Tranches slice financial products into segments

Securities is a term used to describe different types of investments

Not every type of investment qualifies as a security (like property or gold). Securities fall under four main categories (equity, debt, derivative, and hybrid) that serve different functions in the market.

Since the 1990s, banks have sold some of the credit risk of their accounts to external investors, known as SRTs, or synthetic risk transfers

This means if the account defaults, the outside investors assume most of the risk in return for some regular payments, freeing up the bank's ledger. It is a form of insurance used by banks to allow them to free up capital. In 2024, nearly $100B worth of SRT notes were sold.

Shares are parts of a stock that represent ownership of a company

Shares are traded on the stock market. Once you buy a single share of a company, you are considered a shareholder of that company and may have certain rights as a partial owner, such as voting on business decisions.

A 'position' in financial markets refers to the amount of a security or asset that an investor owns or sells short

A "long" position gains from an increase in a security's price, whereas a "short" position profits from a price drop. This article includes a detailed explanation of the term "position" as it relates to investing and financial markets.

Direct lending typically involves 'senior loans'

Direct lending, the most common subtype of private credit, typically involves senior loans which are secured by a company's assets. "Junior capital," on the other hand, is a type of private credit that is not secured by a company's assets, making it generally riskier than direct lending.

Commodity traders are most commonly 'hedgers' or 'speculators'

While hedgers often produce and consume physical commodities (like corn, copper, or natural gas) and use the markets to manage the price risk for those commodities, speculators provide liquidity by betting on commodity price changes.

The stock market, explained in 3 minutes

Curious about the inner workings of the stock market? 1440's got your breakdown of how it works.

Retail investors are average joes, while institutional investors often move billions of dollars a day

Retail investors often trade 100 shares at a time, while institutional investors trade 10,000 or more. The biggest difference is that, unlike retail investors, institutional investors are professionals who are trading someone else’s money.

Refinancing a mortgage is when a homeowner exchanges their current loan for a new one

Homeowners typically refinance to secure a lower interest rate and potentially a new loan term length. Debt owed on mortgages made up about 70% of US consumer debt as of 2025.

Annuities are financial products typically used by retirees looking for guaranteed income streams

Specifically, annuities are contracts between an individual and an insurance company that require the insurance company to make regular payments to the individual.

What are Treasury yields?

Treasury yields are the interest rates that the US government pays to borrow money for different lengths of time. Specifically, Treasury yields are interest rates on US government debt. They reflect economic outlooks and inflation expectations. Learn more about Treasury yields here.

Trusts are estate planning tools

They’re used as a way to designate assets to beneficiaries while skirting certain taxes and maintaining one’s privacy. They can hold a wide range of assets, including cash, real estate, stocks, businesses, and more.

Trademarks are a form of consumer protection

Trademarks help brands distinguish their products from competitors, but they also give consumers clarity around the product they are buying and where it comes from. Distinguishable names help prevent consumer confusion and maintain a consumer's ability to choose their preferred product and brand.

Convertible notes represent loans that startups owe investors

In the second part of a two-part series, convertible notes are explained to be a tool angel investors use to ensure they see a return on their investment in a startup.

Dividends are payments made by a corporation to its shareholders

From the Dutch East India Company paying out the first dividends over 400 years ago to the word “dividend’s” ancient Latin roots, Dividend.com has a full explainer of this investing perk and how individuals can earn income while holding dividend-paying stocks or ETFs.

Tokenization breaks text into pieces that LLMs use to process language

Instead of understanding the meaning of words, large language models break up sentences into words and subwords, assigning each a set of numbers called tokens. Grammar rules are then "learned" by finding associations between these sets of numbers.

There are more than 300 different thematic ETFs

Exchange-traded funds seem to offer something for everyone. As tracked by ETF.com, there are 338 thematic ETFs, offering exposure to “baskets” of stocks covering global infrastructure, genomics, cannabis, and more.

Read about different levels of price discrimination

Price discrimination is a business practice in which different customers are charged different prices for the same product or service. It's one way for a business to boost profits and take advantage of its market position. There are three levels of price discrimination, differentiated by the consumers targeted and the reasons for discrimination.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

The 'Two and Twenty' structure allows hedge funds and private equity firms to earn significant returns

With this structure, firms charge limited partners or "LPs" a 2% management fee for overseeing the fund (assets under management or AUM) and take 20% of the fund's overall profits (carried interest). Many private credit funds also operate under this structure.

Tone Transfer recreates any piece of audio into instrumental recreations

Using machine learning models and Differentiable Digital Signal Processing, this tool can transform any 15-second sound clip into a flute, saxophone, trumpet, or violin reproduction. Researchers behind the open-source experiment hope the technology will enable musical creation through creative sound combinations.

The movie adaptation of ‘The Big Short’ provided a visual for the 2008 housing bubble

A scene from "The Big Short" visualizes how Wall Street bundled shaky mortgages into complex housing bonds and sold credit default swaps on top of them—showing, step by step, how the structure of the 2008 housing bubble was vulnerable to collapse.

Many investment bankers work on mergers and acquisitions

At some point in their careers, many investment bankers work on facilitating or advising clients on mergers or acquisitions. From analyzing industry group trends to deal negotiations, an M&A in investment banking explainer outlines how investment bankers handle these business transactions.

Blockchain, explained in five layers of difficulty

Blockchain, the key technology behind bitcoin, is a new network that helps decentralize trade and allows for more peer-to-peer transactions. Wired challenged political scientist and blockchain researcher Bettina Warburg to explain blockchain technology to five different people: a child, a teen, a college student, a grad student, and an expert.

NFTs can be used for fractionalized ownership of assets

Non-fungible token is a term used to describe a unique digital asset whose ownership is tracked on a blockchain, such as Ethereum.

The complexity of classifying a tree

It may seem obvious to us when we see a tree, but very specific characteristics cause scientists to distinguish trees from other types of plants. This video provides a visual and verbal explanation of distinctions that separate trees from other plants like shrubs or herbs. See a scientific breakdown of these traits.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Watch this video that uses Lego bricks to explain how venture capital works.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

Fear or disgust related to clusters of holes and cracks, called trypophobia, may stem from evolutionary processes to help us avoid pathogens.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Objects can be 3D printed with light by projecting 2D computerized tomography (CT) scans onto rotating cylinders of resin, which solidify upon exposure.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Ebola is a filovirus, meaning it resembles a thread under a microscope, though it sometimes twists and can resemble a bowl of spaghetti.

Shooting stars, or meteors, are fragments of asteroids and comets that burn up as they enter Earth's atmosphere, creating streaks in the sky called meteor showers.

Alzheimer's can lead to brain shrinkage, with an average of around 2% of volume reduction per year

Visualize how CRISPR-Cas9—a type of immune system used by single-celled organisms to attack invasive viruses—targets and makes precise changes to a gene's DNA.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

Explore the animals that populate the depths of the ocean, from fish and coral in the first few hundred feet, all the way down to the bottom of the Mariana Trench.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

'Shogun,' a 1980s TV series, helped popularize sushi in the US by stimulating an American interest in Japanese culture.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Volcanoes 'die' when their supply of magma runs out, if they are shifted away from their underlying magma reservoir, or if they get clogged by collapsing or their magma cooling back into rock.