Learn
Build your own point of view.
A 40-chapter course: 12+ hours of focused lessons, animated explainers and worked examples, one idea at a time.
A little knowledge. Every day.
Your day-1 investment
research companion
We do the hard stock market research work. Then give it to you.
How it works
Start curious. No finance background needed.
We walk you through the ups and downs, the greens and reds, the “go” or “nah.”You make the call.
There’s more.
The knowledge, tools, and technology to become your own investment researcher.
Tools & analytics
Put your thinking to the test.
Models, calculators, and trackers. Test your assumptions and follow the numbers for yourself.
Your questions. Better tools.
AI & data
Go further. A little faster.
Take source-linked data into your AI tools. Less busywork. More time to connect the dots.
A head start. Not a shortcut.
Independent research, for your financial future.
Yield Theory / Research desk / Monthly report
The monthly file
The research. The reasoning.
A record worth returning to.
Research notes
A business is more than its ticker. Each month, we work through filings, earnings calls, and the numbers to understand what makes it tick. Where does the money come from? What has to go right? What could change the story?
This is where that work comes together. The investment cases, the assumptions behind our models, and the questions still open. A record of the reasoning you can revisit as new facts arrive. Read it, question it, make it your own.
Keep the evidence. Question the conclusion.
In perspective
Good research should leave a trail. The original question, the evidence that changed our view, and the assumptions that still need to hold.
Your monthly report brings that trail into one place. Company research sits alongside valuations, business comparisons, and the risks that deserve a closer look.
We lay out what could work and why it might not. You can trace the numbers back to their sources, test a different assumption, and decide where you stand.
As the facts change, the work continues. New research throughout the month. Earlier issues in the archive. A perspective you can keep building on.
Explore the researchFor your own perspective.
A look inside your membership.Find your plan
The Yield Theory collection
Reports so far.
Oracle Capex 2026 and 2027: Guidance, Spend and Debt
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US Data Center Construction Spending: Monthly Tracker 2026
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CoreWeave Capex 2026: Guidance, Spend, Debt and Customers
Free to read
AI Spending vs the Dot-Com Bubble: What the Filings Show
Free to read
Senator Stock Trades: Who Trades, Who Files Late, and What They Buy
Free to read
Nancy Pelosi's Stock Portfolio in 2026: Every Trade, the Holdings and the Returns
Free to read
Motley Fool Stock Advisor vs Epic vs Epic Plus: What Each Plan Costs and Gets You
Free to read
Hyperscaler Capex 2027 Forecast: Guidance, Estimates and the Run Rate
Free to read
How to Read a 10-K: A Walkthrough of Microsoft's 2026 Annual Report
Free to read
Does Copying Congress's Stock Trades Work? We Tested 4,967 Buys
Free to read
Is Michael Burry Right About AI Depreciation?
Free to read
September
Dropping soon.
Bring your curiosity
A few tools. A lot of perspective.
People, before portfolios
Everyone starts somewhere.
Different lives. Different paths. Something to learn from each.
Omaha, USA
Warren Buffett
Read everything.
It started at the library.
As a boy, Warren spent hours in the Omaha library reading business books. At 11 he bought three shares of Cities Service preferred, then sold too soon. He kept the lesson, and kept reading.
CNBC Buffett Archive · Photo: Mark Hirschey, CC BY-SA 2.0
Brattleboro, USA
Ronald Read
Nobody knew.
A quiet portfolio.
A gas station attendant who later worked as a janitor, Ronald followed The Wall Street Journal and Barron's, picked big, steady companies himself and held them for decades. Only after he died did his town learn he had nearly $8 million, most of it left to its hospital and library.
CNBC · Photo: 1940 yearbook, public domain
Lake Forest, USA
Grace Groner
Give it time.
Three shares. A lifetime.
An Abbott secretary bought three shares for $180 and kept reinvesting. Decades later, her $7.2 million holding became a legacy that helps students find their own beginnings.
Story & childhood photo: Groner FoundationIndependent stories, not endorsements.
004 MEMBERSHIP
Make room for better research.
For your first investment question, and every one that follows.
One membership. Two ways to join.
Monthly membership
Start here. Stay curious. Take your time.
$39/month
$39 billed monthly. Flexible access.
Everything you need to go deeper:
- Every member issue and the full archive
- New research throughout the month
- Models, valuations, catalysts, and risks
- Company comparisons and stock ideas
- The fundamental research course
- Interactive explainers and worked exercises
Cancel future renewals anytime.
✦ Best value · Save 47%
Annual membership
A full year of independent perspective.
$249/year
$249 billed annually. Save 47%.
The same full membership, for less:
- Every member issue and the full archive
- New research throughout the month
- Models, valuations, catalysts, and risks
- Company comparisons and stock ideas
- The fundamental research course
- Interactive explainers and worked exercises
Cancel future renewals anytime.
Frequently asked questions
A little clarity before you get started.
Can’t find your answer? Get in touch with us.
Who is Yield Theory for?
People investing their own money who want to understand the businesses behind their investments. We bring together research, lessons, and tools to help you develop a point of view of your own.
Do I need a finance background?
No. Start with the basics, work through the examples, and build your understanding one idea at a time. Bring your curiosity; you don’t need to arrive knowing the terminology.
Can I explore before joining?
Yes. Browse the free research, stock pages, calculators, and learning guides. Member-only reports and the full fundamental research course require a membership.
Do you tell me what to buy?
We tell you what we think. Every report names the companies we'd watch, how we'd value them, and what could go wrong. Then you make the call, with the evidence in front of you.
What does a membership include?
Every member issue, the full member archive, new research throughout the month, models, valuations, and company comparisons. You also get the 40-chapter fundamental research course: 12+ hours of lessons with animated explainers, worked examples and hands-on assignments.
What’s the difference between monthly and annual?
Both plans include the same membership. Pay $39 per month or $249 per year. Annual billing saves $219 compared with twelve monthly payments.
Can I cancel my membership?
Yes. Cancel future renewals from your account whenever you like. Your access continues until the end of the period you’ve paid for.
What’s inside the monthly research file?
Investment ideas, business analysis, valuations, and risks, brought together in one place. Follow the reasoning, examine the assumptions, and return to the original sources. New research also arrives throughout the month.
What will I learn?
The foundations of investment research: understanding a business, reading financial statements, thinking about valuation, and weighing risks. Focused lessons, worked examples, and interactive explainers help you put the ideas into practice.
Are the investor stories real?
Yes. Each story links to its original reporting or first-person account. These are independent profiles, not customer testimonials, and their results aren’t a promise of what you’ll earn.
Which tools can I use?
Explore stock research pages, calculators, scenario models, and congressional trade trackers. Change assumptions, compare outcomes, and follow disclosures back to their sources.
How does AI fit into the research?
Take our source-linked datasets into your own AI tools, spreadsheets, or code. They give you structured starting material for exploring questions and comparing information. Check the original sources when reviewing an AI-generated answer.
Can I check where the data comes from?
Yes. Our datasets link to original sources and include update dates, field definitions, and limitations. That gives you a way to check the evidence and understand what each number represents.