Independent Markets Research · Est. 2022
Financial
Gurkha
Equity valuations, macro analysis, and market coverage — researched, written, and filed from Wall Street, New York.
Reported from Wall Street. Published to the world.
New York City
Featured Analysis
07/29/2026 · Kanchan
Federal Reserve Keeps Interest Rates Steady
The Federal Open Market Committee left the target range for the federal funds rate at 3.5 percent to 3.75 percent. The headline says "Fed holds." The headline is the least interesting sentence in the document.
Read the analysis →
The Ledger
All articles →
11/25/2025
All About Monad (MON): Generate Value From Monad Blockchain
MON is the native-token of Monad Blockchain, an EVM comatible L1,the all-new superfast 10,000 TPS blockchain making waves. Learn all about Monad Blockchain, MON tokens, and how to gain value and make money from the Monad blockchain and its native MON tokens.
11/20/2025
An Intrinsic Valuation of FIGMA (NYSE:FIG)
Figma just crossed the $1bn annual revenue mark and maintains a 40% growth rate. Let's dive deep into Figma's filings and estimate an intrinstic value of the leading collaborative design platform for building meaningful products
11/11/2025
America's Net Investment Position with the World
How much of American assets does the world own? How much global stocks does America own? We expand the scope of Bureau of Economic Analysis to understand America's net investment position with the world.
11/11/2025
Dollar Gold Crude Relations
Making sense of the relationship between the US Dollar, Gold, and Crude Petroleum.
10/27/2025
Gold: A Primer on Commodities and Trading
Commodity traders believe we are in the midst of a commodities market supercycle - a period of more 6 years where commodities priced in USD are going to see significant rise in their prices. Gold and Silver are amongst the most traded precious metal commodities. In this article, we explore Gold, the most widely coveted precious metal.
01/01/2025
Novo Nordisk DCF Valuation: Should you invest in the Ozempic and Wegovy Maker for exeptional returns?
Novo Nordisk briefly became Europe’s most valuable company by market cap before experiencing a sharp 60% pullback within six months. Despite the volatility, this century-old pharmaceutical leader continues to innovate across its core specialties in diabetes and blood-related disorders. The company is aggressively scaling its production capacity for high-demand treatments while investing heavily in research aimed at curing emerging diseases. Novo Nordisk’s international revenue segments and its growing online prescription platform are also delivering strong year-over-year growth. In this analysis, we break down Novo Nordisk’s fundamentals and present a full intrinsic valuation using DCF.
From the Street
We walk the blocks we write about.
Financial Gurkha operates from New York City. Most articles are researched and written from Wall Street and the surrounding Financial District — on the ground, at least twice a week.
On the doorstep of 14 Wall Street
Wall St, Financial District
Morning coffee before the open
Financial District
Street art on the subway map
Lower Manhattan
“Markets reward the prepared. We do the preparation in public.”
Financial Gurkha · New York City · Est. 2022