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People want to succeed, get married, have kids, build a business, sign the deal, raise the fund, win the game, buy the classic Corvette. That's our job. Each issue picks one real practitioner problem — a sale that needs to close, a fund being raised, a CFO seat being filled, a young athlete signing the first big deal, a small town turning around, a family preparing the next generation — and walks the math, the structure, and the move. Under five minutes to read. No marketing copy. Forward it if it helps.
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A 41-page cross-cut walking Berkshire Hathaway, Apple, Microsoft, Koch Industries, Lyft, and Meta through the six-source-of-funds framework. Sourced numbers traced to 10-K filings. The thesis: at sufficient scale, every operating company starts allocating like a PE firm, whether or not it admits it.
A 27-page cross-cut walking Lyft, Cleveland-Cliffs, SNAP, Carnival, and General Motors through the §382 ownership-change limitation, valuation allowance dynamics, and the book-vs-tax bridge that most sell-side models miss. Sourced to each company's 10-K and recent 10-Q.
MLB players file bankruptcy at one-third the NFL rate. The reason is structural — specific collective-bargaining provisions that route athletes toward second careers, second businesses, and second acts instead of post-career drift.
The numbered series was reset in May 2026. The inaugural Issues 01 (OBBBA exemption) and 02 (buy-sell audit) were short practitioner observations rather than the cross-cutting, multi-company Briefs the Library uses the word "Brief" to mean. They have been republished under their original titles on the Field Notes shelf.
Going forward, a Brief is a 15-40 page synthesis across five or more companies with sourced numbers and a methodology note. Issue 03 (MLB CBA, four leagues compared) sets the standard. The Private-Equity Brief and the Net-Operating-Loss Brief sit alongside it as Special Briefs. See how the four shelves fit together →
A Brief is a cross-cutting synthesis across five or more companies, 15-40 pages, with sourced numbers traced to filings and a methodology note. The Private-Equity Brief walks six PE firms through the six-source-of-funds framework. The Net-Operating-Loss Brief walks five companies through the §382 limitation. Issue 03 walks four leagues through the post-career bankruptcy data. Each was ready when the cross-cut was complete, not when the publishing calendar said so.
For the practitioner moment-in-time observations — the OBBBA play, the §1202 stack, the 13-week cash forecast — see the Field Notes shelf.