• Tariffs are extra fees on goods imported into a country, and they hit company profit margins.
• The S&P 500 dropped over 3% in one day after the 2025 tariff announcement.
• Tariffs reshape trade flows, creating both losers and unexpected winners.

• A 13F filing is a quarterly disclosure of stock holdings from large institutional investors.
• It shows what hedge funds and asset managers bought, sold, and held last quarter.
• You can find any 13F free on SEC EDGAR.

• The debt-to-equity ratio compares what a company owes to what shareholders own.
• The formula is total liabilities divided by total shareholder equity.
• Lower ratios mean less risk - one of the value markers Warren Buffett looks for.

• Non-financial analysis evaluates a company's business, not its financial ratios.
• It covers four things: business model, CEO, innovation, and moat.
• It's how investors find companies with long-term staying power.

• SEC EDGAR is the official free database of public company filings.
• You can pull 10-Ks, 10-Qs, 8-Ks, and insider trades by ticker or company name.
• It's the source journalists and analysts use to write their stock stories.

• A 10-Q is a public company's three-month financial update, filed with the SEC.
• It shows revenue, profits, debt, and cash flow between yearly reports.
• You can find any company's 10-Q for free on the SEC's EDGAR site.

• A put option is a contract that gives you the right to sell a stock at a set price before a set date.
• Investors use put options to protect their portfolio against losses or to profit when they think a stock will drop.
• The most you can lose when buying a put option is the premium you paid for the contract.

• Free cash flow is the cash a company has left after paying its bills and putting money back into the business.
• Investors use free cash flow to figure out what a company is really worth - and if the stock is a good deal.
• You can find free cash flow on a company's cash flow report, one of three key reports every public company files.

Non taxable income is money you earn that the IRS does not tax - like Roth IRA cash, muni bond interest, and certain investment gains. The U.S. tax code taxes workers, investors, and business owners at very different rates. Tools like Roth accounts, muni bonds, and real estate write-offs can help you keep more of what you earn.

• A Nasdaq index fund lets you invest in the 100 biggest non-bank companies on the stock market all at once.
• You can access the Nasdaq through index funds, mutual funds, or ETFs like QQQ - each with its own fees, trading rules, and style.
• Picking the right Nasdaq index fund comes down to three things: who runs it, what is in it, and what it costs.