BasisPilot guides
Clear explanations for the numbers behind a decision.
Short, source-backed guides explain formulas, assumptions and limitations without turning a calculator into a recommendation.
How to Read an Earnings Report
Learn how to read an earnings report step by step, including revenue, margins, EPS quality, cash flow, CapEx, guidance, segment trends, balance-sheet changes, and valuation.
Revenue Growth vs Earnings Growth: Which Matters More?
Learn the difference between revenue growth and earnings growth, why they can diverge, and how margins, buybacks, taxes, operating leverage, and free cash flow affect what investors should focus on.
CapEx vs Free Cash Flow: Why Heavy Spending Can Hurt a Stock
Learn how capital expenditures affect free cash flow, why rising CapEx can pressure a stock even when revenue and EPS grow, and how to judge whether heavy investment is creating value.
What Is Free Cash Flow Yield? Formula, Examples & Valuation Guide
Learn how to calculate free cash flow yield, compare it with P/E and earnings yield, and understand when a high or low FCF yield is meaningful—or misleading.
Forward P/E vs Trailing P/E: Which Valuation Metric Should You Use?
Learn the difference between forward and trailing P/E, how each is calculated, when each is useful, and why earnings growth, estimate revisions, cyclicality, and one-time items can make P/E misleading.
How to Calculate an Earnings Implied Move From Options
Learn how to estimate a stock's earnings implied move using an ATM straddle or implied volatility, choose the right expiration, compare implied vs actual moves, and avoid common options-pricing mistakes.
What Is IV Crush After Earnings?
Learn what IV crush is, why implied volatility often falls after earnings, how it affects calls and puts, and why getting the stock direction right may still lead to an options loss.
13F Filing Deadlines: When Do Institutional Holdings Become Public?
Learn when Form 13F filings are due, how the 45-day rule works, why managers file on different dates, how stale the holdings can be, and the official 2026–2028 13F filing deadlines.
13F Position Changes Explained: New, Increased, Reduced & Sold Out
Learn what New, Increased, Reduced, Unchanged, and Sold Out mean in 13F tracking, how quarter-over-quarter changes are calculated, and what these labels do—and do not—tell you about institutional activity.
ETF Overlap vs Correlation: What’s the Difference?
Learn the difference between ETF holdings overlap and return correlation, why low overlap can still mean high correlation, and how to use both when evaluating diversification.
How to Measure Portfolio Concentration
Learn how to measure portfolio concentration using position weights, Top 5 exposure, sector concentration, ETF overlap, and correlated holdings—and why more tickers do not always mean more diversification.
How to Calculate Stock Drawdown and Recovery
Learn how to calculate stock drawdown, maximum drawdown, and the percentage gain required to recover from a loss, with formulas, examples, and practical portfolio applications.
Risk-Reward Ratio and Break-Even Win Rate
How planned risk, reward, fees, slippage and win rate fit together.
Position Size vs Stop-Loss
Why the stop usually comes first, and how account risk determines shares.
Trade Expectancy Formula
Calculate expected value per trade in dollars or R-multiples.
How Much Should I Invest Monthly to Reach a Goal?
Solve for recurring contributions while making return assumptions visible.
How to Rebalance a Portfolio With New Contributions
Move toward target allocations with new cash instead of selling.
How to Calculate Average Stock Cost With Fees
Use weighted acquisition cost, fees and share quantity to track average cost.
The 1% Risk Rule in Trading
Calculate maximum risk per trade and translate it into a position size.
How Many Shares Should I Buy?
Calculate share quantity from account risk, entry price and stop distance.
What Is ETF Overlap and How Much Is Too Much?
Measure shared holdings, weighted overlap and hidden concentration.
How to Calculate Average Cost After Buying More Shares
Use a weighted average to calculate cost after adding shares.
How to Calculate Stop-Loss Percentage
Convert entry and stop prices into stop distance and account risk.
How to Read a 13F Filing
Read reported positions, weights and quarter-over-quarter changes correctly.
What Is a 13F Filing?
Understand what Form 13F reveals—and what it leaves out.