Financial Gurkha
@financialgurkha

Financial Markets Reporting From Wall Street, New York. Equity Valuations, Earnings Analysis, Macro Research and Technical Analysis.

With Immense Power Comes the Ledger: What the New Democratic Congress Promised, What Flipped-State Voters Need, and the Gap Between Them

With Immense Power Comes the Ledger: What the New Democratic Congress Promised, What Flipped-State Voters Need, and the Gap Between Them

Iowa Farm Country Decided Control: Turek Beats Hinson, and the Senate Flipped With the Soy Market

Iowa Farm Country Decided Control: Turek Beats Hinson, and the Senate Flipped With the Soy Market

Kansas: The Farmer Flip — Hamilton Ends a 94-Year Drought on a $737,375 Farm Ledger

Kansas: The Farmer Flip — Hamilton Ends a 94-Year Drought on a $737,375 Farm Ledger

Maine: Heating Oil Above $6, a Canada Tariff Waiver on October 23, and the Seat Susan Collins Still Lost

Maine: Heating Oil Above $6, a Canada Tariff Waiver on October 23, and the Seat Susan Collins Still Lost

North Carolina: Roy Cooper Wins the Senate Seat Democrats Last Won in 2008, on One Promise — Make Stuff Cost Less

North Carolina: Roy Cooper Wins the Senate Seat Democrats Last Won in 2008, on One Promise — Make Stuff Cost Less

Ohio Senate Flip: Sherrod Brown Returns on the Electricity Bill — and What the Data Centers Did and Did Not Cause

Ohio Senate Flip: Sherrod Brown Returns on the Electricity Bill — and What the Data Centers Did and Did Not Cause

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South Carolina Senate Flip: A Pediatrician Beat an Appointed Senator in a State Trump Carried by 18 Points

South Carolina Senate Flip: A Pediatrician Beat an Appointed Senator in a State Trump Carried by 18 Points

Texas Flips: Talarico Beats Paxton by 1.2 Million Votes — the First Democratic Senate Win Since 1988, and the Cattle Ledger Behind It

Texas Flips: Talarico Beats Paxton by 1.2 Million Votes — the First Democratic Senate Win Since 1988, and the Cattle Ledger Behind It

The Flip Map: Seven Senate Seats, One Cost Ledger, and What the New Majority Owes the Voters Who Sent It

The Flip Map: Seven Senate Seats, One Cost Ledger, and What the New Majority Owes the Voters Who Sent It

Earnings Today: Airbnb and Cloudflare Report After the Close on a 642-Company Day

Earnings Today: Airbnb and Cloudflare Report After the Close on a 642-Company Day

Nasdaq Falls 5.3% Into Correction Territory as Chip Stocks Lead a Broad Selloff

Nasdaq Falls 5.3% Into Correction Territory as Chip Stocks Lead a Broad Selloff

Democrats Win Both Chambers: The 2026 Midterm Results, the Market Reaction, and the Two-Year Policy Map

Democrats Win Both Chambers: The 2026 Midterm Results, the Market Reaction, and the Two-Year Policy Map

Qualcomm Posts $10.44B Revenue as Auto Chips Jump 89%; Arm Sales Rise 27%

Qualcomm Posts $10.44B Revenue as Auto Chips Jump 89%; Arm Sales Rise 27%

Earnings Today: AMD, Super Micro and Arista Report After the Close on Election Day

Earnings Today: AMD, Super Micro and Arista Report After the Close on Election Day

Job Openings Jump to 7.5 Million in September as Quits Surge to 3.4 Million

Job Openings Jump to 7.5 Million in September as Quits Surge to 3.4 Million

Apple Posts Record $114.5B Quarter as Tariff Refunds Add $0.05 to EPS

Apple Posts Record $114.5B Quarter as Tariff Refunds Add $0.05 to EPS

Marvell to Buy Lumentum in $115B All-Stock Deal to Lead AI Connectivity

Marvell to Buy Lumentum in $115B All-Stock Deal to Lead AI Connectivity

2026 Midterm Elections Explained: 435 House Seats, 35 Senate Seats and Control of Congress at Stake

2026 Midterm Elections Explained: 435 House Seats, 35 Senate Seats and Control of Congress at Stake

The AI Trade Faces a Reality Check: Intel, Cash Flow and Tail Risk

The AI Trade Faces a Reality Check: Intel, Cash Flow and Tail Risk

Alphabet Stock Falls 12.6% in Worst Day Ever After Earnings Miss and Negative Cash Flow

