5, 5, 6, -6, -1, 0, 2, 3, 2, 0, 4, -1, 0, 5, 6, -31, 3, -8, 2, 2, 6, -2, 1, 1, 5, -3, 9, 2, -7, 2, -2, 2, -3, 5, -7, 2, 0, 22, -2, -1, 4, -2, 0, 6, 1, -4, -2, 7, -2, 2, -6, -11, 5, 4, -2, -6, -4, 8, -1, 12, 0, -4, -11, -2, 3, -2, 1, -1, -4, -5, 1, -12, 0, 9, 0, -3, 6, -5, -9, 4], "explanation": ["The paradox of thrift illustrates how increased saving by individuals can lead to a decrease in aggregate demand. This reduction in demand can negatively impact gross output and total savings in an economy."], "example": "If everyone decides to save more during a recession, businesses may see reduced sales, leading to layoffs and further decreasing consumer spending, exacerbating the economic downturn.", "whyItMatters": "Understanding this paradox is crucial for policymakers to design effective economic strategies that balance individual saving with overall economic stability.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/9/95/Lydia_Lopokova_1922.jpg", "imageLicense": "Public domain", "imageArtist": "Unknown (Bassano Ltd)"}, {"id": "349abfe4b34a", "title": "John Maynard Keynes", "slug": "john-maynard-keynes", "headline": "Keynes coined the phrase \"In the long run, we are all dead.\"", "summary": "What Keynes meant by 'In the long run, we are all dead'", "source": "What Keynes meant by 'In the long run, we are all dead'", "sourceUrl": "https://en.wikipedia.org/wiki/John_Maynard_Keynes", "articleUrl": "https://en.wikipedia.org/wiki/John_Maynard_Keynes", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -3, -4, 7, 1, -2, 6, -1, 4, -5, 6, -4, -3, -2, -1, 1, -6, 1, -9, 0, 11, -3, 3, -2, 9, 1, 6, -10, 3, -14, -2, 2, 7, 3, 7, 8, 4, 8, -2, 8, 2, 4, 1, -1, 0, 1, -3, 2, -9, 0, -1, 3, -3, -2, 1, 3, 1, 6, 6, -6, 7, 1, -29, -1, 9, 5, -2, -4, -7, 7, 1, -3, 8, 6, -3, 5, 5, -4, -5, 3, 12, 0, -8, 0, -10, -5, -6, -5, 6, 3, 1, -4, 9, 7, -3, -5, 4, 9, -2, 40, -5, 4, -5, 0, -2, 1, -3, -2, 8, 6, -3, 5, 7, 0, 6, -12, 0, 0, -5, 7, 7, 3, 3, 0, 0, -1, 6, 18, 0, -10, 1, 0, -8, 4, 0, 7, -3, 1, 0, 4, 1, -6, -5, -1, 0, 5, 5, -5, -6, 6, 1, -1, 2, -6, -2, 0, 8, 2, -2, -3, -8, 1, -15, 2, -1, 0, -3, -5, 3, -5, 5, -11, -4, 3, 11, 6, 2, 2, 0, -3, 2, -4, -2, 2, 3, 2, -4, -6, 5, 7, -2, 10, -8, 0, -6, -4, -7, 5, 2, -1, -13, 2, -2, -5, 3, 5, 2, -6, 4, 1, -4, 3, 1, 6, 3, 2, -5, 4, -5, -2, 2, -8, -10, -40, -2, 6, -2, 13, -2, -1, -2, -7, 6, -5, -8, -3, -1, 0, 5, -10, -7, -6, 10, 2, -3, -6, -9, -3, 3, 19, 2, 3, -2, -1, -2, -4, -8, 6, 2, 1, -4, -10, -1, -2, -4, -8, 11, -1, 3, 4, -8, 3, 1, 9, 0, 2, 1, 5, -1, -4, -4, -4, 4, 2, 8, 6, -6, 2, -8, 1, -3, 1, 6, 3, 10, -11, -13, 7, -2, 6, -1, -5, 1, 2, -11, 0, 12, -1, -3, -1, -5, 1, 2, -9, 1, -8, 0, 4, -3, -30, 6, -4, 3, -4, 5, 1, 11, -5, 3, -5, -1, 1, -6, 0, -5, 8, -9, 1, -2, 5, 0, 17, -7, 0, 4, -1, 8, 12, -6, -3, -3, 9, -6, 6, -3, -5, 9, 10, 2, -8, -1, 6, 1, 7, 6, 3, -7, -5, 4, -2, -1, -5, 3, 5, 0, 0, 2, 1, 3, -9, 4, 0, 5, 0], "explanation": ["Keynesian economics, founded by Keynes, posits that government intervention is necessary to manage economic cycles and ensure full employment. Keynes believed that relying solely on market forces could lead to prolonged economic downturns. His ideas laid the groundwork for modern macroeconomic policies aimed at stabilizing economies through fiscal and monetary measures."], "example": "During the Great Depression, Keynes advocated for increased government spending to boost aggregate demand and reduce unemployment. This approach contrasted with the prevailing belief that markets would self-correct over time.", "whyItMatters": "Keynes' emphasis on short-term intervention is crucial for understanding how governments can actively manage economic cycles to prevent prolonged recessions and unemployment.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/5/5f/John_Maynard_Keynes_%281929%29.jpg"}, {"id": "9389abb04223", "title": "Phillips curve", "slug": "phillips-curve", "headline": "Phillips curve shows inverse relationship between unemployment and inflation", "summary": "What the Phillips curve shows \u2014 inverse relationship between unemployment and inflation", "source": "What the Phillips curve shows \u2014 inverse relationship between unemployment and inflation", "sourceUrl": "https://en.wikipedia.org/wiki/Phillips_curve", "articleUrl": "https://en.wikipedia.org/wiki/Phillips_curve", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-5, 2, -2, 12, 10, 1, 4, 4, -1, 1, 7, 1, 2, -1, -1, -3, -4, 7, -12, -3, 10, -7, -4, -12, 9, 9, 0, -4, 1, -21, 5, -2, 7, 3, 10, 5, -3, 8, -5, 3, -3, 2, 5, -1, -2, -3, -8, 5, -7, -6, 2, 4, -5, 7, -1, 3, -3, 4, -2, 5, 3, 5, -25, 3, 11, 0, 0, -2, -4, 6, -2, 6, -3, -5, 5, 1, -3, 0, 0, 5, 4, 6, -5, 4, 1, -5, 5, -7, 3, 4, -1, -3, -4, 1, -6, -1, 6, 10, 1, 42, -1, 0, 0, 1, 0, 2, -2, 1, 0, 3, 10, -2, 6, -5, 4, -3, -5, 6, 2, -5, 1, 9, 3, -3, -2, -5, 0, 10, 8, -5, -2, -7, -9, 8, -8, -1, 0, 3, -2, 18, 1, -4, 7, -3, -6, 9, 4, -2, -3, 3, -4, 7, 1, -4, -3, -1, -2, -1, 0, -3, -3, -5, -5, 4, 6, -4, 2, 4, 2, -3, 4, 2, -7, -7, 11, 0, 5, 2, -2, -1, 7, -7, -5, 3, 0, 3, -12, -2, -3, 1, -5, -4, -8, 4, 0, -6, 0, 2, -11, -3, -1, 1, -1, 0, 5, 2, 1, -4, 4, -5, 4, -2, 4, 1, -4, -1, 8, 1, -5, 5, 2, -5, 1, -38, -10, -3, 2, 9, -1, 12, -1, 5, 10, -6, 0, -5, 1, 1, 2, 0, -5, -1, 1, -7, -6, 4, -8, 4, 3, 12, -4, -8, 5, -10, -5, -6, -4, 4, 5, 6, -6, -4, -3, -6, -1, -1, 10, -6, 3, -1, 6, -7, 9, 2, 1, 7, -2, 6, -1, -4, -1, -5, 1, 0, 6, 1, -2, 1, 8, -4, -7, -3, 12, 3, 6, -5, -4, -1, 2, 7, 0, -5, -6, 6, -10, 1, 11, 0, -3, 9, -12, 1, -8, -3, -1, 3, -6, 3, 5, -33, -5, -7, -5, 0, -4, 4, 8, -4, -10, -9, 8, 6, 2, 2, -6, 5, -13, 4, 0, -4, 2, 19, -3, -4, -4, 1, 5, 13, 2, 3, -4, 10, -3, 4, 8, -7, 6, 3, -7, -2, -1, 1, -6, 9, -1, 0, -8, 3, 2, -1, -8, 9, 5, -3, -3, -10, 0, 5, -7, -4, 5, -1, -1, 6], "explanation": ["In recent decades, the Phillips curve's slope has declined, sparking debate over its effectiveness in predicting inflation. A 2022 study further explored this phenomenon, indicating ongoing discussions and research into the Phillips curve's relevance."], "example": "In the 1970s, the U.S. experienced stagflation, where high inflation and high unemployment coexisted, challenging the traditional Phillips curve relationship.", "whyItMatters": "The Phillips curve helps economists and policymakers understand the potential tradeoffs between unemployment and inflation, guiding economic policy decisions.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/a/a9/FRED_Inflation_Rate_-_1960_to_present.png/1280px-FRED_Inflation_Rate_-_1960_to_present.png", "imageLicense": "Public domain", "imageArtist": "United States Federal Reserve Bank"}, {"id": "f8d116a61957", "title": "Money supply", "slug": "money-supply", "headline": "Money supply influences inflation", "summary": "What monetarism says about controlling money supply to control inflation", "source": "What monetarism says about controlling money supply to control inflation", "sourceUrl": "https://en.wikipedia.org/wiki/Money_supply", "articleUrl": "https://en.wikipedia.org/wiki/Money_supply", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, 3, -3, 5, 4, -4, -1, 4, -4, 6, 2, 2, -1, 5, 10, 3, -2, -5, -9, 10, 9, -3, -4, -7, 8, 1, 10, -6, 3, -21, 9, -3, 3, 1, 3, 8, -5, 1, -1, 5, -4, 3, -2, -6, 4, 1, 5, 6, -8, 1, -1, 3, -5, 6, 2, 6, -2, 13, 2, -4, 2, -1, -20, 1, 6, 6, 2, 5, -1, 5, -4, 2, -1, -2, 7, -4, 4, -5, -3, 4, 1, 7, -5, 5, -2, -7, 5, -9, -3, -1, -3, -2, -2, 2, -3, 0, 3, 8, -2, 49, 8, -1, -7, 0, 2, -5, -4, 4, -4, 3, 1, -3, 2, -8, -2, -5, -1, 0, 3, 0, 4, 5, 7, -1, 1, -13, 2, 15, 0, -5, -3, -9, -10, -4, -3, -1, -7, 0, 9, 11, -2, -4, 0, -11, -11, 10, 12, -1, -1, 3, -6, 3, -3, -1, -4, 5, 1, 0, -1, -5, -6, 4, -5, 4, 3, -4, -5, -3, -1, -7, -1, 2, -9, -4, 11, -1, -4, 1, -4, 3, -1, -2, -10, 0, -3, -4, -13, -5, 1, -4, -4, 7, -8, 1, -11, -5, 4, 3, -6, -1, -5, 14, 4, 1, 1, 3, 0, -4, 2, -2, 2, 2, 4, 0, -5, 5, 7, -1, 0, 1, 11, -2, -8, -40, -2, -3, -2, 12, 2, 7, 1, 1, 5, -9, -5, -5, 3, 1, 3, -6, -1, -11, 2, -7, 0, -2, -3, 0, 0, 13, 2, -4, -1, -1, -3, -8, -7, 2, 6, 4, -4, -4, -1, 3, 6, -4, 5, -6, -1, -6, 8, 4, 1, 1, 0, -2, 3, -2, -7, -2, -3, 1, 3, 0, 7, 2, -2, 2, -2, 0, -9, -5, 10, 8, 0, -5, 2, 5, 0, 4, -2, -9, -3, 4, 4, 2, 12, 1, -1, 1, -2, 6, -8, -6, 6, -1, -3, 4, 5, -31, 2, 5, -2, 2, 1, 3, 5, -6, 2, -3, 9, 6, 8, 0, -6, 7, -14, 2, 0, 0, 5, 20, 3, -4, 1, 8, 3, 13, 3, 4, -2, 7, -2, 3, 6, -6, 9, 3, 0, -7, 1, 6, -5, 10, -1, 0, -9, 3, 5, -2, -7, 6, -5, 0, -7, -9, -1, 7, 4, -8, -1, 2, -1, 5], "explanation": ["Empirical measures like M1, M2, and M3 help central banks track and manage the money supply. M1 includes physical cash and demand deposits, while M2 encompasses M1 plus savings deposits and other easily accessible assets. These measures provide insights into the money supply's impact on inflation and guide central banks in their monetary policy decisions."], "whyItMatters": "Understanding monetarism's approach to controlling money supply is essential for grasping how central banks manage inflation and economic stability.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Government-Vedder-Highsmith-detail-1.jpeg/1280px-Government-Vedder-Highsmith-detail-1.jpeg"}, {"id": "858d9189c04c", "title": "Permanent income hypothesis", "slug": "permanent-income-hypothesis", "headline": "Permanent income hypothesis (PIH) focuses on permanent income for consumption decisions", "summary": "What Friedman's permanent income hypothesis says about spending behavior", "source": "What Friedman's permanent income hypothesis says about spending behavior", "sourceUrl": "https://en.wikipedia.org/wiki/Permanent_income_hypothesis", "articleUrl": "https://en.wikipedia.org/wiki/Permanent_income_hypothesis", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-2, 6, -4, 4, 5, 1, 5, 7, 2, 5, 6, 3, -3, 4, 2, 5, -4, 1, 3, 5, 12, -14, -6, -4, 9, 7, 3, -1, -4, -23, 0, -4, 7, -2, 5, 5, 0, 1, -6, 8, -1, 4, -4, -1, -2, 3, 5, -1, -9, -3, -6, -3, -2, 3, 1, 9, 5, 3, -5, 1, -2, 3, -24, 4, 6, 11, -4, 6, -4, -1, -5, -2, -3, -6, 4, -7, 4, -1, -3, 3, -4, 4, -4, 1, -4, -2, -5, -6, 6, -7, 2, 3, 2, -3, -6, 7, 9, 2, -4, 48, -2, -1, 0, 1, 2, -1, -5, 1, 2, 2, -4, -1, 6, -6, -3, -4, 1, 5, 9, -6, 0, 4, 5, -4, -1, -8, 0, 13, -1, -4, 5, -6, -8, 1, 3, 5, 4, -1, 0, 8, 2, 10, -5, -11, -11, 15, 4, -1, 0, 0, 5, 5, -1, -9, 1, 1, 1, -3, 0, -5, -5, -4, -5, 8, 5, 3, -3, -1, -1, -7, -6, 2, -6, 4, 3, -3, -8, 9, -5, 6, 6, -9, -3, 0, -2, -3, -2, 0, 1, -7, -1, -3, -8, 7, 0, -10, -1, 4, -9, -1, -1, 5, -2, -5, 0, 4, 3, -1, 13, -4, -3, 2, 3, 7, 1, 2, 8, 3, 7, 0, -3, -5, -5, -39, -3, -3, 0, 1, 1, -2, -2, 3, 2, -1, -1, -3, 3, -2, 2, -7, -6, -11, 4, -6, 4, -2, -6, 7, -1, 13, -2, -6, 5, -1, 4, -3, -10, 5, 1, -2, -5, -6, -6, -4, 2, -11, 1, -12, 2, -3, -5, -3, 7, 5, -1, 8, -9, -1, -6, -1, -2, -2, 2, 2, -4, 3, 0, 9, -7, -7, 0, 1, 10, 6, 9, -2, -5, 4, -1, 2, 1, -3, -1, 10, -2, 6, 10, 0, -4, 6, -6, 2, -2, -8, 8, 2, -6, 5, -1, -33, 5, -9, -3, 5, 6, 0, 2, -2, 3, 7, 11, 9, 1, 5, -6, 3, -2, 6, -1, 3, -4, 20, -4, 3, 0, 4, -1, 5, 2, -3, 3, 10, -4, -2, 2, -6, 7, 7, -2, 1, -5, 0, -1, 12, 2, -4, -11, 1, 5, -5, -5, -3, -1, 2, -5, -5, 5, 9, -5, 5, 7, -4, 0, 7], "explanation": ["The permanent income hypothesis posits that individuals base their consumption on expected long-term income rather than temporary fluctuations. This contrasts with traditional Keynesian views that emphasize immediate income changes affecting consumption patterns."], "example": "If a person receives a permanent salary increase, they will likely increase their consumption gradually over time, reflecting their new permanent income level.", "whyItMatters": "Understanding this helps explain why consumption doesn't always spike with temporary income gains, highlighting the importance of long-term income expectations in economic behavior.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/20/Portrait_of_Milton_Friedman.jpg/1280px-Portrait_of_Milton_Friedman.jpg"}, {"id": "f3516fadcbde", "title": "Milton Friedman", "slug": "milton-friedman", "headline": "Milton Friedman won the Nobel Prize in Economic Sciences in 1976", "summary": "What Friedman meant by 'There is no such thing as a free lunch'", "source": "What Friedman meant by 'There is no such thing as a free lunch'", "sourceUrl": "https://en.wikipedia.org/wiki/Milton_Friedman", "articleUrl": "https://en.wikipedia.org/wiki/Milton_Friedman", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, 6, -9, 7, 7, 2, 7, 4, 4, -3, 4, 2, -4, 2, -1, 3, 1, 3, -5, 3, 11, -9, -10, -6, 15, 6, 0, 0, -3, -15, -3, -15, 0, -3, 7, 6, 9, -4, -2, 4, 9, 6, 5, 4, 3, -7, 0, 1, -5, 2, -2, -3, -2, 5, 0, 11, -1, -1, -5, -6, 0, 0, -32, 1, 12, 6, -3, -4, -9, 2, 2, 5, 8, -2, 5, -2, -3, -8, 0, 5, 8, -2, -2, 2, -10, 7, 0, -3, 3, -5, -6, 0, 8, 1, -3, 5, -2, 7, 3, 43, -3, 3, -3, -11, 4, -11, -5, -5, 6, 4, 2, -2, 19, 1, 7, -6, 7, 2, 5, -5, -5, 7, -2, -8, 0, 0, 3, 9, 6, -10, 1, -3, -5, -4, 10, 3, 2, 7, 8, 0, 2, 1, -10, -3, -1, 7, 10, 1, 1, 5, 0, 5, 1, -4, 2, 2, 4, 3, 0, -3, -7, 0, 0, 11, 2, -2, -6, 0, -4, -1, 3, 2, -3, 1, 10, -3, -2, 4, -6, 0, 2, -15, -6, 0, 8, 3, -5, -4, 7, 6, -1, 11, -6, 4, -4, -7, -5, -3, -2, -1, -10, 2, -4, -1, -3, -2, 6, 3, 15, 5, -1, -2, -12, 10, -6, 7, 9, 2, -4, -11, 0, -4, -16, -32, -3, -9, -5, 4, 1, -2, -7, 4, 5, -2, 2, -8, 1, 3, -1, -3, -1, -8, -2, 3, 8, -2, -1, -4, -6, 12, 1, 3, 6, -2, 7, 0, -9, -5, 6, -3, -4, -7, 0, -5, -4, -6, 5, -9, -2, -1, -6, 2, 4, -4, -5, -2, -3, 2, -1, -1, -2, 0, 0, 1, 5, -3, 5, 2, -3, -4, -4, -6, -2, 3, 8, 5, -1, 3, 3, 8, -4, 1, -1, -1, -4, 5, 14, 0, 1, 1, -5, -7, -2, -1, 4, -7, 3, 5, 2, -29, 7, 0, -10, 8, 6, -1, 0, -10, 3, 8, 3, 2, -4, 3, -3, -1, -4, 0, 2, 8, 7, 15, -4, -2, 7, 4, 5, 5, -2, -1, 3, 4, -7, 1, 4, 0, 4, -3, 0, -9, -4, 12, -1, 8, 2, 1, -12, -1, 2, -4, 3, 4, 2, 2, -1, -9, 2, 1, -7, -4, 1, -4, 1, -2], "explanation": ["Friedman was a key figure in the Chicago school of economics, which initially rejected Keynesianism in favor of monetarism. His ideas later evolved into new classical macroeconomics. He mentored many prominent economists, including Nobel laureates Gary Becker, Robert Fogel, and Robert Lucas Jr."], "example": "Friedman introduced the permanent income hypothesis, which became a fundamental concept in mainstream economics.", "whyItMatters": "Understanding Friedman's contributions helps us grasp the evolution of economic theories and policies that shape today's economic landscape. His ideas continue to influence economists and policymakers worldwide.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/8/82/Portrait_of_Milton_Friedman_%284x5_cropped%29.jpg/1280px-Portrait_of_Milton_Friedman_%284x5_cropped%29.jpg"}, {"id": "ac9693540151", "title": "Quantity theory of money", "slug": "quantity-theory-of-money", "headline": "MV = PY equation", "summary": "What the quantity theory of money says \u2014 MV = PQ", "source": "What the quantity theory of money says \u2014 MV = PQ", "sourceUrl": "https://en.wikipedia.org/wiki/Quantity_theory_of_money", "articleUrl": "https://en.wikipedia.org/wiki/Quantity_theory_of_money", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -3, -8, -4, -4, -2, 4, -1, 13, 0, 2, -4, 2, 3, 9, 0, -5, -5, -13, 6, 16, -14, -8, -7, 10, 5, 6, -2, 2, -26, 4, 0, 5, -3, 1, 5, -4, 0, -2, 9, -6, 4, -2, -3, 7, -6, 0, 6, -4, -2, -4, 5, -5, 1, 2, 7, 5, 8, -1, 0, 6, 3, -14, 3, 8, 1, -2, 1, -7, 3, 1, 3, 0, 0, 3, -5, 2, 0, -2, 7, 2, 3, -5, 3, -8, -7, 3, -4, 2, -6, 1, 4, -6, -2, 4, 4, 5, 6, -3, 51, 7, 5, -2, -6, 1, 3, -3, -3, 3, 0, -2, 8, 3, -11, -6, -3, -4, -3, 5, -3, -5, 3, 5, -2, -5, -8, -2, 15, -2, 5, -2, -3, -10, 3, 2, -2, 4, 6, 7, 8, -4, -4, -5, -5, -10, 10, 9, 0, -1, 0, -3, 5, 3, -8, 1, 2, 1, -3, -3, 0, -6, -4, -4, 10, -3, -4, 5, -5, 2, -10, 1, 2, -9, 0, 9, -5, -2, 0, -2, 5, -2, -4, -5, 4, -4, 1, -1, -2, -1, -1, 6, 2, -1, 3, -4, -7, -2, 1, -6, 3, -2, 1, -6, -1, -1, 6, 5, 4, 5, 8, 3, -2, 0, 3, 0, 1, 9, 3, 1, 0, -6, -5, -3, -41, -2, -2, -4, 8, -1, 2, -1, 1, 7, 4, -2, -1, 0, 0, 2, -10, -4, -11, 2, -11, 3, -7, -7, 2, 2, 15, -3, -5, 4, -1, 0, -9, 2, 6, 1, 2, 4, -8, -5, 3, 2, -1, 2, -6, 7, -1, 1, -6, 9, 2, 6, 4, -1, 3, -8, 3, 6, -1, 6, 0, -1, -2, -2, 3, -6, 4, -8, -3, 5, 2, 6, -1, -7, 1, 0, 7, 4, -7, -1, 8, 2, 0, 7, 4, 0, 3, 0, 3, -4, -8, 4, -1, 0, -3, 0, -34, 2, -5, 7, -6, 6, 4, 0, -8, -2, 0, 7, 8, -1, 0, -6, 5, -9, 6, 0, 7, 0, 23, -2, -4, -2, 1, 2, 8, -6, -4, 1, 9, -4, -4, 5, -10, 3, 3, -5, -2, -1, -4, 3, 11, 7, 1, -11, 1, 4, 4, 1, 5, 1, 1, 2, -8, 0, 6, -2, -5, 3, 8, 0, 0], "explanation": ["The quantity theory of money (QTM) posits a direct relationship between the money supply (M) and the price level (P), assuming velocity (V) and real output (Y) are constant. This theory suggests that an increase in the money supply leads to proportional inflation, as more money chases the same amount of goods and services.", "The equation MV = PY encapsulates this relationship, where M represents the money supply, V is the velocity of money (how fast money circulates), P is the price level, and Y is the real output. This equation serves as a foundational concept in monetary economics, illustrating how changes in one variable can affect others."], "example": "If the money supply (M) doubles while velocity (V) and real output (Y) remain constant, the price level (P) would also double, indicating inflation.", "whyItMatters": "Understanding the MV = PY equation is crucial for economists and policymakers to predict inflationary trends and design effective monetary policies.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/0/00/USDnotesNew.png/1280px-USDnotesNew.png", "imageLicense": "Public domain", "imageArtist": "US Federal Reserve"}, {"id": "f649fc816780", "title": "Natural rate of unemployment", "slug": "natural-rate-of-unemployment", "headline": "Milton Friedman coined the term \"natural rate of unemployment.\"", "summary": "What the natural rate of unemployment is according to Friedman", "source": "What the natural rate of unemployment is according to Friedman", "sourceUrl": "https://en.wikipedia.org/wiki/Natural_rate_of_unemployment", "articleUrl": "https://en.wikipedia.org/wiki/Natural_rate_of_unemployment", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, 1, -6, 13, 3, 5, 8, 5, 0, 1, 2, 6, -2, 3, 0, 3, -4, 11, 1, -3, 19, -8, 0, -7, 8, 2, -3, -4, 0, -11, -5, -7, 7, 2, 9, 5, -8, 8, -7, 3, 0, 3, 1, 1, 3, 7, 2, 4, -10, 4, -4, 2, -2, -2, -2, 4, 1, 1, -2, -3, 4, 2, -27, 4, 13, 0, -2, -5, -9, -1, -2, 1, 1, -3, 3, 0, -5, -4, -3, 5, 6, 2, 1, -3, -2, -1, 2, -5, 7, 0, 1, 6, 4, -4, -2, 9, 5, 12, -3, 41, -8, 5, -5, -3, 3, -6, -7, -7, 7, -2, 5, -2, 9, -5, 6, -11, 2, 3, 2, 3, 7, 3, -3, -7, 5, -1, 4, 6, 9, -6, 4, -5, -12, 1, 6, 3, 2, 5, 0, 14, -1, 4, -10, -2, -5, 7, 9, 2, -4, 6, -4, 5, -2, -1, 3, -4, 2, 2, -5, -2, -4, -2, -5, 11, 5, 2, -5, -1, -2, -5, 6, 0, -1, 0, 10, 1, 1, -1, -1, 8, 13, -8, -7, 4, -3, -1, -7, -2, -1, -4, 2, 5, -10, 4, -6, -8, -1, 1, -2, 4, -17, -3, -3, 3, 2, 3, -3, -1, 10, -1, 2, -4, -2, 8, 3, 5, 9, 1, 3, 2, -1, -5, -8, -37, -5, -6, -2, 9, 3, 2, -6, -1, 4, -2, -4, -2, -4, 5, -6, 1, -8, -4, 1, 3, 2, -6, -9, -3, -2, 12, -2, -3, -1, 0, -4, 2, -8, -4, -2, 2, 0, -1, 1, -6, 3, -6, 7, -10, -5, -1, -4, -2, -1, -1, 3, 0, -5, 4, -7, -9, 0, 0, -1, 5, 4, 7, -1, -1, -4, -3, -1, -7, 5, 3, 12, 3, -13, 5, -3, 0, -2, -2, -12, 2, -13, 1, 8, -7, -5, 7, -5, 1, -5, -5, 1, 7, 1, -1, 3, -30, 7, -5, -3, 3, 2, 4, 1, 3, 4, -4, -2, 1, 1, 6, -1, 5, -4, -2, 0, 5, 1, 22, -1, -1, 8, 2, 12, 8, -7, 2, 3, 10, -2, 2, -2, -2, 6, 6, -7, -12, -4, 13, 10, 7, 1, 1, -15, -7, 7, -6, -4, 6, 7, 7, 3, -9, 1, -2, -6, -2, -3, -6, -3, 3], "explanation": ["The natural rate of unemployment is determined by supply-side factors such as the economy's production possibilities and economic structure. It is not zero but a level consistent with long-run aggregate production. This concept clarifies that full employment is not synonymous with zero unemployment."], "example": "If an economy is producing at its long-run level, the natural rate of unemployment reflects the proportion of the workforce that is unemployed due to factors like job matching and wage adjustments.", "whyItMatters": "Understanding the natural rate of unemployment is crucial for policymakers to set realistic expectations and avoid inflationary pressures.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/7/7f/Oxford_-_Balliol_College_-_geograph.org.uk_-_1329613.jpg", "imageLicense": "CC BY-SA 2.0", "imageArtist": "Peter Trimming"}, {"id": "1bf16ed6e6cb", "title": "Warren Buffett means by 'Be fearful when others are greedy, greedy when others are fearful'", "slug": "warren-buffett-means-by-be-fearful-when-others-are-greedy-greedy-when-others-are", "headline": "Warren Buffett's paradoxical investment strategy: \"Be fearful when others are greedy, greedy when others are fearful.\"", "summary": "What Warren Buffett means by 'Be fearful when others are greedy, greedy when others are fearful'", "source": "What Warren Buffett means by 'Be fearful when others are greedy, greedy when others are fearful'", "sourceUrl": "", "articleUrl": "", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [6, -1, -7, 6, -1, 2, 17, 4, 8, -7, 13, -6, 3, 3, -4, 8, -3, -1, -3, 5, 5, -4, 4, -10, 9, 1, 3, 8, -3, -13, 0, -4, -3, -3, 8, 8, -2, 6, -1, 13, -8, 1, -1, -7, 0, -1, 0, -4, -5, 0, 3, 0, 0, -3, -2, 2, 8, 11, -5, 5, 8, 0, -16, 1, 10, 8, -3, 3, -12, 6, 7, 0, 5, 3, 7, -4, -3, -4, -4, 6, 4, 3, -2, -7, -2, -2, 7, -3, 2, -1, -8, 4, -2, -8, -3, -2, -1, -2, -7, 41, 4, 9, 2, 1, 7, -3, -4, -3, -2, -1, -6, -6, 13, -5, 4, -3, -3, -1, 2, 1, -3, 2, 6, -2, -9, -6, 5, 13, 6, -5, 0, -1, -2, -1, 3, -1, -3, -1, 10, 3, 0, -4, -1, -8, -5, 7, 10, 1, -3, 3, -9, 0, -3, -4, -3, -2, 3, 5, -4, -1, -1, -6, -13, 3, 2, -1, -4, -3, 1, -6, 1, 0, -6, 6, 1, -1, -7, -5, -9, 3, 2, -11, -7, 1, -1, 3, 2, -7, 0, 5, -3, 5, -16, 2, -9, -2, -5, 8, -4, 6, -6, 0, -7, 0, -1, 5, 7, -10, 9, -5, 0, 4, -7, 6, 2, 11, 9, 12, -5, -3, -2, -1, -3, -36, -3, -6, -1, 2, 0, 3, -7, -5, 0, -4, -7, -2, 0, 3, -2, -7, 0, -6, 12, -10, 7, -2, -8, 3, 9, 14, 10, 0, -2, 5, -4, -4, -8, 7, -5, 3, -6, -16, 0, 0, 0, -1, 4, -5, 5, 1, 13, -2, 2, 7, 2, 1, 5, 7, -2, -6, -7, 3, 0, 3, 3, 3, 0, 1, -5, 5, -4, 0, 5, -4, 9, -4, -8, -2, 2, 1, -5, -5, -1, 4, -6, 0, 6, -6, -2, -5, 3, 13, 4, 0, 3, -9, -1, 6, 5, -32, 2, 3, 0, -1, 4, -1, 4, -8, 1, -3, 7, 3, 1, -1, -3, 10, -2, 0, 3, -1, 3, 29, 7, 1, 0, -6, 4, 3, 0, -2, -7, 3, -9, 3, 2, 0, 2, -4, 4, -5, 10, 12, 1, 13, 1, -4, -8, -8, 4, -3, 2, -4, -6, 0, 3, -4, -3, 0, -3, 2, 3, -8, 3, -1], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/f/f5/Photos_NewYork1_032.jpg", "imageLicense": "CC BY-SA 3.0"}, {"id": "a8bdef9cd586", "title": "Buffett means by a company's moat", "slug": "buffett-means-by-a-company-s-moat", "headline": "Why do some companies stand tall like castles?", "summary": "What Buffett means by a company's moat \u2014 sustainable competitive advantage", "source": "What Buffett means by a company's moat \u2014 sustainable competitive advantage", "sourceUrl": "https://en.wikipedia.org/wiki/Moat", "articleUrl": "https://en.wikipedia.org/wiki/Moat", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [2, 2, -1, 3, 1, 1, 17, 5, 7, -5, 4, 1, 1, -3, -1, 1, 1, -4, -1, 7, -2, -7, -1, -2, 4, -8, -1, 5, -6, -16, 0, -8, -2, 1, 2, 7, -4, -2, 8, 6, -9, 3, 3, 3, 2, 1, 6, 0, -9, -3, 0, 0, -1, 0, -1, 10, 4, 6, 0, 0, 10, -1, -20, 7, 8, 7, -11, 8, -8, 5, 10, -4, 0, 1, 3, 2, -5, -4, -5, 2, 8, 3, -7, -6, -4, 0, 4, -2, 16, 0, -1, 4, -7, -5, -2, -3, 7, -4, -4, 44, 0, 7, -2, -4, 6, -1, -6, -1, 4, -4, 0, 4, 7, -2, 5, -7, -7, -9, -6, 2, -3, 5, 4, 1, -11, -4, 4, 5, 3, -3, -2, -1, -6, 1, 1, 2, -8, 5, -2, 4, -1, -1, 4, -8, -2, 6, 8, 2, -3, 2, -5, -3, 6, -6, -3, 4, -10, 2, 0, -5, -3, -1, -6, 7, -2, -20, -5, 2, -2, 1, -4, 0, 2, 3, 1, -2, -14, -6, -7, 3, 8, -3, -7, 1, -1, 0, -2, -5, 1, 4, -15, 2, -12, 3, 1, 5, 2, 6, 8, 0, -10, 4, -8, 1, 0, 5, 6, -3, 9, -4, -5, -3, -3, 6, 9, 8, 8, 1, -1, 2, 10, 0, -2, -35, -1, -9, 3, -5, -2, 0, -1, 0, -5, 3, -11, -2, 0, 0, -1, -7, 4, -4, -3, -5, 7, -3, -5, 13, 0, 16, 0, -5, 1, 8, 7, -2, -6, 8, 1, 5, -6, -10, -1, -3, 5, 1, -4, -6, 0, -1, 1, 4, 12, -4, 7, -1, 5, 5, -3, -8, 6, -3, 5, 4, 2, -7, 11, 1, 0, -2, -4, 0, -2, -9, 5, 2, -12, -4, 6, 3, -4, 1, 5, 3, -3, 5, 5, 0, 1, -4, -6, 6, -2, 0, 5, -5, -11, 5, 5, -32, -1, -3, -3, -2, 3, 1, 9, -2, 6, -2, 0, 2, -9, -1, -3, 15, -4, 7, 2, 4, 5, 24, 6, 0, -1, -3, 0, 0, 1, -4, -6, 12, -3, 1, 8, 2, 3, 1, -4, -1, -1, 2, 8, 6, 2, 1, 1, 6, -4, -11, -3, -1, -1, -6, -1, -6, -4, -3, -2, 3, 4, -9, 10, 11], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/4/4a/Macon-Knoxville_Store_Ledger%2C_1825-1831_-_DPLA_-_c3f55a1ea6756939ace0330d279f54ec.pdf/page1-960px-Macon-Knoxville_Store_Ledger%2C_1825-1831_-_DPLA_-_c3f55a1ea6756939ace0330d279f54ec.pdf.jpg", "imageLicense": "Public domain", "explanation": ["Imagine you're walking through a crowded market, and you notice some shops always have long lines of customers. Why do some shops attract more people than others?", "It's like a moat around a castle, protecting it from invaders. In business, a moat is a strong advantage that keeps competitors at bay, ensuring customers stick around."], "example": "A coffee shop with a cozy atmosphere and excellent coffee keeps customers coming back, even when there's another coffee shop nearby.", "whyItMatters": "A company's moat is its sustainable competitive advantage."}, {"id": "79bed17dc3ce", "title": "Glossary of contract bridge terms", "slug": "glossary-of-contract-bridge-terms", "headline": "Margin of safety principle: Buy below intrinsic value", "summary": "What Buffett's margin of safety principle says \u2014 buy below intrinsic value", "source": "What Buffett's margin of safety principle says \u2014 buy below intrinsic value", "sourceUrl": "https://en.wikipedia.org/wiki/Glossary_of_contract_bridge_terms", "articleUrl": "https://en.wikipedia.org/wiki/Glossary_of_contract_bridge_terms", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [0, 2, -6, -3, -3, 2, 13, 6, 11, -3, 3, -6, 0, 4, -4, -3, 3, -1, -3, 5, 13, -7, 2, -5, 10, -4, -1, -2, -5, -22, -2, -6, 2, -4, -1, 3, -1, -2, 2, 9, -1, 6, -1, 6, 5, 1, 7, -4, -4, 0, 1, 6, 4, -2, -1, 7, -2, 6, -1, 8, 7, -2, -21, 0, 6, 1, -8, 6, -10, 4, 9, -1, -1, 1, 2, -5, 6, -6, -5, 1, 5, 5, -9, -2, -2, 4, 7, -4, 8, 0, -4, -7, 2, -5, -3, 1, -1, -3, -1, 45, 1, 12, -9, 4, 1, 0, -2, -3, 6, -1, -1, 11, 5, -6, -4, 3, 2, -3, 6, -2, -3, 9, 10, 0, -4, -8, 5, 11, 5, 0, 3, -12, -2, -5, 2, 2, -1, 10, 7, -2, -8, -2, -1, -1, -5, 10, 2, -1, 1, 2, -5, -4, 3, -2, -2, 4, -5, 3, -12, -4, -5, -5, -12, 13, -5, -5, -7, 6, 1, -5, 4, 1, 1, -5, 10, 0, -8, -3, -5, 5, 3, -14, -8, 4, -3, -1, -8, -3, 6, 4, -4, -2, -10, 9, -4, 3, 0, 8, -2, 5, -1, 0, -7, 1, -4, 3, 4, -8, 4, -3, -6, 0, -4, 7, 5, 0, 9, 9, -4, -2, 5, 1, -2, -43, 1, -8, -5, 0, 2, -2, 0, -2, -5, 0, -5, -8, -4, -1, 5, -6, -6, -11, 2, -10, 10, -9, -7, 8, 3, 11, 2, 8, -2, 3, -3, 0, -4, 10, -3, 1, -3, -10, -2, 1, 4, -6, 0, -4, 3, -2, 3, 0, 5, 8, 4, -6, 11, 4, -5, -5, 1, -5, -3, -1, 8, -1, 3, 1, -5, -1, -7, 1, 6, -3, 3, 0, -11, -1, 5, -3, -1, -4, 0, 3, 3, 10, 2, -5, -2, -1, -4, 3, -2, -3, 3, -4, -4, 5, 5, -30, 4, 1, 0, -4, 0, 6, 0, -7, 7, -2, 5, 5, 0, -1, -4, 5, 0, 8, 1, 2, 6, 22, 7, 1, 2, 0, 2, 6, 7, 2, -6, 6, -4, 6, 1, -6, 1, 9, -3, -3, -6, 7, 1, 6, -1, -5, -10, -1, -2, 3, 1, 5, -9, -1, 6, -1, 5, 3, -3, 3, 5, -4, 4, 5], "explanation": ["Warren Buffett's margin of safety principle is a fundamental investment strategy. It emphasizes buying assets for less than their intrinsic value to minimize risk. This approach helps investors avoid overpaying and ensures a buffer against market volatility."], "example": "If a company's intrinsic value is estimated at $100, Buffett might buy its shares for $80, ensuring a margin of safety of $20. This cushion protects investors from potential losses if the market price drops.", "whyItMatters": "The margin of safety principle is crucial for investors seeking to minimize risks and protect their capital. By buying below intrinsic value, investors can better weather market fluctuations and achieve long-term success.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/0/01/NYSE-floor.jpg", "imageLicense": "Public domain", "imageArtist": "en:User:Taak"}, {"id": "16691eb1251f", "title": "Warren Buffett", "slug": "warren-buffett", "headline": "Warren Buffett's net worth as of January 2026: US$148.9 billion", "summary": "What Buffett means by 'Price is what you pay, value is what you get'", "source": "What Buffett means by 'Price is what you pay, value is what you get'", "sourceUrl": "https://en.wikipedia.org/wiki/Warren_Buffett", "articleUrl": "https://en.wikipedia.org/wiki/Warren_Buffett", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [2, 0, -1, -11, -2, 5, 7, 5, 7, -2, 15, -2, 2, 2, -2, 4, 0, -13, -6, 8, 11, -4, 4, -9, 7, -2, -1, 2, -5, -12, -2, -8, 1, -2, 3, -1, -4, 2, 7, 5, -3, 1, 3, 2, 1, 5, -3, -3, -4, 4, -4, 1, 4, 0, 1, 4, -2, 2, -2, 2, 1, -4, -19, 0, 5, 3, 2, 2, -14, 0, 6, 0, 4, 0, 4, -10, -5, -10, -1, 1, 2, 2, -2, -5, -6, -1, 5, 0, 1, -2, -5, 1, -2, -3, -1, 5, 6, -3, -3, 42, -2, 6, 0, -10, -2, 5, -5, 2, 1, 1, -4, 4, 10, -9, 1, -1, 2, -8, 8, -3, 0, 4, 6, 3, -4, -1, 16, 16, 1, 4, 8, -3, -4, 1, 5, 3, -1, 7, 6, 3, -4, -6, -3, -1, -11, 7, 2, -6, 1, 1, -8, 2, 2, -6, -3, 9, -6, 3, -7, -4, -5, -7, -15, 4, 7, -13, -3, -5, 2, -2, 0, 3, -4, -2, 16, 1, -1, 2, -4, -5, 7, -7, -9, 5, -1, 3, -5, 1, 8, 5, -1, 5, -21, 13, -7, 4, -6, 11, 2, 5, 4, 0, -2, -4, -4, -4, -3, -1, 9, 0, 3, 3, -5, -3, -1, 1, 14, -2, -2, -5, 0, -8, 1, -34, 2, 1, -1, 2, -6, -1, 4, 1, 5, -10, -8, -5, -4, -2, -3, 2, -2, -4, 4, -11, 4, -9, 4, 13, 6, 12, 3, -8, 0, 9, -7, -4, -3, 7, 4, 6, 2, -8, -1, -5, -6, -1, -1, -4, 13, 1, -3, 4, 3, 3, 1, -6, 6, 10, -1, 0, -1, -2, 2, 1, -5, -6, 6, 3, -9, 1, -3, -2, -6, -1, -2, 7, -4, -1, -1, -1, 1, 4, 7, 1, -7, 4, 4, 0, 4, 2, -4, 2, 1, -1, 1, -5, -6, -4, 6, -31, 4, -6, -1, 3, -4, 3, 9, -6, 3, 3, -1, 7, -9, 1, -7, 4, -2, 3, 4, 6, 3, 19, 10, 3, -3, -6, 5, 17, 2, -5, -3, 6, -9, 0, 3, 3, 2, -8, 1, -2, 3, 3, 4, 12, 8, -3, -5, 1, -1, 1, 2, 6, -6, -5, -2, -7, 3, 2, -2, -5, 13, -15, -1, -1], "explanation": ["Warren Buffett is recognized as one of the world's wealthiest individuals, with an estimated net worth of US$148.9 billion as of January 2026. This fact highlights his success as an investor and philanthropist.", "Buffett's journey in business and investing began early in his life, influenced by his father and further shaped by his education at prestigious institutions like the Wharton School and Columbia Business School. His investment approach is rooted in the concept of value investing pioneered by Benjamin Graham.", "The equation \"Price is what you pay, value is what you get\" encapsulates Buffett's investment philosophy. It emphasizes the importance of investing in undervalued assets that have the potential to generate significant returns over time."], "whyItMatters": "Understanding Buffett's net worth and investment philosophy provides valuable insights into successful investing strategies.