Learn Investing

29 guides on portfolio construction, factors, risk, and market strategy.

Guides

How to Read Financial Statements: The Investor's Playbook

Master the three core financial statements — income statement, balance sheet, and cash flow statement — and learn to spot red flags, identif...

Educational Guide

Portfolio Construction Fundamentals: Building Resilient Investment Portfolios

Learn the principles of modern portfolio construction including asset allocation, diversification, rebalancing, risk budgeting, and how inst...

Educational Guide

The Beginner's Guide to Factor Investing

Factor investing uses systematic rules—value, momentum, quality, size, volatility—to select stocks. This guide explains each factor, when it...

Educational Guide

Understanding Portfolio Risk: A Practical Guide

Portfolio risk is not just how much your investments can fall—it is a measurable quantity with specific metrics, drivers, and management too...

Educational Guide

Understanding Risk Metrics: Measuring What Matters in Your Portfolio

A comprehensive guide to the risk metrics that professional investors use to evaluate and manage portfolio risk, including standard deviatio...

Educational Guide

Factor Guides

Deep dives into the 24 factors that drive Stoquity's stock scoring model. View dedicated Factor Guides hub →

Value Factor: Finding Underpriced Stocks Using Fundamental Analysis

The value factor identifies stocks trading below their intrinsic worth. Learn the metrics, academic research, and how Stoquity applies value...

Price-to-Earnings Factor: The World's Most Popular Valuation Metric Explained

The price-to-earnings ratio is the most widely used stock valuation metric in the world — quoted by every analyst, screened by every investo...

Price-to-Book Factor: The Original Value Metric and Its Modern Relevance

Price-to-book ratio — the original value investing metric championed by Benjamin Graham — compares market price to accounting book value. Wh...

Free Cash Flow Yield Factor: The Most Honest Valuation Metric in Finance

Free cash flow yield — FCF divided by market cap or enterprise value — is widely considered the purest valuation metric because free cash fl...

Quality Factor: How Profitability and Stability Drive Returns

The quality factor selects companies with high profitability, stable earnings, low leverage, and durable competitive advantages. Learn how q...

Profitability Factor: Why the Most Profitable Companies Deliver Higher Returns

The profitability factor captures the academic finding that highly profitable companies earn superior stock returns. Learn how gross profita...

Return on Equity Factor: The Definitive Measure of Shareholder Value Creation

Return on equity (ROE) — net income divided by shareholders' equity — is the definitive measure of how well management generates returns on ...

Return on Assets Factor: Measuring Capital Efficiency Across All Business Types

Return on assets (ROA) measures how efficiently a company uses its total asset base to generate profits. Unlike ROE, which can be inflated b...

Operating Margin Factor: Pricing Power, Efficiency, and Competitive Advantage

Operating margin measures how much profit a company generates from each dollar of revenue before interest and taxes. High operating margins ...

Earnings Stability Factor: Why Predictable Earnings Command a Premium

The earnings stability factor identifies companies with consistent, predictable earnings that don't fluctuate wildly from quarter to quarter...

Growth Factor: Identifying Companies With Accelerating Fundamentals

The growth factor captures companies with above-average revenue growth, earnings expansion, and forward estimates. Learn how growth investin...

Revenue Growth Factor: The Top-Line Driver of Long-Term Stock Performance

Revenue growth is the purest measure of whether a company's market is expanding and whether it is capturing share. Unlike earnings, revenue ...

Dividend Growth Factor: Compounding Income and Total Return Over Time

The dividend growth factor identifies companies with consistent, above-average dividend increases. Growing dividends signal management confi...

Dividend Yield Factor: Income Generation and Total Return in Equity Portfolios

The dividend yield factor identifies stocks paying above-average dividends relative to price. Learn how dividend investing contributes to to...

Cash Flow Factor: The Purest Measure of Business Value

The cash flow factor identifies companies generating strong, consistent free cash flow. Cash flow is objective, difficult to manipulate, and...

Momentum Factor: Why Stocks That Win Keep Winning

The momentum factor captures the tendency of recent winners to continue outperforming and recent losers to continue underperforming. Learn t...

Earnings Surprise Factor: How Post-Earnings Drift Creates Alpha Opportunities

The earnings surprise factor captures the tendency of stocks to drift in the direction of their earnings surprises for weeks or months after...

Analyst Consensus Factor: How Wall Street Estimates Drive Stock Prices

The analyst consensus factor captures the aggregate wisdom (and biases) of sell-side research analysts. Estimate revisions — upgrades and do...

Insider Activity Factor: What Corporate Executives' Trades Reveal About Stock Value

Corporate insiders — CEOs, CFOs, directors, and major shareholders — have the most intimate knowledge of their company's prospects. When the...

Volatility Factor: How Low-Volatility Stocks Deliver Superior Risk-Adjusted Returns

The volatility factor captures the counterintuitive finding that low-volatility stocks deliver higher risk-adjusted returns than high-volati...

Leverage Factor: How Debt Levels Impact Stock Returns and Portfolio Risk

The leverage factor measures how much debt a company carries relative to its equity and earnings. Low-leverage companies historically outper...

Debt-to-Equity Factor: Measuring Financial Risk Through Capital Structure

The debt-to-equity ratio is the most fundamental measure of financial leverage — how much debt a company uses relative to shareholder equity...

Liquidity Factor: Trading Volume, Bid-Ask Spreads, and the Illiquidity Premium

The liquidity factor captures the finding that less liquid stocks tend to earn higher long-term returns — an illiquidity premium that compen...

Size Factor: Why Small-Cap Stocks Outperform Over the Long Run

The size factor captures the historical tendency of small-capitalization stocks to outperform large-cap stocks over long time horizons. Lear...