Alphabet Stock Falls 12.6% in Worst Day Ever After Earnings Miss and Negative Cash Flow

The 2020 Cheques: What Meta, Google and Jio’s Early Investors Are Sitting On Now

The 2020 Cheques: What Meta, Google and Jio’s Early Investors Are Sitting On Now

Jio Platforms Listing: Opens ₹1,358, Closes ₹1,417.50 — ₹10.3L Cr IPO Now ₹13L Cr

Jio Platforms Listing: Opens ₹1,358, Closes ₹1,417.50 — ₹10.3L Cr IPO Now ₹13L Cr

Inside Anthropic’s S-1: The Complete Breakdown of the IPO Filing

Inside Anthropic’s S-1: The Complete Breakdown of the IPO Filing

Pricing a Telecom Giant: Inside the Reliance Jio IPO Valuation

Pricing a Telecom Giant: Inside the Reliance Jio IPO Valuation

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Banks Put Up $63B for Anthropic's Broadcom Chips — Broadcom Guarantees the Gear

Banks Put Up $63B for Anthropic's Broadcom Chips — Broadcom Guarantees the Gear

Meta $95B Stock Sale: First Leg Priced at $37.5B, $60B Non-Voting to Come

Meta $95B Stock Sale: First Leg Priced at $37.5B, $60B Non-Voting to Come

Anthropic’s Balance Sheet: $131.7B of Cash and an $80B “Loss”

Anthropic’s Balance Sheet: $131.7B of Cash and an $80B “Loss”

Anthropic’s Compute Deals: Google, Amazon, Broadcom, NVIDIA, AMD

Anthropic’s Compute Deals: Google, Amazon, Broadcom, NVIDIA, AMD

How Anthropic Pays Dario and Daniela Amodei, per the S-1

How Anthropic Pays Dario and Daniela Amodei, per the S-1

Anthropic IPO Risks: The Numbers, the Unknowns and the Discount Rate

Anthropic IPO Risks: The Numbers, the Unknowns and the Discount Rate

Anthropic Revenue Growth: $41 Million to $11.6 Billion a Quarter

Anthropic Revenue Growth: $41 Million to $11.6 Billion a Quarter

Virtual Collaborators: Anthropic’s Product Bet and Its Evidence

Virtual Collaborators: Anthropic’s Product Bet and Its Evidence

Who Controls Anthropic? The Five Share Classes, Simply Explained

Who Controls Anthropic? The Five Share Classes, Simply Explained

Earnings Week: Microsoft, Alphabet, Amazon Lead 10 Major Reports as Profits Track Up 32%

Earnings Week: Microsoft, Alphabet, Amazon Lead 10 Major Reports as Profits Track Up 32%

Lula Wins Brazil Runoff 51.8% to 48.2% as Brazil ETF Crashes 19% Overnight

Lula Wins Brazil Runoff 51.8% to 48.2% as Brazil ETF Crashes 19% Overnight

Wall Street Is Stress-Testing AI. Who's Testing the Risk Models?

Wall Street Is Stress-Testing AI. Who's Testing the Risk Models?

The Data Leaked at Lunchtime. By the Close, Moderna Had Lost $24 Billion — on Results Most Oncologists Call a Win

The Data Leaked at Lunchtime. By the Close, Moderna Had Lost $24 Billion — on Results Most Oncologists Call a Win

Meta's Perfect Storm: a $25 Billion Fine, a Non-Voting Share Class and a Capex Bill Nobody Can Price

Meta's Perfect Storm: a $25 Billion Fine, a Non-Voting Share Class and a Capex Bill Nobody Can Price

The Shadow Fleet Ran Dry: Iran's Offshore Oil Is Gone, Qatar Is Buying American Gas, and New Mexico Just Billed Meta $25 Billion

The Shadow Fleet Ran Dry: Iran's Offshore Oil Is Gone, Qatar Is Buying American Gas, and New Mexico Just Billed Meta $25 Billion