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/d/d4/Warren_Buffett_at_the_2015_SelectUSA_Investment_Summit_%28cropped%29.jpg"}, {"id": "49fb8e5cd775", "title": "Buffett means by 'Only when the tide goes out do you discover who's been swimming naked'", "slug": "buffett-means-by-only-when-the-tide-goes-out-do-you-discover-who-s-been-swimming", "headline": "Why sometimes you buy something cheaper than it's worth?", "summary": "What Buffett means by 'Only when the tide goes out do you discover who's been swimming naked'", "source": "What Buffett means by 'Only when the tide goes out do you discover who's been swimming naked'", "sourceUrl": "https://en.wikipedia.org/wiki/Value_investing", "articleUrl": "https://en.wikipedia.org/wiki/Value_investing", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [6, -2, -5, -2, 3, -2, 19, 1, 5, -7, 14, -5, -2, 2, 1, -4, 3, -8, -6, 2, 11, -4, -4, -9, 7, -3, 2, 6, -10, -5, -1, -2, -10, -2, -2, 4, 2, -8, 5, 6, -7, 2, -3, 3, -2, 4, 3, -2, -4, 0, -5, 1, 6, -7, 4, 7, -4, 8, -5, 2, 6, -5, -13, -3, 10, 5, -2, 7, -7, -3, 7, 3, -2, 9, 5, -1, 3, 2, -5, 4, 2, -3, 2, -1, -4, -7, 9, -6, 8, -2, -6, -1, -4, -5, -1, 3, 1, 2, -2, 41, -4, 10, 3, 0, 3, -2, -3, 0, -2, -1, -4, 6, 13, -5, -2, -2, -2, -3, -1, -4, -9, 4, 14, 2, -11, -5, 8, 13, -6, -12, 9, -12, -3, 0, 8, -3, 0, 5, 3, -3, -8, -3, -3, -4, -2, 3, 7, -3, 1, -1, -1, -5, -1, -5, 2, 0, 0, 7, -5, -4, -3, -5, -6, -3, -5, -11, -4, 2, -6, -2, 2, 2, -2, 5, 12, 1, -2, 0, -5, 5, -2, -4, -8, 1, -2, -5, 1, -1, 9, 0, -3, -9, -7, 7, -1, -1, -1, 6, -1, 2, -2, -5, -1, -5, -1, 6, 10, -5, 7, 0, 9, 5, -10, 5, 4, 5, 10, 3, 3, -4, 3, -12, -3, -38, 1, -9, 2, 8, -2, -7, -1, 0, -4, 2, -11, 2, -4, 0, -1, -2, 7, -4, 10, -11, 4, -3, -5, 6, 6, 19, 13, 4, 0, 0, 0, 2, -7, -2, 2, 3, -1, -14, 1, -5, 0, -1, 0, -7, 9, 4, 7, 1, 9, 0, 3, -1, -2, 7, -1, 2, -2, -7, 0, 3, 5, 3, 4, -1, -9, 2, -9, 0, 3, -9, 6, -7, -9, -7, 3, 2, -5, -2, -5, 7, -1, 0, 5, -2, 1, -4, -4, 4, 2, -3, 5, 2, -4, 2, 6, -33, 11, 0, 5, 1, 9, -4, 9, 0, 6, -1, -1, -1, -3, -4, -1, 4, -5, 2, 5, -1, 5, 21, 6, -5, 2, 2, 4, 10, 3, 1, -2, 5, -4, 2, -7, 1, 3, 3, -7, -5, -2, 0, 5, 16, 7, -3, -5, -9, 2, -4, 3, 1, -6, 3, -1, -17, 1, 10, 3, 2, 9, -4, -3, 4], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/40_Wall_Street.jpg/1280px-40_Wall_Street.jpg", "imageLicense": "Public domain", "imageArtist": "ChrisRuvolo", "explanation": ["Imagine you're shopping for a used car. There's one that looks great but is priced at a fraction of what you think it's worth. You hesitate because you fear it might not be a good deal.", "Value investing is like spotting that used car that's cheaper than its true value. It's about finding hidden gems that others overlook."], "whyItMatters": "The key insight is to buy undervalued assets, ensuring a margin of safety.", "example": "You find a car listed for 5,000, but after some research, you know its real worth is 10,000. Buying it for $5,000 is a great deal."}, {"id": "73f2b34e2420", "title": "Buffett indicator", "slug": "buffett-indicator", "headline": "Buffett indicator measures market cap to GDP ratio", "summary": "What the Buffett indicator measures \u2014 total market cap divided by GDP", "source": "What the Buffett indicator measures \u2014 total market cap divided by GDP", "sourceUrl": "https://en.wikipedia.org/wiki/Buffett_indicator", "articleUrl": "https://en.wikipedia.org/wiki/Buffett_indicator", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, -6, 0, -3, 3, 1, 11, 3, 9, -1, 11, -7, 2, 5, 3, -4, -5, -2, -5, 5, 7, -7, 0, -3, 8, 7, 0, -2, -11, -20, 7, -5, -1, -1, -1, 3, -1, 3, 4, -3, -6, 4, 1, 1, 1, -4, -2, 8, -10, -2, -1, 2, 4, 4, 0, 7, 0, 4, 3, 8, 12, 2, -25, -7, 13, 6, -3, -3, -14, 5, -1, 1, -3, -2, -6, -3, -6, -7, -2, 3, -1, 5, 1, -2, 2, 5, 3, -1, 6, -6, -3, 1, 2, -4, 1, 7, -2, 3, 1, 40, 3, 1, 2, -5, 2, -5, 2, -3, 2, 2, -5, 6, 8, -9, -6, -5, -7, 2, 9, -4, -2, 3, 9, 1, 2, 7, 8, 4, 1, 2, -3, -3, -11, 0, 4, -2, -2, -2, 12, 7, -1, 0, 3, -8, -4, 18, -1, -3, 2, -2, -8, 5, 1, -9, -4, 7, -2, 1, 2, -3, -11, -7, -13, 11, 5, -11, -6, 12, -3, -7, 0, -3, 0, -5, 9, 1, 0, 1, -7, -3, 9, -5, -9, -3, 1, 2, -5, -7, 3, 2, -3, 2, -7, 13, 0, -2, 0, 5, -3, -3, 2, 3, -9, 6, -2, 4, -1, 1, 10, 8, 8, 11, -3, 6, -1, 6, 8, -1, -2, 2, 5, -5, -5, -37, -1, 1, 4, 3, -1, 0, 4, 5, 0, 0, 0, -8, -9, 3, 1, -11, 1, -7, 2, -1, 7, -11, 2, 13, -1, 14, -6, 2, -1, -3, 4, 1, -7, 5, -4, -3, -2, -11, -3, 0, -2, -2, 2, 1, 0, 10, -3, -2, 2, 2, -7, -2, 6, 4, -2, -4, -5, -6, -2, 1, 1, 7, 0, -4, 0, -2, -4, -4, 6, -4, 3, -2, -4, -2, 3, 5, 4, 2, -1, 1, -5, 3, 6, -9, 1, 2, -8, 2, -3, -3, 2, -3, 1, 3, 9, -32, 12, -2, 2, 3, -4, 1, 4, -7, -1, -6, 0, 7, -6, -6, -3, 6, -6, 6, 6, 8, 2, 25, 7, -7, -1, -1, -7, 10, 4, 2, -3, 12, -9, 2, 9, -5, 6, 0, 5, 5, -1, -1, 2, 10, 4, -8, -6, 0, 0, -2, 2, -1, 3, -1, 3, -8, -2, 5, -3, -7, 0, -8, -1, 1], "explanation": ["The Buffett indicator compares the US market's total capitalization to the country's GDP, providing a snapshot of market valuation."], "example": "In February 2021, the Buffett indicator crossed the 200% level, indicating extremely high market valuations.", "whyItMatters": "Understanding this ratio helps investors gauge market overvaluation or undervaluation.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Hang_Seng_Index.png/1280px-Hang_Seng_Index.png", "imageLicense": "CC BY-SA 3.0", "imageArtist": "Jashuah"}, {"id": "b35df50de535", "title": "List of Saturday Night Live commercial parodies", "slug": "list-of-saturday-night-live-commercial-parodies", "headline": "James Signorelli produced many SNL ad parodies", "summary": "What Buffett means by staying within your circle of competence", "source": "What Buffett means by staying within your circle of competence", "sourceUrl": "https://en.wikipedia.org/wiki/List_of_Saturday_Night_Live_commercial_parodies", "articleUrl": "https://en.wikipedia.org/wiki/List_of_Saturday_Night_Live_commercial_parodies", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [2, 0, -1, -2, -2, 10, 9, 4, 4, -8, 0, 5, 3, -2, -1, -2, 5, 1, 0, 2, 4, -3, 0, 1, 10, -2, 2, 0, -7, -14, 2, -7, -5, -6, -1, -5, -2, -2, 4, 0, -3, 4, 2, -2, -6, 3, 4, 5, 0, 4, -4, -7, -1, 5, 1, 5, 1, 6, -8, 5, 5, 0, -18, 2, 3, 4, -4, 4, -12, 7, 2, -9, 0, 3, 0, 1, -5, -7, -10, 6, 5, -1, -1, -3, -2, 2, 3, -1, 8, 1, -1, 0, 1, -4, -1, -2, 2, -6, -5, 46, 2, 2, 3, -2, 1, -5, 0, -1, 4, 2, -8, 6, 11, -7, 5, -2, 1, 1, -1, -8, 1, 10, 0, -4, -1, -10, 10, 8, 4, -3, -4, 3, 4, 6, 8, 0, -2, 8, 4, 3, 3, -2, 6, 0, 4, 11, 1, -2, -4, 10, -6, -4, -2, 6, 4, -4, 4, 8, -5, 0, -5, -6, -2, 0, -3, -14, -9, -3, -3, -6, 6, -5, -10, 0, 5, -4, -7, 4, 2, 4, 7, -12, -10, 2, -9, -2, -1, -8, 8, 7, 2, 2, -22, 1, -7, -3, -2, 5, 2, 2, -12, 1, -5, -7, 1, 1, 1, -10, 16, 0, -3, 7, -9, 7, 7, 6, 8, -2, 0, 4, 6, 3, -5, -39, -6, 2, -1, 0, -7, -6, -1, 9, 3, -8, -8, -4, -8, 5, 1, -9, 4, -1, 0, -4, 10, -3, -1, -2, 1, 16, 17, 1, -5, 0, 1, -2, -9, 6, -1, 10, -4, -2, -1, -7, 4, -2, -3, -2, 0, -6, 2, 0, 5, 5, -2, 2, 3, 3, -3, -2, 2, -3, 4, -2, 1, -2, 11, 6, 6, -6, -9, 7, 0, 0, 7, -1, -5, 3, -3, 4, -3, -2, -1, 5, -4, 2, 3, -8, 1, 2, -5, 10, 6, 2, 11, 1, -4, 0, 10, -36, 4, -5, 0, -1, 7, 0, 3, -6, 0, 4, 0, 6, 0, -3, 5, 8, -2, 1, -1, 0, 0, 24, 1, -6, 1, 0, 2, 7, 2, -3, -3, 8, -4, 4, -2, -7, -4, -2, -3, -2, 4, 7, 3, 7, 4, 1, -5, -1, -1, -8, -1, 3, -6, -5, -1, -4, 1, 5, -1, -8, 5, -2, 7, 4], "explanation": ["Signorelli's parodies have been featured in prime-time clip shows, indicating their popularity and impact on audiences. The modernizations of these parodies in 2005 and 2009 further emphasize their enduring appeal and relevance."], "whyItMatters": "Understanding Signorelli's work helps appreciate the importance of staying within one's circle of competence in comedy. His ability to create relatable and entertaining content across various industries showcases the benefits of leveraging one's strengths and knowledge areas.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Day_28_Occupy_Wall_Street_Tom_Morello_2011_Shankbone.JPG/1280px-Day_28_Occupy_Wall_Street_Tom_Morello_2011_Shankbone.JPG", "imageLicense": "CC BY 3.0", "imageArtist": "David Shankbone"}, {"id": "82c321e7622f", "title": "Benjamin Graham's Mr. Market allegory teaches about market irrationality", "slug": "benjamin-graham-s-mr-market-allegory-teaches-about-market-irrationality", "headline": "Why do we sometimes buy into a market frenzy without thinking?", "summary": "What Benjamin Graham's Mr. Market allegory teaches about market irrationality", "source": "What Benjamin Graham's Mr. Market allegory teaches about market irrationality", "sourceUrl": "https://en.wikipedia.org/wiki/Mr._Market", "articleUrl": "https://en.wikipedia.org/wiki/Mr._Market", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [5, 4, -4, 0, 2, -1, 11, 10, -3, -2, 5, 0, 0, 5, 3, 4, 0, 1, -3, 3, 2, -8, -3, -2, 9, -4, 4, 4, -5, -14, 5, -1, 3, 1, 7, 0, -1, 0, 4, 3, -9, 4, -2, 2, -8, -6, 3, 2, -5, 1, -10, -4, -6, 4, -2, 9, 0, 4, -2, 1, 9, -2, -18, 2, 9, -1, -5, 8, -6, 3, 2, -1, 1, 4, 5, -6, -7, 0, 3, 2, 3, 5, -5, -9, -5, 1, 4, -5, 5, 5, 8, 0, -4, -5, 0, 2, -5, 3, -8, 39, 1, 2, 4, 0, 0, -4, -4, -3, 1, 1, -6, 0, 13, -5, 8, -4, 1, -4, 8, 3, -4, 7, 6, -2, -9, -10, -5, 17, -1, -7, 0, -2, -8, 6, 3, 5, -8, 1, 4, 3, -4, 4, -6, -10, -4, -1, 17, -5, -3, 10, -4, -5, -4, -6, -2, -2, 13, 10, -7, -6, -10, 3, -7, 12, 0, -6, 1, 0, -5, -4, 1, 5, -9, 3, 5, 2, -5, -4, -2, 4, -1, -10, 2, 4, -5, -6, -5, 1, -4, 1, 5, -3, -11, 1, -9, -5, 0, 3, -9, 0, -11, -6, -8, 2, 10, 6, 4, 2, 7, 5, 9, 5, -7, 4, -2, 4, 2, 4, -4, -1, -3, -1, -11, -38, -1, -4, -1, 5, -3, 2, -4, 5, 8, 7, -7, -7, -5, 0, -7, -14, -3, -9, 11, -9, 7, -3, -7, -3, 2, 15, 6, 4, 6, -4, -2, 0, -7, 1, 1, 9, -4, -11, 5, -4, 3, -4, 5, -11, 0, 0, 7, -1, 10, 11, 0, 8, -3, -4, -2, -4, 2, 5, 5, 0, 4, 4, 0, 3, -4, 3, -9, -4, 4, -2, 9, -3, -11, -1, 5, 10, -3, -3, 4, 1, 3, 0, 13, -4, -1, -2, -11, 8, 3, -4, 4, -9, 4, 9, -4, -25, -1, -1, 4, -2, 5, -1, 5, -3, 2, 1, -1, 9, -3, 3, 0, 7, -7, 6, 1, 8, 9, 24, 2, -9, 1, 0, -2, -2, 2, 7, -3, 1, -10, 5, 2, -5, 4, 9, -3, -6, 2, -1, 7, 11, 0, 1, -4, -4, 3, -3, 3, -6, 4, -5, 1, -9, -4, 5, -4, 0, 0, 12, 0, 3], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/5/54/Turk%27s_Head_Tavern_plaque_1764_London.jpg", "imageLicense": "Public domain", "imageArtist": "Man vyi", "explanation": ["Imagine you're at a crowded concert, and everyone suddenly rushes to buy a limited edition band T-shirt. Prices skyrocket, but you buy one anyway, believing it's a great deal.", "This scenario mirrors Mr. Market's irrational behavior, where emotions and herd mentality drive prices away from intrinsic value. The technical term is market irrationality."], "example": "You paid 150 for a T-shirt that initially cost 20, just because everyone else was buying it.", "whyItMatters": "Don't let emotions guide your investment decisions; focus on intrinsic value instead."}, {"id": "aa22e88d1c86", "title": "Value theory", "slug": "value-theory", "headline": "Graham emphasizes intrinsic value as a company's true worth based on fundamentals", "summary": "What Graham means by intrinsic value \u2014 the true worth of a company based on fundamentals", "source": "What Graham means by intrinsic value \u2014 the true worth of a company based on fundamentals", "sourceUrl": "https://en.wikipedia.org/wiki/Value_theory", "articleUrl": "https://en.wikipedia.org/wiki/Value_theory", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [5, 4, -2, -4, 5, -3, 12, 3, 6, -2, 4, -2, 5, -5, -1, -1, 1, -2, -4, 7, 14, -13, 1, 2, 10, 4, -4, 2, -1, -20, -9, -1, 8, 3, 5, 7, -2, 2, 0, 7, -6, 2, -8, 4, -4, -1, 0, 4, -6, 4, 3, 2, -3, 2, -8, 8, 6, 5, 2, 0, 6, -4, -20, 3, 5, 0, -9, 1, -16, 1, 7, -2, 3, 0, 2, -3, 3, -3, 1, -1, 7, 6, -7, 2, -3, 9, 6, -5, 11, 4, 9, -4, -10, -6, 1, 0, 2, -5, 0, 46, 3, 6, -3, -3, 4, -3, -5, -3, 11, 1, 1, 8, -2, -7, -1, 2, 0, -7, 6, -12, -4, 1, 6, 6, -8, -1, 4, 7, -2, -4, 3, 3, -10, 1, -2, 6, -1, 9, 2, 9, -2, -4, -5, 0, -8, 6, 1, 0, 0, 3, -1, -1, 1, -4, -2, 1, 6, -4, -8, -14, -6, 1, -17, 20, -2, -10, 1, -1, -2, -4, -4, 2, -3, -5, 6, 1, -5, -4, 5, -1, 6, -4, -4, 6, 1, -4, -12, -2, 2, 2, -4, 3, -10, 0, 5, 2, 3, 9, -1, 4, -1, 0, -2, -8, -2, 1, 4, 1, 8, 7, -2, 3, -6, 3, -2, -2, 4, 7, -11, 5, -5, 0, -5, -37, 0, -5, -2, 6, 4, 1, 3, -2, -4, 0, -4, 0, -2, -4, -4, 0, -9, -9, 4, -6, 7, -7, -2, 3, 2, 14, -1, 5, -1, -1, 5, 2, -6, 5, -1, 3, 2, -8, 1, 5, -2, -5, -3, 2, 0, 3, -5, 2, 13, 3, 2, 4, 8, 6, 0, -7, 8, 0, -2, -1, 0, 0, 3, 3, -15, -3, -5, -1, -2, -1, 3, -3, -11, -3, 2, -1, -2, 5, 1, -4, -1, 0, 6, 2, 0, 8, -3, 8, 2, -7, 0, -6, -8, 7, -2, -28, 1, -8, 0, -2, 3, -3, -2, -13, 7, 5, 1, 7, -6, -2, -1, 14, -5, 10, -5, 10, -1, 22, 0, 1, -1, -6, 4, -1, 7, 6, -4, 6, -2, 8, 1, -6, 0, 8, -4, -4, -3, -4, 4, 6, 2, -3, -3, 6, -8, -5, 3, 7, -2, 5, -2, -5, 1, 2, -3, -4, 3, 2, 6, 7], "explanation": ["Graham's concept of intrinsic value focuses on the inherent worth of a company, independent of external factors. This intrinsic value is derived from the company's fundamentals, such as its financial health, business model, and competitive advantages. By assessing these core aspects, Graham believes investors can determine a company's true value."], "example": "A tech company with strong financials, innovative products, and a loyal customer base would have high intrinsic value according to Graham's principles.", "whyItMatters": "Understanding intrinsic value helps investors make informed decisions by focusing on a company's fundamental strengths rather than market fluctuations.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/e/ea/NY_stock_exchange_traders_floor_LC-U9-10548-6.jpg/1280px-NY_stock_exchange_traders_floor_LC-U9-10548-6.jpg", "imageLicense": "Public domain", "imageArtist": "Thomas J. O'Halloran, photographer"}, {"id": "0ac2e1bb7733", "title": "Graham's net-net strategy is", "slug": "graham-s-net-net-strategy-is", "headline": "Graham's net-net strategy: Buy stocks trading below net current asset value", "summary": "What Graham's net-net strategy is \u2014 buy stocks trading below net current asset value", "source": "What Graham's net-net strategy is \u2014 buy stocks trading below net current asset value", "sourceUrl": "", "articleUrl": "", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, 4, -4, -1, 1, 6, 12, -2, 1, -3, 7, 5, 6, 2, -3, -2, 1, -4, -1, 2, 7, -1, -1, -3, 18, -6, -7, -5, -5, -22, 0, -2, -3, 2, -1, -2, -3, 1, 3, 8, -6, 3, -9, 4, 6, -4, 3, 1, -1, -1, -1, -6, -1, -1, 3, 7, 5, 2, -1, 7, 3, -2, -22, -1, 1, 1, 2, 4, -10, 6, 4, 1, -4, 0, -2, -5, -1, -1, 3, 0, 6, 6, 3, -4, 0, 5, 3, -1, 7, -2, 1, 2, 0, -3, -4, -2, -2, 3, -2, 45, 6, -3, 0, 3, 1, -10, -8, -4, 10, 6, -4, 0, 2, -9, 2, 2, 1, 4, 1, -2, -2, 1, 4, 1, -1, 0, -2, 11, 1, 4, 3, -3, -10, -5, -1, 5, 3, 1, -4, 4, -6, 0, 4, 0, -4, 10, 4, 1, 1, 2, -2, 2, -1, -10, -3, 4, 5, 1, -4, -12, -14, -1, -13, 12, 5, -13, -3, -1, -5, -3, 0, 2, -4, -4, 11, 4, -11, -10, -3, 1, 2, -9, -4, 5, -4, 4, -7, 3, 5, -5, -10, -6, -5, 10, -6, 5, 1, 9, -1, 5, 9, -4, -1, 3, -4, 4, 4, -10, 8, 5, -2, 7, -3, 6, -8, 0, 0, 9, -3, -1, 1, -5, -4, -41, 0, -7, -9, 8, -2, -3, 2, -3, 3, 2, -5, -7, -6, 1, -2, -4, -11, -8, 9, -6, 0, -9, -3, 6, 1, 13, -5, 16, 2, 0, -1, -4, 2, 2, 0, 9, -5, -13, -5, -8, 3, 0, -10, -6, 5, -1, 0, 5, 8, 8, 4, 6, 14, 7, -1, -5, 1, 1, -1, 0, -3, 4, -3, 4, -5, 2, -4, -3, 7, 0, 5, -2, 3, -2, 12, -2, 3, -8, 2, 5, -3, 6, 5, 2, -5, 1, -2, 1, -4, -10, -2, -8, 1, 2, -5, -29, 7, 2, 0, 2, 0, 8, 1, -9, 6, 5, 2, 6, -1, -2, -2, 9, -3, 11, 6, 7, 8, 20, 3, 9, 3, -10, 0, 0, 4, 6, 0, 6, -1, 2, -1, -4, 5, 6, 0, -7, -4, 0, 4, 10, -5, 1, -3, -1, -6, -2, 1, 7, -5, 7, 0, 0, -9, 2, 1, 4, -4, -1, 0, 1], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/New_York_Stock_Exchange_-_panoramio_%282%29.jpg/1280px-New_York_Stock_Exchange_-_panoramio_%282%29.jpg", "imageLicense": "CC BY 3.0", "imageArtist": "TomasEE"}, {"id": "c4024886b15a", "title": "The Intelligent Investor's key lesson is", "slug": "the-intelligent-investor-s-key-lesson-is", "headline": "Invest wisely, with discipline and a long-term perspective", "summary": "What The Intelligent Investor's key lesson is \u2014 investing is most intelligent when most businesslike", "source": "What The Intelligent Investor's key lesson is \u2014 investing is most intelligent when most businesslike", "sourceUrl": "", "articleUrl": "", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [2, -6, -5, -5, -1, 1, 8, 1, 3, -4, -1, -1, -2, 4, -1, -2, -7, 1, -7, 4, 4, -10, -4, 1, 6, -12, 3, -5, -5, -12, 2, 0, 4, 1, -4, 6, -10, 3, 4, -3, 5, -3, 4, 0, 0, -2, 5, -5, -3, -3, -15, -6, -1, 1, 5, 8, 1, 5, 2, 1, 7, 3, -18, 4, 4, -2, -4, -2, -6, 1, 12, 0, 3, -2, 6, 8, 0, 0, 0, 2, 7, 0, -6, -2, -5, 4, 0, -6, 4, 1, 2, 1, -1, -5, 2, -1, 5, -1, -13, 45, 1, 5, 4, -1, 3, -7, -1, 1, 6, 3, -9, -6, 7, 1, -3, 7, 1, -2, 7, 0, 4, -3, 4, 3, -7, -10, 3, 8, -7, -2, 0, 1, -8, 4, 7, 2, -3, 1, 3, -4, -1, 8, 0, -7, -4, 10, 8, -1, -2, 4, -6, 1, 10, -4, 5, 7, 7, 1, 2, -6, -10, 1, -9, 12, 3, -8, -7, 0, -3, 0, 7, 2, -2, 6, 6, 1, -7, -8, -7, 6, 10, -9, 0, 0, 0, 2, 3, -5, 3, 1, -1, 10, -8, 7, -5, 4, -2, 7, -6, 2, -12, -4, -8, -1, -2, -3, 3, 2, 16, -3, -1, 5, 2, 6, 0, 1, 4, 4, -4, 6, 7, -1, -3, -40, -3, -11, -2, 7, -4, 9, -2, 8, -1, -2, -7, 1, -3, 0, 1, -3, -5, -13, 2, -7, 10, -10, -10, 7, -1, 17, 2, 6, 2, 3, 6, -2, -12, 7, -4, 9, -6, -11, -6, 3, -2, -5, 2, -12, 6, 0, 2, -6, 5, 5, -2, 2, 3, -1, -6, -5, 8, 1, 8, 2, -6, -2, 1, -1, -11, -1, -2, 0, 0, -3, 5, -7, -9, 1, 1, 4, 0, 1, 6, 7, -1, 4, 5, -6, -4, 1, -5, 11, 5, 0, -3, -14, -11, 11, -5, -29, 1, -3, 2, 3, 10, -4, -2, -5, 9, 0, 1, 3, 0, -3, -7, 6, -4, 9, -1, 4, 9, 23, 1, 1, -1, -1, 2, 1, -7, 14, -4, 1, -2, -2, 6, -4, 1, 1, 2, 1, 0, -3, 7, 9, 2, 7, -8, -2, -4, 3, 2, -5, 2, -1, -2, -1, -4, -1, 2, -1, 0, 4, 4, 2], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/c/c5/Peter_Tuchman_in_NYSE%2C_2021_%28cropped%29.jpg/1280px-Peter_Tuchman_in_NYSE%2C_2021_%28cropped%29.jpg", "imageLicense": "CC BY 2.0", "imageArtist": "Bear Bull Traders"}, {"id": "a78493c859e3", "title": "Benjamin Graham", "slug": "benjamin-graham", "headline": "Graham coined the term \"margin of safety.\"", "summary": "What Graham means by the margin of safety \u2014 the gap between price and intrinsic value", "source": "What Graham means by the margin of safety \u2014 the gap between price and intrinsic value", "sourceUrl": "https://en.wikipedia.org/wiki/Benjamin_Graham", "articleUrl": "https://en.wikipedia.org/wiki/Benjamin_Graham", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, 0, -4, -4, 4, -1, 12, 7, 6, 0, 3, -4, 3, 3, 0, 1, 1, 4, 1, 4, 7, 0, 5, -1, 6, -1, -3, 3, -5, -16, -5, 0, 4, 0, -5, 3, 1, 3, 0, 2, -5, 7, -4, 4, -3, 2, 6, 0, -6, -3, -2, -5, -1, -1, -3, 7, 2, 4, -5, 4, 3, -4, -25, -1, 10, -11, -12, 5, -13, 6, 8, -1, 5, 2, 1, -1, 3, -8, -1, 1, 9, 7, -11, 1, -8, 1, 11, -10, 5, 3, 4, -7, -2, -4, -4, -7, -2, -5, 2, 39, -3, 7, -4, 1, 4, 1, -3, -6, 8, -4, 5, 10, 1, -1, -2, -1, -2, -5, 10, -7, -3, 7, 7, 0, -9, 5, 10, 12, 3, -6, 2, -4, -4, 1, 3, 4, -5, 10, 10, 1, -2, 0, -1, -5, -2, 5, -1, -4, -4, 4, 0, -9, 2, 0, 5, -1, 9, 3, 0, -4, 2, -6, -16, 19, -1, -5, 1, 5, -6, -3, 4, 7, -3, -3, 3, 3, -6, -3, 0, 1, 7, -8, -11, 2, -2, 0, -5, -2, 4, 8, -7, 0, -10, 2, 0, 2, -5, 8, -2, 4, -7, 1, -5, 3, 2, 3, 1, -8, 1, 3, 3, 6, -3, -2, -1, 1, 4, 7, -9, 3, 3, 3, -7, -40, -2, -9, 0, 5, 6, -2, -4, -9, -3, 5, -3, -12, 0, -2, -2, -7, -12, -12, 5, -9, 11, -6, -2, -5, 5, 11, 2, 8, -9, 5, -3, 6, 1, 3, 0, -1, 2, -8, -3, 2, 4, -2, 3, -5, -4, -6, 2, 5, 8, 4, 0, 0, 14, 2, -4, -4, 6, -6, -9, 1, -2, 2, 4, -2, -3, 4, -8, -3, 5, -5, 14, -3, -18, 1, 1, 3, -2, -7, -3, -2, 1, 5, 5, 1, -4, 5, -4, 7, -2, -3, -5, -3, -3, 5, 0, -27, 7, -10, 2, -2, -1, 7, 3, -4, 6, 4, 4, 6, 2, -2, 2, 11, -6, -1, 4, 5, 9, 20, -6, 1, 1, -3, 4, 4, 8, -2, -2, 4, -14, 9, 6, 6, 5, 10, -1, -5, -2, 6, 3, 8, 0, -2, -7, 3, -5, -2, 2, 6, 1, 2, 3, -2, 8, 0, -7, -1, 0, -3, -2, 3], "explanation": ["By focusing on the margin of safety, investors can make more informed decisions, protecting their capital and achieving long-term gains. This approach aligns with Graham's emphasis on independent thinking and emotional detachment."], "whyItMatters": "Understanding the margin of safety is crucial for investors to minimize risks and make sound investment choices.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/2/2a/Benjamin_Graham_%281894-1976%29_portrait_on_23_March_1950.jpg"}, {"id": "9cc836588caa", "title": "Efficient-market hypothesis", "slug": "efficient-market-hypothesis", "headline": "Prices reflect all available information", "summary": "What the efficient market hypothesis claims \u2014 prices reflect all available information", "source": "What the efficient market hypothesis claims \u2014 prices reflect all available information", "sourceUrl": "https://en.wikipedia.org/wiki/Efficient-market_hypothesis", "articleUrl": "https://en.wikipedia.org/wiki/Efficient-market_hypothesis", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -4, -6, 3, 2, 3, 4, 7, 3, 4, 3, 2, 1, 2, 4, 5, -2, -9, -5, -5, 13, -12, -2, -1, -1, 2, 2, 2, -7, -19, 0, -6, 5, 4, 4, 4, -4, -2, -1, 2, -6, 7, -2, 1, 0, -5, -6, 5, -5, 5, -2, 4, -3, 5, 0, 8, 1, 7, 1, 0, 6, 7, -19, 2, 5, 1, -4, 1, -3, 4, 5, 0, 1, 0, 4, -4, 0, 2, -5, 1, -1, 5, -4, 5, 2, -5, 4, -1, 10, -1, 1, 3, -5, 0, -3, 6, -1, 7, 2, 43, 1, 1, 0, -2, 0, -6, -6, -3, -3, 3, -3, -1, 4, -3, 2, 1, 3, -4, 7, -5, -7, 0, 6, 3, -11, -7, -2, 14, 1, 1, 2, -8, -6, 2, 10, -1, 2, 2, 1, 9, -7, -3, -1, -6, -10, 16, 6, 3, 0, -2, -3, 3, 4, -11, -5, -6, 2, 4, -4, 1, -3, 5, -3, 15, -8, -4, 3, 3, 6, -3, -2, 5, -5, -1, 3, -3, -8, 1, -1, -1, 8, -3, -4, 3, 2, -2, -12, 1, -1, -2, -4, -7, -1, 6, -4, 2, 4, 6, -5, 0, 2, -5, -14, 6, -1, 3, 7, -3, 12, -3, 6, -1, -2, 3, -4, 1, 4, 8, 4, 3, -4, -4, -3, -39, -4, -1, 3, 7, -11, 7, -1, 3, 6, -3, -5, -4, -3, 1, -6, -2, 0, -7, 5, -8, 7, -3, -4, 7, 1, 20, -7, -3, 6, -1, -5, -7, -1, 6, 4, 4, 0, -2, -3, 1, -2, -1, 1, -9, 6, 4, 6, -4, 7, 5, -4, 11, 0, 4, -4, -4, 1, -9, 4, 2, 3, 3, -2, 5, -7, 2, -11, -5, 6, -5, 8, -2, -3, -2, 5, 1, -1, -5, 7, 12, -3, 5, 15, 0, 0, 8, -3, 2, 3, -8, 0, -10, -6, 7, -4, -36, 2, -9, 3, -1, -4, 1, 4, -5, -3, -3, 7, 3, 0, -1, 1, 9, -12, 11, 4, 0, 7, 24, -1, -7, 10, -3, -2, 3, -1, 5, -6, 5, -5, 3, 8, -5, 2, 0, -8, 1, -7, -4, 1, 8, -1, -5, -10, -5, 5, -7, -1, 2, 2, 2, -6, -6, 5, 4, -9, 0, 3, 2, 2, 6], "explanation": ["The efficient-market hypothesis (EMH) posits that asset prices incorporate all known information, making it impossible to consistently outperform the market through stock selection or market timing.", "The EMH suggests that since prices already reflect all available information, any new information would be quickly absorbed into asset prices, negating the potential for systematic gains.", "Research since the 1990s has focused on market anomalies, deviations from specific risk models, to test the validity of the EMH."], "example": "A company releases its earnings report. If the EMH holds true, the stock price will quickly adjust to reflect this new information, making it difficult for investors to gain an advantage.", "whyItMatters": "Understanding the EMH helps investors recognize the limitations of market timing and stock selection, guiding them towards risk-adjusted investment strategies.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Ball_brown_martineau_v2.png/1280px-Ball_brown_martineau_v2.png"}, {"id": "d2de655473e6", "title": "Financial market efficiency", "slug": "financial-market-efficiency", "headline": "Market efficiency measures how quickly prices reflect available information", "summary": "What the three forms of market efficiency are \u2014 weak, semi-strong, strong", "source": "What the three forms of market efficiency are \u2014 weak, semi-strong, strong", "sourceUrl": "https://en.wikipedia.org/wiki/Financial_market_efficiency", "articleUrl": "https://en.wikipedia.org/wiki/Financial_market_efficiency", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -8, 2, 9, 6, 4, 4, 5, 4, 5, 1, -1, 5, -1, 7, 0, -1, -6, -6, 0, 8, -13, -5, 4, 8, 0, -2, -2, -9, -17, 6, -5, 7, 3, -2, 0, -8, -2, 2, -4, -4, 7, -2, -4, -2, -6, -2, 1, -4, -1, 3, 0, 1, 2, 7, 5, 2, 4, -1, -3, 6, 6, -18, -4, 7, 3, -6, 1, -15, 5, -2, 2, 1, 3, 1, 1, 0, -1, -5, 1, 6, -1, -3, -1, -4, -6, 2, 0, 12, -5, 0, 5, -7, 4, 0, 0, 2, 8, -1, 42, 4, 5, 5, -3, 3, -4, -3, -3, -4, 7, -1, -1, -2, -5, 4, 2, -1, 0, 10, -6, -3, 1, 8, 4, -2, -5, 1, 14, 2, 6, 4, -2, -13, 3, 4, -3, -4, 0, 1, 6, -8, 1, 1, -9, -5, 22, 8, 2, -2, -3, -3, 4, 6, -14, -5, -5, 3, 3, 2, 2, -8, 2, -6, 14, -6, -5, 6, 2, -2, -1, -1, 8, -6, -4, 4, 0, -10, -4, 0, -3, 7, -1, -6, 2, -3, 0, -6, 2, 0, 8, -6, -8, -3, 5, -3, 3, 0, 2, -12, 3, 0, -4, -8, 7, 0, 5, 6, -3, 15, 1, 2, 5, -1, 5, -1, -2, 4, 5, -1, 2, -4, -1, -7, -35, -6, -3, 3, 9, -7, 7, 0, 6, 9, 0, -5, -5, 2, 10, -5, -3, 5, -8, 2, -3, 6, 2, -6, 9, 2, 16, -12, -1, -1, -3, -1, -9, 3, 4, 5, 3, -2, -9, 2, -3, -5, 8, 0, -3, 3, 4, -2, -3, 4, 2, -11, 4, -2, 5, -1, -4, 7, -7, 1, 1, 0, 4, 2, -4, -8, -1, -5, -11, 6, -5, 8, -6, -9, -1, 0, 0, 0, 1, 2, 11, 1, 5, 8, -2, -1, 6, -4, -2, 2, -9, 7, -7, -7, 7, -8, -36, 0, 1, 4, 4, 1, -2, -4, 0, -1, -5, 5, -3, -5, 0, 3, 11, -12, 10, 0, -2, 5, 24, 6, -6, 13, 0, -2, -3, -2, 9, -3, 8, -6, 8, 4, -3, -1, -2, 0, 4, -3, -4, 0, 6, -3, -4, -12, -4, 4, -10, 1, -2, 5, 2, -1, -3, 5, 4, -4, -2, -6, 2, -2, 8], "explanation": ["Market efficiency is categorized into three forms: weak, semi-strong, and strong. Weak-form efficiency posits that all past trading information is reflected in asset prices. Semi-strong-form efficiency suggests that asset prices reflect all publicly available information. Strong-form efficiency claims that asset prices reflect all information, both public and private."], "example": "In weak-form efficiency, technical analysis would not consistently outperform the market. In semi-strong-form efficiency, fundamental analysis would not consistently outperform the market. In strong-form efficiency, even insider information would not consistently outperform the market.", "whyItMatters": "Understanding these forms helps investors and analysts assess the potential for profit-making strategies and the effectiveness of different types of market analysis.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/5/56/Average_price_of_DDR5-5200_2x16_GB_RAM_kits.png/1280px-Average_price_of_DDR5-5200_2x16_GB_RAM_kits.png", "imageLicense": "CC0", "imageArtist": "Rei"}, {"id": "38260532f64b", "title": "the Capital Asset Pricing Model (CAPM) says", "slug": "the-capital-asset-pricing-model-capm-says", "headline": "Ever wondered why some investments seem riskier than others?", "summary": "What the Capital Asset Pricing Model (CAPM) says \u2014 expected return = Rf + \u03b2(Rm - Rf)", "source": "What the Capital Asset Pricing Model (CAPM) says \u2014 expected return = Rf + \u03b2(Rm - Rf)", "sourceUrl": "https://en.wikipedia.org/wiki/Capital_asset_pricing_model", "articleUrl": "https://en.wikipedia.org/wiki/Capital_asset_pricing_model", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [2, -3, -8, 7, 3, -3, 7, 8, 8, -6, 2, -6, -1, -1, 1, -1, -6, -9, -6, 5, 4, -8, 0, -6, 15, -5, -6, 1, -9, -23, 1, -2, 8, -4, -1, 5, -2, -4, 9, 6, -5, 1, 2, 0, 0, -4, 0, -5, -6, 2, 3, -2, 3, 2, 0, 7, 2, 7, 2, 8, -1, 5, -19, -1, 4, 7, -1, -2, -1, 6, 6, 3, -4, -2, -1, 1, -2, -1, -1, 2, -1, -2, -6, -4, -2, 0, 5, 3, 8, 0, -8, 6, -10, 2, 0, 10, 10, 8, -7, 48, 7, 1, 0, -4, -1, -3, -2, 3, 11, -6, 1, -1, 7, -8, -6, -5, 6, -2, 1, -6, -3, 3, 3, -1, -4, -5, 4, 8, 4, 1, -3, -3, -11, -4, 5, 2, -1, -3, 4, -2, 5, 4, -10, -2, -16, 13, 3, -3, -2, -1, -2, 4, 0, -6, 3, -6, 0, 2, 1, -1, -6, -5, -7, 15, -1, -3, -7, 2, 2, -7, 1, 0, -2, -6, 6, -2, -6, -10, -1, 1, -3, -5, 1, -2, 3, 2, -9, -5, -1, -6, -5, 1, 0, 7, -3, 4, 5, 3, 2, 0, -2, 6, 1, 0, -9, 4, 1, 0, 2, 2, 1, -1, 0, 4, -1, 1, 9, 5, 1, 4, 6, 5, -5, -42, 2, -5, -8, 5, -9, 3, 0, 2, -5, -1, -5, -5, -5, 3, -1, -11, -5, -2, 5, -7, 5, -5, -2, 8, 6, 9, -6, 2, 2, 5, 3, 4, 5, 3, -6, 6, 0, -5, 0, 0, -1, -3, 2, -6, 0, 1, 2, -9, 12, 0, 4, 5, 0, 7, -6, -10, -1, 3, 1, 5, 0, 5, -2, 3, -11, 4, -7, -8, 3, 1, 10, 0, -4, 2, 1, 1, 0, -6, 6, 8, -1, 3, 9, -2, -4, 7, -2, -4, 2, -10, -7, -9, -6, 1, -3, -36, 4, 4, 9, 1, -4, 3, 0, -5, 6, 1, 10, 7, 2, 0, -8, 8, -2, 4, 2, 4, 4, 21, 3, -11, 8, 2, 2, 13, 1, 2, -3, 9, 2, -2, 7, -2, 4, 2, 0, 7, 2, -4, 7, 8, -5, 3, 1, 0, -7, -4, 0, -5, -4, 9, 3, -3, -2, 0, -1, 4, 2, 0, 3, 5], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/f/ff/Stock_Market_April_5_2025_3_Months.png", "imageLicense": "Public domain", "explanation": ["Imagine you're planning a road trip with friends and need to decide between a scenic route and a direct highway. The scenic route is longer and more unpredictable, while the highway is shorter and more reliable.", "The scenic route (high-risk investment) might be more rewarding but comes with uncertainties. The highway (low-risk investment) offers a predictable journey. The capital asset pricing model (CAPM) helps investors figure out how much extra reward they should expect for taking on more risk."], "example": "If the scenic route (high-risk) promises a 20% reward for the extra risk, and the highway (low-risk) offers a 5% reward, investors can use CAPM to decide if the higher reward is worth the uncertainty.", "whyItMatters": "CAPM helps you balance the extra reward for taking on more risk."}, {"id": "79fb3649a6ad", "title": "Beta (finance)", "slug": "beta-finance", "headline": "Beta measures a stock's volatility relative to the market", "summary": "What beta measures in CAPM \u2014 a stock's volatility relative to the market", "source": "What beta measures in CAPM \u2014 a stock's volatility relative to the market", "sourceUrl": "https://en.wikipedia.org/wiki/Beta_(finance)", "articleUrl": "https://en.wikipedia.org/wiki/Beta_(finance)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-2, -7, -1, -3, 0, -1, 11, -2, 10, -1, 4, -5, 4, 3, 1, -1, 0, -2, -3, 6, 6, -9, 4, -5, 14, 4, 2, -1, -11, -24, 0, -2, 10, 2, 2, 5, -8, -4, 4, 0, -8, 5, -7, -1, -2, -15, 1, -7, -9, 4, 5, -2, 0, 7, 2, 6, 1, 6, 8, 2, 4, 2, -19, 1, 3, 5, -4, -3, -4, 7, 0, 2, -1, 4, -2, 2, -3, 0, -2, 1, -3, 3, -4, -6, 5, 0, 9, -2, 10, 0, -6, 2, -4, -1, 4, 4, 4, 3, -3, 48, 4, 3, -8, 0, 2, -4, -1, -1, 5, 1, 2, -3, 7, -8, -8, -7, -2, -6, 6, -5, -4, -1, 5, -4, 0, -3, 3, 10, 3, -3, 1, 2, -9, -3, 6, 1, -4, -5, 0, 3, -4, -2, 2, -4, -9, 19, 3, -6, -3, -4, -9, 3, 0, -8, -2, 4, 4, 6, -4, 2, -10, -6, -7, 8, -1, -5, -2, 1, -4, -1, 4, -4, -1, -12, 6, 4, 2, -11, -3, 0, 4, -3, -3, 3, 3, 0, -8, -8, 1, -1, -5, -3, 0, 5, 3, 0, 4, 7, -6, 1, -1, 1, -4, 6, 0, 7, 3, -3, 8, 5, -4, 4, 0, 1, 2, 0, 1, 2, 1, 3, 2, 2, -3, -39, -8, -6, -4, 1, -6, 2, 0, 2, -3, 1, 0, 2, -5, 7, 1, 1, 1, -7, 2, -5, 1, -6, -4, 10, 5, 9, -3, 3, -1, -1, 5, 6, 2, 5, -9, -1, 3, -9, 0, -6, -8, 3, 0, -2, 2, 10, -2, -8, 5, 7, -5, 8, 2, 10, -4, -3, -6, -1, -3, 6, 2, 5, -3, -1, -6, 2, -6, -7, 3, -2, 11, -4, -2, -3, 2, 2, 3, -2, 5, 5, 3, 6, 7, -4, 4, 6, 1, 2, 1, -10, 4, -4, -10, 0, -2, -34, 1, 4, 7, 4, -9, 4, -3, -11, -2, -4, 5, 8, -5, -5, -4, 9, -6, 8, -6, 7, 6, 26, 2, -6, 5, 5, 2, 5, 4, 4, 0, 12, -3, 2, 10, -5, 6, 6, 0, 7, 3, -6, 4, 8, -4, 2, -4, 5, -5, -7, 2, 1, 2, 4, -2, -6, 0, 8, -3, 1, -2, -1, -3, 5], "explanation": ["Beta is a statistic that quantifies the expected change in an individual stock's price in relation to the overall market movements. It serves as an indicator of an asset's non-diversifiable risk, systematic risk, or market risk. Beta is not a measure of idiosyncratic risk, which is unique to a specific asset."], "example": "If a stock has a beta of 1.5, it means that for every 1% increase in the market, the stock's price is expected to increase by 1.5%. Conversely, if the market decreases by 1%, the stock's price is expected to decrease by 1.5%.", "whyItMatters": "Understanding beta helps investors assess the risk associated with a stock's price movements in relation to the market, aiding in portfolio diversification and risk management.