Friday, May 15th.
LEDGE FACTPecking order theory: firms prefer internal funds first, then debt, then equity - issuing equity is a last resort
Today's reading
The Math of Compounding.
From the reading list — Book
Roger Lowenstein: “When Genius Failed”
Glossary
Quantitative Easing — Central bank policy of buying long-dated bonds to push interest rates down and inject liquidity.
Markets
Most-held borrower across BDCs: Debt Investments (26 BDCs report exposure).
Markets
S&P 500 — down 1.20% on the day.
What’s new
- Privacy & data section in SettingsSelf-service GDPR data export + account delete, plus the AI consent toggle, all moved into one place under Settings.
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- Mobile install (PWA Phase 1)Add Oxford Ledge to your iPhone or Android home screen — runs full-screen, loads in under a second on warm visits.