From zero
This section does not teach you to invest. It teaches you to read. Every lesson opens with a sentence from a news story that you would skip today, and ends when that sentence reads like English. That is the criterion for what gets in: if a concept never turns up in a news story, it does not belong here.
A line from the paper, blurred, at the top of every lesson. Legible by the end.
Free
The lessons in this section are open. The paid, in-depth course is a different thing, and comes later.
How it works
Each lesson is a page of diagrams that answer to your touch, plus two short videos — the opening and the closing. The voice is mine, in Portuguese; the subtitles follow whichever language you pick up there.
Who is speaking
Fêr Ulianov on the traditional markets track, Renato Ulianov on crypto. The lessons are written for someone who has never bought anything and is under no obligation to know anything yet.
Traditional markets
Shares, exchanges, indices, interest, inflation and currencies — through the U.S. market, which is where almost everything you read comes from.
What a share isReady
A piece of a company. Why a share's price says nothing about its size, where the money comes from, and what the letters of a ticker mean.
Start the lesson 02NYSE and NasdaqReady
Why there are two exchanges, what differs between them, and what “the market closed” actually means.
Start the lesson 03The S&P 500Ready
What it measures, why 500, and why it rises when seven companies rise.
Start the lesson 04How to read a price chartReady
Axis, period, and why the same share seems to rise or fall depending on the window.
Start the lesson 05The Fed and interestReady
The price of time, and why one sentence from the Fed chair moves everything.
Start the lesson 06CPIReady
Why the same money buys less, and what “core” means.
Start the lesson 07Fixed income and equitiesReady
U.S. Treasuries, and what “fixed” income actually fixes.
Start the lesson 08Exchange ratesReady
Why the dollar rises, and what that changes for anyone not paid in dollars.
Start the lesson 09The monthly numbersReady
Payrolls, GDP, unemployment: what the paper quotes without explaining.
Start the lesson 10Who is whoReady
The Fed, the SEC, the NYSE, the Nasdaq, the Treasury: who does what.
Start the lessonCrypto markets
After the first one. The two share half their content — interest, inflation, indices, how to read a chart — and that half is better learned once.
What a crypto isReady
What you actually hold when you hold a crypto: a balance in a public ledger and a key only you have.
Start the lesson 02The blockchainReady
The ledger thousands of machines copy at once. What a block is, what a confirmation is, and why nothing can be erased.
Start the lesson 03BitcoinReady
Programmed scarcity, the halving, and what mining actually does — which is not finding coins.
Start the lesson 04Ethereum and tokensReady
The difference between a coin, a token and a smart contract — and why almost every crypto you see is a token.
Start the lesson 05StablecoinsReady
Why a crypto promises to be worth one dollar, what backs it, and what happens on the day it isn't.
Start the lesson 06Where you buy and who holds itReady
An exchange and your own wallet are not the same thing. Whoever holds the key holds the coin — and at an exchange the key is not yours.
Start the lesson 07The fee, the network and the confirmationReady
The fee does not look at how much you send. A confirmation is a count, not a stamp. And the right address on the wrong network does not come back.
Start the lesson 08SecurityReady
The recovery phrase is the whole key. No arrangement protects against everything. And the scam that works does not steal: it gets you to sign.
Start the lesson 09How to read the crypto marketReady
Market cap is not money that went in. Volume can be manufactured. And part of the supply cannot even be sold yet.
Start the lesson 10Who's who in the crypto marketReady
Someone proposes, someone decides, someone orders, someone holds and someone regulates. Mixing the five up is what makes wrong headlines.
Start the lessonEducational material. It explains the vocabulary and the mechanics of the market so that you can read a news story without depending on anyone else's interpretation. It is not a recommendation to buy or sell.