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/New_York_Stock_Exchange_Facade_2015.jpg/1280px-New_York_Stock_Exchange_Facade_2015.jpg", "imageLicense": "CC BY 2.0", "imageArtist": "Jeffrey Zeldman from Manhattan, USA"}, {"id": "17716e541e20", "title": "Cronbach's alpha", "slug": "cronbach-s-alpha", "headline": "Cronbach's alpha (\u03b1) measures internal consistency", "summary": "What alpha measures \u2014 excess return above what CAPM predicts", "source": "What alpha measures \u2014 excess return above what CAPM predicts", "sourceUrl": "https://en.wikipedia.org/wiki/Cronbach%27s_alpha", "articleUrl": "https://en.wikipedia.org/wiki/Cronbach%27s_alpha", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, -11, -3, -1, -5, -2, 5, 4, 10, -9, 8, -2, 1, -2, 3, 5, -1, 1, -5, -1, 3, -9, 4, -7, 6, 6, 3, -7, -7, -28, -2, -1, 2, -3, 1, -1, -9, 1, 3, 5, -1, 7, -2, -3, -3, -12, 1, -3, -2, 5, -4, -3, 3, 4, 6, 10, 5, 7, 8, -1, 6, 4, -17, -2, 9, 9, -6, -3, -7, 4, -1, 1, 8, 0, 3, 4, -1, -1, -3, 1, 2, 3, -8, -3, 0, -5, 7, 1, 11, -4, 1, -1, -6, -2, 0, 7, 9, 8, -2, 46, 6, 5, -4, -4, 1, -6, 1, 2, 1, -1, 6, -3, 9, -12, -3, 0, 7, 0, 9, -5, 0, 5, 2, -5, -3, -4, 2, 13, 1, -3, 0, 0, -2, -1, 1, -2, 0, -1, 2, 8, -4, 1, -1, -6, -11, 20, 0, -1, 3, -3, -4, 0, 3, -10, -1, 0, -2, -2, -3, 2, -10, 1, -9, 15, -1, -1, -1, 3, -3, -3, 2, 0, 0, -5, 3, -5, -10, -7, -1, 3, 5, -5, -7, 5, 4, -3, 0, -4, 6, 1, 2, 3, 0, 2, 0, -4, 4, 4, -2, 0, -2, 1, -2, -2, -3, 11, 0, 3, 13, 2, -5, -1, 3, 3, 0, 1, 3, 7, 1, 7, 4, -1, -3, -40, 0, 2, -2, 6, -5, 9, 2, 6, 3, -7, 3, -4, 1, 3, 1, -5, 1, -6, 5, -3, 3, -3, -6, 6, 0, 10, -8, -7, -5, -6, 6, 4, -4, 4, 0, -1, -3, -4, -1, -1, -1, -2, 1, -5, 8, -3, -5, -15, 3, 5, -5, 0, -4, 2, -6, -5, 1, 0, -4, 5, 4, -3, -1, 6, -3, 4, 3, -2, 0, -2, 4, -2, -6, 5, -3, 0, -2, -3, 8, 7, -4, 14, 2, -1, -1, 4, -2, 6, 4, 1, 2, -9, -7, 3, 0, -36, -2, -6, 9, 3, 0, -1, -3, -8, -1, -7, 6, 4, -7, -6, -2, 9, -5, 7, -2, 3, 8, 24, 0, -2, 10, -1, -4, 8, -4, -2, -3, 7, -3, 3, 9, -9, 3, 3, -6, 8, 1, -3, -2, 12, 0, -5, 3, 1, -6, -3, -1, -2, -3, 5, 2, -9, 3, -3, -3, 1, 3, 2, 0, -4], "explanation": ["Cronbach's alpha (\u03b1) is a reliability coefficient used to assess the internal consistency of tests and measures. It quantifies how closely related a set of items are as a group."], "example": "In a survey measuring job satisfaction, Cronbach's alpha might be used to evaluate the consistency of responses across different questions related to job satisfaction.", "whyItMatters": "Understanding Cronbach's alpha helps ensure the reliability of psychological and educational assessments.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/3/37/Tokyo_Stock_Exchange_Main_Building_%281988%29.jpg/1280px-Tokyo_Stock_Exchange_Main_Building_%281988%29.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Kakidai"}, {"id": "4fc7b3df1ee4", "title": "Modern portfolio theory", "slug": "modern-portfolio-theory", "headline": "Modern Portfolio Theory (MPT) maximizes expected return for a given level of risk through diversification", "summary": "What Modern Portfolio Theory says \u2014 diversification reduces risk without reducing expected return", "source": "What Modern Portfolio Theory says \u2014 diversification reduces risk without reducing expected return", "sourceUrl": "https://en.wikipedia.org/wiki/Modern_portfolio_theory", "articleUrl": "https://en.wikipedia.org/wiki/Modern_portfolio_theory", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, 3, -2, 5, 1, -3, 5, 10, 10, -10, 9, -5, -4, 4, 8, -1, 3, 0, -3, 8, 13, -13, -8, -7, 14, -4, -1, -1, -3, -21, -1, -5, -2, -2, 4, 9, -3, -6, -4, 15, -9, 10, -3, -7, 4, -2, -2, -4, -6, 0, 2, -3, -7, -2, 1, 8, 5, 7, -3, 6, 6, 11, -21, 1, 4, 5, -4, 2, 1, 1, -3, 6, -3, 7, 4, -1, 0, -5, -2, 1, 5, -1, -5, -11, -1, -2, 3, -5, 11, -2, -1, 2, -2, -7, -1, 5, 5, 5, 1, 46, 0, 5, 3, 4, 1, -1, -2, 4, 6, -2, 0, 1, 10, -2, -2, 0, -1, 2, 11, 3, -3, 2, 4, -1, -6, -1, 2, 11, 3, 0, 0, 3, -16, 0, 4, -3, -3, 1, 5, 4, 3, 10, -5, -1, -4, 16, 8, -2, -4, 1, -1, -4, -5, -6, 2, -1, -3, -2, -3, -1, -11, -1, -12, 13, 0, -4, -4, -3, 2, -7, -8, 1, 7, -2, 3, -4, -10, -4, -2, 1, 3, -5, -5, 4, 1, 0, -1, 1, 0, 1, -3, 2, -6, 2, -2, 1, -2, 4, 0, 3, -7, -1, -1, 4, -3, 8, 2, -8, 6, 2, 3, -5, 5, 6, 4, 3, 8, 5, 4, -2, 6, 1, -7, -37, -5, -7, -5, 8, -11, -4, -6, -4, -5, 1, -4, -5, -3, 6, -2, -11, -4, -9, -1, -4, 3, 0, -8, 15, 2, 9, -10, 0, 10, 8, 5, -1, -2, 6, -3, 8, -6, -12, 3, 3, 6, -1, 2, -8, -2, 1, 11, 1, 8, 2, -1, -1, -4, 1, -8, -6, -3, -2, 2, 1, 1, -2, -2, -3, -7, 5, -9, -5, 2, -3, 5, 0, -10, -3, 8, 8, 2, -9, -1, 5, 1, 7, 6, -2, 0, 8, -5, -5, 1, -5, -1, -11, -2, -3, -4, -31, 2, 1, 0, 3, 3, 4, -2, -7, 6, 0, 7, 8, 3, -2, -2, 7, -1, 6, 4, -2, 3, 22, 1, -5, -1, -4, -3, 5, -1, 5, -2, 6, -5, 0, 5, 1, 1, 5, -3, 3, -3, 1, -3, 11, 0, 3, -7, -9, 5, 0, 7, -3, -8, -1, -1, -4, 2, 1, 0, 6, 6, -5, 1, 5], "explanation": ["Modern Portfolio Theory (MPT) is a mathematical framework that optimizes a portfolio's expected return for a given level of risk. It emphasizes that an asset's risk and return should be evaluated in the context of its contribution to the overall risk and return of the portfolio. By combining assets with varying risk profiles, MPT aims to achieve a balance that maximizes returns while minimizing risk.", "The variance of an asset's return is used as a measure of risk, and MPT relies on historical variance and covariance of returns as a proxy for forward-looking risk assessments. This approach allows investors to construct portfolios that are less risky than holding individual assets. Diversification, the core principle of MPT, reduces unsystematic risk by spreading investments across different asset classes and sectors.", "Economist Harry Markowitz introduced MPT in a 1952 paper, earning him the Nobel Memorial Prize in Economic Sciences. His work formalized the concept of diversification and established a systematic approach to portfolio construction. MPT's insights have had a profound impact on investment strategies and financial planning."], "example": "An investor holding a portfolio consisting of stocks, bonds, and real estate can reduce risk through diversification. If the stock market experiences a downturn, the bonds and real estate assets may still perform well, balancing the overall risk of the portfolio.", "whyItMatters": "Understanding MPT helps investors make informed decisions about asset allocation, ultimately leading to more effective risk management and potential returns.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/Asset_Allocation.pdf/page1-500px-Asset_Allocation.pdf.jpg"}, {"id": "9c845f0191df", "title": "Efficient frontier", "slug": "efficient-frontier", "headline": "Efficient frontier maximizes return for a given risk level", "summary": "What the efficient frontier is \u2014 the set of portfolios with maximum return for each risk level", "source": "What the efficient frontier is \u2014 the set of portfolios with maximum return for each risk level", "sourceUrl": "https://en.wikipedia.org/wiki/Efficient_frontier", "articleUrl": "https://en.wikipedia.org/wiki/Efficient_frontier", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -4, -2, 8, -1, -3, 7, 7, 12, -3, 7, -2, 1, 1, -4, 2, 4, -2, -11, 5, 13, -7, -6, -7, 11, 4, -2, -5, 2, -23, 3, -6, -4, 2, -8, 4, -2, -3, 2, 0, -2, 7, -7, -9, -1, -6, -9, -7, -10, 2, 3, -7, 4, 6, -2, 0, 5, 4, -4, 0, 4, 1, -17, -1, 2, 0, 0, 3, -1, 5, 2, 7, -2, -2, 2, 7, 3, -9, -8, 4, 2, -5, -3, -6, 9, -6, 1, -9, 15, 6, 1, -5, 2, -4, -2, -6, 8, 7, 3, 45, 5, 0, 0, 4, -1, -7, -2, 0, 4, -3, -4, -5, -4, -2, -4, -6, 0, 5, 8, -4, 2, 0, 1, 2, -8, 0, 3, 9, 5, 4, 3, 0, -9, -2, 7, 3, 3, 0, 3, 1, 1, 6, 1, -4, -4, 15, 4, 0, 1, -2, -2, -2, 4, -8, 1, -1, 3, 2, -3, -6, -14, -1, -11, 18, -5, -6, -3, 6, -4, -2, 2, 4, 2, 2, 3, -2, -16, -12, -4, 4, 8, -5, -9, 3, 0, 4, -5, 3, 0, -1, -8, -6, -3, 0, -1, -1, 5, 10, 6, 4, 5, 0, 1, 2, -7, 2, -4, -5, 8, 3, 2, -2, 4, 3, -2, 4, 3, 7, -3, 1, 10, -6, -2, -39, -6, -6, -7, 2, -2, 2, 1, -3, 4, 1, -2, -4, -1, 6, -2, -9, -1, -5, -2, 2, 6, 1, -3, 5, 3, 13, -12, -4, -6, 0, -5, -2, 4, 7, -5, 9, 0, -2, -3, 4, 0, -5, -3, -4, 1, -5, 4, 2, 6, 3, 1, 2, 4, 11, -10, -6, 5, -2, 7, 5, 3, 2, -1, 1, -6, 13, -8, -9, -6, -3, 4, -2, -5, -4, 1, 3, 12, -2, 2, 14, -3, 10, 9, -3, -3, 6, 2, -4, 2, -6, -5, -7, 1, 2, -2, -33, 4, -4, -3, 8, -3, 3, -2, -3, 7, 4, 2, 2, -1, 1, -4, 11, -4, 10, 4, 4, 3, 19, 0, -4, 4, -6, -4, 8, 2, 11, -2, 2, -6, 4, 3, 0, 1, 4, -2, 5, -5, -5, 3, 6, -2, 0, -6, -7, 1, -3, 5, -3, -4, 4, 3, -2, 3, 0, -5, 0, 4, 1, 2, 0], "explanation": ["The efficient frontier represents the optimal set of investment portfolios. Each point on this frontier offers the highest expected return for a specific level of risk. Investors aim to select portfolios that lie on this frontier to achieve the best possible risk-adjusted returns."], "example": "Suppose an investor chooses a portfolio on the efficient frontier with a standard deviation of 10%. This portfolio provides the highest expected return among all portfolios with the same level of risk (standard deviation).", "whyItMatters": "Understanding the efficient frontier helps investors make informed decisions, optimizing their portfolios for maximum return per unit of risk.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/e/e1/Markowitz_frontier.jpg"}, {"id": "0f893be6b7e3", "title": "Sharpe ratio", "slug": "sharpe-ratio", "headline": "Sharpe ratio measures excess return per unit of risk: (R - Rf) / \u03c3", "summary": "What the Sharpe ratio measures \u2014 excess return per unit of risk: (R - Rf) / \u03c3", "source": "What the Sharpe ratio measures \u2014 excess return per unit of risk: (R - Rf) / \u03c3", "sourceUrl": "https://en.wikipedia.org/wiki/Sharpe_ratio", "articleUrl": "https://en.wikipedia.org/wiki/Sharpe_ratio", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -9, -2, 3, 2, -11, 8, 2, 10, -7, 6, -7, 1, 1, 3, 0, 2, 2, -5, 3, 3, -1, 1, -4, 13, 8, -4, -9, -6, -26, 5, 0, 3, -7, -8, -5, -1, -4, 2, 7, -3, 6, -6, 5, -3, -4, -2, -2, -2, 5, 4, -7, 3, 4, 5, 3, 8, 10, 1, 3, 3, 3, -20, -8, 5, 3, -6, -5, -5, 2, -7, 0, -6, 0, -2, 0, 2, -6, -5, 8, 1, 5, -8, 2, 4, -8, 6, -7, 13, 0, -2, -4, -3, 2, -1, 2, 5, 3, 0, 41, 7, -1, -3, 10, -6, -6, 2, 4, 1, -5, 8, 2, 1, -6, 1, -6, 3, 5, 8, -9, -1, 5, 4, 1, 1, 3, 12, 11, 1, 4, -2, -4, -11, 5, -1, 3, 2, -3, 10, 5, 4, -4, 1, 2, -6, 9, -6, 5, 6, -3, 0, 6, 0, -6, -1, 1, -6, -4, 7, -2, -9, -7, -2, 11, -3, -3, 1, 4, -12, -9, 5, -2, -3, -5, 5, 6, -10, -11, -3, 2, 0, -2, 0, -2, 5, 5, -10, -7, 2, -4, -3, 2, -4, -2, 5, 3, 3, 4, -5, 0, 5, 0, -1, 1, -2, 6, -1, -4, -3, 5, 3, 5, 4, 2, -1, 1, 1, 7, -2, -1, 6, -7, -1, -37, -2, 2, -4, 9, -1, 5, -2, 1, 5, -1, 3, -11, -4, 3, 3, -6, -7, -6, 4, 10, 7, -4, -4, 7, -3, 11, -7, -4, -2, -1, 0, 2, 6, 8, -1, -2, 7, -9, -7, -2, -2, -7, 0, 2, 2, -3, 3, 1, 6, 2, -4, -1, 7, 10, -4, -9, -2, -6, -8, 9, 0, 2, -7, 2, -2, 1, -3, -9, 8, 1, 7, -3, -8, -3, -4, 2, 0, -5, 5, 6, 1, 3, 8, 7, -8, 6, 2, 2, 0, -5, -6, -8, -4, 2, 0, -35, 0, 1, 10, 6, -2, 9, -2, -7, 0, -2, 9, 8, -5, 6, -4, 9, -5, 9, 0, 2, 0, 18, 4, -10, 3, 1, -5, 9, 1, 11, 0, 2, -3, 7, 9, -1, 2, -1, -2, 10, 0, -5, 4, 15, 3, -3, -11, 5, -7, -5, 1, -2, 3, 1, -2, -12, 0, 1, -7, -4, -1, 2, 2, 2], "explanation": ["The Sharpe ratio quantifies the excess return of an investment compared to a risk-free asset, adjusted for risk. It is a key metric in finance for evaluating investment performance.", "The Sharpe ratio is calculated by taking the difference between the investment's return and the risk-free return, then dividing by the standard deviation of the investment's returns. This formula highlights the trade-off between risk and return.", "Developed by William F. Sharpe in 1966, the Sharpe ratio has become a fundamental tool for investors to assess the risk-adjusted performance of their portfolios."], "example": "If an investment has a return of 12%, a risk-free rate of 3%, and a standard deviation of 5%, the Sharpe ratio would be (12% - 3%) / 5% = 1.8.", "whyItMatters": "Understanding the Sharpe ratio helps investors make informed decisions by comparing the risk-adjusted returns of different investments.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/0/0e/Chicago_bot.jpg", "imageLicense": "Public domain", "imageArtist": "Jeremy Kemp (moved from en:Image:Chicago bot.jpg on the English Wikipedia). en:Image:Chicago bot.jpg"}, {"id": "54b1b8e1c916", "title": "Bias ratio", "slug": "bias-ratio", "headline": "Bias ratio detects valuation bias in asset pricing", "summary": "What the Sortino ratio improves over Sharpe \u2014 only penalizes downside volatility", "source": "What the Sortino ratio improves over Sharpe \u2014 only penalizes downside volatility", "sourceUrl": "https://en.wikipedia.org/wiki/Bias_ratio", "articleUrl": "https://en.wikipedia.org/wiki/Bias_ratio", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-2, -7, -10, 0, 1, 1, 5, -3, 8, 1, 3, -3, 10, 9, 0, -3, -3, 0, -7, 6, 1, -6, 3, -2, 4, -2, 0, -3, -16, -25, 3, 0, 8, -4, 1, 3, -9, 2, 0, 1, -6, 3, -3, -3, 0, -4, -4, -2, -7, 3, -2, -5, 2, 3, -3, 13, 7, 8, -2, 8, 6, 3, -14, 1, 5, 2, -5, -2, -10, 0, 1, 2, -2, 0, -2, -3, 3, 1, 3, -5, 2, 5, -4, 2, 3, -3, 6, -1, 7, -1, 1, 1, 0, -3, 5, -1, 1, 2, -3, 46, 6, 4, -2, 3, -4, -3, 0, -5, 2, -6, 2, 2, 4, -5, -3, 4, 2, -1, 9, -7, -10, 3, 5, 2, -4, -11, 1, 14, 4, -4, -2, -8, -13, -3, 2, 4, -1, 4, -1, 6, -9, -1, -3, -4, -7, 16, 1, -2, 2, 0, -4, 0, -7, -11, 3, 0, -7, 3, -5, 4, -9, -4, -6, 14, -5, -5, -1, 5, -4, 5, 4, -2, -1, -2, 4, -1, -6, -7, -6, 1, 4, -3, -3, 6, 2, -3, -7, -8, 4, 2, -9, -3, -2, 8, -1, -2, -3, 10, -7, 8, 1, 1, -7, -1, -1, 6, -1, -2, 11, -1, 3, 1, 6, 7, 0, 7, 5, 9, 5, 1, 1, 2, -2, -34, -5, -5, -1, 9, -9, 3, -2, 4, 5, -4, -5, -1, -6, 1, -1, -4, 1, -8, 3, 0, 8, -4, -6, 15, 1, 14, -7, 2, 1, 0, 2, 4, 6, 10, 2, 8, -6, -10, 0, 0, -5, 3, -2, -3, -1, -1, 8, 1, 9, 7, -4, 10, 3, 10, -6, -5, -4, -1, -1, 3, -11, 3, -3, -1, -5, 8, -5, -2, 7, -4, 5, -4, 1, -2, 4, 4, -1, -4, 3, 11, -2, 2, 2, -1, -4, 6, -4, 3, 4, -9, -1, -9, -8, 1, -2, -31, 4, 0, 2, 4, 1, 6, -5, -3, -2, -7, 13, 9, -4, 1, -6, 3, -8, 13, 0, 1, 2, 26, -4, -9, -1, -1, -5, 4, 3, 2, 0, 7, -3, -1, 7, -6, 2, 3, 4, 4, 3, 2, -1, 14, 3, -3, -7, 3, -2, -4, 2, 1, -1, -2, -3, -4, 4, 7, -8, 1, -2, 1, -4, 8], "explanation": ["The bias ratio is a financial metric designed to uncover valuation bias or deliberate price manipulation in investment portfolios managed by hedge funds, mutual funds, or similar entities. It does so by measuring deviations from an unbiased distribution of returns, which can indicate subjective pricing of assets. This metric is particularly useful for identifying the presence of illiquid securities that may not be expected in a given portfolio."], "example": "A hedge fund's bias ratio significantly higher than 1 suggests the use of subjective pricing for illiquid assets, potentially indicating valuation bias.", "whyItMatters": "Understanding the bias ratio is crucial for investors and analysts to detect potential manipulation or bias in asset pricing, ensuring more accurate and fair valuation of investment portfolios.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/4/49/SGX_Centre%2C_Singapore_-_20121015.jpg/960px-SGX_Centre%2C_Singapore_-_20121015.jpg", "imageLicense": "CC BY-SA 2.0", "imageArtist": "Nicolas Lannuzel."}, {"id": "73e567e0dc18", "title": "Treynor ratio", "slug": "treynor-ratio", "headline": "Treynor ratio measures excess return per unit of systematic risk", "summary": "What the Treynor ratio measures \u2014 excess return per unit of systematic risk", "source": "What the Treynor ratio measures \u2014 excess return per unit of systematic risk", "sourceUrl": "https://en.wikipedia.org/wiki/Treynor_ratio", "articleUrl": "https://en.wikipedia.org/wiki/Treynor_ratio", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -6, -3, -1, 7, -5, 8, 0, 8, -3, 0, -4, 1, 5, 0, 2, -1, -1, -2, 5, 4, -6, 5, 0, 8, 2, -2, -4, -9, -28, 7, -4, 5, 0, 0, 7, -7, -1, 3, 8, -3, 7, -6, -1, -1, -6, -1, -4, -2, 1, 2, -4, 4, 10, 5, 1, 6, 10, -1, 4, 2, 2, -20, -3, 5, 3, -9, -6, -6, 4, -5, 1, 3, 2, -1, 2, -1, -1, -1, 3, 1, 5, 2, 0, 1, -6, 8, -5, 7, 2, 4, 6, -5, -1, 3, 3, 7, -2, 1, 50, 3, 1, 2, 4, 1, 0, 1, 0, 4, -4, 7, 0, 2, -12, -6, 0, 0, 0, 10, -9, -2, 4, -2, 2, -2, -2, 2, 15, 6, 2, -2, 2, -8, 6, 5, -4, 1, 0, 1, 4, 1, -3, 4, -3, -7, 15, -2, -2, 5, -4, -1, -1, -3, -12, -2, 5, -2, 2, -1, 3, -10, -5, -8, 12, -1, -4, 1, 7, -9, -5, 4, 2, 1, -3, 7, 2, -7, -12, 3, 3, 2, 1, -3, 3, 1, -1, -7, -3, -1, 2, -5, -4, -2, -5, 4, -2, -1, 3, -4, -1, 6, -4, -3, 0, -1, 8, 2, -5, 5, 6, -2, 0, 8, 8, 4, 0, -3, 10, -1, -1, 3, -1, -1, -40, -3, -3, -6, 6, -1, 4, -7, 0, 5, 1, 5, -1, 3, 1, 6, -11, -9, -8, 7, 1, 6, -4, -2, 5, 0, 12, -7, 5, 1, -4, 5, 3, 4, 12, -3, 3, 1, -13, -12, -3, -4, -3, 1, -7, 1, 2, 9, -12, 11, 6, -1, 6, 2, 7, -4, -4, -6, -4, -1, 2, -6, 1, -7, 1, -10, 4, 2, -4, 4, -2, 10, -9, -8, -4, 1, 5, -7, -7, 2, 2, -2, 5, 8, -5, -2, 6, 6, 5, -2, -3, -4, -5, -5, 1, 7, -35, 5, -4, 8, 3, -3, 3, -2, -6, -1, -1, 6, 11, -4, -1, -5, 4, -8, 10, -2, 1, 1, 21, -4, -5, 5, -1, 0, 3, 1, 5, 0, 4, -3, 3, 8, -2, 0, 1, -4, 3, -3, 0, 4, 13, 2, -2, -8, 0, 2, -5, 3, 1, 4, 3, -3, -9, 1, -3, -6, -1, -5, -2, -1, 1], "explanation": ["The Treynor ratio is a financial metric used to evaluate the performance of an investment portfolio by comparing excess returns to the systematic risk taken. Systematic risk refers to the market-wide risk that cannot be eliminated through diversification. This ratio helps investors understand how much excess return they are earning for each unit of systematic risk they are assuming.", "The Treynor ratio is calculated by taking the difference between the portfolio's return and the risk-free rate, then dividing that by the portfolio's beta (a measure of systematic risk). A higher Treynor ratio indicates better performance, as it means the portfolio is generating more excess return for each unit of systematic risk compared to other investments."], "example": "Suppose a portfolio has an excess return of 8% over the risk-free rate and a beta of 1.2. The Treynor ratio would be calculated as 8% / 1.2 = 6.67%. This means the portfolio is earning 6.67% excess return for each unit of systematic risk taken.", "whyItMatters": "Understanding the Treynor ratio helps investors make informed decisions about the risk-adjusted performance of their portfolios.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Assorted_United_States_coins.jpg/1280px-Assorted_United_States_coins.jpg", "imageLicense": "Public domain", "imageArtist": "Elembis"}, {"id": "bb3e87402388", "title": "Systematic", "slug": "systematic", "headline": "Systematic risk affects the entire market", "summary": "What systematic vs unsystematic risk means \u2014 market risk vs company-specific risk", "source": "What systematic vs unsystematic risk means \u2014 market risk vs company-specific risk", "sourceUrl": "https://en.wikipedia.org/wiki/Systematic", "articleUrl": "https://en.wikipedia.org/wiki/Systematic", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [8, -5, -5, -1, 5, -3, 6, 3, 2, -2, 6, 4, 0, 0, -2, 0, -4, -4, -3, 6, 10, -9, 2, -1, 2, 2, 0, 5, -5, -21, 1, 1, 2, -2, 6, -2, -10, 3, 8, 0, -14, 3, 3, -3, -6, -6, 6, 2, -10, 1, -5, 1, 5, 7, -3, 4, 9, 4, 0, 8, 4, -1, -22, 7, 4, 10, -12, 5, 4, 6, 0, 1, -1, 5, 3, 2, 0, -7, -1, 2, 5, 2, -10, -5, -2, -3, 9, -5, 9, -1, 5, 3, -4, -5, 3, -2, 5, 1, -1, 47, 0, 3, -4, 4, 6, -3, -6, -8, 1, -1, 2, 5, 2, -8, -5, -2, -1, 0, 7, 0, -6, 9, 6, 4, -3, 0, 0, 10, 5, -5, 8, -2, -2, 6, 7, 2, -11, 8, 2, 5, -5, -3, -1, -7, -8, 17, 4, 3, -4, 2, -2, 7, 1, -2, -4, 4, 1, -1, -4, -10, -8, -2, -6, 16, -2, -4, 0, 4, -8, -3, -7, 5, 2, -8, -5, 1, -3, -6, -4, -2, 7, 2, -4, 5, 0, 0, -7, -2, 1, 1, -7, 0, -5, -1, 0, 6, -4, 0, -2, -9, 2, 4, -6, -1, -1, 6, 4, -4, 5, 1, -3, -6, 3, 13, 1, -1, 1, 7, 5, 1, 3, 5, 1, -37, -7, -4, -3, -1, 3, -10, -6, -4, 4, 6, 2, -4, 1, 1, 6, -11, -8, -8, 6, -4, 3, -3, -8, 7, 0, 16, -4, 1, 3, -4, -2, 0, -1, 10, -4, 4, -2, -10, -9, -5, -5, 2, 9, 1, -8, 4, 4, -5, 11, -2, 0, 7, 4, 4, -2, -4, 1, 0, -1, 6, 3, 6, -4, 0, -8, 2, -2, 0, -1, -8, 17, -4, -9, -1, 4, -1, -2, -7, 1, 0, 1, 10, 9, 3, -2, 5, -1, -2, -3, -6, -4, -10, -6, 3, 0, -28, 1, 0, 3, -2, -6, 0, -4, -2, 8, -4, 4, 9, -3, -1, -1, 11, -3, 9, -9, 2, 9, 22, 3, -4, 2, -2, 7, 0, 5, 7, 0, 1, -6, 4, 1, -3, 1, 6, -2, -1, -2, 4, 2, 10, 0, 1, -10, -3, 4, -7, -2, -2, 6, 0, -9, -3, -2, 1, -4, 3, 6, -9, 2, 4], "explanation": ["Systematic risk, also known as market risk, impacts the overall market and cannot be eliminated through diversification. It includes factors like economic recessions, political instability, and changes in interest rates. These risks affect all companies and are inherent to the entire market."], "example": "During an economic recession, all companies in the market experience reduced profits due to decreased consumer spending.", "whyItMatters": "Understanding systematic risk is crucial for investors to manage market-wide uncertainties and make informed decisions.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/3/39/Claude_Dauphin%2C_CEO_Trafigura.jpg/1280px-Claude_Dauphin%2C_CEO_Trafigura.jpg", "imageLicense": "CC BY-SA 3.0", "imageArtist": "Rory Lindsay"}, {"id": "fecbec408fae", "title": "the Black-Scholes formula prices", "slug": "the-black-scholes-formula-prices", "headline": "How do you price a gamble on a stock's future price?", "summary": "What the Black-Scholes formula prices \u2014 European call and put options", "source": "What the Black-Scholes formula prices \u2014 European call and put options", "sourceUrl": "https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_equation", "articleUrl": "https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_equation", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [-6, -5, -4, 0, -8, 2, 2, 2, 9, -1, 1, 4, -5, 3, -5, 0, -11, -7, -7, 2, 6, -11, -5, -4, 8, -4, 3, 0, -9, -24, 5, -1, -1, -5, -6, 4, -10, 3, 1, 2, -2, 0, -1, -3, 4, -3, 4, -2, -4, 5, 5, 4, 2, -5, -1, 0, 8, 2, 2, 10, -1, 0, -15, 6, -7, 0, -6, 0, 0, 11, 0, -3, 3, 9, 5, -2, -1, 0, -3, 5, 0, 4, -6, -6, 1, -2, 7, 7, 11, 3, 4, 2, -7, -1, -3, 0, 4, -1, -6, 47, 2, 6, -7, 1, -5, -7, -11, 3, 5, -3, 0, 1, 5, -6, -5, 3, -4, -5, 9, -1, -2, 5, 6, 4, 1, -4, 1, 12, -3, 0, 3, -7, -10, 2, 2, -4, -4, 4, -1, -1, -4, -5, -4, -2, 2, 9, 3, -3, -3, 0, -9, -3, 4, -2, 3, -1, 0, 4, -6, -2, -11, -6, -5, 21, -2, -9, -7, -4, -2, -8, -3, 3, -2, -4, 8, 3, -6, -13, -3, -2, 1, 1, -2, 4, -2, -2, -7, -5, -6, 3, -2, -5, -9, 6, -5, 0, -8, 7, 2, 0, 2, -5, -7, 6, 5, 6, 6, -3, 9, -1, 0, 5, 8, 6, -6, -3, 1, 2, -2, -3, 5, -3, 6, -37, -6, -5, -2, 3, -2, 4, -3, 2, 6, 4, -8, 2, -5, 2, -4, -7, -8, -4, 7, -12, 3, -6, -3, 11, 4, 12, -3, 6, -1, 5, -5, 3, 10, 1, -1, 13, 4, -3, -4, 2, 3, -1, -4, -3, 4, 3, 1, -5, 7, 6, 4, 5, -1, 15, -6, 3, 2, 7, 0, -1, 0, 7, -3, 6, -7, 7, -10, 2, -1, -3, 11, 0, 3, 4, 5, 9, -1, -2, 9, 4, -2, 3, 9, -2, 0, 6, -3, 4, 2, -9, 2, -6, 4, -1, 3, -32, 2, -2, 8, 4, -5, 4, -7, -10, 5, -5, -2, 5, 2, -2, -5, 11, -9, 5, 7, 3, 3, 23, 1, 3, 6, 2, 2, 3, 2, 4, -2, -1, -8, 5, -9, -3, 5, 3, -2, 6, -2, 3, 2, 8, 0, -1, -4, 6, -4, -6, -3, 5, -9, -2, 8, 1, 2, -1, 1, -1, -2, 6, 1, 6], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/d/d9/Jiao_zi.jpg", "imageLicense": "Public domain", "imageArtist": "Unknown authorUnknown author", "explanation": ["Imagine you're betting on the price of a stock in the future. You want to know how much to pay now for the chance to win big later.", "Think of a stock's future price as a risky bet. The Black-Scholes formula helps you figure out the fair price to pay for that bet, considering how risky it is and how much time until you win or lose."], "example": "If you think a stock will be worth $100 in a year and there's a 50% chance it will be that way, the Black-Scholes formula helps you decide how much to pay for that chance now.", "whyItMatters": "The Black-Scholes formula gives you a fair price to pay for betting on a stock's future price."}, {"id": "784c3c43c93d", "title": "Greeks (finance)", "slug": "greeks-finance", "headline": "Greeks measure sensitivity of option prices to underlying parameters", "summary": "What the Greeks (Delta, Gamma, Theta, Vega) measure in options pricing", "source": "What the Greeks (Delta, Gamma, Theta, Vega) measure in options pricing", "sourceUrl": "https://en.wikipedia.org/wiki/Greeks_(finance)", "articleUrl": "https://en.wikipedia.org/wiki/Greeks_(finance)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-5, -11, 1, 3, -7, -2, 9, 8, 6, -3, 3, 0, -2, 6, 2, -1, -8, -1, -8, 3, 9, -13, 1, -10, 8, 1, 2, -4, -8, -21, 3, -3, 4, -9, -6, 8, -8, -1, 2, 0, -1, -3, -6, -3, -1, -9, 2, -6, -11, 9, -1, 4, 6, 3, 5, 6, 6, 7, 2, 4, 0, 1, -17, 2, 0, 5, -3, 0, -7, 6, -1, 2, 4, 4, 0, 1, 1, -5, -5, 1, 4, 1, -7, -1, 1, 1, 12, 5, 10, -1, 0, -3, -5, -1, 5, 8, 6, 0, -2, 45, 4, 8, -1, -3, 0, -5, -1, -6, 2, -2, -3, -8, 6, -7, -4, -1, -2, -4, 9, -5, -8, 2, 4, 0, 0, -1, 0, 7, 2, -1, 9, -5, -4, 2, 4, 1, -3, 1, -1, 10, -11, -3, 2, -3, -8, 17, 2, -2, -5, 2, -6, 3, -3, -7, -1, 0, -1, 5, -8, -1, -5, 1, -9, 22, 1, -7, -2, 1, -3, 3, 2, 6, 5, -7, 6, 4, -2, -10, -2, 1, 5, -1, -7, -2, -2, 2, -9, -8, 0, 2, -4, -3, -5, 7, -3, -1, 1, 5, -7, 3, 1, 3, -1, 3, 0, 5, 3, 3, 10, -1, -2, 4, 1, 2, -6, 7, -1, 5, 0, 0, 1, 2, 0, -42, -2, -7, 1, 4, -8, 2, -5, 5, 6, 1, -1, -4, -4, 3, -3, -4, 2, -3, 3, -8, 4, -5, -8, 8, 4, 14, -5, 2, -7, -3, 0, 1, 7, 7, 4, 4, 3, -1, -3, -3, -2, -1, -2, -1, -3, 8, -1, -6, 5, 1, -1, 8, -6, 11, -6, -1, 3, 6, 1, 0, 3, 3, -4, 1, -12, 0, -4, -4, -1, -1, 7, -2, -3, 2, -2, 3, -1, 2, 7, 7, 2, 4, 2, -4, 5, 10, 2, 4, -1, -8, 1, -6, -5, 6, -1, -38, 6, -2, 2, 3, 3, 3, -6, -9, -1, -8, 10, 7, -6, 1, -3, 5, -7, 7, 0, 6, 2, 28, -1, -4, 2, 3, 0, 4, -3, -1, -1, 4, -9, 6, 11, -1, 0, 0, 1, 10, -1, 3, -2, 7, 2, -3, 0, 3, -3, 1, 2, 1, 0, 5, 4, -9, -1, -1, -6, 0, -1, 2, -5, 3], "explanation": ["The Greeks are mathematical measures used in finance to quantify the sensitivity of an option's price to various factors. These measures help traders and investors understand how changes in underlying parameters, such as stock price, volatility, or time to expiration, affect the value of an option.", "The Greeks are denoted by Greek letters: Delta measures the sensitivity of an option's price to changes in the underlying asset's price. Gamma measures the rate of change of Delta with respect to changes in the underlying asset's price. Theta measures the sensitivity of an option's price to the passage of time, also known as time decay. Vega measures the sensitivity of an option's price to changes in the underlying asset's volatility."], "example": "If an option has a Delta of 0.5, a $1 increase in the underlying asset's price will result in a $0.50 increase in the option's price. If the Gamma is 0.02, a $1 increase in the underlying asset's price will result in a $0.02 increase in Delta. If Theta is -0.05, a $1 decrease in time to expiration will result in a $0.05 decrease in the option's price. If Vega is 0.1, a 1% increase in volatility will result in a $0.10 increase in the option's price.", "whyItMatters": "Understanding the Greeks is crucial for managing risk and making informed trading decisions in options markets. They provide valuable insights into how different factors impact an option's price, allowing traders to hedge effectively and optimize their strategies.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Tokyo_Stock_Exchange_Main_Building_%281988%29_2.jpg/1280px-Tokyo_Stock_Exchange_Main_Building_%281988%29_2.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Kakidai"}, {"id": "084a07f265a2", "title": "implied volatility tells you", "slug": "implied-volatility-tells-you", "headline": "Ever wondered how traders predict stock swings?", "summary": "What implied volatility tells you \u2014 the market's expectation of future price movement", "source": "What implied volatility tells you \u2014 the market's expectation of future price movement", "sourceUrl": "https://en.wikipedia.org/wiki/Implied_volatility", "articleUrl": "https://en.wikipedia.org/wiki/Implied_volatility", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -10, 0, 5, 5, 6, 6, -2, 9, 0, 5, 3, -3, -3, 1, 3, -5, -5, -7, 5, 7, -3, 0, -4, 4, 3, 3, -2, -7, -18, 3, -8, 3, 1, 0, 2, -2, 3, 2, 3, -9, 1, -3, -3, 4, -7, 1, 0, -9, 3, -5, -2, 5, 3, 0, 9, 0, 1, 6, 4, 6, 5, -15, 3, 3, 0, -2, -2, -4, 12, 1, -2, -5, 5, 8, -3, 1, 5, -4, -4, 1, 6, -8, -6, -2, 0, 10, -2, 8, 2, -5, 0, -7, -3, -4, 10, 2, 5, -3, 45, 0, 4, 2, 7, -3, -6, -6, 3, 1, -4, -3, -2, 1, -5, -1, 2, 3, 0, 6, 0, -3, 4, 6, 1, -4, -7, -3, 16, -2, -8, 3, -4, -7, 6, 8, 0, -1, -1, 4, 2, -6, -3, -2, -6, -13, 9, 7, -2, 0, -3, -10, 3, -7, -9, 0, 8, 0, 8, -6, -5, -9, -2, -11, 10, 1, -5, -2, 2, 6, -6, 6, 0, -2, -7, 5, 8, -4, -8, -2, -2, 7, -1, 0, 9, 0, 1, -9, -2, 0, -1, 0, -11, -4, 11, -4, 2, -4, 5, -4, -1, -3, 2, -4, 9, 1, 5, 4, 2, 7, -2, 2, -3, 6, 1, -3, -5, -4, 7, 1, 1, 2, 1, 4, -40, -4, -3, 1, 3, -8, 6, 1, 7, 0, -4, 6, 3, -12, 9, -1, -4, -2, -7, 4, -13, 3, -13, -7, 7, 9, 11, 1, -3, -4, 3, -1, 1, 6, 6, -1, 11, -2, -5, -5, -3, -2, 1, -2, -11, 3, 6, 1, -1, 4, 8, 1, 8, 2, 12, -9, -1, 8, 3, 3, -3, 7, 1, -1, 2, -4, 3, -6, -1, 4, -6, 11, -8, 1, 1, 2, 0, 5, -8, 10, 7, 5, 8, 7, -5, -4, -1, -10, 4, 4, -8, -2, -8, -14, -2, -2, -31, 0, 1, 8, 2, -5, 3, -1, -5, 5, -5, 3, 11, -1, -3, -10, 11, -9, 2, -5, 4, 3, 25, 5, 1, 1, -2, -3, -1, -6, 7, -3, 4, -4, 0, 1, -7, 11, 2, -9, 6, 1, 2, 0, 9, -1, -2, -6, 2, 2, -4, 5, 0, -4, 2, 1, -2, 1, 2, 0, 5, -2, 5, -8, 0], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/1/16/Large_Salinas_house.jpg", "imageLicense": "CC BY-SA 2.5", "imageArtist": "Brendel", "explanation": ["Imagine you're betting on a football game. You want to know if the team's performance will improve or decline over the next season.", "Traders look at implied volatility to guess if stock prices will jump around more or less in the future, like predicting if a football team will be more unpredictable or steady next season."], "example": "If a trader sees high implied volatility for a stock, it's like noticing the football team is expected to have a wild season with lots of ups and downs.", "whyItMatters": "High implied volatility suggests the market expects more dramatic price movements in the future."