Public · nothing here asks you to sign in

Everything you half-know, taken apart.

You are not a beginner. You know about forty terms well enough to act on them, which is the dangerous amount. This floor is open — no account, no cap, no thread limit, and nothing that greys out halfway down.

2 stations open — the whole thing, not a sample0 of this page behind a login9 written guides, kept

Open, in full, right now

Not a sample. The whole station — no account, no cap.

Earnings, per share, and what you pay for themFree · no login · uncapped

Measure

Company fundamentals. Move one input and watch every figure downstream of it move.

InputDerived figureRatioJudgement — not a numberclick any term to re-centre · the lit path is downstream

Pause · mechanismthis one has an answer

Adjusted earnings are the higher number and the share price has not moved. What does the adjusted P/E do?

One question, then back to the graph. This one is arithmetic, so it has a right answer and Solvent will mark it.

Ratio · derived

EPS

now: $0.70

Earnings ÷ share count. Which earnings? That is the whole point of this graph — and the answer changes the number without anything about the business changing.

What moves itGAAP earnings÷ share count Adjusted earnings÷ share count Share countthe divisor

What it movesP/E ratioprice ÷ EPS

Pull the thread

Move one input and watch every number downstream of EPS move with it. Arithmetic only — nothing here is a forecast.

Pick one. The lit path shows what is downstream of the term you are on — everything else stays put.

The worked case · Northline

Same company. Same day. Two P/E ratios — and the flattering one gets quoted.

On GAAP earnings

32.4×

EPS $0.70 · audited

On adjusted earnings

21.6×

EPS $1.05 · not audited

Nothing about the business differs between these two columns. One $42.0m charge was added back, the denominator got bigger, and the ratio got smaller. Neither number is a lie — but only one of them has an auditor’s name on it.

A runOpen · no login

The Gold Standard, and what replaced it

Sit through it once. Money used to be a claim on metal. It stopped being one, on a specific afternoon, by one man’s decision — and almost everything you are told about inflation dates from after that.

Start the run →History and mechanism. No products, no positions, nothing to sell

Why these particular years

The money system changed underneath all of it — which is the part almost nobody teaches

1929

The crash

Under a gold standard — which is the detail that makes it a different event from the other two, and the one usually left out.

1944

Bretton Woods

Currencies pegged to a dollar pegged to metal. The arrangement most people still unconsciously assume is in place.

open here

1971

The window closes

One afternoon, one decision, and money stops being a claim on anything. Everything after this behaves differently.

open here

1987

New Zealand

The worst-hit developed market in the world. Thirty years on, people were still arguing about whether it had recovered.

2008

A drought first

New Zealand was in recession six months before Lehman. Four links later it reaches a mortgage.

1971 is the hinge. Read 1929 without it and you are reading about a different kind of money. That is why the Gold Standard run is open on this page rather than kept inside — it is the one that makes the others legible.

The guides

The original library — practical, written, kept

Guide series

Getting Started

New to Solvent? Start here. Learn the philosophy and set up your foundation.

01What Is Conscious Spending?The philosophy that makes Solvent different from every other finance app.3 min 02Setting Up Your AccountsCreate a clear picture of where you’re starting from.4 min 03Your First Spending PlanGive every dollar a job before the month begins.5 min

Guide series

Spending Plans

Go deeper into budgeting methods and how to use your spending plan effectively.

01Zero-Based Budgeting ExplainedEvery dollar gets a job. Learn how this simple method works.5 min 02Planned vs. ActualUse real-time tracking to stay conscious throughout the month.5 min

Guide series

Mindset

The psychology of money. How we think, feel, and relate to our finances.

01The Pause Before PurchaseTen seconds can change everything. Transform mindless spending into intentional choice.6 min 02Money Shame and HealingWhy money shame is so common—and how to start moving through it.6 min

Guide series

Debt

Strategies and motivation for becoming debt-free.

01Snowball vs AvalancheTwo proven ways to pay off debt. Choose the approach that works for you.5 min 02Staying Motivated During Debt PayoffHow to keep going when motivation fades—because it will, and that’s normal.6 min

Advice lineThe same rule holds on a public page as inside the product: nothing here ranks two subjects, nothing points at the future, and history is stated as history with its endpoints attached. A marketing page is exactly where that discipline usually breaks, so it is worth saying that it does not break here.