The Oil That Wasn't Supposed to Flow: More Crude Is Leaving the Persian Gulf Than Before the War

The Oil That Wasn't Supposed to Flow: More Crude Is Leaving the Persian Gulf Than Before the War

The CDS Warning: What the Credit Market Is Pricing Into the AI Boom

The CDS Warning: What the Credit Market Is Pricing Into the AI Boom

The AI Trade's Insurance Bill Just Hit a Record: Default Swaps on Oracle, Meta and Even Nvidia at All-Time Highs

The AI Trade's Insurance Bill Just Hit a Record: Default Swaps on Oracle, Meta and Even Nvidia at All-Time Highs

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The $110 Oil Bid Went Live: Brent Touches $111.75, a Five-Month High, as Houthi Claims Target Saudi Energy

The $110 Oil Bid Went Live: Brent Touches $111.75, a Five-Month High, as Houthi Claims Target Saudi Energy

Record AI Profits, Worst Tech Week Since June: The Cost of Capital Came for AI

Record AI Profits, Worst Tech Week Since June: The Cost of Capital Came for AI

The Billionaire Share Giveaway: Musk Promises Every American Kid a SpaceX Share, Anthropic Pledges 5% to the Public

The Billionaire Share Giveaway: Musk Promises Every American Kid a SpaceX Share, Anthropic Pledges 5% to the Public

Missiles Cancel 'Davos in the Desert': Saudi Postpones FII to 2027 as Houthi Strikes Rattle the Kingdom

Missiles Cancel 'Davos in the Desert': Saudi Postpones FII to 2027 as Houthi Strikes Rattle the Kingdom

Tesla's Roadster literally flew — and the stock still fell

Tesla's Roadster literally flew — and the stock still fell

Warsh goes quiet before the blackout — and October-hike odds get cut in half

Warsh goes quiet before the blackout — and October-hike odds get cut in half

A Tale of Two Markets: Tech's Worst Week Since June, the Dow's Second Straight Win

A Tale of Two Markets: Tech's Worst Week Since June, the Dow's Second Straight Win

An Intrinsic Valuation of Rent the Runway (NASDAQ:RENT)

An Intrinsic Valuation of Rent the Runway (NASDAQ:RENT)

Meta and Apple just buried the hatchet — 816B-parameter AI is coming to your desktop

Meta and Apple just buried the hatchet — 816B-parameter AI is coming to your desktop

PPI roars 1.3% — biggest jump since March 2022 — and the October-hike thesis just gained fuel

PPI roars 1.3% — biggest jump since March 2022 — and the October-hike thesis just gained fuel

TSMC end of day: record $23.9B profit, 69% surge — stock falls 1.8% anyway

TSMC end of day: record $23.9B profit, 69% surge — stock falls 1.8% anyway

ASML's Q3: record €11.7B in sales, guidance raised again — and it still can't build fast enough

ASML's Q3: record €11.7B in sales, guidance raised again — and it still can't build fast enough

An OpenAI engineer bugged the boardroom — and the feds say he planned more

An OpenAI engineer bugged the boardroom — and the feds say he planned more

September CPI: 3.7% — hot, energy-led, and your paycheck shrank again

September CPI: 3.7% — hot, energy-led, and your paycheck shrank again

Trump Accounts Explained: The $1,000 Child Investment Accounts — SWOT and Cost-Benefit Analysis

Trump Accounts Explained: The $1,000 Child Investment Accounts — SWOT and Cost-Benefit Analysis

IMF: the world economy just split in two — and AI picked the winners

IMF: the world economy just split in two — and AI picked the winners

Britain's Welfare Bill Is Breaking the Budget — and the Bond Market Has Noticed

Britain's Welfare Bill Is Breaking the Budget — and the Bond Market Has Noticed

Wednesday's inflation report is the week's main event

Wednesday's inflation report is the week's main event

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Britain's borrowing costs cool off — just a little

Britain's borrowing costs cool off — just a little

Zuckerberg to AI labs: regulate yourselves — no industry pact needed

Zuckerberg to AI labs: regulate yourselves — no industry pact needed

Record Stocks, 24-Year-High Yields: Which Market Is Wrong?