}, {"id": "155e4f8ad682", "title": "Risk-free rate", "slug": "risk-free-rate", "headline": "Risk-free rate inferred from zero-coupon Treasury bonds (T-bills)", "summary": "What the risk-free rate represents \u2014 return on a theoretically riskless investment (Treasury bills)", "source": "What the risk-free rate represents \u2014 return on a theoretically riskless investment (Treasury bills)", "sourceUrl": "https://en.wikipedia.org/wiki/Risk-free_rate", "articleUrl": "https://en.wikipedia.org/wiki/Risk-free_rate", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -2, -9, 8, 0, -7, 10, 5, 6, 0, 9, 4, -4, 5, -6, 0, 0, -6, -3, 8, 15, -11, -1, -9, 17, 5, -2, -2, 0, -23, 0, -2, -7, 2, 2, 6, -6, 1, 3, 1, -4, 2, -3, -5, 3, -4, 0, -6, -4, 9, 4, -1, -1, 3, -6, 1, 6, 7, -1, 0, 3, 5, -18, 5, 6, 8, -3, 11, -4, -1, 2, 10, -6, 0, 1, -1, 1, -4, -3, 6, 2, 2, 2, -1, -6, -7, 0, -4, 4, -2, -2, 4, 3, -2, -6, 4, 11, 9, -8, 46, -3, 4, 2, 0, 4, -7, -2, -5, -1, -8, 3, -7, 6, -7, -1, -4, -3, 3, 11, 0, -3, 3, 2, -2, -8, -2, 4, 13, 4, 6, 1, -7, -11, 4, 1, -4, 2, 3, -5, 3, 0, 0, -1, -2, -11, 3, 9, 6, 2, 3, -1, 8, 1, -12, 4, 0, -4, -1, 3, 4, -9, -5, -8, 17, -4, -8, -2, 1, -1, -5, -2, 0, -3, -3, 9, 2, -7, -16, -3, -1, -5, -6, -3, 7, 5, 8, -8, -5, 2, 2, -2, -8, -8, 0, -3, 0, 4, 3, -4, -1, 0, -4, -3, 6, -1, 6, 2, 0, 4, 5, 8, -5, 6, 1, -2, 5, 7, 3, -5, -5, 3, -4, -2, -41, -5, -8, 0, 4, -11, -1, -8, -3, 0, 0, -3, -7, -2, 2, 5, -7, -5, -6, 6, 0, 7, -4, -5, 8, 7, 12, -10, 6, 8, -2, -1, 1, -1, 5, 1, 4, 4, -3, -5, 0, 0, -1, 3, -5, -2, -6, 4, -4, 6, 2, -3, 9, 5, 8, -3, -6, 0, -3, 1, 0, 6, 4, -5, -2, -5, 4, -3, -4, 0, 0, 8, -2, -8, -4, 3, 1, -5, -6, 5, 2, 0, 8, 4, -4, 1, 4, 0, 6, 3, 4, -9, -2, 4, 10, -3, -32, 1, -2, -2, 2, 5, 6, -2, -11, 4, -2, 3, 7, 0, 1, -10, 12, -9, 6, 2, 5, 2, 22, 4, -6, -5, -2, 3, 9, 0, 1, 4, 2, -1, -1, 4, -4, 2, -2, -3, -6, 1, 0, -3, 8, 2, 1, -4, 1, 2, -1, 5, 6, 0, 3, -1, -3, 0, 3, -1, -7, -2, 2, 9, 4], "explanation": ["The risk-free rate is derived from zero-coupon Treasury bonds (T-bills) as they are considered virtually default-free. Market participants use the yield to maturity on these bonds to estimate the risk-free rate in a given currency. This approach is based on the assumption that T-bills carry negligible default risk, making them a reliable benchmark for the risk-free rate."], "example": "If a zero-coupon Treasury bond with a face value of $1,000 matures in one year and is currently priced at $950, the yield to maturity (risk-free rate) is approximately 5.26%.", "whyItMatters": "Understanding the risk-free rate is crucial for investors as it serves as a benchmark for evaluating the risk and return of other investments.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/8/8b/%D0%93%D0%BB%D0%B0%D0%B2%D0%BD%D0%B0%D1%8F_%D0%BA%D0%BD%D0%B8%D0%B3%D0%B0.png/1280px-%D0%93%D0%BB%D0%B0%D0%B2%D0%BD%D0%B0%D1%8F_%D0%BA%D0%BD%D0%B8%D0%B3%D0%B0.png", "imageLicense": "Public domain", "imageArtist": "\u041c\u0438\u043d\u0444\u0438\u043d\u0430 \u0420\u0424"}, {"id": "6ea3c79d9a57", "title": "Aversion", "slug": "aversion", "headline": "Losing $100 hurts roughly 2x more than gaining $100 feels good", "summary": "What loss aversion means \u2014 losing $100 hurts roughly 2x more than gaining $100 feels good", "source": "What loss aversion means \u2014 losing $100 hurts roughly 2x more than gaining $100 feels good", "sourceUrl": "https://en.wikipedia.org/wiki/Aversion", "articleUrl": "https://en.wikipedia.org/wiki/Aversion", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -8, -3, 7, -5, -1, 8, 4, 6, 0, 6, -3, 2, -1, -2, 2, -3, -7, -12, 12, 9, -6, 1, -9, 8, -5, 5, -1, -6, -14, 4, -8, 5, -7, -4, 11, -7, 0, -2, 2, 1, 5, 0, -3, 2, 0, -1, -3, 4, 3, 6, 4, 1, 11, -2, 0, 3, 11, -2, -3, 6, 1, -10, 4, 0, -1, -7, 5, -7, 8, -1, -3, -3, 6, 5, -5, 5, -2, -1, 7, 9, 3, -4, -5, -2, -14, 11, 1, 9, -2, 2, -1, -1, -2, -1, 1, 0, 7, -6, 49, 5, 8, -5, -1, 10, -9, -3, 3, -6, -8, 2, -1, 3, 4, -4, 1, 2, 4, 11, 2, -5, 1, 6, 0, -9, -7, 3, 9, -1, -1, 11, -10, -6, 1, -1, 3, -2, 5, -3, 1, 2, -4, -6, -10, -6, 9, 6, -6, -6, 1, -3, 2, -2, -6, 2, 2, 2, -7, 1, -6, 4, -6, -7, -1, 9, 2, -7, -8, 3, 3, -3, -1, -3, -4, 8, 3, -5, -13, -4, 3, 11, 0, 0, 7, -1, 2, -6, -2, 1, 1, -1, -8, -17, 3, -4, 1, -1, 1, -6, 0, 4, 0, -4, 6, 2, 2, 3, -8, 7, -5, 2, 7, 9, 3, 1, 0, 6, 5, 0, 1, 1, 1, -1, -37, -2, -2, -1, 12, -1, 1, -11, 0, 4, 2, -5, 0, -5, 10, 7, -8, 3, -3, 3, -4, 8, -3, -7, 7, 8, 10, 3, -4, -4, -7, -1, 2, -8, 6, -2, 7, -7, -8, -5, -9, -1, -2, -2, -2, 2, 0, 4, -2, 11, 7, 1, 8, 0, 3, -4, -12, -4, 2, 4, 1, -3, 6, -7, 8, -1, 6, -3, 0, 1, 4, 4, -5, -11, 3, 3, -8, 0, -6, -1, 2, -7, -3, 6, 5, 0, 4, -1, 3, -4, -6, 3, -11, -1, 2, -2, -35, -3, 6, 2, -7, 5, 0, 7, -6, 2, 5, 10, 1, -3, -2, 2, 2, -2, 5, 4, 3, -1, 22, 2, -2, -2, -5, 2, 13, -2, -3, 4, 4, -6, 1, 0, -9, 1, 1, -5, 7, 3, 2, 2, 10, 1, -1, -4, -6, -1, -1, 2, 5, -3, 0, 3, -5, -4, 3, -1, -9, 13, 4, -2, -3], "explanation": ["Loss aversion is a psychological phenomenon where the pain of losing is stronger than the pleasure of gaining. This concept is rooted in the aversion principle, highlighting how individuals tend to prefer avoiding losses over acquiring equivalent gains."], "example": "Imagine you have $100. Losing it feels significantly worse than gaining another $100 feels good.", "whyItMatters": "Understanding loss aversion is crucial for making informed financial decisions and managing emotions related to money.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/c/c6/Gold_bullion_2.jpg", "imageLicense": "Public domain", "imageArtist": "Szaaman"}, {"id": "25e11c902182", "title": "the disposition effect causes", "slug": "the-disposition-effect-causes", "headline": "Why do you sometimes regret selling stocks too soon or holding onto losing ones?", "summary": "What the disposition effect causes \u2014 investors sell winners too early and hold losers too long", "source": "What the disposition effect causes \u2014 investors sell winners too early and hold losers too long", "sourceUrl": "https://en.wikipedia.org/wiki/Disposition_effect", "articleUrl": "https://en.wikipedia.org/wiki/Disposition_effect", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [4, 0, -1, 5, 2, -3, 13, -2, 9, -3, 6, 0, 3, 5, -7, 7, -2, -6, -6, 6, -8, -6, -1, 0, 1, -7, 0, -4, -7, -17, 4, -8, 1, -6, 1, 8, -12, 5, -1, 4, -1, 6, 4, 0, 0, -6, 3, -6, 1, 3, -7, -3, 2, 5, 3, 10, 2, 14, -3, 7, 10, -3, -12, -1, 2, 3, 0, 7, -4, 6, -1, -1, -4, 3, 5, 2, 1, -2, 0, 5, 12, 3, -1, 3, -5, -5, 9, -3, 8, 2, 3, 1, 2, 5, -5, 4, 10, 3, -5, 41, 2, 9, -7, -1, 2, -1, -5, 6, 0, 0, 4, 3, 6, -2, -7, 3, -3, 3, 3, -7, -4, 6, 4, -1, -9, -9, -3, 12, -2, -8, 1, -2, -7, 3, 5, 1, -8, -1, -2, -6, -4, 2, -3, -7, -6, 14, 8, -8, 1, 4, -10, 2, -5, -9, -1, 1, 2, 5, -3, -3, -5, 3, -10, 6, 3, 1, -6, -2, 0, -2, -5, -6, 0, -9, 3, 0, -3, -8, -3, 3, 8, 0, 3, 2, 5, 0, -8, 0, 2, 9, -7, -7, -7, 0, 1, -7, 2, 5, 1, 2, 2, -3, -7, 1, -1, 3, 4, -7, 8, -1, -3, 6, -3, 3, 4, 2, 0, 3, 7, 4, 6, -4, 6, -39, -8, -9, -11, 3, -4, 0, 3, -3, 0, 0, -6, -3, -8, -2, -7, -10, 8, -4, 0, -11, 3, -2, -8, 8, 0, 12, 0, -1, -1, 8, 3, 1, -5, 4, -4, 4, -10, -9, -2, -12, -8, 4, 5, -9, 3, 0, 9, 1, 19, 6, 4, 6, -1, 7, -5, -3, 1, 5, 6, 5, -4, 2, -4, 5, -5, 2, -7, -8, 1, 0, 18, -14, -3, -2, 1, -5, 3, 2, 3, 3, -3, 3, 9, -5, 2, 4, -3, 5, 3, -9, 5, -11, -1, 6, 3, -29, 1, 9, 1, 5, 5, 2, 9, -4, 3, -7, 2, 5, -4, -2, 1, 7, -5, 4, -2, 3, 5, 25, 1, -1, 8, -1, -1, 0, -9, 6, -2, 8, -8, -6, -1, -10, 4, 3, -1, 7, 1, 3, -1, 13, 3, 3, -1, -1, -8, -4, 0, -6, -5, -3, -3, -5, -4, 6, 8, 2, -1, 0, 1, 6], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/20/MSC_Zoe_%28ship%2C_2015%29_003.jpg/1280px-MSC_Zoe_%28ship%2C_2015%29_003.jpg", "imageLicense": "CC BY-SA 2.0", "imageArtist": "kees torn", "explanation": ["Imagine you've invested in a company, and it starts performing well. You feel proud and excited, but then you decide to sell it early for a quick profit. Later, you regret missing out on more gains.", "You sold your winning stocks too soon because you wanted immediate rewards instead of waiting for better returns. This behavior is known as the disposition effect."], "example": "You bought shares at 50 each and sold them at 70 after a week for a 20 gain. You could have held them for another month, expecting them to rise to 80.", "whyItMatters": "The single insight is to avoid selling winning stocks too early and holding onto losers too long."}, {"id": "245ae1ac61f5", "title": "Anchoring effect", "slug": "anchoring-effect", "headline": "Ever bought a car thinking it's a great deal only to regret it later?", "summary": "What anchoring does in investing \u2014 the purchase price biases your sell decision", "source": "What anchoring does in investing \u2014 the purchase price biases your sell decision", "sourceUrl": "https://en.wikipedia.org/wiki/Anchoring_effect", "articleUrl": "https://en.wikipedia.org/wiki/Anchoring_effect", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [6, -3, 1, 7, -5, 0, 12, 1, 4, -1, 10, 4, -1, 8, -4, 4, -4, -2, -2, -1, -7, -11, 2, -7, 4, -3, 2, -1, -4, -15, 1, -5, 4, -1, -9, 6, -14, 3, 8, 4, 1, 4, -7, 3, -3, 3, 6, -4, -2, 4, -7, 1, -1, -1, -3, 11, -1, 8, 2, 11, 12, -4, -11, 5, 1, -3, -9, 3, -5, 5, 6, 0, -5, 6, 4, -1, 4, 11, -3, 2, 7, -1, -3, 1, -3, -5, 10, -2, 9, 2, 5, -5, -5, -4, -2, 5, 5, 2, -14, 43, -3, 3, -3, 0, 0, 1, -8, 2, -1, 0, 0, 0, 5, -5, -6, 0, -5, 5, 10, -2, -11, 8, 5, 0, -8, -10, 3, 11, 0, -7, 0, -18, -11, 0, 5, 6, -1, 0, 1, 1, -5, 4, -2, -1, -9, 11, 6, -2, 1, 1, -9, -4, -2, -6, -2, -1, -4, 3, -4, 3, -8, 1, -12, 4, 5, -10, -3, 1, -1, 1, -5, 4, -1, -3, 5, -1, -5, 0, -8, 2, 8, 2, -1, 2, 1, -2, -12, -1, 2, 1, -7, -7, -7, 4, -1, -2, -2, 6, -3, 5, -3, -10, -14, -1, -1, 7, 5, -3, 12, -3, -3, 4, -2, 0, -4, 5, -1, 8, 1, -1, 1, -5, 8, -42, -3, -7, 0, 3, -4, 4, -1, -3, 2, -2, -8, 6, -3, 5, -6, -14, 4, -6, 6, -8, 4, -7, -6, 14, 3, 16, 1, 2, 0, 9, -4, 3, 1, 2, -6, 9, 1, -10, 0, -3, -2, 1, -6, -3, 6, 4, 7, 3, 9, 7, 0, 6, 4, 9, -4, -6, -2, 3, 4, 10, -4, 4, -7, 2, 0, 0, 0, -2, 0, 1, 9, -8, -3, -1, 1, -1, 1, -5, 1, 5, -2, -2, 6, -3, 0, -1, -5, 3, 1, -9, 3, -6, -1, 8, 2, -26, -2, 4, 6, 2, 3, 2, 0, -6, 6, -6, 4, 6, 0, -5, -2, 8, 0, 12, 6, 2, 6, 22, 9, -2, 0, -11, -4, 1, -2, 5, -2, 1, -3, 0, -8, 0, 4, 11, 6, 2, 7, -1, 5, 12, 2, 3, -3, -3, -9, -1, 0, -3, -10, -2, -5, -5, -2, 10, 2, 3, 0, 2, -1, 6], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/c/c9/Hanjin_container_ship.jpeg/1280px-Hanjin_container_ship.jpeg", "imageLicense": "CC BY 2.0", "imageArtist": "Flickr user Ingrid Taylar", "explanation": ["Imagine you're shopping for a car. You see a car priced at 20,000, but you know it's not a good deal. However, seeing it next to a 30,000 car makes it seem like a bargain.", "The first car's price makes you compare it to the 30,000 car, creating a mental anchor. This anchor skews your perception, making the 20,000 car seem like a better deal than it actually is."], "example": "You see a car for 20,000 next to a 30,000 car. The 20,000 car feels like a great deal because of the 30,000 anchor.", "whyItMatters": "The 30,000 car creates an anchor, influencing your perception and making you think the 20,000 car is a better deal than it really is."}, {"id": "9066c871711b", "title": "Herd behavior", "slug": "herd-behavior", "headline": "Herd behavior leads to market bubbles and crashes", "summary": "What herding behavior causes in markets \u2014 following the crowd creates bubbles and crashes", "source": "What herding behavior causes in markets \u2014 following the crowd creates bubbles and crashes", "sourceUrl": "https://en.wikipedia.org/wiki/Herd_behavior", "articleUrl": "https://en.wikipedia.org/wiki/Herd_behavior", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [0, -3, -1, -1, 5, 1, 7, 5, 11, -5, 4, -1, 2, 2, 0, 2, -2, -4, -1, 3, -4, -8, -1, -7, 1, 7, -2, 3, -8, -26, 6, -6, 9, 5, 3, 0, -1, -2, 7, 7, -5, 4, 3, 0, -2, -5, 3, -3, 0, -9, -2, -5, -5, 2, 0, 5, 4, 7, 0, 3, 7, 1, -19, 1, 9, 6, -4, 7, -6, 3, 1, 4, 1, 3, 4, 1, -3, -1, 0, 4, -1, 3, -3, -4, -7, -5, 12, -4, 5, 0, 0, 6, -3, 2, -5, 4, 3, -1, 1, 44, 4, 8, 0, 4, -1, -5, -5, -3, -2, 9, 2, -1, 8, -7, 0, -3, -2, -2, 0, -2, -2, 4, 10, -5, 3, 1, -4, 16, 4, -11, -1, 4, -13, 5, 3, -4, -6, -2, -2, 3, -4, -1, 4, -17, -5, 6, 7, -1, 0, -3, -8, 3, -5, -5, -4, 3, 5, 11, -5, -3, -10, -3, -3, 7, -2, -7, 2, 0, 0, 0, -6, 4, -4, -8, 3, 2, -7, 1, -4, 2, 8, 0, -2, 4, -3, -3, -11, 2, -1, -1, -7, -9, -8, -3, -3, -3, 6, 5, -1, 2, -6, 8, -8, -1, 0, 5, 6, -3, 12, -12, 9, 5, -4, 5, -4, 3, 6, 1, 9, -2, 4, 2, -2, -37, -12, 0, -2, 2, -2, 8, -2, 4, 5, 3, -4, -7, -4, 11, -1, -12, 8, -4, -1, -9, 3, 5, 0, 6, 3, 14, 3, -9, 9, 0, 1, -4, 0, -1, 3, 10, 1, -9, -3, -6, -1, -1, 0, -4, 2, 3, 3, 1, 6, 7, 0, 11, 2, 1, -5, -6, -5, -5, 4, 4, -4, 2, 0, 4, 1, -1, -8, -7, 10, -5, 16, -5, -10, 0, -2, -5, -7, -5, 7, 12, -8, 6, 8, 5, -3, 1, -3, 3, -4, -2, -2, -13, 1, 4, 6, -35, -4, 0, 8, -1, 5, 3, 0, -1, 1, -10, 9, 5, -2, 5, 3, 4, -5, 6, -4, 0, 2, 21, -1, -4, 4, 2, -1, 3, -1, 3, -2, 8, -6, 1, 5, -1, 0, 1, -3, 0, 0, 2, -1, 3, 0, 1, -10, 2, 10, -4, -5, -9, -3, -2, 6, -7, 4, 4, 1, 0, -3, 3, -3, 1], "explanation": ["Herd behavior occurs when individuals in a group act collectively without centralized direction, influencing markets significantly. Raafat, Chater, and Frith's integrated approach highlights the mechanisms of thought transmission and connection patterns, applicable across various domains, including economics."], "example": "During the dot-com bubble, investors collectively rushed into tech stocks, ignoring fundamental valuations, leading to a market crash.", "whyItMatters": "Understanding herd behavior helps investors and policymakers mitigate risks associated with market bubbles and crashes.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/4/4b/China_-_5732266939_Gold_-_M%C3%BCnzen_-_Barren.jpg/1280px-China_-_5732266939_Gold_-_M%C3%BCnzen_-_Barren.jpg", "imageLicense": "CC BY-SA 2.0", "imageArtist": "Bill Holler"}, {"id": "74b103aa5f6c", "title": "Overconfidence effect", "slug": "overconfidence-effect", "headline": "Overconfidence leads to overtrading and underperformance", "summary": "What overconfidence bias does to traders \u2014 they overtrade and underperform", "source": "What overconfidence bias does to traders \u2014 they overtrade and underperform", "sourceUrl": "https://en.wikipedia.org/wiki/Overconfidence_effect", "articleUrl": "https://en.wikipedia.org/wiki/Overconfidence_effect", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [3, -5, -1, 2, 3, 0, 12, 1, 3, -1, 6, -3, 4, 0, 0, 5, -3, -9, 0, 4, -2, -11, 7, -4, 1, -4, -4, -10, -13, -19, 0, -5, 2, 2, 1, -1, -6, 0, 2, 4, -6, 4, -1, 0, -1, -9, 2, -2, -4, 0, -5, -3, 0, 1, 5, 8, 4, 10, -3, 4, 8, 5, -12, 0, 5, 4, -5, 0, -10, -1, 4, -5, -1, 0, 6, 1, -2, 1, 1, 7, 4, 5, -4, -4, 3, -6, 13, 5, 8, -5, 4, 0, -5, -1, 1, 1, 5, 3, -7, 44, 4, 5, -7, 3, 1, -3, 0, -4, 0, 2, -5, -3, 6, 3, -3, 9, 1, 1, 6, 2, -4, 5, 9, -4, -3, -9, -4, 15, -2, -7, -2, -4, -6, 1, 4, 2, -4, 6, 5, 8, -4, 4, -2, -6, -9, 13, 9, -1, 3, 2, -10, 2, -5, -8, -6, 1, -2, 5, -7, 1, 0, 1, -8, 11, 1, -5, 4, -2, 0, -2, -2, -5, -7, -5, 1, -1, -6, -5, -6, -1, 12, -3, -6, 3, -2, -1, -2, 0, 0, 7, -6, -6, -7, 5, -6, -1, -1, 7, -8, 4, -1, 1, -11, 2, 0, 6, 7, -6, 18, -1, -1, 5, 0, 6, -1, 1, 6, 8, 1, 0, -3, 5, 2, -40, -5, -1, 3, 3, -2, 11, 2, 3, 9, -4, 0, 0, -7, 5, 4, -9, 7, -3, 2, -7, 11, -1, -7, 7, 2, 14, -2, -5, 2, -1, 4, 0, -2, 11, 1, 8, -9, -6, -2, -4, -4, 0, 1, -9, 4, -3, 3, -6, 9, 6, 2, 13, 5, 0, -4, -11, -4, -2, 6, 4, -3, -1, 1, 4, 4, 1, -4, -1, 5, -2, 12, -7, -6, -1, 3, -1, -5, -3, 5, 8, 3, 2, 9, 1, -5, 0, -11, 13, 4, -5, 1, -10, -6, 0, 5, -32, -5, 1, -3, 2, -2, 3, 5, -8, 0, -3, 3, 0, -5, 2, -4, -1, -8, 10, 7, -2, 6, 25, 3, 3, 5, -6, -7, 6, -4, 3, -1, 3, 0, 1, 6, -11, 1, 6, -4, 9, -1, 8, 2, 10, -1, -1, -5, 2, -5, -7, 0, 0, -1, -3, -5, -7, -2, 4, -3, -5, -5, -1, -2, 1], "explanation": ["Overconfidence bias causes traders to overestimate their abilities and knowledge, leading to excessive trading. This miscalibration results in making more trades than necessary, often based on unwarranted certainty in their judgments."], "example": "A trader with high confidence in their stock picks may trade excessively, believing they can time the market perfectly. However, this overconfidence can lead to frequent buying and selling, incurring higher transaction costs and missing out on potential gains from holding positions longer.", "whyItMatters": "Understanding overconfidence bias helps traders recognize their tendency to overtrade, allowing them to adopt more disciplined trading strategies and potentially improve their performance.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/7/73/%E5%8D%97%E5%9F%8E%2C_%E4%B8%9C%E8%8E%9E%E5%B8%82%2C_%E4%B8%AD%E5%9B%BD_Mar_03%2C_2021_20-59-43.jpeg/1280px-%E5%8D%97%E5%9F%8E%2C_%E4%B8%9C%E8%8E%9E%E5%B8%82%2C_%E4%B8%AD%E5%9B%BD_Mar_03%2C_2021_20-59-43.jpeg", "imageLicense": "CC BY-SA 4.0"}, {"id": "30ab8f963599", "title": "Prospect theory", "slug": "prospect-theory", "headline": "Daniel Kahneman and Amos Tversky developed Prospect Theory in 1979", "summary": "What Daniel Kahneman's Prospect Theory explains about risk decisions", "source": "What Daniel Kahneman's Prospect Theory explains about risk decisions", "sourceUrl": "https://en.wikipedia.org/wiki/Prospect_theory", "articleUrl": "https://en.wikipedia.org/wiki/Prospect_theory", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, 7, -1, 2, -3, -1, 12, 7, 2, -4, 4, 2, -2, 5, 3, 10, -10, -2, 1, 5, 6, -7, 1, -7, 4, 0, 6, -6, -1, -18, 2, -1, 4, -13, -3, 0, 4, 7, -2, 2, -4, -1, 2, -2, -5, -4, 4, -4, -7, -5, -1, -5, 2, -5, 4, 2, 9, 9, 0, 8, 3, -1, -27, 2, 5, 3, -8, 2, -4, 2, 2, 10, 1, 1, 3, 0, -1, -2, -4, 0, 6, 6, -7, 4, -4, -7, -1, -6, 7, 3, 1, -1, -9, -6, -5, 4, 5, 7, 0, 45, -4, 3, -4, -2, 1, -3, -6, -12, 8, 2, -1, 1, 11, 3, -5, 1, -8, 9, 6, -2, 1, 11, 6, -1, -7, -5, -2, 15, 2, -6, 1, -3, -3, 1, 7, 3, -3, 7, -3, 8, 1, 2, -3, 1, -9, 4, 9, -1, -2, 1, 3, -1, -3, -7, -2, -2, 1, 5, -10, -3, -7, 6, -5, 13, -2, -1, 1, -3, 1, 3, -2, 8, -3, 1, -1, 2, -7, -3, 3, 0, 4, -7, -6, 5, 1, 0, -4, -3, 0, 11, -1, 1, 2, 6, -3, -2, -2, -4, -2, 3, -8, -7, -7, -3, -4, 3, 15, 0, 4, -3, 0, 3, 1, 7, 4, 8, 2, 5, -3, -2, 4, 3, -5, -42, -2, -5, 2, 1, 2, 0, -7, -2, 4, -1, -3, -5, 6, 0, -4, -7, -8, -12, 2, -3, 9, 2, -9, -3, -1, 12, 2, -7, -1, -1, 4, 0, 0, 7, -2, 3, 0, -10, -9, 4, -1, -6, 5, -8, -1, 3, 5, -2, 6, 3, 0, 10, -5, -2, -2, -8, 5, 3, 8, 0, 4, -1, 1, 4, -5, -1, -1, -6, -1, -4, 7, -7, -2, 7, -1, 6, -3, -2, -3, 5, -6, 2, 4, -3, -8, 9, -4, 1, 5, -10, 0, -10, -4, 11, 7, -30, 4, -5, 1, -4, 2, 4, -5, 8, 2, 6, -4, 3, 0, -3, -5, -2, -8, 3, 1, 7, 11, 26, 1, -1, 4, 0, -6, -3, -6, 1, 0, 7, -9, 0, 10, 1, 6, 3, -4, -3, -1, 12, 1, 13, 5, -3, -9, -2, 2, -4, -1, 2, -4, 2, 1, 3, -3, 1, -3, -4, 3, 2, 1, 5], "explanation": ["The theory introduces a value function defined over gains and losses, rather than final wealth. It also includes a probability-weighting function that reflects the tendency of individuals to overweight small probabilities and underweight large ones. This challenges the expected utility theory, which assumes perfectly rational agents."], "example": "A person might prefer a guaranteed $50 over a 50% chance to win $100, even though the expected value of the gamble is higher.", "whyItMatters": "Understanding Prospect Theory helps explain why people make irrational decisions when faced with risk.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/4/4d/Daniel_Kahneman_%283283955327%29_%28cropped%29.jpg"}, {"id": "03d3a908102b", "title": "Mental accounting", "slug": "mental-accounting", "headline": "Mental accounting influences spending and saving decisions", "summary": "What mental accounting does \u2014 treating money differently based on where it came from", "source": "What mental accounting does \u2014 treating money differently based on where it came from", "sourceUrl": "https://en.wikipedia.org/wiki/Mental_accounting", "articleUrl": "https://en.wikipedia.org/wiki/Mental_accounting", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [2, 7, 0, -2, 5, 8, 7, -1, 6, -6, 5, 4, -2, 3, 1, -3, -8, -1, -5, 6, 3, -12, 5, 2, 6, 1, -2, -2, -3, -16, 10, -6, 6, -3, 1, 2, -11, 7, 4, 5, 0, 3, -4, -7, 0, -2, 8, 2, -1, 1, -6, -5, -3, 6, 1, 13, 12, 6, -3, 3, 5, -1, -16, 2, 1, 1, -5, 3, -7, -1, -7, -7, 0, 2, 10, -5, 0, 0, -5, 0, 1, 9, -4, 1, -2, -1, -1, -9, 6, -11, -2, 5, -1, -5, -3, -1, 11, 6, -7, 45, 1, 0, 3, -2, 0, -8, 1, -7, -2, 4, 2, 2, 1, 1, -2, 8, -1, -7, 11, -4, -1, 5, 0, 0, -14, -13, -1, 12, -5, -8, 8, -3, -9, -2, 3, 0, -1, 8, 5, 6, 3, 12, -3, -7, -10, 18, 6, -6, 2, 8, -1, 6, -3, -6, -3, 1, -1, 2, 1, 1, -3, -2, -7, 6, 2, -3, -4, -4, 2, -5, -5, -3, -6, 0, 0, -5, -5, 3, -8, 7, 7, -7, -5, -3, -2, -8, -1, -8, 0, -1, 1, 0, -6, 0, -10, -5, 1, 5, -8, 2, -1, 3, -2, 1, 5, 6, 1, -2, 15, 0, -3, 1, 10, 7, 1, 4, 8, 7, 3, 0, 2, -6, 0, -35, -4, -6, 4, 0, -5, 2, -3, 1, 7, -4, -11, -6, 4, -2, 0, -6, -2, -13, 6, -10, 2, 5, -6, 0, 1, 17, -4, 0, 7, -5, 2, -2, -14, 5, 3, -3, -4, -9, -8, -4, -1, -4, 4, -8, 6, -2, -2, -3, 5, 1, 1, 2, -2, -3, -7, -2, 2, 0, 3, 3, -7, 0, 6, 7, -6, -3, -2, 1, 3, 4, 9, -4, -7, 5, 5, 5, -4, -3, -1, 9, -2, 5, 6, -2, -1, 2, -6, 9, -4, -4, 2, -5, -6, 10, 6, -30, 3, 0, 2, 5, 4, -7, 8, -2, 3, 1, 2, 7, 0, -4, 0, 5, -5, 12, 2, 1, 7, 25, 5, 0, -5, 3, -4, 15, 0, 5, -1, 11, 0, 1, -1, -13, -1, 9, -3, 1, 0, 2, -2, 14, 4, 0, -11, -2, -3, 4, 1, -1, -3, 3, -4, -4, -3, 4, -2, -1, 8, -2, -1, 2], "explanation": ["Mental accounting can lead to cognitive biases, such as loss aversion, which affect decision-making. For example, individuals may be more cautious with money allocated for a specific purpose, like saving for a vacation, compared to money in a general savings account. This bias can result in systematic deviations from rational consumer behavior."], "example": "Jane uses mental accounting to save for a vacation by setting aside money in a separate mental account labeled \"Vacation Fund,\" while keeping her general savings in another account for emergencies.", "whyItMatters": "Understanding mental accounting helps individuals make better financial decisions by recognizing how they categorize and evaluate their money.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/1/16/Paying_with_a_Credit_Card_%2828886645201%29.jpg/1280px-Paying_with_a_Credit_Card_%2828886645201%29.jpg"}, {"id": "f0fd480cd72d", "title": "Endowment effect", "slug": "endowment-effect", "headline": "People value owned items more than unowned ones", "summary": "What the endowment effect causes \u2014 you value what you own more than what you don't", "source": "What the endowment effect causes \u2014 you value what you own more than what you don't", "sourceUrl": "https://en.wikipedia.org/wiki/Endowment_effect", "articleUrl": "https://en.wikipedia.org/wiki/Endowment_effect", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, 5, 2, -4, 7, 0, 13, 6, 8, 3, 7, 6, 7, -1, 4, 2, -6, 0, -13, 5, 2, -16, 1, -6, 1, -2, -4, -1, 3, -20, 0, -1, 5, -2, 1, 0, -5, -1, -1, 7, -2, 3, -5, -4, -5, -2, 1, -5, -1, 1, -4, -1, -2, 8, -2, 6, 6, 8, -6, 3, 9, -2, -12, 2, 7, 5, -2, 6, -9, -1, 2, 6, 4, 3, 8, -2, 0, -4, -3, -2, 2, 7, 1, -1, -2, -4, 2, -7, 2, -3, 1, 4, 1, 0, 4, 7, 5, -1, -3, 48, 0, 9, -1, -2, 6, 1, -2, -2, 0, 5, 2, 3, -1, 1, 1, 2, 1, 0, 10, -8, -7, 6, 4, -3, -13, -8, 1, 13, 0, -6, -3, -10, -7, -2, 0, 0, -5, 3, 5, 7, 0, 7, -3, -11, -6, 14, 9, -2, 0, 3, -5, 2, -6, -6, -4, 2, -2, 0, 1, -3, 4, -3, -11, 3, 0, -4, -3, -4, -1, -4, -4, -4, -8, 3, 13, -1, -8, -2, -10, 3, 7, 2, -8, 6, -1, -5, -7, 0, 2, 7, 1, -3, -11, -1, -1, -2, 1, 2, -2, 4, -5, 4, -5, -4, -3, 5, 3, -8, 15, -1, -1, 7, -1, 7, -2, 2, 10, 1, 8, 2, 1, -4, 0, -40, -2, -8, -4, -1, 1, 3, 2, -3, 2, -2, -8, -1, 7, 0, -4, -8, 0, -9, 1, -10, 4, 5, -7, 7, 1, 10, -1, -5, 0, 4, 3, -3, -8, 0, 4, -4, -4, -10, -5, -7, -1, 0, -2, -5, 7, 0, 3, 1, 12, 3, 0, 4, 8, -3, -5, -4, 3, 9, 12, 7, -1, 0, -7, 9, -12, -7, -4, -4, 4, 0, 9, -4, -6, -4, 4, -4, 1, -2, 3, 5, 1, -3, 9, 2, 2, -2, 0, 9, -4, -3, 2, -7, -7, 1, 6, -34, 3, 5, 4, 3, 8, -1, 9, 4, -2, 1, 4, 4, -5, 3, -1, 7, -7, 3, 0, 2, 7, 22, 3, -4, -3, -2, 2, 1, -2, -4, -2, 14, -5, -3, -1, -5, -4, 1, 1, 0, -2, -5, 3, 16, 3, 1, -7, 2, -8, -1, 0, -1, 1, -2, -7, -9, 1, 6, -2, 1, 7, -5, 1, 2], "explanation": ["The endowment effect shows that individuals place a higher value on items they own compared to those they don't own. This phenomenon is rooted in loss aversion, where the pain of losing something is felt more intensely than the pleasure of gaining it. The endowment effect explains why people are often unwilling to trade or sell items they own, even if they could benefit from the trade."], "example": "A person might refuse to sell a coffee mug they own for a cup of coffee, even though both items have similar expected value.", "whyItMatters": "Understanding the endowment effect helps explain consumer behavior and resistance to change, which can be crucial for marketing strategies and economic predictions.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Patek-Philippe_MG_2596.jpg/1280px-Patek-Philippe_MG_2596.jpg", "imageLicense": "CC BY-SA 2.0 fr", "imageArtist": "Rama"}, {"id": "8b1dd006f09c", "title": "Recency bias", "slug": "recency-bias", "headline": "Recency bias overvalues recent events in decision-making", "summary": "What recency bias does \u2014 overweighting recent events in investment decisions", "source": "What recency bias does \u2014 overweighting recent events in investment decisions", "sourceUrl": "https://en.wikipedia.org/wiki/Recency_bias", "articleUrl": "https://en.wikipedia.org/wiki/Recency_bias", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -2, 1, -2, 0, 3, 5, 4, 7, -2, 7, 3, 5, 4, -2, 5, -10, -11, -3, -1, -3, -13, 3, 2, 2, -3, -5, -4, -11, -24, 3, -6, 2, -4, 1, 1, -9, 5, 7, 8, -4, 5, 2, -8, -3, -5, 3, -2, -4, 3, 0, -9, 3, 0, 3, 11, 7, 9, 3, 3, 8, -4, -17, 0, 2, 1, -7, 4, -8, -3, 2, 5, 0, 3, 4, 3, -2, 0, 1, 3, 7, 5, -4, -3, 0, -5, 1, 1, 8, -2, 2, 5, -1, 4, -7, 2, 11, 2, -6, 43, -2, 5, -3, 4, 3, -5, -5, -6, -2, 5, 0, 0, 8, 3, -2, 11, 0, 3, 8, 1, -3, 0, 5, 1, -3, -9, -1, 16, 0, -7, 2, -6, -14, 4, 3, 1, -2, -1, -1, 2, -6, 6, -2, -4, -17, 23, 2, 0, 4, -1, -7, 3, 4, -4, 0, 2, -10, 3, -2, 5, -3, -5, -8, 11, 0, -4, 2, -5, 1, 5, -1, -5, 1, -2, 6, 2, -4, -1, -6, 3, 8, -7, -8, 3, 0, -3, 0, -5, 0, 9, -6, -5, -1, 6, -1, -3, 0, 4, -3, -1, -7, -7, -10, -5, -1, 7, -2, -6, 16, -3, -1, 2, 0, -2, -1, 2, 6, 9, 2, -3, -1, 4, 5, -41, -5, -3, -3, 1, 0, 6, 0, 1, 8, -7, -3, -5, -1, 7, -2, -8, 1, -9, 5, -7, 5, 0, -5, 11, -3, 15, -4, -5, 1, 0, 5, -3, -7, 9, 1, 9, -1, -9, -1, -2, -6, 0, -4, -3, 3, 1, 2, -1, 10, 7, -4, 8, 1, 7, 2, -7, 3, -1, 3, 8, -6, -4, 1, 6, -2, 3, -5, -4, 4, -2, 12, -5, -7, 2, 6, 2, -5, -1, 2, 8, -5, -1, 10, 1, -6, 1, -2, 6, 4, -5, -6, -10, -5, -2, 2, -31, 5, -3, 2, 8, 5, -3, 1, -4, 0, -4, 4, 6, -3, -4, -4, 7, -6, 8, 0, 0, 9, 21, 1, 4, 1, -4, -7, -1, -3, 8, -2, 12, 1, -4, 5, -6, 5, 2, 0, 5, 2, 3, -2, 13, 2, 2, -7, 0, -1, -5, -2, -1, -2, -2, -4, -3, -4, 5, -4, -1, 2, 0, -2, 2], "explanation": ["Recency bias is a cognitive bias that prioritizes recent events over historical ones. This bias can significantly impact investment decisions, as investors may give undue weight to the latest market trends or news, potentially leading to skewed perceptions and actions."], "example": "An investor might overreact to a recent stock market dip by selling off assets prematurely, ignoring the long-term historical performance of the market.", "whyItMatters": "Understanding recency bias is crucial for investors to make more balanced and historically informed decisions, reducing the risk of impulsive actions based on recent events.", "imageUrl": "https://upload.wikimedia.org/wikipedia/en/thumb/6/60/W_Amman.jpg/1280px-W_Amman.jpg", "imageLicense": "CC-BY-SA-3.0", "imageArtist": "Malkawi99"}, {"id": "154589a7e040", "title": "Black swan theory", "slug": "black-swan-theory", "headline": "Nassim Taleb coined the term \"Black Swan\" in 2001", "summary": "What Nassim Taleb's Black Swan theory says \u2014 rare unpredictable events dominate history", "source": "What Nassim Taleb's Black Swan theory says \u2014 rare unpredictable events dominate history", "sourceUrl": "https://en.wikipedia.org/wiki/Black_swan_theory", "articleUrl": "https://en.wikipedia.org/wiki/Black_swan_theory", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, 2, -8, 1, -1, 0, 2, -2, 5, -11, -2, 0, -4, 5, 2, 1, -7, -4, -3, -3, 9, 3, -6, -4, 2, 5, 5, 1, -2, -20, -4, -7, 5, 2, 1, 0, -4, 2, 1, 8, -5, -1, 7, 2, -2, 0, 6, 10, -13, -12, -9, -7, -4, 3, 5, 5, 3, 3, 5, -4, 5, 4, -27, 4, 8, 0, -8, -11, -1, 2, -2, -8, 1, 8, 2, -1, -2, -1, -5, 4, 14, 0, -4, -5, -3, -2, -2, -6, -4, 6, -4, 0, 3, -4, -1, -3, -1, 2, 7, 42, 1, 5, -8, 4, 4, -4, -4, -10, 2, 3, 8, -6, 9, 0, 10, 4, 0, -10, 0, 0, -5, 2, 10, -3, -5, 2, 2, 11, 2, -14, 4, 1, -8, -4, 5, 0, 2, -2, 2, -6, 1, -4, -1, 2, -8, 1, 4, -1, 4, 5, -2, -8, 6, -2, 11, -5, 9, 8, -8, -3, -5, -10, -3, 6, 4, -6, 4, 2, 5, 4, -2, -3, -2, 1, -1, 6, 0, -13, -2, 2, 0, -9, -3, 6, 0, -7, 3, 4, 5, -4, 1, 4, 3, 2, -2, 1, 9, -3, 5, -5, -15, -3, -4, 2, 6, 4, 1, -5, 3, 0, 3, 5, -3, 3, -5, 2, 2, 5, -7, 0, 11, -7, -11, -40, -4, -3, -13, 10, 3, 1, -7, -1, 6, -7, 1, -4, -7, -4, 9, -7, -1, -10, 0, -9, 8, 2, -2, -5, -2, 12, 11, 3, -4, 8, -1, 8, 1, 3, 0, 2, -3, -6, -2, 5, 0, -1, 2, -8, 3, 9, 1, 6, 9, 4, 2, 0, 2, -1, 1, -2, 5, 0, 4, 1, 5, -2, -3, 3, 0, 0, -5, 3, 1, -6, 14, 0, -4, 4, -2, 10, -4, -4, 3, 4, -7, 4, 7, -4, -1, -2, -3, 4, 1, 1, -4, -2, 4, 3, 4, -32, 9, -7, -1, -2, 0, 2, 1, 4, 1, 3, -5, 2, 5, -5, -4, 6, -8, -3, -5, 4, 4, 22, 6, 0, 1, 3, 4, 2, -1, 1, -5, 6, 1, 1, 6, 6, -1, 6, 1, 0, 4, 14, 3, 12, 2, -3, -10, -3, 6, -6, -1, 5, 1, 0, -1, -1, 0, 1, -9, 3, -4, -2, -5, 6], "explanation": ["Nassim Taleb introduced the black swan theory to describe rare, unpredictable events with significant impact. He highlighted the difficulty in predicting these events due to their rarity and the limitations of scientific methods. Taleb emphasized the psychological biases that prevent people from acknowledging the importance of such events."], "example": "The discovery of black swans in Australia by Dutch mariners in 1697 changed the meaning of the term from an assumed impossibility to a metaphor for unexpected events.", "whyItMatters": "Understanding the black swan theory helps in recognizing the limitations of prediction and the importance of preparing for unforeseen events.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/3/30/Black_swan_%28Cygnus_atratus%29_Scottsdale.jpg/1280px-Black_swan_%28Cygnus_atratus%29_Scottsdale.jpg"}, {"id": "33e85ca375bd", "title": "Nassim Nicholas Taleb", "slug": "nassim-nicholas-taleb", "headline": "Nassim Taleb coined the term \"antifragility.