Learn the basics

Short lessons, in order, from what a return is to how an option pays off. Each one has something to drag and try, and links to the calculator that does the sum on your own numbers.

1. Foundations
2. 1Risk, return and compoundingWhat a return is, how it compounds, what inflation takes, and why swings cost money.Start →
3. What you can own
4. 2Equity and its typesOrdinary and preference shares, DVRs, bonus and rights issues, and large, mid and small caps.Read →
5. 3How a trade happensExchanges, brokers, demat accounts, and why there is always a bid and an ask.Read →
6. 4Bonds and their typesGovernment and company bonds, T-bills, tax-free and zero-coupon bonds, and why prices fall when rates rise.Read →
7. 5Mutual funds and ETFsNAV, expense ratios, direct and regular plans, and active against index funds.Read →
8. Derivatives
9. 6Derivatives and their typesForwards, futures, options and swaps, and what each one is for.Read →
10. 7Forwards and futuresThe same promise, made two different ways, and why the difference matters.Read →
11. 8OptionsCalls and puts, strike and premium, and being in, at or out of the money.Read →
12. 9Long and short, calls and putsThe four basic positions, with payoffs you can drag and reshape.Read →
13. After the basics
14. ◆Measuring performanceA hands-on course: time-weighted and money-weighted returns, fees, risk, and attribution.Coming soon

Lessons explain ideas. None of them tells you what to buy, sell or hold. To pass the time between lessons, try the games.