Record Stocks, 24-Year-High Yields: Which Market Is Wrong?

Physical AI: The Brain and the Body Have Become Their Own Markets

Physical AI: The Brain and the Body Have Become Their Own Markets

The 30-Year Hit a 2002 High. Why Didn't Wall Street Panic?

The 30-Year Hit a 2002 High. Why Didn't Wall Street Panic?

600 Years of Capitalism: Reading the Review of Sven Beckert’s Global History

600 Years of Capitalism: Reading the Review of Sven Beckert’s Global History

Anthropic at $2 Trillion: The IPO Has to Beat a 5.56% Treasury First

Anthropic at $2 Trillion: The IPO Has to Beat a 5.56% Treasury First

The Bond Market's Bad Week Was an Episode, Not a Day: Why VaR Can't See It

The Bond Market's Bad Week Was an Episode, Not a Day: Why VaR Can't See It

Tanker Stocks in 2026: Record Profits, Near-$1 Million-a-Day Rates, and Whether It Is Too Late to Buy

Tanker Stocks in 2026: Record Profits, Near-$1 Million-a-Day Rates, and Whether It Is Too Late to Buy

Reading BRICS Like a Risk Manager: Why Dollar Diversification Is a Model-Risk Problem for U.S. Financial Markets

Reading BRICS Like a Risk Manager: Why Dollar Diversification Is a Model-Risk Problem for U.S. Financial Markets

Federal Reserve Raises Interest Rates to 3.75%–4%. Twelve Votes, Zero Dissents.

Federal Reserve Raises Interest Rates to 3.75%–4%. Twelve Votes, Zero Dissents.

When Markets Turn Volatile, Can Machine Learning See the Risk Coming?

When Markets Turn Volatile, Can Machine Learning See the Risk Coming?

The State of US Energy: Crude Production, Petroleum refining, the Strategic Petroleum Reserves, and Why Nobody Will Build a Refinery

The State of US Energy: Crude Production, Petroleum refining, the Strategic Petroleum Reserves, and Why Nobody Will Build a Refinery

US National Accounts, Gross Domestic Income Components, Fiscal Deficits, and Housing: Insights from Bloomberg Terminal Research

US National Accounts, Gross Domestic Income Components, Fiscal Deficits, and Housing: Insights from Bloomberg Terminal Research

July 2026 CPI: Headline Inflation Says 3.4%. The Last Three Months Say 0.8%.

July 2026 CPI: Headline Inflation Says 3.4%. The Last Three Months Say 0.8%.

Sandisk reports $9.8 billion in Q426 revenue

Sandisk reports $9.8 billion in Q426 revenue

Caterpillar's First $20 Billion Quarter: A Record $72 Billion Backlog, Raised Guidance, and the AI Boom in Yellow Iron

Caterpillar's First $20 Billion Quarter: A Record $72 Billion Backlog, Raised Guidance, and the AI Boom in Yellow Iron

Microsoft FY26 Earnings: $331 Billion in Revenue, $133 Billion in Profit, and the $115 Billion AI Bet That Just Paid Off

Microsoft FY26 Earnings: $331 Billion in Revenue, $133 Billion in Profit, and the $115 Billion AI Bet That Just Paid Off

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Federal Reserve Keeps Interest Rates Steady

Federal Reserve Keeps Interest Rates Steady

All About Monad (MON): Generate Value From Monad Blockchain

All About Monad (MON): Generate Value From Monad Blockchain

An Intrinsic Valuation of FIGMA (NYSE:FIG)

An Intrinsic Valuation of FIGMA (NYSE:FIG)

America's Net Investment Position with the World

America's Net Investment Position with the World

Dollar Gold Crude Relations

Dollar Gold Crude Relations

Gold: A Primer on Commodities and Trading

Gold: A Primer on Commodities and Trading

Novo Nordisk DCF Valuation: Should you invest in the Ozempic and Wegovy Maker for exeptional returns?

Novo Nordisk DCF Valuation: Should you invest in the Ozempic and Wegovy Maker for exeptional returns?

MP Materials Valuation: A Discounted Cash Flow Approach

MP Materials Valuation: A Discounted Cash Flow Approach