\"", "summary": "What Taleb means by antifragility \u2014 systems that get stronger from disorder", "source": "What Taleb means by antifragility \u2014 systems that get stronger from disorder", "sourceUrl": "https://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb", "articleUrl": "https://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, 5, 0, 4, -2, 2, 11, -1, -1, -6, -1, -1, 6, 1, 4, 6, 0, 4, 6, 2, 5, 4, -2, -6, 5, 9, 8, -3, -9, -22, 3, 0, 0, -2, -2, 3, -5, 5, -1, 10, -5, 2, 3, 1, -2, -3, 6, 2, -8, -6, -4, 1, 5, 3, -2, 1, 6, 3, 5, -5, 9, 0, -18, 4, 11, 7, -8, -2, -2, 3, -2, -3, -3, 11, 2, 2, -10, -2, 2, 0, 4, -6, -3, -4, -1, 0, -5, -7, 0, 4, -2, 5, 8, -1, -3, -7, -4, -2, 5, 45, 0, 4, -7, 5, 8, -7, 1, -6, -2, 6, 9, 0, 9, -1, 14, -4, -2, -14, 4, 1, -2, -1, 8, -6, -7, 7, 1, 8, 12, -11, 0, 3, -4, -3, 4, -3, -5, 3, -1, -1, 5, -2, -1, -10, -3, -3, 0, 0, 1, 4, -2, -3, -2, -6, 7, 6, 9, 7, -3, 2, -3, -12, -2, 11, 2, -2, -4, 1, -5, 1, 0, 0, 5, -5, 0, 1, 1, -16, -9, 5, 4, -6, -8, -1, 0, -4, -1, -8, 8, -3, 2, 9, -11, 0, -5, 1, 3, 3, 2, -1, -10, 6, -3, -5, 5, 2, -8, -7, 1, -1, 0, -1, 4, 9, -7, -1, 0, 5, -3, 0, 5, -6, -16, -39, 0, -4, -10, 3, 1, 2, -12, -6, 0, 2, -1, 4, -4, -6, 4, -2, -2, -8, -3, 2, 3, 10, -2, -3, 1, 10, 6, 1, 0, 4, 1, 3, -12, 4, -2, -2, -7, -4, 2, -1, 4, 1, -2, -8, 5, 7, 3, 4, 5, -2, 1, 0, 6, 7, 0, -8, 4, -6, 4, 2, 1, -4, 3, 3, -3, -3, -5, 4, 2, 1, 16, -6, -9, 6, 1, 2, -6, -14, 0, 2, -2, -1, 3, -1, -2, 1, 0, 3, 8, 4, -2, -4, -1, 4, 5, -32, 7, -5, -4, -2, 0, 6, 2, -1, -1, 2, -5, -4, 1, -3, -3, 16, -1, -5, -7, -1, -1, 22, 0, -1, 5, 0, 2, -2, -2, 0, 0, 9, 0, 3, 6, 8, -4, 12, -1, 1, 3, 5, 11, 10, 2, -1, -8, -7, 6, -4, -2, 7, -4, -1, -9, -3, 2, 3, -5, -3, 4, -3, 1, 9], "explanation": ["Taleb's idea of antifragility challenges traditional risk management approaches that aim to minimize uncertainty and avoid disruptions. Instead, antifragile systems are designed to harness the potential of randomness and uncertainty to improve and evolve."], "example": "An antifragile system could be a diversified investment portfolio that gains from market volatility, as opposed to a fragile system that suffers losses during market downturns.", "whyItMatters": "Understanding antifragility helps individuals and organizations develop strategies that not only withstand but also benefit from uncertainty and change.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/9/9b/Taleb_mug.JPG"}, {"id": "ec8dc010b5a3", "title": "Skin in the Game (book)", "slug": "skin-in-the-game-book", "headline": "Nassim Nicholas Taleb's book \"Skin in the Game\" emphasizes shared risk for fairness and efficiency", "summary": "What Taleb means by 'skin in the game' \u2014 decision-makers should bear consequences", "source": "What Taleb means by 'skin in the game' \u2014 decision-makers should bear consequences", "sourceUrl": "https://en.wikipedia.org/wiki/Skin_in_the_Game_(book)", "articleUrl": "https://en.wikipedia.org/wiki/Skin_in_the_Game_(book)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, 3, 0, 2, 3, 3, 12, 0, 6, 5, -3, -4, -1, 7, 3, 3, -3, 0, -3, 5, 3, -1, 0, -8, 1, -5, 0, -7, -7, -22, 2, 3, -1, -4, -1, 0, -1, -1, 5, 3, -8, 3, 0, 5, 6, -5, 3, 3, -9, -9, -1, -2, -2, 3, 6, 3, 13, 6, 6, 8, 7, -3, -18, 7, 9, 2, -7, 4, -5, 0, -4, 1, 6, 6, 1, 3, 2, -4, -6, -2, 1, 7, -2, -5, 0, -5, 0, -4, 3, 6, 6, 0, 0, -3, -5, 1, -2, 1, -2, 47, 0, -4, -7, 4, 8, -5, 4, -10, -2, 5, 3, -2, 4, 1, 10, 10, 2, 0, 7, 3, 0, 5, -3, 3, -5, -5, 7, 15, 2, -9, 2, -3, -7, 2, 2, 1, -9, 7, -6, 5, 3, -1, 2, -8, -3, -3, 10, 1, 2, 6, 1, 1, 0, 6, 3, -4, 4, 4, -6, -3, -2, -9, -5, 13, -8, 0, -3, 2, -3, -3, -5, -1, -9, 5, -2, 3, -3, -8, -3, 3, 7, 0, -2, -3, -3, -2, 1, -1, 8, 3, -4, 5, -6, 2, 3, 0, 1, -13, -5, 3, -15, 1, -3, 2, 4, 4, -3, -11, 13, -5, -4, 6, -5, 7, -4, 0, 9, 9, -7, -4, -1, 3, -10, -39, 3, -4, -4, 1, 4, -2, -12, 2, 11, 10, -5, -3, 2, -1, -3, -8, -2, -6, 0, -6, 3, 4, -3, 6, 2, 13, 6, -5, -1, -1, 6, -1, -10, 3, 0, 0, 0, -10, -4, 2, 5, -2, -3, -8, 5, 1, 0, 4, 4, 6, -6, 3, 0, 5, -5, -6, 10, -4, 4, 3, -1, -3, -6, 10, -5, 0, -5, 2, 3, -2, 4, -2, -13, 2, 8, 13, -3, -9, -3, 9, 0, 0, 6, 3, -7, -1, -5, 8, -1, -4, -1, -3, 5, 3, -3, -31, 3, -4, 0, 0, -3, 1, 1, -2, -2, 8, -3, -6, 0, -1, -5, 10, -9, -1, -4, 6, 1, 23, -2, 3, 5, 5, -10, 6, 1, -2, 2, 10, 4, 0, 6, 0, -6, 8, 2, -2, -4, 12, 3, 8, 5, -10, -6, -4, 1, -4, 2, -2, -9, 2, -3, 0, -3, -2, -5, 2, 2, -5, -3, 7], "explanation": ["Nassim Nicholas Taleb, in his book \"Skin in the Game,\" argues that shared risk is essential for fairness and commercial efficiency. He believes that when decision-makers have skin in the game, they are more likely to make prudent decisions because they bear the consequences of their actions. This concept is rooted in his broader philosophical essay on uncertainty, titled the Incerto."], "example": "A bank manager who invests personal money in a loan portfolio is more cautious and diligent in assessing risks compared to one who only invests company funds.", "whyItMatters": "Taleb's idea of shared risk promotes responsible decision-making and helps prevent reckless behavior that can lead to negative outcomes.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/8/87/WinonaSavingsBankVault.JPG/1280px-WinonaSavingsBankVault.JPG", "imageLicense": "CC BY-SA 3.0", "imageArtist": "Jonathunder"}, {"id": "f157d639042f", "title": "Reflexivity (social theory)", "slug": "reflexivity-social-theory", "headline": "George Soros's reflexivity theory suggests market perceptions can change fundamentals", "summary": "What George Soros's reflexivity theory says \u2014 market perceptions can change fundamentals", "source": "What George Soros's reflexivity theory says \u2014 market perceptions can change fundamentals", "sourceUrl": "https://en.wikipedia.org/wiki/Reflexivity_(social_theory)", "articleUrl": "https://en.wikipedia.org/wiki/Reflexivity_(social_theory)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [5, 4, -2, 0, 5, 7, 5, 10, 2, -6, 6, 6, 4, 0, 1, 5, 5, 2, -8, 3, 4, -11, 3, 0, 4, -3, 5, 2, -6, -19, -2, -5, 3, 5, 7, 0, -1, -2, -4, 6, 0, 2, -7, 3, -8, 1, -3, 3, -10, -6, -5, -1, -4, 2, -2, 9, 1, 7, -5, 2, 7, 6, -25, 5, 7, 3, -6, 2, -8, 5, -6, 3, -1, -2, 7, 0, -4, -2, 0, 1, 6, 7, -8, 0, -3, -2, -4, -5, 7, 3, -2, 2, 2, -1, -2, 3, -4, 5, -5, 43, -1, 6, 1, -5, 5, -1, -4, -1, 6, 13, -1, -6, 2, -8, 3, -1, 2, 3, 6, 0, -4, 7, 1, -5, 0, -10, -3, 11, 0, 0, 1, -2, -5, 2, 3, 4, 1, 4, 3, 10, 1, 4, 1, -3, -10, 7, 3, -3, -6, 6, -2, 6, -5, -6, -2, 4, 3, 5, -7, 2, 0, 5, -6, 7, 5, -2, -4, -3, 4, 3, -3, 4, -3, -2, 7, -1, -2, 6, -3, 1, 7, -7, -7, 3, -6, 1, -4, 0, -2, 3, -2, 6, -12, 1, -2, 1, -7, -2, -5, 3, -12, -1, -13, -8, -2, 4, 2, 7, 8, 0, -2, 6, -11, 10, 5, 1, 3, -1, -8, -1, 2, 5, -12, -42, -2, -7, -3, 5, -9, 8, -1, 5, 10, -1, 0, -2, 0, 2, -5, -5, -8, -1, 5, -15, 8, 3, 2, 7, 1, 14, 5, -7, 9, -4, -6, -6, -12, 9, 8, 10, -6, -3, 0, 5, -1, -3, 5, -9, 4, 4, 0, -1, 7, 5, -5, 8, -2, -2, -9, -4, 0, -6, 7, -4, 8, 3, -6, 1, 1, -3, -5, 0, 4, 1, 10, -7, -5, -3, 3, 2, 0, -6, 3, 2, -3, 0, 7, -4, -6, 6, -8, 2, 1, -7, 5, -7, -3, 8, -4, -30, 2, 0, 8, -2, 0, 3, -4, -12, 3, 2, 6, 15, 3, -3, -5, 7, -11, 3, -3, 5, 1, 23, 1, -5, 1, -1, -2, -5, -6, 7, -6, -2, -3, -2, 5, -5, 4, 5, 3, 3, 0, 2, 2, 5, -4, 0, -7, -3, 10, -2, -5, 3, -1, 5, -1, -5, -2, -2, 1, -3, -2, 3, -6, 13], "explanation": ["George Soros's reflexivity theory posits that market perceptions can significantly influence and alter the fundamental values of assets. This idea challenges traditional economic theories that assume market prices reflect intrinsic values.", "Soros's theory emphasizes the circular relationship between market perceptions and fundamentals, where beliefs and expectations can drive market behaviors, which in turn can reshape the underlying fundamentals. This multi-directional interaction creates a complex and dynamic relationship between market sentiment and economic reality.", "The concept of reflexivity in economics highlights the potential for self-reinforcing feedback loops, where market participants' actions based on their perceptions can lead to significant deviations from fundamental values. This understanding is crucial for investors and policymakers to recognize the potential for market distortions and the importance of managing expectations."], "example": "During the 1997 Asian Financial Crisis, market perceptions of Asian currencies being overvalued led to massive sell-offs. This self-reinforcing feedback loop caused the currencies to depreciate further, ultimately altering the economic fundamentals of the affected countries.", "whyItMatters": "Understanding Soros's reflexivity theory is essential for investors and policymakers to recognize the potential for market distortions and the importance of managing expectations.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Gold_Dor%C3%A9_Bar.jpg/1280px-Gold_Dor%C3%A9_Bar.jpg", "imageLicense": "CC BY 4.0", "imageArtist": "Dave Craw, Christine McLachlan, Marianne Negrini and Noel Becker"}, {"id": "6be5db85b4c9", "title": "Stock", "slug": "stock", "headline": "A single share represents fractional ownership of a company", "summary": "What a stock represents \u2014 fractional ownership of a company", "source": "What a stock represents \u2014 fractional ownership of a company", "sourceUrl": "https://en.wikipedia.org/wiki/Stock", "articleUrl": "https://en.wikipedia.org/wiki/Stock", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, -4, -3, -4, -4, 0, 11, -3, 13, 0, 2, -1, 3, -2, -2, 2, -3, -7, -2, 0, 5, -16, -3, -2, 8, -9, 0, -1, -7, -25, 4, -4, 5, 2, 2, 1, -4, 3, -1, 0, -3, 7, 9, 4, -5, 0, 0, -4, -2, 3, 4, 4, 1, 1, -8, 3, 4, 10, 3, 5, 9, -2, -18, 3, 6, 2, -2, 0, -4, 2, 7, -6, -2, 7, 2, -4, 6, -1, -6, 3, -6, 3, -6, 1, -2, 1, 8, -7, 14, -1, 1, 1, 2, 0, 0, 7, 3, 0, -3, 44, 7, 10, 4, 2, 3, -2, -3, -1, 8, -3, -2, 3, -2, -11, 0, -2, 1, 4, 9, -4, -5, 2, 0, -3, -5, 1, 7, 10, 2, 5, -1, 0, -4, -5, 1, 3, -1, 0, -3, 6, -5, -7, 0, -7, -8, 18, 1, -8, -5, 10, -15, 8, 5, -8, -1, 3, 1, -3, -2, -4, 2, -6, -5, 12, 1, -12, -4, 10, -4, -5, -1, -2, -1, 0, 4, 3, -4, -7, 1, -1, 7, -8, -4, 3, 5, 2, -9, -6, 3, 1, 2, 8, -8, -1, -2, -1, 2, 1, 1, -3, 1, 4, -8, 1, -3, 0, 5, 0, 8, 0, -6, 6, -2, 3, 7, -3, -2, 3, 7, -1, 1, -9, -1, -33, -7, -7, -12, -2, 3, -3, 5, -5, -4, 5, -5, -7, -8, -4, 1, -2, 6, -9, -3, -4, 0, -3, -1, 14, 4, 14, -1, 6, 4, -1, -2, -4, -4, 3, -3, -4, -8, -9, -1, -5, -8, -6, 0, 11, 0, 3, 1, -1, 7, 3, -9, 2, 11, 8, -6, -2, 1, 2, 5, 2, -5, 1, 1, 4, -5, -7, -8, 2, 2, -3, 4, 0, -3, 6, 0, 0, -1, 2, 8, 2, 3, 3, 10, 2, 4, 8, -1, 1, -4, -2, 0, 2, 0, 0, -6, -37, 3, 1, 6, 5, 3, 0, 4, -14, 4, -2, 3, 12, -6, -2, 0, 10, -4, 8, -1, 10, 2, 23, 1, -4, -2, 1, 4, -8, 0, 11, -4, 8, -8, -2, 1, -2, 3, 7, 4, 0, -4, -5, 6, 5, -8, 3, -9, -4, -3, -1, 4, -3, -4, -1, -7, 1, 4, 0, -2, -4, 4, -2, 8, 10], "explanation": ["Owning a share means you own a fraction of the company. This fraction entitles you to a portion of the company's earnings, liquidation proceeds, and voting power. The number of shares you own determines your stake in the company."], "example": "If a company has 1,000 shares and you own 10 shares, you own 1% of the company.", "whyItMatters": "Understanding fractional ownership helps investors know their stake and potential returns in a company.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/1/1e/Vereinigte_Ostindische_Compagnie_bond_-_Middelburg_-_Amsterdam_-_1622.jpg"}, {"id": "1d65ee37de98", "title": "Bond", "slug": "bond", "headline": "Bonds pay interest to investors", "summary": "What a bond is \u2014 a loan to a government or corporation that pays interest", "source": "What a bond is \u2014 a loan to a government or corporation that pays interest", "sourceUrl": "https://en.wikipedia.org/wiki/Bond", "articleUrl": "https://en.wikipedia.org/wiki/Bond", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -4, 0, -2, 6, 0, 16, -1, 0, 4, 7, 2, 4, -5, -6, -4, -6, -4, -6, 11, 12, -6, -2, -6, 13, 0, 0, -3, -6, -8, -4, 4, 0, 4, 5, 5, -5, 3, -4, 3, -1, 1, -1, -2, 2, -3, -2, -1, -1, 2, 0, -4, -5, 3, -8, 8, -2, 6, 3, -2, 2, 3, -18, 5, 2, 7, 9, 2, -13, 7, 6, -1, -3, -4, -7, -5, 1, 1, 2, 6, -1, -6, 1, 2, -4, -4, -1, -3, 9, 4, -6, -1, -1, -3, -9, 0, 2, 4, -17, 43, 1, -2, 1, 0, 8, -8, -4, 3, -1, -2, -1, 3, 1, -3, -4, -3, -2, 5, 3, -3, -1, 4, -2, 5, 0, -3, -3, 3, 7, 5, 1, -1, -9, -1, 6, 7, -2, -3, -3, 3, -9, -4, -3, -4, -15, 0, 10, 4, -7, 11, -4, 13, -1, -6, 8, 0, 9, -2, 3, -6, 0, -5, -10, 6, 9, -15, 1, 0, -1, -2, 6, 1, 2, -1, 4, 2, -3, -5, 1, 0, 0, -4, -8, 6, 5, 7, -15, -10, -2, -7, -4, 9, -7, 11, -11, -2, 1, 2, -4, -3, 1, 8, -10, 2, -1, 3, 1, 3, -3, 1, 3, 9, 8, 1, -4, -4, 3, 8, 0, -3, -1, -10, 19, -35, -7, -6, -3, 2, 1, -1, -4, -13, -1, -4, -8, -1, 4, 2, 3, 3, 1, -2, -1, -2, -3, -4, 6, 2, 2, 14, -1, 0, 12, 5, 1, 0, -8, 0, -4, 9, 6, -12, -4, -1, -4, -3, 8, 3, 5, -1, -4, 0, -2, 3, -2, -7, 6, 8, 4, -4, -2, -3, -4, 5, -3, 9, -6, 4, -7, 1, 7, 0, 0, -1, 9, 0, -4, 3, 5, -2, 3, 1, -1, -1, 1, 3, 5, 0, 1, 2, 3, 4, -4, 0, 3, -4, 2, 5, -1, -34, -1, 6, -4, -6, 4, 2, -2, -13, 9, 4, -1, 0, -4, -3, -2, 14, -8, 7, -6, 8, 1, 20, 0, -2, -6, -7, 8, 13, 6, 8, 5, -2, -7, 3, 2, -3, 5, -1, 2, -6, 2, -5, -3, 4, 1, -1, -6, 6, 4, 3, 0, 2, -2, -2, -6, -6, 0, 13, 8, -8, -1, 3, 9, 1], "explanation": ["Bonds are essentially loans made by investors to governments or corporations. In return for lending money, investors receive interest payments over time. These interest payments are typically made semi-annually or annually."], "example": "An investor buys a bond for $1,000 with a 5% annual interest rate. Over a year, the investor receives $50 in interest payments.", "whyItMatters": "Understanding bonds and interest payments is crucial for investors seeking stable income streams and for entities looking to raise capital.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/1/1e/Vereinigte_Ostindische_Compagnie_bond_-_Middelburg_-_Amsterdam_-_1622.jpg", "imageLicense": "Public domain", "imageArtist": "Jacob Cornelisz. van Neck (Necq)"}, {"id": "127a68f630ca", "title": "Yield curve", "slug": "yield-curve", "headline": "Yield curves show interest rates across different maturities", "summary": "What the yield curve shows \u2014 interest rates across different bond maturities", "source": "What the yield curve shows \u2014 interest rates across different bond maturities", "sourceUrl": "https://en.wikipedia.org/wiki/Yield_curve", "articleUrl": "https://en.wikipedia.org/wiki/Yield_curve", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-2, -1, -7, 4, 2, -1, 5, 2, 5, -4, 6, 1, 3, 2, -5, -1, -5, -3, 0, 1, 14, -6, -1, -6, 10, 8, -2, -4, -5, -27, 3, 5, 2, -1, -1, 0, -4, 10, -4, 1, -1, -1, 1, -4, 3, -6, -4, 4, 3, -1, 3, -7, 2, 2, -8, 5, 4, 8, -1, 0, 2, 4, -19, 1, 7, 4, 2, 8, -5, -3, 8, -1, -4, -1, 0, -3, 4, 1, -6, 3, 1, 0, -7, -3, 0, -5, 1, 1, 8, 1, 2, -3, -8, -1, -8, 3, 11, 4, -8, 42, 0, 1, 0, 5, -3, -5, -1, -3, 1, 0, -1, 1, 3, -5, -1, -5, -4, 1, 9, -6, -2, 8, 1, 1, -3, -2, -4, 5, 4, -3, -2, -4, -7, 1, -1, 1, -5, 1, 2, -2, -7, 0, 4, -5, -10, 12, 3, 9, 4, 7, 1, 10, -1, -7, -3, 1, 1, 1, -1, 1, -4, 0, -9, 13, 6, -6, 5, 5, 2, -9, 4, 2, -2, -9, 2, -3, -2, -7, -2, -2, 3, 0, -9, 10, 0, -1, -10, -5, 2, -7, -5, -8, -10, 13, -6, 0, -3, 12, -12, -5, 5, 6, 0, 8, -3, 3, 0, 0, 5, 6, 4, -1, 6, 4, -5, -1, 4, 6, -1, 1, 0, -2, 5, -43, -9, 3, -3, 9, -4, 2, 1, -3, 2, -5, 1, -8, -9, 5, 0, -1, 1, -4, 0, -5, -4, -5, 0, 5, -2, 16, -10, -1, 8, 0, -7, -2, 0, 4, 0, 8, -2, -7, -10, -1, 2, -1, 2, -2, -8, 1, 2, -4, 9, 4, -7, 2, -2, 12, -4, -6, 0, -3, 3, 4, 4, 10, -2, 2, 1, -5, -7, -1, 2, -1, 6, -2, -11, -2, 4, 0, 2, -7, -1, 7, 1, 6, 2, -3, -3, 4, 0, 6, 3, 0, -10, 2, 3, 0, 2, -32, -2, -1, 1, 0, -3, 12, -1, -2, 5, -7, 4, 8, -3, 1, 3, 12, -6, 8, -1, 4, 2, 22, -1, -7, -1, -2, 7, 17, 0, 9, 1, -2, -4, 1, 14, -7, 10, 11, 1, 3, 1, -15, -3, 3, -3, -2, -1, 9, -1, 3, -4, -2, 1, 5, -2, -7, 2, 1, 3, -4, -5, -1, -1, 0], "explanation": ["A yield curve illustrates the relationship between yields and time to maturity for debt securities, allowing investors to compare interest rates for bonds with different maturities. This comparison helps investors understand the market's expectations for future interest rates and economic conditions."], "example": "The U.S. Treasury yield curve compares the yields of 10-year Treasury bonds with 3-month Treasury bills, showing the term spread between long-term and short-term interest rates.", "whyItMatters": "Understanding the yield curve helps investors make informed decisions about bond investments and assess economic trends.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/a/a7/Yield_curve_20180513.png"}, {"id": "cf4535ec9b52", "title": "Inverted yield curve", "slug": "inverted-yield-curve", "headline": "Short-term rates exceed long-term, often predicts recession", "summary": "What an inverted yield curve signals \u2014 short-term rates exceed long-term, often predicts recession", "source": "What an inverted yield curve signals \u2014 short-term rates exceed long-term, often predicts recession", "sourceUrl": "https://en.wikipedia.org/wiki/Inverted_yield_curve", "articleUrl": "https://en.wikipedia.org/wiki/Inverted_yield_curve", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -4, 0, 7, 8, 0, 0, 1, 2, -2, 2, 3, 0, 3, 3, -1, -1, -1, 2, 2, 14, -2, 2, -2, 12, 5, -2, -5, -4, -22, 0, 4, -2, 1, 5, 0, -8, 5, 2, 10, -4, -2, -3, -4, -3, -8, -1, -4, -3, -2, 2, 0, 1, 1, -1, 3, 1, 9, 0, 1, 5, 4, -21, -2, 2, 8, 1, 6, -5, 1, 4, 1, -6, -2, 3, 3, 1, 2, -2, 0, 12, 0, -1, -9, 0, -8, 0, -3, 9, -1, -2, -5, -3, 3, -6, 3, 6, 2, -6, 45, -5, 5, -3, 6, 4, -3, -1, 2, 2, -1, -1, -2, 6, -1, -1, -10, -1, 3, 3, -1, -1, 4, 6, 1, -5, -4, 2, 10, 4, -6, 0, -2, -13, 4, -7, -4, -1, 7, -1, -2, -5, 0, 5, 1, -7, 12, -1, 1, 2, -2, -11, 8, 1, -10, 1, 11, 3, 3, 0, 1, -9, 1, -9, 4, 2, -4, -1, 3, -3, -4, 3, -7, 0, -9, 7, 6, -2, -8, -9, -1, 4, -10, -4, 3, 2, 2, -8, -2, 4, -4, -7, -7, -13, 5, 0, 4, 3, 11, -4, -9, -2, 2, 1, 7, 3, 2, 2, -3, 9, -4, 8, -2, 11, 6, -3, 2, -4, 6, -1, -1, 4, -3, 1, -39, -7, 2, -1, 13, -8, 8, -5, 4, -2, -5, 1, -7, -8, 5, 1, 0, -5, -4, 4, -5, 1, -2, -2, 0, -1, 10, -7, 1, 4, 2, -5, 3, 3, 8, 3, 9, -9, -12, -2, -10, -7, -2, 0, -6, 0, 3, 3, 0, 7, 4, -7, 6, 3, 11, -6, -4, -3, -1, -6, 7, -2, 2, -1, -1, 7, -1, -6, -3, 8, 0, 19, -7, -9, -6, 0, 0, -8, -10, -2, 7, -3, 8, 7, -4, 0, 5, -2, 4, 4, -3, -2, 3, -2, 1, -4, -34, -2, -7, 1, 0, 5, 6, 5, -1, 0, -11, 1, 7, -3, 3, 0, 14, -6, 10, -2, 3, 5, 22, 4, 3, 0, -2, -1, 12, -8, 7, 4, 2, -4, 7, 6, 0, 4, 11, -2, 2, -3, -4, 0, 6, -5, -6, -4, 1, 0, -2, 2, -3, 2, 2, -1, -10, 1, 6, -1, 4, -9, 3, 1, 1], "explanation": ["An inverted yield curve occurs when short-term debt instruments yield more than long-term bonds. This phenomenon is unusual because bonds with shorter maturities typically offer lower yields than longer-term bonds. To confirm an inverted yield curve, compare the yield on a 10-year U.S. Treasury bond to a 2-year Treasury note or a 3-month Treasury bill. If the 10-year yield is less than either the 2-year or 3-month yield, the curve is inverted."], "example": "If the yield on a 10-year U.S. Treasury bond is 2%, while the yield on a 2-year Treasury note is 2.5%, the yield curve is inverted.", "whyItMatters": "Understanding an inverted yield curve is crucial as it often signals an impending recession.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/4/46/Inverted_Yield_Curve_graph.webp/1280px-Inverted_Yield_Curve_graph.webp.png"}, {"id": "768ac36d074e", "title": "price-to-earnings (P/E) ratio tells you", "slug": "price-to-earnings-p-e-ratio-tells-you", "headline": "Ever wondered how much you're paying for a company's earnings?", "summary": "What price-to-earnings (P/E) ratio tells you \u2014 how much investors pay per dollar of earnings", "source": "What price-to-earnings (P/E) ratio tells you \u2014 how much investors pay per dollar of earnings", "sourceUrl": "https://en.wikipedia.org/wiki/Price%E2%80%93earnings_ratio", "articleUrl": "https://en.wikipedia.org/wiki/Price%E2%80%93earnings_ratio", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -6, -6, -5, 5, -1, 9, 1, 11, 6, 6, -5, -2, 1, 1, -3, -2, -11, -7, 9, 8, -8, 1, -1, 10, 4, -1, 4, -8, -16, 3, -3, 10, -3, 0, 8, -9, 2, 5, 3, -7, -2, 1, -7, 7, 0, -2, -2, -5, 7, 0, 0, 0, -1, -5, -2, 0, 10, 0, -4, -6, 2, -19, 2, -5, 0, -6, 2, -13, 3, 2, 2, -10, -9, -1, -8, 10, 4, -1, 0, 3, 5, -8, 2, -4, 3, 12, 8, 16, -1, -4, 4, -6, -6, 1, 7, 2, -2, -5, 43, 1, 4, 3, -5, 2, -6, -4, 10, 0, 2, -1, 3, 0, -7, -6, 4, -2, 3, 11, -3, -3, 3, 0, 1, 3, -10, 12, 11, 1, 10, -2, -4, -12, 2, 6, 5, 5, -2, 5, 8, -1, -2, 1, -6, -9, 15, 1, -4, 1, -6, -4, 7, -12, -11, 3, 3, 7, -1, -2, -8, -4, -7, -6, 5, 4, -9, -5, 6, 2, -13, -5, -1, -7, -2, 8, -4, -2, 1, 3, 4, 7, -4, -1, 5, 0, -5, -11, -5, -2, 2, 3, -4, -12, 15, -3, 3, 2, 11, -6, -1, 3, 0, -9, 5, -9, 8, 4, 1, 9, 2, 2, 5, -1, -2, -1, 2, 4, 7, 2, 0, 0, -6, 3, -32, -4, -4, -3, 2, -3, -2, 4, 3, 7, 7, 0, 0, -3, 3, 6, 0, -5, -2, 2, 1, -2, -9, 4, 11, 5, 8, -1, -2, -5, 3, -5, -1, -3, 3, -3, 1, -5, -6, -3, -8, -11, -10, -3, -5, 2, 5, 5, 0, 5, 1, -1, 4, 4, 7, -7, -3, -1, -5, -4, 7, -12, -3, 0, 8, -10, -5, -5, 4, 6, 2, 12, 3, 3, 2, 1, 7, -2, 3, -1, 2, 1, 1, 3, 6, 8, 1, -4, 5, 2, -11, 3, -7, -2, -7, -2, -28, 2, 2, 8, 5, 7, 6, -3, -8, 2, 8, -7, 5, -1, 2, -5, 4, -12, 6, 3, 8, -5, 21, 0, -3, -4, -4, 2, 7, 6, 3, -7, -2, -6, 0, 2, -3, 6, 0, 4, 11, -7, -4, 4, 9, 1, -4, -5, 1, -5, 3, -2, 4, -1, -6, 6, -11, 0, 7, -3, -7, 5, 7, 4, 4], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/f/f7/30_year_mortgage_calculator.webp/1280px-30_year_mortgage_calculator.webp.png", "imageLicense": "CC0", "imageArtist": "Wikideas1", "explanation": ["Imagine you're buying a house and want to know if it's a good deal. You compare the price to the expected income from renting it out.", "Think of the price-to-earnings (P/E) ratio as a way to compare the price of a company's stock to its earnings. It's like checking if you're getting a good deal on that house by comparing its price to the rent you'd earn."], "example": "If a company's stock is 100 and its earnings per share are 10, the P/E ratio is 10 (100/10).", "whyItMatters": "The P/E ratio helps you decide if a stock is overvalued or undervalued by comparing its price to the earnings it generates."}, {"id": "3496bb65707d", "title": "Cyclically adjusted price-to-earnings ratio", "slug": "cyclically-adjusted-price-to-earnings-ratio", "headline": "Price-to-Earnings Ratio (P/E) measures market value relative to earnings", "summary": "What price-to-book (P/B) ratio measures \u2014 market value relative to book value of assets", "source": "What price-to-book (P/B) ratio measures \u2014 market value relative to book value of assets", "sourceUrl": "https://en.wikipedia.org/wiki/Cyclically_adjusted_price-to-earnings_ratio", "articleUrl": "https://en.wikipedia.org/wiki/Cyclically_adjusted_price-to-earnings_ratio", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, 1, -6, -6, 0, -3, 6, 3, 11, 6, 0, -8, 2, 3, -2, -5, 2, 1, -8, 11, 6, -4, 1, 1, 14, 9, -4, -3, -9, -20, 7, -2, 3, -2, 1, 3, -3, -1, 4, 5, -7, 2, -3, -1, 7, -4, -5, 0, -9, 3, 1, -1, -1, 5, -6, 7, -2, 10, 2, 1, 0, 2, -25, 0, 5, 0, -7, 5, -12, 1, -1, 3, -3, 3, 0, -4, 3, -4, -3, -4, 2, 6, -6, 0, 0, 3, 6, 1, 10, 1, -2, -3, -7, 3, 5, 2, -1, -3, -1, 48, -2, 6, -7, -3, 4, -11, 1, -1, -4, 1, 1, -1, 0, -10, -5, 3, -3, 3, 12, -5, -2, 6, 1, -1, 0, -4, 12, 10, 2, 3, 1, -4, -14, -3, 1, 3, -1, 0, 8, 9, -2, -1, 1, -6, -6, 16, 2, 1, 0, -2, -4, 7, -2, -7, 1, 3, 0, 0, 1, -11, -4, -2, -9, 9, -3, -3, -2, 2, -9, -1, -6, -4, -5, -2, 10, 1, 3, -2, -1, 4, 9, -4, -8, 2, 1, -1, -13, -4, 3, 7, 2, -1, -7, 7, 3, 2, 2, 7, -11, -1, 3, 0, -12, 6, -4, 3, -1, -3, 8, 2, 0, 1, -6, 2, -4, 3, 2, 6, 3, 5, -4, -3, 4, -33, -1, -2, -6, 4, -3, -6, 2, -1, 6, 7, -9, -4, 1, 1, 2, 0, -5, -5, 1, -1, 0, -11, 3, 14, 2, 7, -9, 3, 1, -7, 3, -1, -1, 1, -5, -2, 2, -10, 0, -5, -6, 0, -3, -2, 4, 14, 0, 0, 11, -1, -3, 3, 5, 4, -10, -1, 0, -5, -4, 3, -7, 4, 5, 2, -9, 0, -2, 1, 9, 1, 5, -4, -3, 1, 5, 4, 2, 2, -3, 3, 2, 4, 0, 9, 5, 3, -5, 2, 1, -15, 0, -7, 0, 0, 2, -35, 4, 1, 9, -2, 3, 1, 1, -9, -2, 2, -5, 5, -7, -5, 0, 10, -10, 9, 5, 0, 0, 23, 8, -5, -6, 2, 2, 4, 8, 5, -2, 7, -4, 2, 7, -4, 3, 3, 0, 7, 0, -8, -2, 11, 3, -7, -5, 3, -3, 1, 3, 2, 2, 0, 6, -10, 1, 1, -1, 0, 4, 3, 4, 3], "explanation": ["The price-to-earnings ratio (P/E) is a fundamental valuation metric used to compare the market value of a stock to its earnings. It helps investors determine if a stock is undervalued or overvalued by comparing its current price to its earnings per share.", "The P/E ratio is calculated by dividing the current market price of a stock by its earnings per share (EPS). A higher P/E ratio indicates that investors are willing to pay more for each dollar of earnings, suggesting optimism about the company's future growth prospects.", "Investors use the P/E ratio to assess whether a stock is fairly valued, overvalued, or undervalued. A lower P/E ratio may indicate that a stock is undervalued, while a higher P/E ratio may suggest that it is overvalued. However, it is important to consider other factors and metrics when making investment decisions."], "example": "If Company A has a market price of $50 per share and an EPS of $2, its P/E ratio would be 25 ($50/$2). This means investors are willing to pay $25 for each dollar of earnings.", "whyItMatters": "Understanding the P/E ratio helps investors make informed decisions about stock valuation and potential investment opportunities.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/e/ea/S%26P_500_Shiller_P-E_Ratio.png/1280px-S%26P_500_Shiller_P-E_Ratio.png"}, {"id": "1b4049dff350", "title": "Earnings per share", "slug": "earnings-per-share", "headline": "Earnings per share (EPS) = Net income / Shares outstanding", "summary": "What earnings per share (EPS) measures \u2014 net income divided by shares outstanding", "source": "What earnings per share (EPS) measures \u2014 net income divided by shares outstanding", "sourceUrl": "https://en.wikipedia.org/wiki/Earnings_per_share", "articleUrl": "https://en.wikipedia.org/wiki/Earnings_per_share", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, -7, 2, 0, 8, 0, 6, 2, 12, -4, 8, -4, -2, 1, 0, -1, -6, -9, -7, 9, 11, -9, -2, -2, 17, 6, -6, -4, -8, -23, -2, -3, 2, -3, 3, 2, -8, 6, -8, 4, -5, 3, -2, -3, -1, -3, -7, -1, 0, 7, 5, -6, 3, 6, 3, -2, 3, 2, -1, 1, 2, 2, -21, -2, 7, -5, -3, 4, -11, 8, -1, 0, -5, 2, 0, -6, 10, -3, -5, -3, -4, 9, -7, 0, 1, 4, 13, -2, 13, -1, 1, 4, -3, -4, 0, 2, -2, -5, 1, 47, 6, 1, 4, -4, -4, -4, 4, 12, 1, 5, 1, -5, 0, -7, -4, -1, -1, 5, 7, -8, -2, 5, -3, 1, -4, 2, 9, 8, -2, 7, -1, 2, -3, 2, 5, 5, 6, -2, 3, 11, 2, 2, -2, -2, 3, 16, -7, 4, 2, -3, -6, 7, -7, -12, 2, 1, 1, -6, -2, -7, -1, -7, -6, 17, 4, -7, -4, 9, -5, -8, 0, 1, -2, -6, 3, 6, 3, -2, 0, -1, 11, -11, 0, 6, 12, -1, -9, 0, 1, -2, 4, 3, -10, 8, -4, 2, 3, 5, -8, -4, 5, -2, 0, -5, -7, 5, 0, -1, 8, 0, -6, 7, -2, 0, -3, -5, 3, 6, 0, 5, 3, -8, 2, -33, -6, 4, 1, 1, -2, -7, 3, 4, 0, 9, -3, -5, -5, 5, 4, -7, -3, -3, 2, -1, -4, -3, -1, 12, 5, 10, -2, 12, -1, -9, 7, -1, -5, -1, -5, -7, -9, -12, -8, -8, 1, 0, -4, 10, -2, 4, -1, 0, 8, 2, -9, 1, 6, 5, -7, -9, -1, -5, -1, 13, -7, -1, -5, 2, -1, -5, -2, -2, 1, 4, -1, -5, 1, -3, 3, -1, 0, 3, 1, 4, -2, -1, 7, -3, 3, 2, 5, 2, -1, -1, 4, -5, 0, -1, 2, -34, 3, 5, 2, -2, 2, -2, 0, -12, 4, 7, 2, 9, -6, 0, 2, 6, -8, 3, 6, 9, 2, 23, -4, 1, -5, -1, -1, 3, 1, 6, 1, 7, -5, -2, 6, -3, 6, -2, 0, -3, -2, -5, 2, 8, -2, -1, -1, 4, -3, -2, -1, 2, 3, 0, -5, -3, -1, -1, -4, -8, -1, -3, 2, 1], "explanation": ["Earnings per share (EPS) is a crucial metric for assessing a company's profitability, as it divides net income by the number of shares outstanding. This calculation provides insight into how much money each share of stock earns, making it a valuable tool for investors.", "In the United States, the Financial Accounting Standards Board (FASB) mandates that EPS information be reported for various income statement categories, including continuing operations, discontinued operations, extraordinary items, and net income. This comprehensive reporting ensures that investors have a clear understanding of a company's financial performance across different segments."], "example": "If a company has a net income of $1 million and 100,000 shares outstanding, its EPS would be $1 million / 100,000 shares = $10 per share.", "whyItMatters": "Understanding EPS helps investors evaluate a company's profitability and make informed decisions about buying or selling its stock.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Form_1040%2C_2024.pdf/page1-960px-Form_1040%2C_2024.pdf.jpg", "imageLicense": "Public domain", "imageArtist": "United States Internal Revenue Service"}, {"id": "199238f230b8", "title": "free cash flow tells you", "slug": "free-cash-flow-tells-you", "headline": "Ever wonder how much cash a company really has left after all its big purchases?", "summary": "What free cash flow tells you \u2014 cash generated after capital expenditures", "source": "What free cash flow tells you \u2014 cash generated after capital expenditures", "sourceUrl": "https://en.wikipedia.org/wiki/Free_cash_flow", "articleUrl": "https://en.wikipedia.org/wiki/Free_cash_flow", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [2, -4, -2, -6, 4, 1, 6, -2, 6, -1, 6, 0, -3, -4, 1, 5, 2, -8, -10, -5, 2, -9, 4, -3, 5, -1, -4, -7, 0, -21, -2, 0, 7, -4, 8, 6, -3, 6, 4, 4, -8, 8, 2, -3, 4, -1, 10, -1, 3, 8, -1, -2, -1, 2, -6, 3, 6, 5, 6, -4, 6, -4, -18, -6, 3, 8, -5, 2, -3, 2, 5, -6, -8, -2, 6, -6, 4, 9, -5, 3, 0, 6, 3, 6, -8, 5, 5, 5, 10, -8, -3, 8, -5, 2, -5, 7, 4, 2, 0, 44, -1, 4, -2, -8, 1, 1, 1, 8, 4, 1, 0, 5, 11, -2, -4, -1, -3, -1, -1, 3, -2, 4, 3, 0, -5, -4, 2, 10, -2, -3, -3, 0, -14, 5, 2, -7, 0, 7, 1, 2, -1, 6, -6, -11, -11, 13, 10, 4, 6, -4, -5, 5, 4, -14, 5, 3, 4, 3, -1, 2, -10, -4, -6, 6, 2, -12, -5, 1, 4, 1, -10, -5, -9, -8, 10, -11, -14, 0, 0, 7, 1, -5, -3, -2, -3, -5, -9, -2, 2, 5, -1, 0, -5, 9, -6, 0, -3, 6, 3, -3, -6, 2, -3, -1, -15, 10, 5, -3, 17, 7, 0, 7, 7, -2, 1, 1, 2, 8, -9, 1, 3, -5, 0, -37, 8, 1, -5, 4, -10, 1, -4, -1, 0, -1, -3, -2, 1, 4, -1, -4, 0, -7, 1, -5, 0, -7, -7, 0, -1, 18, -7, -1, 0, 4, 4, 2, -9, 7, 0, -6, -5, -6, 1, -1, -4, -9, 3, 3, 2, -4, -2, 0, 8, 4, 2, 1, 3, 7, -7, -2, 2, -6, 2, 0, 8, -2, 3, 5, -1, -8, -3, 0, -3, 3, 10, -2, -11, 12, 0, 7, -3, -7, 2, 3, -2, 4, 9, -7, 6, 0, -8, 0, -3, -3, 4, 1, -8, 5, 3, -25, 1, -1, 4, 4, 4, 1, 4, 1, 4, 4, -2, 11, -2, 5, -3, 10, -9, 7, 1, 7, -2, 16, 3, -3, -3, -8, 4, 13, -2, 0, 2, 9, -5, -2, 0, -11, 12, -3, 7, 5, -9, -1, -2, 6, 1, -3, -8, -3, 3, -3, 2, 4, 3, 7, -2, -9, -5, 10, 3, -8, -7, -1, 4, 0], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/3/3a/GenesisO2260322_%2825_of_42%29_%2851963769485%29_%28cropped%29.jpg/1280px-GenesisO2260322_%2825_of_42%29_%2851963769485%29_%28cropped%29.jpg", "imageLicense": "CC BY 2.0", "imageArtist": "Raph_PH", "explanation": ["Imagine you're planning a big party. You have to buy decorations, food, and drinks. After all these expenses, how much money will you have left for entertainment?", "Free cash flow is like the money you have left after buying everything for your party. It's the cash a company has after paying for new equipment and other big expenses."], "example": "A company earns 100,000, spends 30,000 on new machines, and 20,000 on other expenses. Free cash flow is 50,000.", "whyItMatters": "Free cash flow shows how much money a company has after covering its big investments."}, {"id": "670f3d7825fa", "title": "EBITDA measures", "slug": "ebitda-measures", "headline": "Ever wonder how a company's profit looks without debt and taxes?", "summary": "What EBITDA measures \u2014 earnings before interest, taxes, depreciation, and amortization", "source": "What EBITDA measures \u2014 earnings before interest, taxes, depreciation, and amortization", "sourceUrl": "https://en.wikipedia.org/wiki/Earnings_before_interest_and_taxes", "articleUrl": "https://en.wikipedia.org/wiki/Earnings_before_interest_and_taxes", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [-11, -2, 7, -3, 10, -2, 9, 2, 7, 6, 4, 5, -6, 3, -3, -4, -4, -1, -6, 1, 8, -11, 1, 4, 12, -1, -1, 0, -5, -16, 5, -1, 8, -2, 6, 4, -6, 8, 1, -1, -2, 5, -4, -4, 0, -5, 5, -5, -5, 10, 1, -6, 7, -2, 4, 2, -4, -1, -4, -2, 5, -6, -12, 2, 7, 6, -3, 8, -7, 7, 3, 0, -4, 3, -2, 0, 7, 5, -6, 1, -6, 5, 0, 11, -7, 1, 7, 3, 14, -1, -9, 2, -2, -5, -1, 2, 0, 5, -7, 46, 1, 6, -1, -4, -1, -9, -3, 8, 3, -3, 1, -2, 9, -7, -3, -6, -2, 4, 9, -5, -3, 4, 4, -1, 2, -5, 0, 11, -4, 3, -2, -2, -8, 3, -3, 1, 6, 1, 3, 5, -5, 6, -2, -6, -5, 2, 10, 3, -3, -2, -3, 5, -1, -12, 6, 2, -1, -2, -3, -2, -5, -3, -15, 12, -5, -10, -5, 7, -3, 0, -1, -3, -3, -12, 9, -3, -1, -1, -5, -3, 7, -3, -6, 0, 8, 0, -6, -7, -2, 0, -5, -3, -15, 11, 1, 1, 2, 1, -15, -7, 7, 4, -1, 7, 2, 2, 0, 4, 17, 6, -7, 5, 6, 4, 2, -6, 5, 4, -6, 3, 2, -4, 5, -35, 2, -11, 4, -4, -12, 4, -1, 2, 5, 3, 0, -3, 2, 1, 2, -5, -2, -6, 1, -4, 1, 4, 0, 6, -8, 11, -7, 7, -1, -6, 12, -8, -6, 6, -4, 0, 3, -4, -5, -5, -3, -4, 3, -3, 2, -1, 4, -1, 2, 4, -6, -2, 2, 7, -4, -10, 2, -13, -6, 6, -2, -3, -3, 2, -2, -7, -1, 3, -3, -5, 8, -3, -11, 4, -1, 7, -2, 2, 5, 0, 6, 9, 2, -1, 8, 7, -3, 0, 1, 2, 3, -2, -6, 9, 5, -27, -5, 0, -4, -2, 5, 2, -4, -5, -1, 2, 0, 9, -13, 1, 1, 6, -2, 6, -4, 2, -3, 21, 2, -5, -1, 5, 1, 5, 6, 11, 6, 16, -2, 1, 8, -6, 7, -1, 0, -3, 0, 2, -1, 6, 9, -5, -3, 5, -6, 0, 0, 4, 5, -9, -1, -8, -8, -1, -5, -9, 3, -7, 1, -4], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/c/cf/Casio_calculator_JS-20WK_in_201901_002.jpg/1280px-Casio_calculator_JS-20WK_in_201901_002.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Mc681", "explanation": ["Imagine you're running a lemonade stand. You sell lots of lemonade and make a good profit, but you also have to pay for your stand's equipment (depreciation) and the cost of the lemons (amortization). You don't want to worry about interest on a loan you took to buy a fancy lemonade machine or taxes on your earnings.", "Think of EBITDA as your lemonade stand's profit minus the cost of your fancy machine and lemons, but before you pay interest and taxes. It's like seeing how much money you really made without those extra costs and taxes."], "example": "You sold 100 worth of lemonade. You spent 20 on lemons and 10 on your fancy machine. So, your EBITDA is 70 (100 - 20 - $10), showing you made that much profit without considering interest and taxes.", "whyItMatters": "EBITDA gives you a clearer picture of your business's true profitability by removing debt and tax impacts."}, {"id": "4e31a3505d1d", "title": "Market capitalization", "slug": "market-capitalization", "headline": "Market capitalization = share price \u00d7 shares outstanding", "summary": "What market capitalization equals \u2014 share price \u00d7 shares outstanding", "source": "What market capitalization equals \u2014 share price \u00d7 shares outstanding", "sourceUrl": "https://en.wikipedia.org/wiki/Market_capitalization", "articleUrl": "https://en.wikipedia.org/wiki/Market_capitalization", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, -9, -4, 0, 4, -4, 13, 2, 10, -3, 4, -6, 2, -3, 6, -2, 0, -3, -11, 3, 7, -14, -5, -2, 17, -2, -3, -4, -4, -25, 2, -7, 8, 7, 4, 2, -2, -2, -2, 1, -3, 7, 2, -1, -5, -7, -7, 0, -3, 6, 5, 2, -3, 6, -1, 8, 3, 3, 4, 8, 6, 2, -18, 1, 2, -5, 0, 0, -9, 7, 9, -2, 0, 2, 6, -4, 3, 0, 0, 0, -4, 6, -3, 1, -1, 2, 14, -4, 6, -2, -1, -1, -9, 0, -4, 5, 2, 6, -5, 46, 7, 3, 0, -5, 0, -3, -1, 2, 4, 3, -3, 1, 2, -12, -1, -2, -2, -1, 7, -3, 0, 2, -6, 1, -8, 4, 2, 10, 1, 0, -1, 1, -11, -1, 2, 1, -1, -1, 0, 1, -6, -5, 0, -4, -8, 16, -1, -6, 1, -2, -14, 0, -3, -13, 0, 0, 2, -2, 3, -5, -1, -2, -8, 18, -1, -11, -3, 4, 0, 1, 0, 2, -2, -1, 6, -1, -3, -7, 0, 3, 12, -2, -4, 0, 6, -1, -9, -1, 5, -3, 0, 4, -12, 10, -3, 14, -4, 2, 3, -3, 3, 2, -5, -2, -7, 7, 4, -2, 6, 11, -1, 5, -7, 1, 1, -1, 1, 7, -5, 0, 4, -3, -6, -37, -7, 0, -3, 3, -6, 4, 6, 0, 2, -2, -6, -2, -2, 8, -3, -5, -1, -2, 0, -2, 8, -6, 0, 10, 10, 10, 4, 7, 4, 6, 2, 0, -3, 0, -8, 3, -4, -8, -3, 0, 0, -4, -7, 1, 4, 5, 0, 0, 10, 2, 1, -3, 6, 6, -6, -11, 2, -6, 4, 4, -5, 6, 3, -2, -3, 2, -2, -1, 4, 2, 3, -4, -3, 0, 4, -3, 5, -2, 8, 5, 3, 4, 7, 0, 5, 2, -1, 2, -2, -11, 1, -9, -5, 1, -4, -34, 3, 9, 4, -7, -5, -3, 4, -10, 8, -7, 5, 9, -3, -5, -1, 14, -2, 8, 9, 2, 4, 23, 0, -2, 1, -6, 0, -2, -1, 6, -4, 9, -4, -1, 5, 1, 3, -2, 6, -5, -2, -4, -2, 6, -5, 2, -4, -1, -1, -7, -2, -5, -5, 4, -6, 0, -4, 2, -1, -1, 3, -2, 1, 5], "explanation": ["Market capitalization represents the total market value of a publicly traded company's shares. It is calculated by multiplying the current market price of one share by the total number of outstanding shares. This metric provides investors with an understanding of the company's market value."], "example": "If a company's share price is $50 and it has 2 million outstanding shares, its market capitalization would be $100 million ($50 \u00d7 2,000,000).", "whyItMatters": "Market capitalization helps investors assess the size and value of a company in the stock market.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/New_York_Stock_Exchange_August_2017_02.jpg/1280px-New_York_Stock_Exchange_August_2017_02.jpg"}, {"id": "5560fcb0d322", "title": "Stock split", "slug": "stock-split", "headline": "Stock split doubles shares, halves price", "summary": "What a stock split does \u2014 increases share count while proportionally reducing price", "source": "What a stock split does \u2014 increases share count while proportionally reducing price", "sourceUrl": "https://en.wikipedia.org/wiki/Stock_split", "articleUrl": "https://en.wikipedia.org/wiki/Stock_split", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, -11, 3, 0, 2, -1, 3, 2, 10, -1, 7, 0, 6, 4, 7, 3, -5, -8, -14, 0, 2, -12, 4, 3, 8, 0, -7, -1, -8, -29, 7, -1, 0, -2, -2, 3, -10, 3, -3, 5, -10, 2, 2, -1, -2, 2, 0, 2, -2, 7, 5, -9, 1, 4, -1, 3, -2, 13, 2, 5, 8, 2, -12, 4, 3, -3, -5, 1, -6, 10, -3, 1, 4, 5, -1, -10, 2, 2, 4, 2, -2, 5, -4, -5, -1, 5, 9, -5, 4, -2, 3, 4, -5, -5, -6, 3, -1, 0, -2, 44, 4, 6, -4, 1, -1, -9, -4, 1, 6, -3, 5, 3, 3, -3, -2, 4, -1, 1, 3, 2, -1, -1, 2, -5, -7, 1, 2, 14, 1, -3, -3, -2, -8, -1, 2, 4, -3, -1, 2, 8, -5, -3, 4, -11, 1, 18, 0, 0, -3, 2, -12, 2, 0, -15, -3, 1, 6, 0, 5, -2, -6, -5, -9, 12, 3, -12, -3, 9, 0, -3, -6, 1, -4, -4, 2, 0, -6, -9, -1, 1, 6, 1, -5, 10, 6, 1, -6, -8, -2, 8, 0, 3, -8, 6, -2, -3, -1, 5, -8, 1, 5, -1, -12, 7, 3, 8, 1, 6, 7, 5, 5, 5, -3, 7, 0, 1, 2, 2, 1, 1, 2, -1, 4, -37, -7, 1, -3, 2, -5, -3, 5, 1, 5, 3, -2, -7, -8, 0, -6, -5, 2, -9, 2, -3, 10, -4, -1, 13, 9, 12, 2, 7, 2, 1, 3, -4, -1, 3, -3, -5, -8, -7, 2, -8, -2, 0, -3, 8, 1, 5, 7, 3, 8, 3, -4, 2, 9, 6, -5, -8, -1, -5, -4, 1, -6, 2, -1, 7, 4, -4, 1, -11, 4, -2, 4, -3, -3, -3, 3, -3, 0, -5, 1, 11, -2, -4, 7, 1, -1, 4, -2, 2, -1, -6, 3, -9, 5, 3, -2, -33, 1, -4, -2, -1, 8, 1, -1, -5, -2, -9, 10, 0, -2, -5, 1, 9, -5, 10, 2, 4, 1, 24, 2, 0, 0, -1, 3, -2, 5, 0, -2, 2, -6, -1, 5, -4, 4, 4, 4, -2, -5, -4, 1, 18, -6, 2, -10, 6, 1, -6, 3, 1, 0, -3, -7, -4, 2, 5, -1, -3, -1, -2, -1, 6], "explanation": ["A stock split increases the number of shares in a company. For instance, a 2-for-1 split means each investor will own double the number of shares. However, the price of each share will be reduced proportionally, making it more affordable for investors.", "A stock split does not change the total market capitalization of the company. Market capitalization remains the same because the increase in the number of shares is offset by the decrease in the price of each share. This ensures that the overall value of the company remains unchanged.", "Stock splits are often initiated when the market price per share becomes too high, making it difficult for small investors to buy shares. By reducing the share price, stock splits make the shares more accessible to a broader range of investors."], "example": "If a company has 1 million shares priced at $100 each, after a 2-for-1 split, it will have 2 million shares priced at $50 each. The total market capitalization remains $100 million.", "whyItMatters": "Understanding stock splits helps investors recognize that the fundamental value of a company remains unchanged, despite changes in share price and share count.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/a/a1/Midland_Grand_hotel%2C_St_Pancras_-_geograph.org.uk_-_2428283.jpg/1280px-Midland_Grand_hotel%2C_St_Pancras_-_geograph.org.uk_-_2428283.jpg", "imageLicense": "CC BY-SA 2.0", "imageArtist": "Julian P Guffogg"}, {"id": "b8ceeaf0e086", "title": "Dividend yield", "slug": "dividend-yield", "headline": "Dividend yield = Annual dividend / Share price", "summary": "What a dividend yield measures \u2014 annual dividend divided by share price", "source": "What a dividend yield measures \u2014 annual dividend divided by share price", "sourceUrl": "https://en.wikipedia.org/wiki/Dividend_yield", "articleUrl": "https://en.wikipedia.org/wiki/Dividend_yield", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -8, 4, 0, 4, -4, 5, 3, 8, 1, 4, -1, 0, 2, -1, 4, -9, -6, 2, 0, 14, -13, 4, 4, 11, 2, -6, -8, -6, -19, 5, 0, -3, -2, -3, 4, -2, 3, -2, 2, -9, 6, 6, -6, -2, -4, -4, -5, -2, 7, 4, -5, 8, 0, -8, 4, 4, 7, 4, 5, 4, 0, -18, -2, 4, -5, -2, 10, -10, 5, 4, 1, -1, 0, -1, -4, 3, 0, -3, 1, -6, 10, -6, -4, -3, -1, 14, -1, 16, 0, 5, 4, -9, -6, -3, 8, 1, -2, -4, 43, 1, 7, -2, -2, -8, -6, -3, 1, 4, -3, -1, 0, 5, -3, -3, -6, -8, 5, 11, -6, 0, 1, 0, -1, -10, 5, 8, 10, 5, 3, 1, 4, -9, -1, 5, 3, -7, -6, 1, 3, -3, 1, 0, -4, -4, 15, -5, 4, 0, 2, -9, 7, 0, -15, -1, 2, -1, -5, 2, 0, -2, -2, -6, 16, 4, -4, -6, 5, -2, -10, 0, 1, -1, -7, 5, 5, 1, -10, -5, -2, 8, -2, -2, 2, 8, 0, -6, -5, 2, 0, 3, -1, -9, 7, -4, 7, -5, 7, -5, -5, 3, 2, -1, 3, -4, 5, 4, 2, 13, 6, 2, 4, 3, 1, 2, -1, 3, 2, 1, 1, 4, -9, 3, -33, -8, 0, 3, 2, 6, -2, 4, 0, 0, 7, -1, -3, -11, 5, -6, -1, -5, -7, 0, -1, -6, -5, 0, 11, -3, 12, -2, 10, 1, -2, 3, 2, -3, 0, -6, -1, -3, -9, -7, -4, 2, 2, -4, 6, -6, 5, 4, -3, 9, 4, -11, -3, 4, 12, -9, -8, -3, -7, -4, -2, -1, 0, -10, -1, -7, -1, -6, -5, 3, 1, 4, -5, -9, -1, 0, 1, 1, -7, 1, 4, 4, 2, 7, -5, 4, -1, 1, 6, -4, 0, 0, -1, -1, -2, 5, -36, 7, 0, 4, -1, -2, 5, -2, -8, 5, -9, 0, 6, -4, -1, 2, 14, -4, 8, 7, 5, 6, 22, 2, 3, 3, 1, 0, 5, 4, 5, 3, 5, -12, 1, 10, -1, 10, 5, 6, 1, 1, -6, 1, 9, -6, 1, -8, 2, -1, -6, -2, 4, 6, 8, -4, -3, -2, -3, -1, -5, -8, -5, 4, 4], "explanation": ["The dividend yield is a financial metric that represents the return on investment from dividends alone, expressed as a percentage. It is calculated by dividing the annual dividend per share by the current share price. This measure helps investors understand the income they can expect from dividends relative to the price of the stock."], "example": "If a company pays an annual dividend of $2 per share and its current share price is $40, the dividend yield would be 5% ($2 / $40 * 100).", "whyItMatters": "Understanding the dividend yield is crucial for investors who prioritize income from dividends as part of their total return strategy.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/5/57/Mechanical_calculators_Keyboards.png", "imageLicense": "CC BY-SA 3.0", "imageArtist": "Ezrdr"}, {"id": "89e1054c3ed6", "title": "Short (finance)", "slug": "short-finance", "headline": "Short selling involves borrowing shares to sell, hoping to buy back cheaper", "summary": "What short selling does \u2014 borrowing shares to sell, hoping to buy back cheaper", "source": "What short selling does \u2014 borrowing shares to sell, hoping to buy back cheaper", "sourceUrl": "https://en.wikipedia.org/wiki/Short_(finance)", "articleUrl": "https://en.wikipedia.org/wiki/Short_(finance)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [2, -5, -1, 2, 2, -7, 7, 1, 6, -6, 5, 0, -3, 1, -1, 1, 1, -5, -9, 7, 0, -3, 1, -4, 15, -4, 1, -6, -10, -19, 5, 0, -2, -1, 2, 5, -8, 1, -2, 8, -1, -1, 2, 3, -1, -1, 0, -6, 1, 10, 4, 3, -3, 1, 1, 9, 1, 9, 3, 6, 13, -3, -15, 1, -1, 1, -3, 5, -8, 6, 2, 1, -2, 10, -3, -10, 2, 5, -4, -1, -4, 1, -2, 4, -5, -4, 3, -6, 14, 0, 1, 1, -6, 6, -9, 3, 4, 9, -3, 47, 0, 9, 2, -2, 1, -4, -9, 5, -3, -1, -4, 4, -1, -4, -8, 1, -2, 1, 3, -3, -7, 2, 3, -4, -3, 0, 0, 8, 6, 3, 3, -6, -8, 0, 4, 0, 0, -1, 7, -8, -3, -4, 1, -7, -3, 12, 3, -8, -5, 5, -8, 2, -1, -17, 2, -5, 10, 4, -1, 8, -7, 2, -15, 3, 5, -10, -2, 4, -4, -3, -8, -3, 1, -11, 4, 2, -11, -11, -6, 6, -1, -7, 3, -1, 0, 2, -10, -1, 3, 1, -8, -8, -8, 1, -1, 4, 1, 1, -7, 6, -4, 6, -9, 6, -1, -2, 3, 0, 7, 5, -6, 10, -1, 1, 2, -7, -1, 2, 2, -1, 0, -6, 12, -39, -6, -7, -8, 10, -4, -6, 0, -3, -3, 1, -12, 0, -5, 3, 2, -7, -1, -3, 2, 3, 0, 6, 1, 9, 4, 13, 0, 8, 5, 2, -3, 0, -4, 1, 0, -1, -8, -10, 2, -9, 0, 0, 3, -4, 4, 5, 3, -1, 15, -2, 2, 1, 11, 8, -4, -4, 0, 2, 5, 6, -1, 3, -5, 0, -3, 3, -4, -4, -1, -4, 9, -2, 11, -4, 2, -3, 0, 1, 2, 1, -2, 1, 8, 3, 1, 8, 1, 5, 1, -8, 3, -6, 4, 5, -4, -28, -1, 4, 4, 1, 8, 4, -1, -8, 5, -1, 0, 5, 3, -4, -2, 11, -6, 4, 2, 6, 0, 22, 2, -1, 7, -2, 0, 8, -1, 9, -6, 6, -6, 0, -6, -6, 6, 12, -1, -1, -4, -7, 3, 6, 3, -1, -10, -5, 2, -3, 3, 1, -10, 4, -5, -1, -1, 6, 7, 3, -2, -1, 3, 8], "explanation": ["To execute short selling, an investor must borrow shares from a lender and sell them on the market. The investor is obligated to buy back the same number of shares at a later date to return to the lender. If the share price drops, the investor profits from the difference. Conversely, if the price rises, the investor incurs a loss."], "example": "An investor borrows 100 shares of Company X, sells them for $50 each, and hopes the price drops to $40. If successful, the investor buys back 100 shares at $40, returns them to the lender, and profits $1,000 ($50 - $40) minus any borrowing fees.", "whyItMatters": "Short selling can significantly impact market prices and is a tool for profit in declining markets.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/6/67/Short_%28finance%29.png"}, {"id": "75de1683d53e", "title": "Margin Call", "slug": "margin-call", "headline": "Margin call requires additional collateral due to increased credit risk", "summary": "What a margin call is \u2014 broker demands more collateral when losses exceed the deposit", "source": "What a margin call is \u2014 broker demands more collateral when losses exceed the deposit", "sourceUrl": "https://en.wikipedia.org/wiki/Margin_Call", "articleUrl": "https://en.wikipedia.org/wiki/Margin_Call", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, -12, -1, -2, -3, -1, 9, 8, 14, -5, 5, -3, -1, 3, 2, 1, 6, 0, -2, 7, 0, 4, 0, -1, 6, -10, -9, -8, -7, -24, 3, -2, 0, -9, -1, 3, -7, 3, 1, 8, -6, 5, 0, -1, -3, -9, 6, -3, 1, 2, 5, -7, 3, 5, 4, 5, 3, 8, -5, 1, 8, -4, -17, 4, -2, 4, -1, 13, -3, 13, 0, -6, -10, 10, 2, -5, 3, 5, -6, 4, 2, -1, -4, -6, -2, -6, 6, -4, 10, -4, 1, -3, -4, 0, -11, -2, 6, 4, -3, 46, 6, 2, -4, 3, 5, 0, 2, -1, -1, -5, -3, 5, 0, 2, -9, 2, -2, -10, -1, 2, 2, 5, 6, 3, -7, -2, -2, 7, 4, 4, 6, -2, -8, 5, 6, -1, -2, 3, 5, -7, -5, -1, -1, -5, 1, 13, -3, -1, -8, -1, -4, -2, 1, -5, -3, 1, 6, 8, -4, 2, 5, -10, -9, 9, 7, -11, -3, 1, -2, 0, -2, 0, -6, -8, 0, -2, -9, -2, 1, 5, -6, 2, -4, 4, -4, -4, -6, 3, 4, -1, -8, -1, -2, 10, -1, 9, 1, 8, -5, -3, 5, 3, -6, 8, -2, 5, 1, -2, 4, 0, -1, 5, 5, 8, -2, -1, -2, 1, 5, 0, 3, 9, 11, -40, -3, -13, -5, 9, -5, 3, 1, -8, -3, 4, 2, 3, -3, 2, 3, -12, -6, -9, 4, -2, 5, -5, 2, 8, 7, 11, -6, 6, -5, 7, 1, 6, 1, 4, -6, -6, -4, -5, -3, -3, -3, -4, 0, 5, 8, -5, 11, -3, 5, 3, 3, 4, 8, 4, -7, -5, -3, -4, 6, 6, 1, 6, -2, 7, 4, 1, -5, -6, 0, 4, 8, -4, -10, -4, 1, 4, -4, -9, -5, 2, -9, -1, 2, 4, 6, 6, 1, -1, -1, -10, 0, -9, -1, -3, -5, -28, -4, 5, -1, -1, 0, 3, 6, -8, 9, 1, 2, -1, 7, -5, -1, 2, -2, -1, 2, 6, 2, 23, 2, -2, 6, 2, 0, 13, -7, 6, -5, 11, -9, 1, -1, -4, 5, 6, 2, -2, -8, 1, 3, 8, 2, -1, -7, 6, 0, -4, -2, -1, -3, 2, 2, -1, 0, 1, 7, 4, -7, -1, -7, 2], "explanation": ["A margin call occurs when a financial market participant must provide more funds to cover losses on an investment. This situation arises when the value of the collateral falls below a certain threshold, increasing the credit risk for the lender. The margin call is a protective measure to ensure that the borrower maintains a minimum level of equity in the investment."], "example": "If an investor borrows $100,000 to buy stocks worth $120,000, a margin call may occur if the stock value drops to $110,000, requiring the investor to deposit additional funds to maintain the loan-to-value ratio.", "whyItMatters": "Understanding margin calls is crucial for investors to manage risk and avoid forced liquidation of assets.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/e/e2/Sparschwein_Haspa02.jpg", "imageLicense": "Public domain", "imageArtist": "GeorgHH"}, {"id": "e3d2bafb288d", "title": "Order (exchange)", "slug": "order-exchange", "headline": "Limit orders set a price; market orders execute immediately", "summary": "What a limit order vs market order does \u2014 limit sets a price, market executes immediately", "source": "What a limit order vs market order does \u2014 limit sets a price, market executes immediately", "sourceUrl": "https://en.wikipedia.org/wiki/Order_(exchange)", "articleUrl": "https://en.wikipedia.org/wiki/Order_(exchange)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -5, 4, 0, 2, 2, 8, -1, 14, 0, 7, 7, -3, 7, 3, 1, -2, -7, -9, 10, 7, -6, -9, -9, 6, -3, -1, 3, -4, -26, 7, -3, -1, -1, -6, 1, -4, -4, 1, 4, -5, 9, -5, 1, -6, -2, 6, 3, 0, 0, 3, -1, -1, 4, 1, 0, -6, 8, 4, 1, 5, -1, -15, 8, -6, 1, -2, 7, -13, 13, 1, 1, -1, 5, 1, -11, -5, 0, 6, 1, -1, -10, 1, -1, -2, 1, 7, -4, 9, -2, 5, -1, -5, 2, -2, 11, -1, 1, -1, 40, 7, 4, -5, 5, 1, -3, -8, 2, -2, 0, 2, 0, 7, -7, -1, 0, 6, -6, 10, -4, -1, 9, 3, -3, -2, -1, 2, 13, -5, -3, 9, -13, -5, 2, 3, 4, 3, 2, 5, -3, -6, -2, 2, -11, 1, 16, 3, 5, -8, 6, -12, -1, -3, -10, -7, 6, 7, 7, -1, -12, -8, 1, -4, 7, -4, -6, 0, 1, -2, 0, -8, 5, -4, -7, 1, -1, -3, -3, -9, 6, 2, 2, -1, 6, -6, -6, -8, 3, 4, 1, -9, -1, -1, 6, -4, -2, 2, 4, -1, -3, 4, 3, -9, 11, 3, 2, -2, -4, 1, 1, -5, 7, -11, 5, -7, -4, -6, 4, 4, -8, 8, -3, 7, -42, -6, -5, -3, 3, 1, -2, 0, -6, 4, 5, -10, 1, -5, 3, -1, -6, -3, -1, 5, -3, 5, -6, -6, 5, 3, 11, -5, 8, -1, 1, -4, -3, -4, 0, 0, -5, -1, -5, 9, -8, -4, 1, -1, 0, 1, 4, 5, -6, 4, -1, 3, -3, 8, 5, -1, -7, -1, -7, 2, 7, -5, 0, 4, 3, 0, 8, -4, -4, 0, -2, 6, -3, 1, 0, 3, 2, -2, -3, 3, 2, 2, 6, 11, 5, 3, 11, -1, -6, 3, -8, 8, -8, 5, 1, -7, -29, 1, 9, 6, 6, 4, 0, 1, -10, 0, -4, 8, 7, 1, -8, 1, 13, -6, 5, 2, -1, 5, 18, 6, -2, 3, 7, 2, -3, -4, 12, -1, 3, -6, 8, 0, -6, 17, 5, 3, -3, -2, -3, 5, 5, -3, -1, -7, -8, 5, -9, -3, -3, 0, -1, -1, -1, -1, 5, 1, 1, 3, 4, 2, 0], "explanation": ["Limit orders are used to specify the maximum price you are willing to pay for a stock or the minimum price you are willing to accept for a stock. Market orders, on the other hand, are executed immediately at the best available price."], "example": "If you want to buy shares of Apple at $150 or less, you would place a limit order. If you want to buy shares of Amazon right now, regardless of the price, you would place a market order.", "whyItMatters": "Understanding the difference between limit and market orders is crucial for effective trading strategies.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Front_of_Brussels_Stock_Exchange_2023_cropped.jpg/1280px-Front_of_Brussels_Stock_Exchange_2023_cropped.jpg"}, {"id": "85f2e52be52c", "title": "Bid\u2013ask spread", "slug": "bid-ask-spread", "headline": "Bid-ask spread measures transaction costs and liquidity", "summary": "What the bid-ask spread represents \u2014 the cost of trading, difference between buy and sell prices", "source": "What the bid-ask spread represents \u2014 the cost of trading, difference between buy and sell prices", "sourceUrl": "https://en.wikipedia.org/wiki/Bid%E2%80%93ask_spread", "articleUrl": "https://en.wikipedia.org/wiki/Bid%E2%80%93ask_spread", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [0, -7, 0, 2, 0, -3, 8, 0, 7, -3, 6, -3, 1, 0, 6, 7, -4, -10, -7, 8, 3, -7, 0, -6, -1, 0, 0, -9, -6, -24, 5, -2, 5, -4, -7, 4, -9, -4, 7, 0, -3, 6, -1, -3, -1, -6, 2, -4, -7, 6, 0, -2, -1, 2, 6, 5, 7, 0, -3, 4, 3, -1, -14, 4, 9, -2, -2, 10, -3, 6, 4, 0, -5, 3, -1, -4, -8, 3, -3, -3, 2, 3, -2, 4, -6, -2, 10, 2, 8, -4, -2, 5, 0, 5, -2, 5, 3, 4, -2, 47, 7, -2, -5, -3, -8, -1, 1, -5, -1, -4, -1, 0, 2, -3, -6, 7, -5, 0, 3, -2, 2, 2, 7, -2, -5, -7, 4, 15, -1, -1, 2, -5, -7, 3, 6, 0, -2, 1, 0, 4, -11, -3, 4, -11, -11, 16, 4, -1, -2, -2, -2, -4, 0, -15, 3, 3, 9, 7, -8, -5, -5, 1, -6, 14, 3, -15, -1, -3, -7, -2, -1, 5, -3, -2, 7, 6, -9, -10, -2, 1, 4, -1, -1, 0, 0, -3, -12, 2, 3, 7, -2, -7, -4, 9, -6, 0, -2, 4, -8, 0, 3, 7, -7, 0, 1, 3, 6, 1, 10, 2, -4, 3, -3, 3, -6, -2, 4, 1, 1, 3, -4, 2, 4, -41, -6, -4, 2, 11, -6, 4, -1, 3, 13, 9, 0, -3, -5, 6, -5, -2, 3, -1, -1, -7, 0, 2, -2, 7, 8, 16, -2, -1, 0, 3, -4, -1, -1, 2, -3, 3, 2, -6, -3, -12, -5, 1, 1, 3, 7, 6, 2, -2, 11, -1, -2, 6, -1, 5, -7, -4, -7, 1, -2, 1, 0, 4, -9, 4, -7, 4, -8, -6, 2, -6, 10, 0, -4, -1, 6, 3, -2, -5, 5, 6, 0, 4, -1, -2, 3, 1, -3, 0, 0, -2, -4, -10, -5, 4, -2, -35, 7, 5, 4, -1, 3, 3, -2, -7, 0, -7, 5, 5, 2, -3, -5, 10, -7, 7, 5, 6, 2, 24, 1, -5, 1, 2, 4, 7, -2, 5, 2, 3, -2, 3, 7, -5, 9, 1, 5, 3, -6, -2, 4, 5, 7, -3, -11, 3, 1, 0, -1, 5, -1, 0, -4, -4, 2, 3, 8, 3, -5, 1, -1, 6], "explanation": ["The bid-ask spread is the difference between the asking price for selling (ask) and the bidding price for buying (bid) a security. This spread is a direct indicator of the cost of trading, as it represents the price difference that buyers and sellers must pay to execute trades. A wider spread typically indicates higher transaction costs and lower liquidity in the market."], "example": "If a stock has a bid price of $50 and an ask price of $52, the bid-ask spread is $2. This spread reflects the cost of trading the stock, with buyers paying $2 more than sellers for each share traded.", "whyItMatters": "Understanding the bid-ask spread helps investors gauge the cost of trading and the liquidity of a market, influencing their investment decisions.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/1/14/Order_book_depth_chart.gif"}, {"id": "2432a2fd6892", "title": "Color depth", "slug": "color-depth", "headline": "Market depth measures buy/sell volume at each price level", "summary": "What market depth shows \u2014 the volume of buy and sell orders at each price level", "source": "What market depth shows \u2014 the volume of buy and sell orders at each price level", "sourceUrl": "https://en.wikipedia.org/wiki/Color_depth", "articleUrl": "https://en.wikipedia.org/wiki/Color_depth", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-1, -6, 2, 5, -1, 3, 8, 3, 7, -6, 5, 1, 2, 2, 2, -2, -2, -2, -8, -3, 12, -9, -3, -6, 13, 1, 2, -7, -7, -24, 4, 3, 9, -2, -3, -2, -7, -3, -4, 2, -2, 5, -5, 3, -4, -7, -4, 2, 2, 2, 5, -2, 1, 3, 1, 3, 8, -1, 5, 5, 16, 2, -20, 1, 3, 4, -3, 1, -12, 6, 5, -4, -5, -2, 0, -14, -3, 1, -8, -4, -1, 5, -1, 3, -5, -4, 9, 0, 10, -2, 0, 0, -9, 3, -1, 4, -3, 3, 1, 43, 5, -3, 0, 0, 0, -6, -4, 5, 4, 10, -4, 1, 1, -5, -4, 2, -2, -2, 10, -7, -6, 3, 6, -3, -3, 2, 3, 12, -2, -1, 3, 1, -11, 0, 4, -1, 0, -1, 4, 12, -11, 3, 2, -7, -2, 16, -5, 4, -6, 3, -10, 5, 5, -11, -1, -6, 4, 8, -3, -6, -7, -1, -4, 10, 1, -8, -4, 7, -3, -7, 1, 1, 0, -4, 2, -2, -9, -8, -6, -3, 3, -2, -1, 0, -3, -1, -6, 1, 3, 4, 3, -3, -5, 6, 4, 3, -3, 10, -3, 4, -1, 1, -5, 3, 2, 8, 4, 3, 8, 6, -5, 8, -6, -1, -4, -1, 9, 0, 1, 3, -1, -10, 3, -40, -2, 3, -10, 3, -1, 0, 8, 1, 2, 8, -2, -3, -5, 6, 1, -12, 3, -11, 2, 0, 6, -3, -1, 1, 1, 15, -10, 1, 4, -1, -4, -5, -6, -2, -2, -2, 1, -10, -3, -12, -4, 1, 2, -4, 0, 12, 10, -1, 3, 0, -6, -3, 4, 3, -5, -3, -3, -7, 0, 2, 1, 1, -3, -2, -3, 3, -10, -8, 3, -8, 4, -1, 3, -2, 4, 0, 6, 0, 5, 12, -3, 5, 13, 4, 6, 0, -5, 4, -3, -4, 1, -8, -6, 2, 2, -28, 0, 1, 4, 6, 1, 3, 2, -6, -4, 0, 1, 2, -8, -9, 4, 17, -5, 11, 4, 0, 7, 21, 4, -5, 1, 1, -3, -3, 2, 5, -1, 8, -2, 3, 9, 2, 5, 8, 7, 4, -7, -6, -3, 8, -2, -1, -6, -1, 5, -4, 0, -2, 1, 1, 1, 0, -5, 5, 2, -5, 1, 2, -4, 6], "explanation": ["Market depth refers to the volume of buy and sell orders at each price level in a financial market. It provides insight into the liquidity and stability of the market at different price points. Market depth can help traders and investors understand the potential for price movements and the level of support or resistance at various prices."], "example": "If a stock has high market depth at $50, it means there are many buy and sell orders around that price, indicating strong liquidity and potential price stability.", "whyItMatters": "Understanding market depth helps traders make informed decisions about entry and exit points, as well as potential price movements.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/d/da/U.S._Bullion_Depository-adjust2.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Work permit\n\nOriginal author=Cliff"}, {"id": "67183aa9ac3c", "title": "High-frequency trading", "slug": "high-frequency-trading", "headline": "HFT firms move in and out of positions in seconds or fractions of a second", "summary": "What high-frequency trading does \u2014 algorithms execute thousands of trades per second", "source": "What high-frequency trading does \u2014 algorithms execute thousands of trades per second", "sourceUrl": "https://en.wikipedia.org/wiki/High-frequency_trading", "articleUrl": "https://en.wikipedia.org/wiki/High-frequency_trading", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -4, -7, -1, -2, 3, 6, -4, 11, -4, 5, 3, 3, -1, -4, 6, -5, -11, -3, 1, 7, -6, -4, -5, 5, -3, -3, -3, -13, -26, 3, -1, 5, 4, 3, 2, -9, 4, 0, 4, -6, 8, 3, -2, 2, -3, -2, -3, -4, 2, -6, 0, 6, 3, 7, 2, 7, 2, 4, 7, 10, 2, -12, 6, 1, -1, -1, -2, -5, 6, 2, -1, -4, -1, 9, -5, -2, -3, -1, 1, 2, -6, -5, -2, -7, 1, 5, -1, 6, -1, -1, 9, -5, -4, -2, 2, 6, 5, 1, 48, 6, 2, -7, -1, 0, -3, -7, -2, 0, 4, -1, 2, 8, -2, -3, 5, 3, 1, 6, 3, -4, 11, 5, 2, -3, -1, 2, 9, 2, 4, 1, 4, -4, 0, 2, 6, -5, 1, 0, 7, -8, 0, 4, -13, 1, 13, 7, -1, -5, -3, -7, -2, 0, -11, -5, 1, 10, 4, 1, -3, -11, 1, -4, 16, 0, -12, 3, -4, 0, -3, -9, 3, 0, -1, 7, 0, -12, -4, -2, 2, 4, 1, -3, -1, 6, 1, -3, -1, -2, 4, -9, -1, -4, 7, -3, -2, -2, 4, -5, -1, 1, -1, -7, 2, -1, 3, 1, -3, 10, 3, 3, 3, 2, -1, -1, -1, -3, 10, 1, 6, 2, 0, -5, -38, -8, -3, -1, 1, -5, -3, -8, 7, 9, 1, -3, -8, -6, 2, -4, -9, 5, 1, -1, 3, 4, -8, -10, 4, 1, 14, -6, 0, -4, 1, -5, 1, 5, 0, -4, 13, -3, 4, -1, -13, -4, 1, -2, 1, 3, -3, -8, 0, 6, 11, -1, 4, 1, -2, -10, -2, -1, -4, 7, -2, -2, -2, 4, 9, -4, 9, 2, -5, 1, 2, 13, -2, -2, 5, -3, 1, -1, -4, 5, 11, 4, 4, 11, -1, 0, 10, -6, 0, 7, -3, 8, -11, 0, -1, 0, -33, -2, -1, 2, -5, 1, 2, 0, -4, 2, -7, 4, 5, -1, 2, -4, 9, -5, 3, 0, 3, 3, 30, -1, 1, 1, -3, 1, 0, -8, 5, -2, 9, -5, -3, 4, 0, 4, -1, -3, 2, -7, 5, -1, 9, 0, 1, -11, -1, 3, -10, -7, 2, 7, -7, -2, 0, 3, 1, -2, -2, -2, 0, 2, 4], "explanation": ["High-frequency trading (HFT) is characterized by extremely rapid execution of trades, often within seconds or even fractions of a second. This speed allows HFT firms to capitalize on very small price discrepancies in the market. The rapid movement in and out of positions is a defining feature of HFT."], "example": "An HFT firm might execute a trade to buy a stock at $100.00 and then sell it at $100.01 within a fraction of a second, capturing a tiny profit of $0.01 per trade.", "whyItMatters": "Understanding the speed at which HFT operates is crucial for grasping the scale and impact of this trading strategy on financial markets.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Assorted_United_States_coins.jpg/1280px-Assorted_United_States_coins.jpg"}, {"id": "a14ed2de63a8", "title": "Dark pool", "slug": "dark-pool", "headline": "Dark pools are private forums for trading securities", "summary": "What dark pools are \u2014 private exchanges where large trades happen without public price impact", "source": "What dark pools are \u2014 private exchanges where large trades happen without public price impact", "sourceUrl": "https://en.wikipedia.org/wiki/Dark_pool", "articleUrl": "https://en.wikipedia.org/wiki/Dark_pool", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-5, -10, -9, 5, 1, 0, 10, 0, 7, -2, 7, 1, 0, 4, 3, 4, -2, -6, -2, 8, 5, -11, 0, -9, 0, -4, -5, -4, -8, -22, -1, 1, -2, -1, 5, 3, -7, -2, -2, 6, 2, 4, -1, 3, 1, -7, 9, -2, -4, -1, 7, -4, 5, 3, 2, 2, 7, 2, 4, 1, 7, 8, -17, 4, 6, 5, -1, 3, -1, -1, 5, 4, -5, -2, 4, -1, 3, -1, -5, -1, -1, -5, 0, -8, -9, 4, 7, 2, 2, -4, 3, 4, 1, -4, 0, -1, 7, 1, 0, 50, 6, 3, -1, 3, 3, 5, -1, -4, 3, -3, 0, -1, 9, -3, -4, 2, 1, -4, 5, 6, -4, 5, 10, 3, -1, -1, -4, 11, 1, 7, 1, 0, -7, 4, 7, 0, 0, -5, 4, 5, -6, 2, 1, -8, -3, 5, 9, -3, -4, 2, -1, -1, -5, -7, -1, -6, 6, 2, 1, 0, -5, 1, -2, 17, -2, -18, 2, -2, -10, -4, -5, 8, 7, -5, 6, 2, -10, -7, -3, 3, -5, -5, 1, -1, 0, -2, -7, 3, -2, 7, -19, -7, -13, 11, -6, -3, -4, -2, -4, -2, 1, 4, -5, 1, -3, 6, 3, -4, 3, 4, -2, 1, -2, 3, -2, -5, 3, 4, 8, -5, 8, -4, -4, -42, -8, -5, -5, 8, -12, 3, -4, 0, 9, 11, -4, -5, -3, 0, -3, -6, -2, 1, -1, -3, 4, 5, -3, 9, 8, 16, 2, -1, -1, -1, -5, -1, -4, 0, 7, 10, 0, 1, 0, -6, -1, -4, -7, -1, 0, 8, -2, 0, 6, 2, -3, 6, 9, 2, -4, 0, -1, -1, 5, -4, 4, 2, -11, 1, -3, -5, -4, 7, -2, -2, 10, -5, 2, 2, 7, 1, 2, -3, 5, 5, -1, 7, 10, 0, 6, -3, -5, 5, 2, -2, 3, -13, -3, -1, 4, -31, 1, -1, 0, 0, 7, 7, -4, -8, 1, 5, 0, 1, 2, -3, -9, 7, -5, 3, 11, 1, -1, 23, 1, -2, 1, -5, 1, 2, 0, -1, 5, 3, -4, -1, -3, 2, 1, 5, 0, -5, -3, 6, -1, 6, 7, 1, -11, 1, 0, -4, 0, -3, 1, -3, 1, -1, -2, 4, 0, -4, 0, -5, -7, 0], "explanation": ["Dark pools are private forums for trading securities, providing a space for large trades to occur without public price impact. These markets are not accessible to the general investing public, ensuring confidentiality for the trades executed within them."], "example": "A financial institution may use a dark pool to execute a large trade in stocks without revealing the trade size or their identity to the public market.", "whyItMatters": "Understanding dark pools is crucial for investors and regulators to navigate the complexities of modern financial markets and ensure fair trading practices.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/b/b7/Fr%C3%BCher_Bankautomat_von_Nixdorf.jpg", "imageLicense": "CC BY-SA 3.0", "imageArtist": "photo taken by: de:User:Stahlkocher"}, {"id": "ae67fb856a24", "title": "IPO (disambiguation)", "slug": "ipo-disambiguation", "headline": "A private company goes public through an IPO", "summary": "What an IPO is \u2014 initial public offering, a company's first sale of stock to the public", "source": "What an IPO is \u2014 initial public offering, a company's first sale of stock to the public", "sourceUrl": "https://en.wikipedia.org/wiki/IPO_(disambiguation)", "articleUrl": "https://en.wikipedia.org/wiki/IPO_(disambiguation)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [4, -8, -1, -2, -7, 1, 15, -2, 10, 1, 3, 5, 4, -6, 0, 2, -4, -16, -4, 6, 10, -7, -2, -5, 6, 4, -5, 2, -10, -16, 1, -8, 0, 0, 4, 7, -6, -1, -6, 4, 1, -5, -4, 7, 6, -3, 6, -7, -2, 1, 2, -1, -2, 0, -7, 0, 4, 4, 3, -1, 5, 1, -22, 12, 7, 2, 2, 2, -14, 4, 5, 4, -2, -3, -2, -3, 4, 5, -3, -3, 1, 1, 1, 1, -8, 3, 8, 0, 18, 2, -1, 3, -5, 1, -2, 3, 6, 1, 4, 41, 0, 4, -2, -4, 6, 1, 1, 2, 3, 6, 0, -4, 13, -5, 3, -6, -5, -4, 3, -6, 3, -2, 0, 4, -4, -1, 9, 7, 3, -3, 4, 3, -4, -2, 5, 3, -8, 7, -3, 5, -3, 0, 1, -9, -3, 10, 4, 1, -8, 7, -5, 4, -8, -11, 0, -10, 8, 1, 7, -3, -6, -2, -7, 8, -5, -15, 6, 2, -1, -3, -8, 1, 0, -5, 1, 4, -3, -4, -4, 3, 0, -6, 1, 6, 3, -6, -8, -2, -3, 10, -5, 6, -12, 8, -7, 4, -2, 1, 6, 3, -2, 6, -3, 6, -5, 5, 9, 4, 7, 4, -15, 9, -4, 3, 7, -2, -1, 7, -1, 9, -5, -3, 9, -33, -3, 1, -4, 0, -2, -3, -5, -5, -1, 4, -9, 5, 9, 2, -2, 6, -1, 2, 3, -4, 1, 1, 2, 6, 12, 13, 1, 2, -1, 4, 0, -2, -11, 3, -6, 3, 6, -14, -1, 1, -6, -3, 5, 2, 6, -5, 1, 2, 7, 1, -1, 9, 7, 6, -9, -6, -4, -2, 2, 0, -4, 0, -4, 1, -13, -4, 3, 5, -4, -7, 12, -2, -3, 2, 0, 3, -2, -4, 2, 0, 2, 3, 5, 0, 4, 8, -5, 1, 0, -2, 7, -10, -4, 2, -8, -33, -3, 4, 8, 2, 4, -1, -1, -7, 6, -6, -3, 6, -2, -10, -4, 10, -1, 1, -2, 9, -7, 17, 3, -1, -5, -8, 8, -6, 6, 8, -3, 3, -7, 3, -6, 0, 5, 5, -5, -6, -9, -8, 0, -1, 5, -2, -9, -6, 1, -12, -4, -1, -3, 0, -7, 1, 1, 8, 6, 6, 4, -1, 6, 6], "explanation": ["An IPO is the first sale of stock to the public by a private company. This process allows a private company to raise capital by offering shares to the public for the first time. It marks the transition from private to public ownership."], "example": "Facebook's IPO in 2012 was its first public offering, allowing it to raise capital from the general public.", "whyItMatters": "Understanding an IPO is crucial for investors looking to invest in a company's growth and for companies seeking to expand through public funding.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Coast_review_%281910%29_%2814760820941%29.jpg/1280px-Coast_review_%281910%29_%2814760820941%29.jpg", "imageLicense": "No restrictions", "imageArtist": "Internet Archive Book Images"}, {"id": "1f21fac6d51f", "title": "Dual mandate (disambiguation)", "slug": "dual-mandate-disambiguation", "headline": "Federal Reserve's dual mandate focuses on maximum employment and price stability", "summary": "What the Federal Reserve's dual mandate is \u2014 maximum employment and price stability", "source": "What the Federal Reserve's dual mandate is \u2014 maximum employment and price stability", "sourceUrl": "https://en.wikipedia.org/wiki/Dual_mandate_(disambiguation)", "articleUrl": "https://en.wikipedia.org/wiki/Dual_mandate_(disambiguation)", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -6, -4, -2, 1, 5, 5, 3, -2, -5, -3, 2, -4, 3, 0, 2, 5, 1, -5, 4, 13, -9, -1, -11, 11, 3, -4, -2, 0, -24, 1, 3, -5, 1, 2, 3, 0, -1, -1, 2, -2, 5, -8, -4, -3, 1, -5, 1, -11, 1, 3, 1, 5, 8, 1, 8, -1, 3, -2, 0, 11, 0, -26, 0, 6, 1, -1, 0, -8, 5, 1, 0, -5, -6, 3, -3, 2, -2, 2, 4, -2, 0, 1, -5, -1, 0, -1, 1, 4, -3, -1, -4, 7, -1, -7, 5, 5, 11, -1, 46, 5, -6, 0, -2, 4, -1, 0, 1, 0, -2, 3, 2, 2, -3, 3, 1, -6, -2, 11, 5, 7, 5, 1, -6, -1, -8, 1, 10, 0, 0, 2, -14, 0, 2, -2, -1, -1, 6, 1, 6, -1, -2, 3, -10, 1, 16, 6, 1, -3, 3, -10, 1, 2, -4, 1, 9, -4, 1, -2, -10, -3, -3, -9, 8, 4, -1, 0, 1, -6, 4, 0, -2, 1, -10, 9, 5, -3, 8, -7, 1, 2, -10, -5, -5, -1, 1, -8, -3, -1, -5, -7, 5, -10, 4, -6, -9, 3, 7, -7, -5, -2, 4, -3, 9, 5, 5, -3, -2, 8, -3, 5, 8, 1, 0, -4, -4, 4, 5, -5, 4, 13, 2, 3, -44, -10, -9, -5, 1, 0, 10, -6, -8, 10, -1, -2, -3, 5, 1, -1, -5, -3, -3, 3, -1, 1, -2, 3, 9, -1, 7, -8, 3, -2, 0, -2, -1, -3, 1, 1, -6, -8, -7, 4, 2, 0, -2, -3, -3, -2, -2, 9, -2, 6, 3, -9, -2, -2, 2, -3, -2, 3, -8, 0, 3, 2, 4, 4, 4, 3, -1, 1, -4, 5, 1, -2, -3, -6, 7, 2, 9, 5, -3, -8, 12, -1, 2, 5, 3, 1, 11, -2, 5, -1, -7, 5, 2, -6, 0, 2, -32, -1, 2, -3, 4, -1, 4, 0, -11, 3, -6, 11, 1, 8, -3, 4, 9, -4, 2, -8, -1, 6, 15, -5, -5, -4, -2, 9, 7, -6, 4, 0, 9, -6, 4, 9, -3, 9, 6, 1, -12, -4, 7, 1, 11, -6, 0, -2, 4, 5, 2, -1, 0, 0, 2, -3, -5, 5, 2, 0, -1, 7, -9, -4, -3], "explanation": ["The Federal Reserve's dual mandate is a guiding principle for its monetary policy decisions in the United States. It aims to balance two primary objectives: controlling inflation and promoting employment. This dual mandate ensures that the Federal Reserve addresses both economic stability and growth."], "example": "The Federal Reserve may adjust interest rates to influence inflation and employment levels. For instance, lowering interest rates can stimulate economic activity and job creation, while raising rates can help control inflation.", "whyItMatters": "Understanding the Federal Reserve's dual mandate is crucial for grasping its approach to managing the U.S. economy, ensuring both price stability and maximum employment.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/4/4f/Credit-cards.jpg/1280px-Credit-cards.jpg", "imageLicense": "CC BY-SA 2.5", "imageArtist": "Lotus Head from Johannesburg, Gauteng, South Africa"}, {"id": "096eba6b2765", "title": "Interest rate", "slug": "interest-rate", "headline": "Raising interest rates makes borrowing more expensive", "summary": "What raising interest rates does \u2014 makes borrowing more expensive, slows spending and inflation", "source": "What raising interest rates does \u2014 makes borrowing more expensive, slows spending and inflation", "sourceUrl": "https://en.wikipedia.org/wiki/Interest_rate", "articleUrl": "https://en.wikipedia.org/wiki/Interest_rate", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, 1, 0, 7, 9, -7, 2, 1, 3, -4, 6, 1, 3, 3, 0, 2, -2, -6, -9, 6, 6, -2, 4, -7, 10, -1, 3, -5, -1, -21, 9, 1, 3, 2, 2, 0, -3, 3, -3, 6, -7, 5, -6, -8, -1, 3, 0, 0, -1, 2, -2, -9, -8, 7, 3, 4, -1, 6, 1, -2, 4, 2, -18, 9, 4, -2, 3, 8, -2, 1, -5, 1, -3, 1, 7, -7, 0, -2, 6, 8, 4, 2, -7, 0, 3, -12, 3, -6, 1, -5, 0, -2, -5, -1, -3, 3, 6, 9, -12, 44, 3, 3, -7, 1, 2, -9, 2, 4, -5, 1, 4, 4, 3, 6, -1, -4, 0, -5, 7, 7, -1, 5, 3, -3, -5, -7, -2, 15, 3, -3, -1, -11, -15, 1, -1, -6, -4, 7, 1, 3, -7, 3, -3, -9, -5, 11, 6, 5, -3, 1, -4, 4, -3, -11, -1, 0, 4, -2, 6, -2, -8, 4, -9, 0, 8, -6, -7, -2, -2, -2, -2, 3, -3, -4, 7, -2, -4, -1, 0, 0, 6, -3, -7, 4, -2, -5, -11, -7, 0, -6, -6, -3, -13, 3, -8, -3, 1, 12, -10, -4, 2, 6, -3, 6, 0, 2, 4, -1, 8, -2, 2, 3, 13, 3, -4, 1, 3, 9, 3, -3, 2, -8, 6, -43, -5, -2, -4, 10, -4, 7, -2, 0, 7, -11, -6, -5, 2, 5, 6, -6, -1, 0, 4, -8, 2, 0, 2, 1, 0, 12, -9, -5, 6, 4, -4, -4, -4, 6, 4, 8, -1, -9, -3, 0, 2, -8, 8, -8, 5, 2, 5, 1, 3, 1, -2, 4, -7, 0, -10, -7, 3, -4, 5, 4, 3, 9, -4, 7, -1, -9, -2, -8, 9, 1, 7, -7, -1, 5, 7, 1, 0, -1, -3, 5, 1, 3, 7, -3, -9, 1, 1, 1, -4, -6, 1, -9, 0, 6, 4, -31, 0, 4, -5, -3, 7, 4, 2, 3, 3, -4, 8, 3, 9, 0, 2, 10, -7, 3, -1, -2, 0, 21, 2, -4, 1, 0, 8, 16, -5, -2, 2, 9, -2, 2, 3, -2, 1, -3, -1, -1, 4, -6, -2, 8, -3, 0, -3, 3, 6, 4, -2, 7, 2, 0, -4, -10, 7, 4, 5, -4, 0, -1, 2, 5], "explanation": ["Higher interest rates can also discourage companies from taking on new debt for expansion or investment, as the cost of financing becomes prohibitive. This can lead to slower economic growth and reduced inflationary pressures."], "whyItMatters": "Understanding the impact of interest rates on borrowing and spending is crucial for policymakers and businesses to manage economic stability and growth.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/4/44/OSH_gift_card.jpg", "imageLicense": "CC BY 2.0", "imageArtist": "Tom Eppenberger Jr.  Color-corrected and cropped by Daniel Case"}, {"id": "3db467200745", "title": "Quantitative easing", "slug": "quantitative-easing", "headline": "Central banks buy assets to increase money supply", "summary": "What quantitative easing does \u2014 central bank buys assets to inject money into the economy", "source": "What quantitative easing does \u2014 central bank buys assets to inject money into the economy", "sourceUrl": "https://en.wikipedia.org/wiki/Quantitative_easing", "articleUrl": "https://en.wikipedia.org/wiki/Quantitative_easing", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -5, -4, 3, 6, -5, 6, 2, -3, 1, 8, -3, 7, -6, 5, 3, 0, -9, -9, 6, 5, 4, 1, -13, 10, -3, 1, -7, 2, -20, 7, -2, -4, -3, 4, 1, 0, 1, 6, -2, 0, 5, -5, -9, 6, -1, 1, 4, -5, 0, 8, -2, 1, 3, -6, 9, -2, 5, 4, 4, 8, 0, -17, 2, 3, -2, 9, 10, -6, 2, -3, 0, 2, 0, 2, -6, 3, -1, -7, 5, 4, 0, -3, 4, -7, 4, -4, -3, 4, -2, -4, -3, -2, 1, 3, 0, 4, 5, -3, 48, 10, 4, -7, -5, 3, -5, -2, -4, 3, 0, 2, 2, 4, -7, -9, -8, -6, 1, 1, -2, 6, 2, 5, 2, -6, -8, 0, 5, 0, -1, 0, -5, -11, -2, -4, 5, -2, 5, -5, 7, 4, 4, 3, -12, -9, 9, 7, 3, -5, 0, 2, 13, -1, 0, -3, 5, 4, 1, 2, -8, -11, 1, -9, 2, 4, -5, -8, -1, 0, 0, 4, 3, -11, 2, 13, -3, -3, -4, 5, 1, -3, 0, -6, 0, -2, 3, -13, 3, 0, -6, -6, 8, -8, 0, -5, -2, -2, 10, -11, -5, 0, 4, -2, 3, -1, 0, -7, -7, 7, 3, 10, 8, 0, 3, -5, 1, 4, 2, -1, -3, 0, -1, -2, -39, -7, -1, -6, 14, -6, 4, -5, -5, 5, -3, -6, -6, 1, 5, -4, -3, -3, -6, 2, -11, 4, -13, 3, 0, -1, 14, -9, 0, 10, -1, 2, -4, -10, 0, 1, 5, 3, -10, 3, 0, 2, -5, 2, 4, 7, -6, 0, -1, 3, 3, 5, 1, 6, 3, -10, -2, 4, 3, 10, 6, 6, 4, -5, 10, -8, 2, -10, -2, 10, 7, 7, -3, -4, 5, 6, 6, -1, -3, 1, 4, -7, 4, 3, 0, 2, 3, -6, 1, 0, -7, 0, -3, 4, 2, -5, -31, -1, 6, -8, -4, 4, 4, 3, -4, 12, -7, 3, 3, 2, -3, -3, 11, -8, 7, -1, 1, -3, 21, 5, -1, -2, 2, 2, 9, 0, 4, 0, 6, -2, -1, 2, -8, 10, 6, 3, -5, -2, 0, -3, 3, -6, 3, -7, -2, 0, 6, 4, 5, -4, 8, -2, -6, 2, 8, 11, 4, -5, -4, 2, 5], "explanation": ["Central banks use quantitative easing to stimulate economic activity by purchasing financial assets. This action raises asset prices and lowers their yields, injecting liquidity into the economy. Unlike conventional monetary policy, QE often involves buying riskier or longer-term assets."], "example": "In response to the 2008 financial crisis, the US Federal Reserve purchased large amounts of government bonds and company shares to inject money into the economy.", "whyItMatters": "This matters because QE helps mitigate economic recessions and low or negative inflation, supporting overall economic stability.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Government-Vedder-Highsmith-detail-1.jpeg/1280px-Government-Vedder-Highsmith-detail-1.jpeg"}, {"id": "80adab6066f0", "title": "Quantitative tightening", "slug": "quantitative-tightening", "headline": "Central banks use QT to reduce money supply and increase interest rates", "summary": "What quantitative tightening does \u2014 central bank reduces its balance sheet, removing money", "source": "What quantitative tightening does \u2014 central bank reduces its balance sheet, removing money", "sourceUrl": "https://en.wikipedia.org/wiki/Quantitative_tightening", "articleUrl": "https://en.wikipedia.org/wiki/Quantitative_tightening", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-5, 3, -1, 4, 7, -3, 1, 7, 6, -2, 7, -2, 3, -4, 7, -6, 0, -8, -8, 3, 5, 0, -1, -6, 11, -5, -1, -10, 1, -21, 4, 3, -3, 1, 3, 8, -7, -1, 0, 3, 3, 7, 2, -8, 6, 0, -1, 5, -4, 7, 4, -3, -1, 2, -2, 3, 4, 10, 4, 3, 8, 1, -20, 4, 4, 1, 4, 6, -1, 3, -7, -4, -3, 0, 2, -12, 3, -2, -7, 1, 4, 4, -6, 5, -3, -2, 1, -5, 1, -7, -6, -3, 0, 2, 2, 1, -2, 3, -3, 47, 8, 3, -9, -2, 4, -7, 2, -3, 2, -1, 0, 1, 2, -6, -6, -4, -3, -2, 6, 5, 1, 4, 8, 3, 0, -1, -3, 5, -4, -1, 1, -5, -5, -1, -3, 2, 0, 7, 4, 4, 0, 4, 3, -13, -9, 10, 4, 4, 0, -4, 3, 6, 1, -7, 5, 8, 0, -3, -1, -2, -8, -4, -9, 2, 1, -6, -2, 0, 1, -2, 4, 1, -8, -2, 9, -3, 1, -4, 6, 3, -1, -2, -5, 1, 0, 6, -7, 1, 3, -8, -6, 2, -11, -2, -5, 2, -2, 7, -11, -5, 2, 1, 0, 3, -2, 4, -5, -11, 5, 6, 10, 4, 3, 0, -2, 1, 7, 6, -8, -2, 1, 0, -3, -41, -10, 0, -6, 19, -4, -2, -6, -1, 1, -5, -1, -8, -8, 7, -2, -4, 3, -10, -2, -3, 5, -10, -5, -1, 1, 14, -12, 0, 7, 3, 2, -4, -9, 2, 3, 2, 7, -2, 1, 1, 4, 0, -2, 4, 6, -4, 1, -3, 3, 0, -2, -6, 3, 5, -10, -3, 8, -5, 1, 1, 5, 5, 2, 4, 2, -3, 0, 2, 7, 1, 8, -2, -3, 0, 0, 7, -1, -6, -8, 4, -4, 9, 4, -2, 1, 11, -2, 7, 1, -7, -1, 2, 5, 2, -5, -31, 0, 3, -7, -1, 7, 2, 3, -2, 10, -6, 3, 6, -2, -2, -4, 10, -14, 7, 3, 2, -4, 21, 5, -2, 0, 0, 6, 16, -3, -2, 1, 6, -6, 3, 2, -11, 7, 4, -2, -3, 2, -1, -5, 15, -2, -3, -11, 6, 0, -1, 5, 3, 0, 2, -3, -11, 0, 10, 8, 3, -7, -6, 0, 0], "explanation": ["Quantitative tightening (QT) is a contractionary monetary policy tool used by central banks to decrease liquidity in the economy. QT involves the central bank reducing its balance sheet by selling financial assets, which leads to a decrease in asset prices and an increase in interest rates. This process is essentially the opposite of quantitative easing (QE), where the central bank injects liquidity into the economy by purchasing assets."], "example": "In 2022, the Federal Reserve implemented QT by selling government securities, which resulted in a decrease in bond prices and an increase in interest rates.", "whyItMatters": "Understanding QT is crucial for grasping how central banks manage economic stability and control inflation.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/f/f5/FFR_treasuries.webp/1280px-FFR_treasuries.webp.png"}, {"id": "cbd5f2b0dd34", "title": "Federal funds rate", "slug": "federal-funds-rate", "headline": "Federal funds rate: interest rate for overnight loans between banks", "summary": "What the federal funds rate is \u2014 the rate banks charge each other for overnight loans", "source": "What the federal funds rate is \u2014 the rate banks charge each other for overnight loans", "sourceUrl": "https://en.wikipedia.org/wiki/Federal_funds_rate", "articleUrl": "https://en.wikipedia.org/wiki/Federal_funds_rate", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-2, -8, -7, 9, 7, -5, 4, 0, 7, -6, -2, 4, -10, -5, -5, 2, -2, -6, -6, 6, 12, -8, 6, -12, 3, 1, 3, -8, -3, -18, 0, 2, -7, -5, 5, 0, 10, 2, -2, 6, -6, 3, 0, -4, 0, 2, 0, 0, -5, 5, 6, -9, -1, 3, -7, 9, 8, 4, 7, 3, 7, 1, -20, 1, 4, 2, 3, 3, -4, 2, -5, -1, 0, -2, 6, -3, 7, 4, 1, 9, -6, -2, 0, -7, 2, -3, 4, -2, 0, 3, -4, -3, 1, -3, -5, 1, 3, 9, 0, 41, -5, -1, 6, -6, 0, -13, -4, -3, 1, 3, -6, 5, 0, -4, 1, 2, 2, 0, 11, 2, 2, 2, -2, -1, 1, -6, -10, 5, 1, 1, 0, -9, -7, -6, -2, 1, -6, -2, 2, 3, -3, -5, 0, -4, -10, 14, 1, 8, -2, 6, 0, 4, -7, -11, 2, 5, 2, 2, 3, 2, 0, -5, -7, 1, 9, -9, -4, 2, -2, -4, 0, 4, -5, 1, 4, -5, 6, -1, -1, -4, -1, -4, -2, 1, -5, 4, -12, -4, -3, -2, -2, -6, -3, 9, -9, -1, 6, 2, -5, -5, 6, 7, 2, 9, -3, 7, -4, 3, 1, 0, 5, 1, 0, -1, 1, -2, 6, 8, -11, 6, 2, -3, 5, -42, -5, 0, -5, 7, 2, 4, 3, -13, 12, 3, -10, -8, -3, 4, 9, -1, 2, 1, -4, 0, -1, -1, 8, 9, 4, 12, -8, 4, -3, 3, -6, 0, 0, 1, -6, 6, 0, 1, -2, -7, 5, 3, 4, -1, -3, 3, 1, -4, -1, -2, -5, -5, 0, 14, -7, -6, 6, -7, -4, 8, 2, 9, -4, 10, -7, -5, 6, -1, 8, 2, 5, -1, -5, 4, 1, 6, 7, -5, -5, 5, -9, 8, 4, -1, 5, 4, 6, 2, -5, -2, 3, -3, 2, -3, 0, -32, 0, 3, -2, 2, -3, 13, -2, 0, 7, 2, 1, 0, 5, 0, 5, 11, -6, 2, -4, 8, -7, 19, 0, -3, 1, -13, 13, 18, 5, 7, 9, 6, -6, 2, -3, -2, 7, 7, -4, -6, 2, -4, -4, 4, -2, 0, -6, -8, 3, 4, -4, 1, -1, 7, -5, -5, 0, 0, 5, -8, 4, -9, -4, 4], "explanation": ["The federal funds target range is set by the Federal Open Market Committee (FOMC), which meets eight times a year. The FOMC can also hold additional meetings to adjust the target rate. The FOMC's decisions impact the federal funds rate and monetary policy."], "example": "A bank with excess reserves lends $1 million to another bank overnight at the federal funds rate.", "whyItMatters": "Understanding the federal funds rate helps grasp how monetary policy influences economic conditions and interest rates.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/a/ab/Inflation_compared_to_federal_funds_rate.jpg/1280px-Inflation_compared_to_federal_funds_rate.jpg"}, {"id": "6ae6d103e7fc", "title": "Discount rate", "slug": "discount-rate", "headline": "Discount rate is the interest rate the Fed charges banks for emergency borrowing", "summary": "What the discount rate is \u2014 the rate the Fed charges banks for emergency borrowing", "source": "What the discount rate is \u2014 the rate the Fed charges banks for emergency borrowing", "sourceUrl": "https://en.wikipedia.org/wiki/Discount_rate", "articleUrl": "https://en.wikipedia.org/wiki/Discount_rate", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -6, -7, 12, 9, -5, 13, 10, 6, 1, -2, 4, -9, 1, -6, 6, 0, -3, -5, 6, 16, -7, 3, -9, 7, -3, -2, 0, -7, -17, 3, 1, 5, -2, 1, 1, 2, 3, 0, 8, -3, 0, -4, -3, -6, 3, -4, 6, -2, -2, 11, -5, -1, 3, -3, 2, -2, 3, 6, 0, 6, 5, -16, 7, 1, 1, 2, 8, 1, -1, -6, 0, -3, 0, 7, -4, 5, 2, -5, 6, 1, -3, 1, 0, 6, -5, 5, -5, 9, -2, -6, 5, 2, 4, -5, 1, 5, 12, -5, 43, -3, 1, 2, 3, 0, -21, -2, 1, -3, -3, -1, 0, 5, -5, 7, -2, -6, 2, 10, 3, 3, 2, 3, -1, -2, -6, -6, 12, 0, 5, 4, -17, -8, -2, 3, -1, -3, 10, -1, 2, 2, -4, -1, -11, -8, 8, -1, 6, -3, 3, -7, 4, -2, -13, -5, 10, -1, -2, -3, 3, 1, 0, -7, 7, 0, -6, 4, 1, -1, 2, -2, -2, -4, -2, 11, 2, 3, -4, -2, -5, 2, -4, 4, 3, -2, -1, -13, -2, 1, -2, -8, -4, -6, 9, -14, 1, 3, 2, -2, -1, 0, 2, 3, 6, 5, 7, 1, 3, 1, 3, 4, 2, 1, 1, 0, -6, 4, 5, -9, -3, 1, -5, 6, -41, -9, -3, -4, 12, -5, 6, -3, -7, 4, -5, -12, -5, -10, 6, 4, 2, -4, 2, 3, 1, 1, -1, 5, 4, 3, 9, -2, 2, 5, -4, -7, 4, -2, 0, -1, -2, -2, -4, -5, -5, 2, -1, 0, -1, 1, 6, 5, -9, 2, 2, -6, 2, -1, 12, -4, -4, 9, -8, -1, 13, 1, 4, -4, 3, -1, -2, 5, -2, 4, 0, 7, -4, -9, -4, 5, 3, 0, -3, -6, 4, 0, 1, 6, -2, 0, 5, 0, -3, -7, -9, 1, -1, 1, -2, -8, -31, 6, 0, -3, 2, -1, 7, -1, -6, 5, 5, 2, 8, 3, -2, -1, 9, -8, 8, -2, -3, 0, 18, 7, -6, -3, -8, 9, 19, -5, 3, -1, 6, -10, 3, -4, -4, 9, 2, -5, -6, 2, -3, -3, 6, 4, -1, -7, -2, 5, 6, -4, 0, -6, 4, -6, -9, 5, 3, 5, -6, 1, 5, -3, 6], "explanation": ["The discount rate is a crucial monetary policy tool used by the Federal Reserve to influence the economy. By adjusting this rate, the Fed can either encourage banks to borrow more, stimulating economic activity, or discourage borrowing to cool down inflationary pressures. This rate directly impacts the cost of borrowing for banks, which in turn affects interest rates for consumers and businesses."], "example": "If the Federal Reserve decides to lower the discount rate, commercial banks may find it cheaper to borrow money. This could lead to lower interest rates for mortgages, car loans, and other consumer loans, encouraging spending and investment.", "whyItMatters": "Understanding the discount rate is essential for grasping how central banks manage economic stability and influence financial markets.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/3/3f/Two_debit_cards_overlapping_%282025-08-25%29.jpg/1280px-Two_debit_cards_overlapping_%282025-08-25%29.jpg", "imageLicense": "CC BY 4.0", "imageArtist": "VulcanSphere"}, {"id": "74e7af26f4ac", "title": "Reserve requirement", "slug": "reserve-requirement", "headline": "Reserve requirements mandate minimum cash holdings for banks", "summary": "What reserve requirements do \u2014 mandate how much cash banks must hold against deposits", "source": "What reserve requirements do \u2014 mandate how much cash banks must hold against deposits", "sourceUrl": "https://en.wikipedia.org/wiki/Reserve_requirement", "articleUrl": "https://en.wikipedia.org/wiki/Reserve_requirement", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, -5, -5, -3, -1, 6, 5, -3, 4, -3, -5, -9, -4, 4, 1, 0, 4, -1, -6, 15, 5, -1, -1, -6, 8, -1, -6, -7, -8, -23, -1, -5, 0, -7, 3, 5, -2, 2, 0, 3, -7, 6, 6, -8, 0, 2, -1, 5, 0, 3, 11, -4, 1, 1, 0, 1, 3, 4, 3, -5, 7, -4, -19, 0, 3, 6, 1, 7, 4, 2, 0, -10, -9, 1, -2, -5, 3, 0, -5, -1, -5, -1, 7, 1, -2, -3, 1, -3, 1, -5, 1, 0, 1, -1, -4, -1, 4, 0, -9, 43, 14, 3, -7, 4, 8, -2, 1, -4, -3, -13, -1, -4, 10, -6, -1, 3, -7, -2, -3, 6, 0, 6, 0, 2, -2, -5, -1, 7, -1, 8, -3, -6, -6, 1, -1, -6, -1, 8, 5, 1, 0, -4, 5, -7, 2, 15, 0, 2, -4, -6, -6, -1, -7, -7, 3, 2, -3, 3, -4, -1, -7, -1, -6, 1, 2, -7, -5, -9, 1, 5, 0, 2, -8, 2, 6, 0, -4, 4, -12, 4, -6, -2, -5, -5, -2, 2, -4, -1, 1, -5, -17, -1, -11, 5, -3, -2, 5, 4, -4, 0, -2, 9, 3, 3, 4, 4, -1, -5, 7, 1, 0, 6, -2, 2, 1, -5, 5, 2, 5, 6, 12, 4, 1, -43, 3, -4, -4, 12, 1, 1, 1, -15, 5, -2, -9, 2, 3, -1, 0, -11, -5, -3, -1, 2, 4, -9, 4, 12, -3, 9, -6, -4, 2, 2, 2, -1, -6, 4, 2, -10, 4, -3, 2, -1, 5, -4, 8, -5, 2, -5, 9, 1, 6, 0, 5, -9, 7, 5, -7, -4, 2, -3, 10, 3, 1, 4, -4, 1, -1, -4, 7, -2, 7, 7, -1, 2, -8, 7, -2, 6, 3, -2, -3, 3, -6, 3, 1, 0, 16, 9, 4, -3, 2, -1, 2, -6, 1, 7, -5, -31, 4, 6, 6, 7, 1, 8, 5, -8, 9, 4, 1, 3, -4, 1, -2, 5, -7, 3, -10, 2, 0, 19, -2, -6, -2, -1, 7, 14, -2, 6, -1, 13, -2, -4, 11, -4, 4, 5, 4, -5, -9, 2, -3, 11, -4, 4, -10, 7, 3, 0, -3, 1, 0, 6, 0, 0, 0, 3, 10, -2, -2, 2, 0, 1], "explanation": ["The reserve ratio is determined by the central bank and can influence the lending capacity of banks. By adjusting the reserve ratio, monetary authorities can control the money supply. A higher reserve ratio reduces the amount banks can lend, while a lower reserve ratio allows for more lending."], "example": "If a bank has $1 billion in deposits and the reserve ratio is 10%, the bank must hold $100 million in reserves.", "whyItMatters": "Understanding reserve requirements is crucial for banks to comply with regulations and for monetary authorities to manage the money supply effectively.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Automated_teller_machine.JPG/1280px-Automated_teller_machine.JPG", "imageLicense": "Public domain", "imageArtist": "Elph"}, {"id": "c31d684a946e", "title": "Fractional-reserve banking", "slug": "fractional-reserve-banking", "headline": "Banks lend out most of their deposits", "summary": "What fractional reserve banking means \u2014 banks lend out most of their deposits", "source": "What fractional reserve banking means \u2014 banks lend out most of their deposits", "sourceUrl": "https://en.wikipedia.org/wiki/Fractional-reserve_banking", "articleUrl": "https://en.wikipedia.org/wiki/Fractional-reserve_banking", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [1, -6, -6, -2, -3, -8, 5, -6, 12, 2, -3, -9, -5, 2, 0, -1, 2, -2, 0, 6, 7, -4, -3, -8, 13, 1, 2, -7, -8, -19, 4, 5, 2, -3, 7, 2, -6, -4, 0, 5, -1, 0, -1, -7, 1, 5, 0, -1, -2, 0, 12, -3, 1, 1, -2, 6, -1, 5, 6, 5, 13, 5, -19, 2, 6, -1, 2, 4, 2, -3, 4, -4, -5, 2, 5, 3, 5, -7, -9, 8, 0, -2, 2, -5, -1, -5, 2, -4, 9, 0, 0, -2, -1, -2, 1, -1, 1, 1, 0, 44, 9, 6, 4, 3, 11, -7, 2, -2, 0, -5, -4, 1, 20, -5, 0, -10, -4, 6, 3, 4, -4, -2, 4, 0, -4, -6, -2, 13, -1, 6, -4, -2, -12, -8, 2, -4, -1, 1, 0, 6, 0, 0, -2, -6, -8, 11, 0, -3, 0, 2, -2, 6, -2, -6, 4, 4, 4, 1, 1, 4, -1, -9, -4, 1, 4, -5, -9, -2, 3, 3, 0, -3, -10, 0, 8, 0, -7, -5, -1, 2, 4, 0, -10, 4, -2, 2, -7, -8, 3, -6, -9, 7, -11, -4, 3, -1, -3, 7, -9, -3, -5, 9, -1, 1, 3, 10, -3, -8, 2, -1, 4, 2, 1, 8, 4, -5, 4, 0, 1, 2, 10, -9, -3, -36, -7, -3, -8, 11, -4, 5, 2, -6, -3, -3, -5, 2, -2, 5, 5, -9, 11, -6, 2, -2, 1, -2, -1, 3, 2, 10, -9, -2, 1, -1, -2, 0, 2, 8, -9, -6, -2, -4, -2, -1, -8, 0, 2, -3, -1, -3, 5, -4, -3, 2, -2, -4, 7, 13, -5, -4, 4, -6, 15, 10, -3, 4, 0, -2, -4, -1, 0, 6, 8, -5, 8, 1, -6, 8, 5, 5, 3, -1, -4, 7, -13, 4, 4, -2, 9, 6, 3, -3, 1, -5, 3, -2, 0, 1, -8, -36, 6, 2, -1, 1, 0, 6, 4, -9, 7, 1, 4, 1, -6, -2, 1, 10, -6, 7, -9, 1, 0, 17, 2, -4, -3, -7, 3, 13, -2, 6, 1, 11, -5, 0, 3, -2, 4, 11, -3, -1, -3, -6, -2, 4, 1, 2, -14, 4, 6, 4, -8, -2, 1, -1, 1, -5, 3, 4, 9, -2, 4, 5, -3, 0], "explanation": ["The reserve requirement set by the central bank determines the minimum amount banks must hold in reserves. Banks can hold excess reserves beyond this minimum, but they must still maintain a fraction of deposits as reserves. This ensures liquidity and stability in the banking system."], "example": "If a bank receives a deposit of $1,000 and the reserve requirement is 10%, the bank must hold $100 as reserves. The remaining $900 can be lent out to borrowers.", "whyItMatters": "Understanding fractional-reserve banking is crucial for grasping how banks create money and manage liquidity.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/2/28/Saenredam_-_Het_oude_stadhuis_te_Amsterdam.jpeg/1280px-Saenredam_-_Het_oude_stadhuis_te_Amsterdam.jpeg"}, {"id": "f31307d752b3", "title": "Money multiplier", "slug": "money-multiplier", "headline": "A $100 deposit can create $1,000 in loans through the system", "summary": "What the money multiplier does \u2014 a $100 deposit can create $1,000 in loans through the system", "source": "What the money multiplier does \u2014 a $100 deposit can create $1,000 in loans through the system", "sourceUrl": "https://en.wikipedia.org/wiki/Money_multiplier", "articleUrl": "https://en.wikipedia.org/wiki/Money_multiplier", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -8, -1, -6, -4, -7, -3, 0, 3, 3, 6, 4, -1, 1, 4, 3, -7, -10, -11, 9, 9, -5, -3, -8, 9, -4, 1, -6, 3, -22, 7, 0, 1, -3, -4, -3, -3, 1, 1, 1, -5, 2, 0, -2, -2, 3, -8, 11, 10, 4, 3, -7, 5, 12, 1, -2, -2, 7, -1, -3, 5, 5, -17, 0, 2, 1, 3, 2, 6, 4, -2, -4, -4, 1, 3, -8, 0, 2, -3, 10, -1, -4, -2, -3, -4, -1, 9, -1, 5, -8, -5, -2, -2, -5, 0, 1, 0, 5, -8, 43, 5, -1, -1, -6, 9, -3, 0, -1, -9, -5, 0, -4, 8, -2, -3, -3, -4, -1, 4, 0, -1, -2, -2, 5, -12, -4, 3, 8, -2, 9, 4, 1, -8, -5, 5, 2, -1, 6, 3, 0, -2, 4, -4, -7, -2, 11, 1, 3, 1, -2, -2, 8, 2, -15, 1, 2, 7, 2, 4, 3, -1, -4, 0, 2, 11, -10, 5, 0, 1, 2, -1, -6, -12, -8, 14, -3, -12, 0, 3, 5, -1, 2, -5, 9, -5, -3, -6, -2, -4, -5, -2, 7, -17, 6, -6, 2, 7, 0, -7, -7, 6, 8, 1, 6, -7, 5, 2, -3, 4, -1, 5, 6, 6, 6, -4, -6, 0, 5, 5, 3, 6, -6, -3, -40, -5, 3, 0, 11, -6, -2, -5, -6, 0, 3, -6, 8, 5, 10, 5, -9, 3, -1, -5, 0, 2, 0, -4, 0, 4, 13, -9, -4, 1, 4, -2, -4, 2, 5, -1, -2, 5, -3, -6, -5, 6, -3, -5, 0, 7, -4, 0, -3, 2, 2, 3, 0, 7, 9, -5, -8, 6, -4, 5, 5, -6, 8, 3, 6, -3, -5, -3, 2, 0, 7, 5, 5, -3, 5, -1, 8, -3, -3, 2, 0, -9, -2, 4, 3, 5, 3, 4, 2, -3, -10, -2, -2, 10, -5, -4, -37, -6, 5, 4, 0, 2, 0, 8, -5, 5, 5, 4, 6, -5, 0, -1, 5, -1, 4, -3, 2, 0, 20, 6, -2, 1, -10, 5, 15, 1, 4, 2, 3, -6, 1, 0, -11, 2, 3, 0, -10, -6, -7, 2, 2, 6, 6, -11, 1, 4, 3, -2, 7, -2, 2, 4, -4, 5, 2, 4, -6, 3, 4, -2, -4], "explanation": ["The money multiplier concept explains how banks can increase the money supply through lending. The multiplier effect occurs because banks are required to keep only a fraction of deposits as reserves, allowing them to lend out the rest."], "example": "If a bank receives a $100 deposit and the reserve ratio is 10%, it must keep $10 as reserves and can lend out $90. The $90 loaned out can then be deposited in another bank, which keeps $9 as reserves and lends out $81, and so on.", "whyItMatters": "Understanding the money multiplier is crucial for grasping how monetary policy influences the economy and the money supply.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Bank_Muamalat.JPG/1280px-Bank_Muamalat.JPG", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Melwinsy"}, {"id": "be1dfa3952fc", "title": "Open market operation", "slug": "open-market-operation", "headline": "The Fed buys/sells Treasury securities to control money supply", "summary": "What open market operations do \u2014 the Fed buys/sells Treasury securities to control money supply", "source": "What open market operations do \u2014 the Fed buys/sells Treasury securities to control money supply", "sourceUrl": "https://en.wikipedia.org/wiki/Open_market_operation", "articleUrl": "https://en.wikipedia.org/wiki/Open_market_operation", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [9, -9, -1, 4, 2, -4, 7, 6, -2, 2, -1, 4, -3, 2, 2, -4, -2, -10, -2, 7, 10, -6, -9, -8, 8, 5, -2, 0, -5, -19, -2, 1, -8, -2, 3, 0, -4, 1, -1, 4, -2, -3, 0, -1, 4, 1, -2, 5, -6, 2, 5, 3, 3, 9, 2, 1, 1, 9, 2, 5, 11, -3, -22, 5, 4, 3, 11, 9, -2, 4, 3, -2, -3, -5, -2, 0, 3, 3, -7, 5, 1, 1, 1, 2, -6, -4, 5, -4, 8, 4, -4, 2, 0, -2, 0, 1, -2, 12, 0, 44, 10, -1, -6, -4, 5, -4, -1, 6, -7, 4, -4, 1, 6, -7, 0, -9, -3, 3, 3, 3, 3, -1, -1, 2, -4, -10, 4, 12, -1, 0, 1, -9, -9, 0, 2, 3, -8, 1, -2, 2, -6, 4, 9, -13, -7, 12, 6, 0, -3, 3, -8, 7, -1, -6, -3, 6, 2, 2, 0, -5, -7, 5, -3, 11, 3, -11, -4, -1, -4, -2, 3, 0, -3, -4, 6, -1, -7, -8, -7, -3, -4, -7, 0, -1, -5, 1, -11, -3, -1, 0, -8, 3, -6, 3, -10, 0, -1, 4, -11, 1, -1, 3, -2, 4, 1, 1, 1, -4, 2, 3, -2, 8, -4, 5, -10, -2, 1, 3, -6, 1, 7, 2, 2, -42, -16, -1, -3, 7, -3, 5, -3, -5, 7, -2, -2, -7, 0, 4, -3, -4, 0, -7, 3, 0, 4, -1, 1, 4, 9, 9, -2, 9, 1, 3, -5, -1, -3, 1, 4, 6, 8, -4, -1, -8, 2, -2, 4, 5, 5, -4, 0, 2, 6, -1, -3, 6, 10, 0, -6, -1, -1, -1, 2, 2, 5, -4, -2, 3, -3, 1, -5, -3, 1, 1, 1, -8, -3, -4, 6, -1, -3, -4, 2, 8, 5, 4, 6, -2, 3, 5, -3, 3, -3, -4, 3, -2, 2, 7, 2, -32, 0, 13, -6, -4, 2, 8, 6, -10, 4, -3, -1, 4, 6, -8, -4, 13, -9, 9, -4, 5, 4, 22, 6, -2, -2, 3, 4, 11, -7, 20, 0, -1, -5, 5, 0, -4, 11, 3, 2, -9, -1, -1, -5, 8, -5, 0, -7, 3, 1, 0, -5, -1, -7, 0, -4, -4, 4, 8, 9, -8, -8, -1, 6, 3], "explanation": ["Open market operations (OMOs) are a tool used by central banks to manage liquidity in the banking system. These operations involve the buying and selling of government bonds and other financial assets. The central bank can either transact government bonds in the open market or enter into repurchase agreements or secured lending transactions with commercial banks.", "Central banks regularly use OMOs as one of their tools for implementing monetary policy. A frequent aim of open market operations is to influence the short-term interest rate. By buying securities, the central bank injects liquidity into the banking system, lowering interest rates. Conversely, selling securities withdraws liquidity, raising interest rates.", "Since the 2008 financial crisis, the prominence of OMOs in influencing short-term interest rates has diminished for many central banks. This is because many central banks have shifted to a floor system, where there is abundant liquidity in the payments system. In this system, central banks no longer need to fine-tune the supply of reserves to meet demand."], "whyItMatters": "Understanding OMOs is crucial for grasping how central banks manage the money supply and influence interest rates. This knowledge helps in comprehending broader economic policies and their impacts.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Dubai_gold_coins.jpg/1280px-Dubai_gold_coins.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Wehwalt"}, {"id": "6e56749f8365", "title": "Inflation targeting", "slug": "inflation-targeting", "headline": "Central banks aim for a specific inflation rate, usually 2%", "summary": "What inflation targeting means \u2014 central banks aim for a specific inflation rate, usually 2%", "source": "What inflation targeting means \u2014 central banks aim for a specific inflation rate, usually 2%", "sourceUrl": "https://en.wikipedia.org/wiki/Inflation_targeting", "articleUrl": "https://en.wikipedia.org/wiki/Inflation_targeting", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [0, -1, -8, 0, 6, -5, 8, 2, 4, -3, 5, -4, -7, 7, -2, 8, -8, -5, 1, 5, 13, -1, 5, -12, 9, 4, -1, -6, -3, -19, -3, -5, 1, -2, -4, 2, 3, 6, 2, 3, -1, 6, 2, -1, 3, 0, -4, 6, -6, 3, 7, -1, -5, 0, -5, 10, -1, 7, 8, -2, -1, 3, -20, -5, 2, 3, 4, 4, -10, 11, 4, -1, -4, -1, 1, -4, 2, -5, -3, 3, 0, 1, -3, -5, 0, 2, 4, -4, 6, -6, 7, 2, -1, 3, -3, 6, 11, 10, -4, 40, 6, -5, 2, 5, 5, -9, -5, 2, 1, -4, -4, -1, 6, -6, 3, 2, -5, 0, 3, 3, 6, -1, 7, -3, 1, 2, 3, 7, 1, 4, 5, -7, -10, 5, -2, 0, 0, 8, 3, 7, 2, -7, 3, -7, -6, 13, 3, 0, -7, 1, 3, 8, -2, 1, 0, 6, 1, -4, 3, -9, -8, -3, -14, 0, 0, -1, -9, 3, -2, 5, 1, 9, -3, -2, 8, 3, -5, 2, -6, -2, 2, 0, 0, -1, -2, -2, -10, -3, 2, -8, -13, 3, -13, 0, 1, 0, 3, 5, -5, -5, -4, 6, -1, 8, 8, 4, 1, -5, 7, -12, 3, 4, 0, -3, -5, -4, 3, 4, -2, 2, -2, -3, -3, -34, 0, -4, -3, 13, 7, -2, 7, -6, 11, -1, -11, -8, -3, 4, 3, -8, -4, 4, -3, 1, 1, -11, -4, 6, -2, 12, 0, -7, 2, 3, -4, -1, -4, 0, -1, 3, -2, -3, 11, 2, 10, -4, -1, -5, 1, 3, 6, 2, 2, 3, 1, -8, -1, 5, -6, -3, 2, -11, 3, -5, 4, 6, -7, -4, -3, -4, -4, -4, 11, 7, 10, -3, -9, 8, -6, 2, -2, -3, -7, 5, -4, -2, 2, 1, -5, 5, -9, -3, -9, -9, -2, 1, -1, 1, -7, -30, 1, -1, 0, 5, 1, 7, 0, -15, 9, -7, 1, 9, 9, -6, -2, 3, -10, 3, -6, 3, -5, 21, 6, -4, -2, -6, 6, 19, 8, 7, -1, 10, -10, 5, 4, -1, 4, 1, -4, -4, 2, 1, 2, 12, -5, -4, -9, 0, 7, 2, 0, 6, 0, 13, 2, -11, 4, -4, 10, -3, 2, -4, -1, 3], "explanation": ["Inflation targeting is a monetary policy where central banks set and publicly announce an inflation target, usually around 2%, to maintain price stability and support long-term economic growth. Central banks adjust short-term interest rates to control inflation, raising them to cool the economy when inflation is above target and lowering them to stimulate the economy when inflation is below target."], "example": "New Zealand, Canada, and the United Kingdom adopted inflation targeting in the early 1990s, while Germany had implemented many elements of it earlier. As of 2024, 45 countries and the Euro Area use inflation targeting as their monetary policy framework.", "whyItMatters": "Inflation targeting helps central banks manage economic stability by adjusting interest rates based on inflation levels, ensuring long-term growth and price stability.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Bank_Negara_Malaysia_%28230715-0916%29.jpg/1280px-Bank_Negara_Malaysia_%28230715-0916%29.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Wee Hong"}, {"id": "820f5e5b38b5", "title": "Deflation", "slug": "deflation", "headline": "Deflation increases the real value of money", "summary": "What deflation causes \u2014 falling prices discourage spending as consumers wait for cheaper goods", "source": "What deflation causes \u2014 falling prices discourage spending as consumers wait for cheaper goods", "sourceUrl": "https://en.wikipedia.org/wiki/Deflation", "articleUrl": "https://en.wikipedia.org/wiki/Deflation", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, 3, 1, 5, 5, 0, 1, 10, 1, -4, 12, 2, 4, 5, 7, -4, -6, -6, -4, 2, 5, -3, -1, -7, 5, -1, 4, -4, -2, -21, 3, 1, 4, 4, 5, 1, -4, 2, 1, 4, -6, 5, -6, -10, 1, 1, 0, 3, -1, 0, -4, 2, 0, -1, 4, 5, 4, 4, 5, 5, 1, -3, -17, 3, 11, 0, 0, 4, -7, -1, -3, 2, 6, 4, 3, -9, 2, -3, 5, 4, 11, 10, -4, 1, -3, -10, 9, -6, -2, -11, 0, 2, 1, 1, -8, 1, 4, 7, 0, 46, 0, 3, -2, 2, -2, -8, -4, 1, 1, 5, 1, 1, 3, 0, -1, -4, 1, -2, 5, 2, 1, 10, 5, -5, -3, -5, -5, 17, -2, 2, -4, -10, -12, 6, 3, 2, -8, 5, 1, 5, -8, 4, -4, -9, -7, 3, 14, 4, -1, 2, -1, 3, -6, -8, -4, 1, 7, -4, 2, -3, -6, -1, -11, 5, 3, 3, 1, 1, 0, -2, -1, -1, -9, -9, 9, 0, -10, -3, -3, -6, 8, -2, -7, 3, 1, -4, -11, 2, 3, 1, -4, -8, -11, 2, -5, -7, 2, 6, -4, 5, 7, 3, -4, 3, 3, 5, 3, -4, 11, -3, 3, 5, 8, -1, -3, 1, 6, 2, 4, -5, 5, -3, -4, -38, 3, -6, 2, 6, -1, 2, -2, 2, 9, -6, -4, -3, -2, 14, -8, -4, -1, -7, 4, -13, 1, -1, -7, 3, 8, 15, -5, -11, 1, -1, 1, -5, -3, -2, 4, 8, -4, -8, -1, 1, 3, -3, 7, -5, 3, 0, 2, 1, 13, 2, 5, 3, -2, -1, -9, -6, 3, -1, 1, -5, 0, 5, 4, 4, -2, -4, -6, -6, 12, 2, 12, -1, -12, 3, 8, -4, 2, 0, -3, 10, -1, 3, 5, -5, -1, 1, -10, -3, -3, -6, 4, -6, -5, 5, 1, -32, 3, 6, -4, 1, 3, -2, 5, -3, 1, -6, 8, 4, 1, 2, 4, 5, -5, 4, -1, -5, 8, 23, -3, -7, -1, -5, 3, 9, -4, -2, 4, 8, -3, -1, -2, -8, 1, 3, 1, 0, 1, -1, -6, 12, 4, 0, -6, 4, 3, 0, -4, 1, 3, -2, -6, -12, 6, 8, 2, -1, 2, -6, -5, 3], "explanation": ["Deflation occurs when the general price level of goods and services decreases, leading to an increase in the real value of money. This means that consumers can buy more with the same amount of money, but it also means that more goods or services must be sold to finance fixed payments. Deflation can lead to a deflationary spiral, where falling prices discourage spending as consumers wait for cheaper goods."], "example": "If the price of a car drops from $20,000 to $18,000, the real value of money increases. A consumer with $20,000 can now buy a car for $18,000 and still have $2,000 left. However, if prices continue to fall, consumers may delay purchases, expecting prices to drop further, leading to decreased spending and potential economic downturns.", "whyItMatters": "Understanding deflation's impact on spending and the economy is crucial for policymakers to mitigate negative effects and promote stable economic growth.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/a/ae/NS_skimapparaat.jpg", "imageLicense": "Public domain", "imageArtist": "Paul Wiegmans"}, {"id": "360fec8a697d", "title": "hyperinflation looks like", "slug": "hyperinflation-looks-like", "headline": "How can money lose its value so fast?", "summary": "What hyperinflation looks like \u2014 prices doubling every few days, as in Zimbabwe or Weimar Germany", "source": "What hyperinflation looks like \u2014 prices doubling every few days, as in Zimbabwe or Weimar Germany", "sourceUrl": "https://en.wikipedia.org/wiki/Hyperinflation", "articleUrl": "https://en.wikipedia.org/wiki/Hyperinflation", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [-3, 2, -9, 10, 3, -1, -2, -2, -3, 1, 4, -2, 4, 7, 5, -3, -5, -15, -9, 6, 11, -6, 0, -9, 6, -5, 6, 1, -1, -26, 8, -12, -3, 4, 4, 6, -6, 5, 2, 1, -3, 5, -6, -6, 10, -5, 0, 2, -7, 1, 0, 3, 0, 2, 4, 5, 3, 2, 1, 0, 4, -2, -14, -1, 8, 1, 1, -3, 0, 4, -1, -1, 1, 0, 1, -4, 3, -1, -2, 9, 14, -4, 1, -4, 0, -7, 9, 4, 1, -2, -6, 0, 3, -2, -3, 1, 7, 13, -2, 45, 5, 0, 5, 2, 4, -1, -10, 8, 2, 1, -2, 2, 7, -4, -1, -7, -2, -4, -6, 5, 0, 4, 7, -2, 0, -4, -3, 9, -4, -2, 0, -8, -11, 2, 1, 2, -1, 4, 2, 6, -5, -2, -9, -12, -8, 6, 7, -1, 5, 0, -6, -1, 1, -10, 4, 5, 9, 3, 12, -8, -8, -1, -13, 9, 5, 0, -5, -7, 2, -2, -6, 7, -4, -4, 12, -2, -3, -4, -3, 6, -6, 7, -5, 4, 3, 0, -1, -8, -3, 2, -9, -5, -7, 2, 5, -5, -4, 10, 1, -4, 3, -2, -3, 4, 8, 6, 4, -4, 5, 0, 9, 6, 6, 2, -11, 2, -2, 2, -4, 0, 7, -9, -2, -40, -6, 0, -10, 11, -2, 7, -9, 9, 6, -1, -4, -5, 0, 7, 0, -3, 6, -4, 0, -9, 3, -3, -5, 0, -4, 13, -8, -1, -4, 4, 1, 3, 4, -1, 2, 10, -2, -9, -1, 1, -3, 2, 0, -1, 12, -2, 4, -5, 9, 1, -1, -3, -3, 3, -6, -1, 3, -5, 0, -1, -1, 6, 2, 5, 2, 3, -8, -4, 5, -2, 6, -11, -7, 7, 0, 6, 1, -6, 5, 7, 3, 2, 13, 2, -2, 5, -10, -3, -1, -5, -1, -7, 0, -4, -3, -29, -5, -1, 5, 1, 6, 0, 6, -6, -2, -3, 10, 7, 1, 3, -4, 2, 2, 1, 0, -6, -2, 20, 6, -5, 6, -5, 2, 8, 1, 0, -7, 11, -6, -2, -1, -9, 5, 4, -7, 2, 3, -3, -3, 8, 0, 1, -5, 0, 1, -1, -3, -2, 4, 4, -1, -6, 4, 12, -2, -4, 2, -2, -4, 0], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/0/07/The_Shard_from_the_Sky_Garden_2015.jpg/1280px-The_Shard_from_the_Sky_Garden_2015.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Colin", "explanation": ["Imagine buying bread for 1 one day, then 2 the next, and $4 the day after. Your wallet feels lighter each day.", "Hyperinflation means prices rise so quickly that money buys less and less. It's like your 1 bread suddenly costs 4 overnight."], "whyItMatters": "Hyperinflation erodes money's value rapidly, making it buy less over time.", "example": "Bread that costs 1 one day costs 4 the next day, even though you haven't gone shopping twice."}, {"id": "0ed6cd1cb5b9", "title": "Interest", "slug": "interest", "headline": "Compound interest formula: A = P(1 + r/n)^(nt)", "summary": "What compound interest does \u2014 A = P(1 + r/n)^(nt), interest earning interest", "source": "What compound interest does \u2014 A = P(1 + r/n)^(nt), interest earning interest", "sourceUrl": "https://en.wikipedia.org/wiki/Interest", "articleUrl": "https://en.wikipedia.org/wiki/Interest", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, 0, -3, -1, -6, -3, 6, 0, 3, 2, 9, -3, 8, -6, -3, -10, -12, -6, -4, 4, 10, -9, -1, -6, 17, 10, -4, -4, 4, -22, 3, 5, 1, 0, 3, 1, -6, 6, -4, -2, -4, 1, 1, -1, 3, 1, -6, 3, -2, 2, 2, -3, 0, 1, -2, -1, -3, 10, 0, -1, 12, 5, -17, 7, -1, 1, -1, 3, -7, 7, -3, 0, -6, -5, 1, 0, 3, -7, -1, 3, 0, -4, -7, 6, 5, -4, 4, -2, 6, 2, 2, 3, -5, -2, -3, 9, 3, 5, -8, 45, 3, 1, -7, 1, -5, -3, -2, 3, 2, -5, -3, 4, 2, -16, -10, -4, 4, 1, 9, -4, 3, 5, -1, 2, 1, 1, -1, 8, -4, 13, 6, -3, -6, 2, 7, 5, -1, 4, -4, 0, -6, -1, -2, -5, -3, 13, 3, 7, -5, -1, 0, 7, 2, -8, 2, 2, 2, -4, -1, -2, -8, -5, -5, 12, 7, -6, 4, 9, 2, -7, 0, -2, -4, -10, 10, 7, 1, -4, 8, -2, 4, -1, 2, 2, -2, 5, -15, -8, 0, -4, -2, 3, -10, 7, -11, -2, -6, 2, -5, -4, 9, -3, 6, -5, -3, 3, 3, 5, 3, 0, -2, 6, -1, -1, 6, -3, 8, 0, -2, 3, -3, -7, 10, -37, -5, 1, -8, 7, 1, 6, 2, -11, 5, -3, -3, -9, 1, 5, 4, -2, -7, 3, -1, 0, -3, -2, 5, 2, 2, 9, 0, 3, 1, 2, -5, -11, -1, -2, -9, 0, 5, -7, -7, -3, 0, -3, 8, -5, -1, 1, 2, 0, 14, -1, 2, 3, 0, 6, -7, -5, 5, -6, -3, 2, -5, 7, -1, 4, -2, 0, -5, 2, 0, -2, 10, 2, -3, 6, 2, 8, 9, -1, 0, -1, -12, 5, 6, 3, -7, 8, 2, 6, 2, -9, 1, 3, 1, -5, -1, -31, -2, 0, 3, -4, 2, 5, -1, -13, 3, -5, 4, 6, -1, 3, -5, 3, -9, 10, -3, 18, 3, 20, 0, 3, -5, -2, -1, 10, 2, 2, 4, 7, -7, 3, 1, -2, 10, 3, -7, -6, -4, -9, 5, 8, -1, -1, -4, 2, 1, 2, 4, 3, -2, -1, 0, -11, 2, 4, 0, -8, -3, 8, 3, 1], "explanation": ["Compound interest is calculated using the formula A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest, P is the principal amount, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the time the money is invested for in years."], "example": "If you invest $1,000 at an annual interest rate of 5% compounded monthly for 10 years, the amount accumulated is A = 1000(1 + 0.05/12)^(12*10) = $1,647.01.", "whyItMatters": "Understanding the compound interest formula helps investors and savers calculate the future value of their investments or savings, enabling them to make informed financial decisions.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/9/90/Malawi_interest_rates.JPG"}, {"id": "ff6b3dc288ca", "title": "Rule of 72", "slug": "rule-of-72", "headline": "Rule of 72 estimates doubling time by dividing 72 by interest rate", "summary": "What the rule of 72 estimates \u2014 divide 72 by interest rate to get years to double", "source": "What the rule of 72 estimates \u2014 divide 72 by interest rate to get years to double", "sourceUrl": "https://en.wikipedia.org/wiki/Rule_of_72", "articleUrl": "https://en.wikipedia.org/wiki/Rule_of_72", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-7, -1, 0, 4, 1, 0, 0, -5, 3, 4, 2, -3, -1, -3, -1, -3, -5, -3, -5, 4, 19, -6, 4, -1, 12, 6, -6, -10, 1, -20, 2, 0, -3, -9, -6, 1, -2, 3, -1, 4, 0, 5, 1, -7, 0, 3, -5, 6, 1, 4, -3, 4, 3, 3, 2, -1, 0, 6, 5, -1, 9, -3, -21, 0, -4, -4, 3, -3, -8, 6, 0, 4, 4, 4, -1, -4, 1, 2, 1, 8, 5, 3, 3, -2, 1, -3, 1, 6, 10, 2, 3, -1, -4, -3, -8, 9, 0, 8, -4, 44, 1, 5, -2, 5, 2, -3, -2, -5, 2, -7, -6, 4, 8, -2, 1, 5, -2, 5, 12, -4, 1, 1, 4, 2, -4, -3, 0, 10, 0, 8, 2, -10, -9, -1, 1, -5, 0, 11, 9, -10, -1, 0, -2, 5, -3, 15, 1, 2, -7, -6, -6, 3, 3, -12, 0, 5, 13, 1, 2, -7, -5, -1, -6, 8, 6, 3, 2, 6, 1, 2, 1, -1, 3, -2, 6, 6, 5, -2, 1, -5, -1, -3, -11, 6, 6, 5, -7, -7, 1, 1, -3, 2, -14, 6, -2, -6, -3, 9, -4, -6, 1, -5, -3, -3, -1, 5, 3, -3, 1, 3, 0, -5, 8, -4, 2, 6, 6, 4, -9, 0, 5, -4, 7, -40, -2, 1, -2, 12, -4, 0, -5, -4, 3, -3, -2, -3, -6, -2, 1, 0, 2, -3, 3, -1, 1, -3, -3, 5, -1, 10, -9, 0, -2, 4, 2, -2, 1, 2, -8, -4, 4, -6, -8, -2, 0, 0, 2, -5, 0, 4, 3, 0, -4, 1, -4, -4, -6, 1, -7, -9, 2, -4, -6, 0, -1, 4, -3, 7, -2, -1, -6, -7, 0, -4, 1, -7, -9, 8, 2, -2, 2, -1, -5, 9, -13, 2, 10, 4, -5, 2, 9, 1, -1, -2, -1, -6, 9, 2, -4, -38, -2, 4, -4, -6, 6, 7, -2, -6, -4, -6, 15, -2, 0, 3, -5, 5, -2, 9, 0, 11, 4, 22, 4, 1, 5, -2, 2, 12, -4, -5, 1, 9, -7, 3, 4, -7, 3, 4, -2, -1, -5, -6, 5, 18, -2, -4, -1, -3, 2, 1, -3, 2, 5, 2, 0, -4, 2, 6, -5, -5, -7, 4, 2, 0], "explanation": ["The rule of 72 is a quick mental calculation method for estimating the time it takes for an investment to double at a given interest rate. It simplifies complex exponential growth calculations into a simple division operation. This rule is particularly useful for investors and financial planners who need to make quick decisions without access to advanced calculators or software."], "example": "If you have an investment with an annual interest rate of 6%, the rule of 72 estimates that it will take approximately 12 years to double (72 \u00f7 6 = 12).", "whyItMatters": "Understanding the rule of 72 helps investors quickly estimate investment growth, aiding in financial planning and decision-making.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/f/f5/FFR_treasuries.webp/1280px-FFR_treasuries.webp.png", "imageLicense": "Public domain", "imageArtist": "FRED"}, {"id": "4edcc4837127", "title": "dollar-cost averaging achieves", "slug": "dollar-cost-averaging-achieves", "headline": "Why not buy more shares when they're cheap and fewer when they're pricey?", "summary": "What dollar-cost averaging achieves \u2014 investing fixed amounts regularly smooths out volatility", "source": "What dollar-cost averaging achieves \u2014 investing fixed amounts regularly smooths out volatility", "sourceUrl": "https://en.wikipedia.org/wiki/Dollar_cost_averaging", "articleUrl": "https://en.wikipedia.org/wiki/Dollar_cost_averaging", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -8, -4, 1, -2, 1, 1, -4, 6, 0, 7, 6, 9, -1, 4, 2, -5, -10, -7, 4, 0, -6, 5, -4, 4, -3, 1, -8, -5, -24, 5, -4, 4, -5, -1, 7, -12, -1, 4, 3, -9, 0, -3, -11, 2, -3, 0, -1, 1, 9, -3, -2, -5, 1, 2, 9, 1, 10, 1, 3, 6, 4, -11, 6, 3, -3, 4, 3, -4, 5, -3, 0, -3, 5, 3, -7, 4, 1, 0, 10, 6, 0, -2, 2, -1, -1, 15, -4, 5, -2, -1, 6, -3, 0, 7, 2, 9, 8, -8, 45, 6, 6, -4, -2, -4, -4, 0, 4, 3, -5, 3, 2, 3, -8, -4, -3, -1, -5, 7, 1, 2, 3, 4, -2, -5, -10, 2, 9, 0, 1, -3, -7, -12, 2, 7, 5, -1, -4, 3, 0, -11, 2, -5, -13, -9, 12, 9, -1, 3, -3, -6, -1, -4, -10, 1, 2, 3, -5, -1, -3, -13, -2, -14, 13, -2, -6, -5, 0, -4, -9, 1, 3, 1, -1, 7, 3, -8, -10, -9, 1, 5, -6, -2, 0, -3, -4, -10, 0, 5, 4, -2, -6, -6, 5, -3, -3, 1, 8, -4, 2, -4, -6, -3, 1, 4, 7, 4, 0, 12, 2, 1, 0, 4, 3, -4, 4, 0, 1, 3, -5, 5, -2, -3, -39, -10, -8, 1, 15, -10, 5, 2, -1, 2, -3, 0, 4, -8, 3, -2, -4, -4, -9, 5, -8, 10, -7, -4, 13, 10, 8, -5, 0, -2, 7, 0, 4, 4, -3, 5, 12, -6, -9, -3, -4, -2, -4, -6, -5, 8, 2, 2, -3, 1, 4, -1, 8, 1, 8, -3, -2, 0, 5, 6, -3, 1, 9, -2, 8, -4, 9, -9, -5, 6, -3, 9, -6, 2, -8, 5, -2, 8, -5, 7, 8, 2, 2, 4, -4, 0, 0, -3, 6, 2, -5, -1, -8, -1, 0, -4, -30, 0, 3, -1, 1, 8, -1, -4, -3, 7, 0, 11, 6, 3, 3, -2, 4, -7, 5, -4, 5, 1, 22, -2, -6, 3, 3, 2, -2, -5, 5, 5, 0, 0, 1, 0, -4, 11, 1, 2, 1, -2, 1, 3, 6, 0, 2, -7, 2, -2, 4, 0, 6, -5, -3, -4, -4, 3, 8, 7, -2, -6, 0, 2, 3], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/d/dc/NYC_Downtown_Manhattan_Skyline_seen_from_Paulus_Hook_2019-12-20_IMG_7347_FRD.jpg/1280px-NYC_Downtown_Manhattan_Skyline_seen_from_Paulus_Hook_2019-12-20_IMG_7347_FRD.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Fred Hsu on en.wikipedia", "explanation": ["Imagine you're at a grocery store with a fixed budget for snacks. If chocolate bars are cheaper one day and more expensive the next, you want to buy more when they're cheap and less when they're pricey.", "Dollar cost averaging (DCA) is like shopping for snacks with a set budget. You buy more when prices are low and less when they're high, smoothing out the cost over time."], "example": "If you buy 10 chocolate bars for 1 each on a sale day and 5 bars for 2 each when they're back to normal price, you're spreading the cost evenly.", "whyItMatters": "Dollar cost averaging (DCA) helps you buy more shares when prices are low and less when they're high, reducing the average cost of your investments."}, {"id": "32ccde9b57b1", "title": "4% rule", "slug": "4-rule", "headline": "Withdraw 4% annually to last 30 years", "summary": "What the 4% rule says \u2014 withdraw 4% of retirement savings annually to last 30 years", "source": "What the 4% rule says \u2014 withdraw 4% of retirement savings annually to last 30 years", "sourceUrl": "https://en.wikipedia.org/wiki/4%25_rule", "articleUrl": "https://en.wikipedia.org/wiki/4%25_rule", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -5, -5, 0, 2, -1, 8, -4, 4, 2, 1, 3, 0, 3, -3, 5, -6, -6, -6, 6, 16, -9, -2, 0, 9, 9, -5, -14, -7, -18, 2, -3, -14, -6, -5, 5, -3, 5, -2, 10, -3, 9, 3, -3, -2, 10, -4, 0, 7, 7, 3, 0, 6, 8, -4, 10, -3, 7, 2, -2, 1, 6, -23, 1, -6, 3, -2, 5, -3, 1, -4, -1, -8, 1, -2, -2, 7, -7, -5, 5, 6, 8, 0, -4, -3, 1, 3, -6, 9, 0, 1, 3, 5, -4, -4, 5, 7, -1, -10, 45, 3, 2, -5, -1, 2, -2, -4, -3, 0, -5, -5, 3, 8, 0, -1, 2, 1, 2, 0, 7, 0, 3, 5, 2, -4, -4, 2, 6, 3, -1, 6, -1, -10, 1, -2, 1, -1, 7, 2, -7, 7, -5, -1, -2, 4, 12, 8, 2, 0, 0, 6, 9, 1, -8, -3, 7, -4, -2, -3, 0, -6, -12, -7, -2, 1, -4, -8, 1, 1, -5, 7, 0, 3, -2, 13, -1, 1, -3, -3, 4, 3, -2, -7, 3, 0, 3, -1, -7, 8, 1, -4, 3, -9, 9, -8, -1, -6, 1, -2, 0, 4, -6, -1, 0, 2, 3, 1, -1, 15, 4, -3, -5, 9, -2, 8, 5, 0, 0, -1, -1, 10, 2, 0, -37, -2, -9, -6, 12, -4, 6, 3, -3, 1, -1, -9, 0, -3, 3, 5, 1, 1, -6, -2, 0, -9, -8, -5, 11, 4, 12, -10, -2, 1, -1, -6, 1, -5, 7, 3, -1, -6, -3, -6, 1, 4, -12, -2, -5, -3, -5, 2, -2, 1, 3, -1, 4, 5, 9, -12, -8, 1, 3, 6, -1, 3, 8, -1, 5, -7, -4, 0, -1, -2, 1, 2, 2, -13, 5, 8, -11, 8, -7, -3, 10, -12, 3, 1, -5, 4, 5, 2, 1, 2, -2, -2, -5, 4, -1, -9, -34, 3, 0, 8, 11, 2, 0, -1, -7, 9, -2, 4, 4, -4, 5, -2, 0, 2, 2, 1, 4, 1, 13, 4, -2, 0, -1, 4, 13, 2, 1, 1, 8, -3, 5, -1, -12, 6, 4, -1, -1, -5, -1, 2, 9, -7, 0, -4, -1, -3, -5, -1, -3, -1, -5, 6, 0, 5, 5, -8, -10, -3, 3, 5, 1], "explanation": ["The 4% rule, also known as the rule of 25, was created by simulating 30-year retirement periods using historical US market performance starting in 1926. William Bengen, who published the rule in 1994, chose 4% as the highest rate that never failed in the dataset. The rule has been widely discussed in retirement planning literature and popular media since its publication.", "The 4% rule assumes that a retiree's portfolio is in a tax-free account composed of US stocks and bonds. Bengen's analysis aimed to determine a safe withdrawal rate that would sustain a retiree's savings for 30 years. The rule has been further supported and popularized by the Trinity study in 1998."], "example": "A retiree with $1 million in retirement savings can withdraw $40,000 annually (4% of $1 million) for 30 years, adjusting for inflation.", "whyItMatters": "Understanding the 4% rule helps retirees plan their savings and withdrawals to ensure their retirement funds last for 30 years.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/7/7f/Qveen_Herby_by_Amandala_Photography_Los_Angeles_2023.jpg/1280px-Qveen_Herby_by_Amandala_Photography_Los_Angeles_2023.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Amandala Photography"}, {"id": "c9a0bab8901c", "title": "Debt-to-income ratio", "slug": "debt-to-income-ratio", "headline": "Debt-to-income ratio (DTI) measures the percentage of monthly income used for debt payments", "summary": "What the debt-to-income ratio measures \u2014 monthly debt payments divided by gross monthly income", "source": "What the debt-to-income ratio measures \u2014 monthly debt payments divided by gross monthly income", "sourceUrl": "https://en.wikipedia.org/wiki/Debt-to-income_ratio", "articleUrl": "https://en.wikipedia.org/wiki/Debt-to-income_ratio", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-9, -2, -2, -1, 9, -4, 10, -4, 2, -1, 7, -5, 3, 5, -4, -6, -4, 3, -1, 6, 11, -3, 2, 1, 12, 13, -3, -9, -9, -20, 6, -2, 6, -3, 1, 2, -3, 5, 1, -3, -3, 3, 2, 0, -3, -5, -8, 3, -3, 6, 0, -5, 4, 8, -3, 3, 8, 11, 7, 8, 4, 3, -21, 1, 6, 3, -3, 4, -9, -1, -3, 2, -7, -4, -1, -7, 2, -11, -2, 9, -3, 5, 2, -3, -7, 0, 2, -2, 9, 1, -2, -6, 0, -4, -6, 4, -1, -1, 1, 42, 7, -3, 3, 0, -2, -6, 3, -1, -1, 0, -6, 1, 1, 1, -1, -5, -8, 7, 13, 0, -2, 5, -6, -1, 3, 1, 10, 5, 0, 2, -2, -3, -15, 0, 5, -2, 10, 2, 4, 1, 4, 3, -3, -2, -3, 13, -4, 5, 9, 0, -2, 12, 1, -11, 6, 2, 2, -6, 0, -1, -1, -8, -11, 16, 5, -3, -4, 13, -4, -5, 4, -6, 0, -5, 8, 0, 4, -1, -3, 0, 2, 1, -4, -2, 8, 5, -9, -7, 2, -10, 4, -2, -11, 8, 5, 3, 3, 6, -11, 7, 0, -2, -1, 2, -10, 5, -3, -9, 5, 6, 3, 8, 10, 3, -2, 3, 2, -2, -1, 6, 0, -5, 5, -33, 0, 2, -3, -6, -2, -8, 0, 0, 7, 7, 2, 0, -5, 4, 4, -5, 6, -4, -4, 5, 0, -7, 2, 5, -2, 10, -11, -2, 0, -2, 5, -4, -7, 5, -12, -4, -8, -13, -8, -3, 3, -4, 0, 2, -7, 2, 1, 1, 5, -1, -8, -3, 9, 11, -8, -7, -2, -9, -12, 4, -6, 8, -5, 0, 2, -1, 0, -5, 3, 4, 7, -6, 2, 0, -2, 7, 5, 5, -6, 5, 8, -2, -3, -1, 1, 4, 3, -3, 0, -1, 5, -5, -1, -2, 5, -30, 7, -6, -2, 0, 0, 5, 1, -13, 2, 0, 7, 7, -4, 0, -3, 5, -9, -3, -8, -1, 3, 21, 4, -5, -3, 0, -2, 3, 9, 0, 3, 10, -3, 2, 6, 1, 4, -3, -3, 0, 2, -6, 6, 9, 8, -2, -9, -1, 8, -3, 0, 1, 0, 4, 2, -11, 9, 4, -6, -6, -3, -5, 3, 1], "explanation": ["The debt-to-income ratio (DTI) is a key financial metric used to assess an individual's ability to manage monthly debt payments relative to their gross income. It serves as an indicator of financial health and stability, helping lenders determine creditworthiness."], "example": "If a person earns $5,000 monthly and has $2,000 in debt payments, their DTI would be 40% ($2,000/$5,000).", "whyItMatters": "Understanding DTI is crucial for both borrowers and lenders to ensure responsible borrowing and lending practices.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Money_box_shaped_like_ERNIE_the_Computer_%28Science_Museum%2C_London%29.jpg/1280px-Money_box_shaped_like_ERNIE_the_Computer_%28Science_Museum%2C_London%29.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "Geni"}, {"id": "adc58c015501", "title": "the 50/30/20 budget rule suggests", "slug": "the-50-30-20-budget-rule-suggests", "headline": "Ever wondered how to balance your finances effectively?", "summary": "What the 50/30/20 budget rule suggests \u2014 50% needs, 30% wants, 20% savings", "source": "What the 50/30/20 budget rule suggests \u2014 50% needs, 30% wants, 20% savings", "sourceUrl": "https://en.wikipedia.org/wiki/2026_Australian_federal_budget", "articleUrl": "https://en.wikipedia.org/wiki/2026_Australian_federal_budget", "publishedAt": "2026-07-03", "category": "learn", "cohortScore": 0.5, "embedding": [-5, -7, -4, -7, 3, 1, 0, 0, -7, 3, 1, -1, -7, 6, 5, 5, 0, -1, -5, 13, 5, 2, -7, 2, 12, 0, 0, -8, -14, -13, 5, -3, -3, -7, -1, 4, -4, 7, 0, 3, 2, 5, 6, -6, 1, 7, -1, 2, 3, 8, -3, -8, -7, -5, -4, 9, 2, 9, 3, 2, 3, -2, -16, 0, 0, 4, 3, 0, -3, 10, -4, 0, -5, 0, 1, 0, 4, -4, 7, 2, 4, 7, 2, 1, -7, -2, 2, 1, 4, -7, -1, 0, 2, -6, -7, 4, 4, 7, -14, 45, 3, 0, 10, 2, 1, -3, 10, 1, 2, -8, -2, -2, 3, -8, 8, -3, 1, 0, 4, -2, 7, -1, 7, -5, -5, -6, 0, 8, -1, 7, 2, -4, -4, 2, -7, -4, -4, 6, 9, -2, 4, -2, -1, -12, -12, 21, 3, 2, 1, -5, 7, 0, 6, -12, -2, 4, 6, -3, -3, 3, -2, -7, -8, -4, 1, -7, -6, 4, -5, 3, -5, -3, -6, 3, 18, -1, -2, 3, -9, 8, 2, 0, -3, 6, -1, -1, -1, -6, 5, -4, -9, -4, -5, 8, -3, -5, 0, -1, -3, -2, -6, -3, 1, 7, 1, 9, 0, -6, 19, 0, 5, 4, 11, 5, -1, 3, 2, 3, -1, -3, 7, -4, 2, -38, 2, -8, -4, 8, -4, 1, -2, -13, 10, 4, -10, 5, -3, 3, 1, -2, -1, -3, -1, 1, 0, 0, -4, 10, 3, 10, -11, 1, 3, 7, -1, -2, -7, 2, -3, -8, -16, -7, 0, 4, -4, -9, -1, -11, -3, -6, 2, -3, -4, 2, -3, -7, 0, 6, -8, -8, -3, -4, 1, 1, 5, 4, -2, 3, -8, -3, -1, -3, 1, 1, -6, 5, -7, 4, 4, 5, 10, 1, -4, 11, -4, -6, 4, -2, 5, 1, -3, 4, 0, -5, -2, -2, 9, 6, -7, -26, 4, -6, 4, 7, 5, 2, 1, -6, 7, 4, 10, 4, -3, 3, -4, 4, -2, 6, -2, 3, -1, 16, -2, 1, -3, 3, 0, 16, 6, 3, 5, 12, -4, 8, -4, -10, 4, 6, -2, -3, -6, 1, 8, 5, -3, -6, 0, -2, -2, -3, 2, 1, -7, 5, 6, 1, 7, 2, 2, -5, -2, 6, -3, -4], "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/6/60/Jidousha_baisho_sekinin_hoken_shomeisho.JPG/1280px-Jidousha_baisho_sekinin_hoken_shomeisho.JPG", "imageLicense": "CC BY-SA 3.0", "imageArtist": "\u30bf\u30f3\u30b8\u30a7\u30f3\u30c8", "explanation": ["Imagine you're planning your monthly budget. You need to cover essential expenses like rent and groceries, but you also want to enjoy leisure activities and save for the future. How do you allocate your money to cover all these needs without feeling stressed or deprived?", "The 50/30/20 budget rule helps you divide your income into three categories: needs, wants, and savings. By allocating 50% to necessities, 30% to desires, and 20% to savings, you can manage your finances more effectively and achieve your financial goals."], "example": "If you earn 3,000 a month, you would spend 1,500 (50%) on essentials, 900 (30%) on wants, and 600 (20%) on savings.", "whyItMatters": "Remember, the 50/30/20 budget rule simplifies your financial planning by dividing your income into essential needs, personal wants, and savings."}, {"id": "3cb7fe3b1d0d", "title": "Net worth", "slug": "net-worth", "headline": "Net worth = Total assets - Total liabilities", "summary": "What net worth equals \u2014 total assets minus total liabilities", "source": "What net worth equals \u2014 total assets minus total liabilities", "sourceUrl": "https://en.wikipedia.org/wiki/Net_worth", "articleUrl": "https://en.wikipedia.org/wiki/Net_worth", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-3, -5, 0, -3, 9, -4, 9, -9, 7, -2, 5, -6, 9, -8, -3, 1, 0, 2, -8, 10, 6, -10, 3, -2, 17, -1, -7, -4, 2, -20, 5, -3, -4, -3, 0, -2, -1, -1, 4, 2, 4, -2, 4, -2, 4, -1, -1, 1, 0, 5, 3, -10, 2, 5, -5, 6, 5, 5, -3, -2, -1, -2, -17, -2, 8, 1, 0, -2, -5, 5, 13, 3, -5, 0, 1, -4, 1, -1, -1, -3, 4, -2, 1, 1, -2, -1, 0, -2, 3, -2, -1, 1, 5, -1, 3, 4, 1, -1, 0, 48, -1, -1, -3, -5, -2, 2, 0, -6, 3, 3, 4, 4, -5, -6, -5, -1, 1, -2, 3, -7, 0, -2, 5, 3, -7, -3, 3, 3, 3, 7, 3, -2, -8, -6, 1, 3, 3, 8, 3, 6, 3, -4, -4, 4, -7, 13, -2, 1, 8, -2, -2, 10, -3, -4, -3, 6, 1, -5, -1, -12, -6, -7, -9, 12, 0, -6, 0, 1, -3, -3, -2, -7, -7, -2, 13, 4, -5, -3, -2, -1, 4, -3, -6, 9, -1, 1, -12, 0, 9, 1, -3, 5, -8, 7, -4, 4, -1, 0, 3, 6, 5, 3, 5, -3, -7, 4, -1, -6, 8, 9, -5, 3, 3, 5, 0, 8, 8, 2, 2, 1, -4, -10, 0, -34, 0, -4, -7, -3, -3, 1, 2, -4, 5, -5, -12, -4, -4, -1, 3, -4, -1, -6, -5, -9, 1, -2, 1, 13, 3, 16, -4, 1, 5, -5, 5, -8, 0, 4, -7, -5, -2, -12, -4, -3, 0, -2, -5, 2, 1, -5, -8, 3, 11, 6, 4, 4, 14, 10, -5, -7, -2, 1, 0, 8, -8, 2, -2, 3, -6, -1, -8, -3, -5, 1, 4, 0, -14, -8, 5, 0, 5, 0, 3, 6, -4, 9, 3, -1, 3, 3, 4, 1, 3, -8, -1, -1, -4, -3, 3, -31, 6, -2, 2, -8, -6, -2, 7, -2, 6, 2, 3, 5, -4, 1, -4, 3, -4, 14, 10, 10, 7, 21, 2, 5, 1, -13, 1, 8, 7, 2, 1, 11, -2, -5, 7, -10, 8, 3, -1, -3, -3, -4, 0, 13, 1, -2, 1, 0, -7, -3, 5, 7, 3, 6, -3, -11, -4, 9, -1, -4, 8, -4, 2, -7], "explanation": ["Net worth represents the financial health of an individual or entity. It is calculated by subtracting total liabilities from total assets, providing a clear picture of net financial position. This measure helps assess financial stability and potential for future investments."], "example": "If an individual owns a house worth $300,000 and has a car worth $20,000, but owes $50,000 on a mortgage and $10,000 on a car loan, their net worth would be $260,000 ($300,000 + $20,000 - $50,000 - $10,000).", "whyItMatters": "Understanding net worth is crucial for making informed financial decisions and planning for the future.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/thumb/d/de/Bank_junction_-_2020-09-20_%282%29.jpg/1280px-Bank_junction_-_2020-09-20_%282%29.jpg", "imageLicense": "CC BY-SA 4.0", "imageArtist": "The wub"}, {"id": "b31c24537f6d", "title": "Opportunity cost", "slug": "opportunity-cost", "headline": "Opportunity cost is the value of the best alternative forgone", "summary": "What opportunity cost means \u2014 the value of the next best alternative you give up", "source": "What opportunity cost means \u2014 the value of the next best alternative you give up", "sourceUrl": "https://en.wikipedia.org/wiki/Opportunity_cost", "articleUrl": "https://en.wikipedia.org/wiki/Opportunity_cost", "publishedAt": "2026-06-12", "category": "learn", "cohortScore": 0.5, "embedding": [-4, -5, 0, 1, 9, -1, 8, 5, 1, 2, 12, 2, -2, 0, -1, 6, -3, -8, -1, -1, 6, -7, 2, -9, 7, 5, 0, -1, -2, -12, -2, -2, -6, -6, -6, 9, -6, -4, 5, 12, 0, 6, -9, -2, -8, 2, 4, -8, -5, 3, 2, -4, -8, -1, 1, 10, 2, 5, 1, 7, 5, 3, -14, -1, 10, 0, -5, 2, -7, 8, 1, -4, 4, 5, 8, -1, -5, -7, 2, -5, 4, 7, -3, 7, -3, -2, 2, 1, 12, -8, 3, 1, -2, 2, 0, 4, 3, 4, -9, 47, -1, -1, -4, -7, 8, -12, -3, -8, 6, 1, 2, 0, 0, -2, 1, 3, -3, 0, 12, 1, -9, 1, 4, 0, -12, -6, 8, 11, 1, -4, 12, -12, -4, 2, 5, -4, 7, 6, -5, 0, 0, -4, -7, -4, -8, 13, 9, 1, 1, 5, -3, -1, -5, -5, 2, -1, 5, -4, 2, -2, -1, -3, -13, 11, -1, -10, -3, 2, -1, 3, -2, -6, -1, -3, 16, -1, -6, -3, -4, 5, 8, 4, -6, -3, -5, -1, -4, -5, 8, 4, -7, 2, -4, -2, -2, 0, -9, 1, 3, 0, -4, 8, 0, 0, -2, 8, 8, -2, 10, -4, -9, 1, 4, 10, -3, -12, 1, 4, -3, 0, 2, -3, 6, -39, -2, -5, 0, 0, 1, 2, -6, -6, 10, 11, -11, 7, 1, 10, -3, -4, 0, 4, -1, -2, 5, 6, -9, -2, 2, 10, -5, 1, 0, -3, 2, 5, 1, 7, -3, -2, -7, 1, -1, -2, -5, 0, -6, -6, 3, 0, 2, 2, 11, -3, 4, 1, -1, 12, 7, -2, 6, 0, 0, 4, 0, 4, 3, 5, -12, 5, -6, -6, 2, -1, 5, 4, -11, 4, 0, 3, -1, -2, 7, -2, -8, -4, 1, 0, 11, -3, -7, 1, 3, -6, -2, -8, -4, 0, -5, -32, 9, 3, -2, 1, 4, -5, -2, -10, 5, -3, 3, -4, -1, 7, -2, 9, -6, -4, -2, 4, 0, 18, -1, 0, -2, -10, 3, 6, 1, -5, 1, 13, -2, 6, -5, -5, -3, 0, -2, 2, 3, -5, 2, 14, 0, 1, -3, -3, 2, -2, 3, -2, -4, -2, -2, -4, 4, 5, -4, 6, 3, 3, 0, -1], "explanation": ["Opportunity cost is a fundamental concept in microeconomics that helps individuals and businesses make informed decisions by considering what they must give up when choosing one option over another. It emphasizes the importance of evaluating both the benefits and costs associated with different choices, ensuring that scarce resources are allocated efficiently. By recognizing opportunity costs, decision-makers can better understand the trade-offs involved and make choices that maximize utility or profit."], "example": "If you have $100 and choose to buy a laptop instead of investing it in a savings account, the opportunity cost is the potential interest earnings you would have received from the savings account.", "whyItMatters": "Understanding opportunity cost helps individuals and businesses make better decisions by considering the potential benefits of alternative choices.", "imageUrl": "https://upload.wikimedia.org/wikipedia/commons/b/be/Sherlock_Street%2C_Burnaby%2C_10_avril_2009.jpg"}]}