Mastering Financial Markets

Same calculations as the fixed-income page. Supply actual dated positive cash flows including redemption, settlement, currency, and either total outlay (clean price + accrued interest + fees) or annual-effective yield as a fraction. Returns price, annual-effective ACT/365F IRR, Macaulay and modified duration, convexity, DV01, maturity and repricing scenarios. Or select one of the 10 published bond ETFs to read N-PORT exposures and reported curve risks; coupon is not yield. No quota consumed, nothing stored, no advice. Search/fetch clients: bond: settlement=2026-11-04; currency=EUR; price=100; 2027-11-04=105. ETF example: bond: etf=TLT; country=US; haircut=0.1

Read one numbered part of a published MFM document or dataset (an id returned by search that starts with "portfolio:" recomputes the portfolio calculator, nothing stored). Company metadata includes verification_level, audit_id, audit_url and controls_performed. metadata.next_id identifies the following part or is null. Audit levels describe programme membership. Company records: amounts are whole units of the currency stated in each period (field currency), never thousands or millions; ratios in metrics are decimals (0.15 = 15%) except anni_* (years), copertura_interessi, conversione_utili_cassa, investimenti_su_ammortamenti and debito_su_patrimonio* (multiples, 1.5 = 1.5 times). years are in ascending order: the latest fiscal year is the LAST element, in the last parts, so follow every next_id before answering. ttm, quarters and interim_reports are separate periods with their own end dates; infrannuale_piu_recente names the most recent interim period and the block that holds it: use that one and never annualise. A null metric has its reason in warnings of the same period; an absent key is not zero. The pe block holds the P/E shown on the site, with the month-end price, its date and currency, earnings per share and the method (pe_ultimo null = not computed, reason in motivo_en); other price-based figures (market value, dividend yield) are not in the record. public_float is the aggregate market value of shares held by non-affiliates declared on the cover of the annual report (SEC: at the end of the second fiscal quarter), not the current market capitalisation; public_float_info gives its date, filing and definition. Two rows with the same fiscal_year (change of year-end) are told apart by period_label. When scheda_conservata_en (Italian: scheda_conservata) is present, the record is retained and no longer updated by the computation: state since when, why and the last financial year before using its figures. A period with perimetro_diverso belongs, wholly or for the listed items (voci), to a different entity (shell, SPAC, reverse-merger predecessor, divested scope): say so, use its en text and do not compare it with later periods. Descriptive data only: no forecast, no recommendation.

List public MFM catalog entries, optionally filtered by kind or verification level, with explicit pagination. Catalog availability does not certify completeness of every financial indicator.

Read the separate public user-proposal history, including final outcomes. These assertions are separate from official audits; next_cursor identifies another results page.

Run the MFM portfolio calculator, the same as the calculator page of the site, on positions the USER writes in the conversation. Returns, in order: "sintesi" (the page's «In short» box: {titolo, voci:[{chiave, titolo, testo, numeri}], nota}; composition and concentration against the MSCI World index, price paid for owner earnings against the S&P 500, earnings against the 10-year government bond, largest fall in past crises of the same type with name and years, currency exposure, latent tax; figures and comparisons only), then the page summary, A concentration looking through ETFs (HHI, equivalent companies, sectors, countries, MFM weighted X-ray of the latest reports), B currency risk, C latent tax and tax break-even fall (Italian rules for shares and ETFs when residence is IT), D the historical crises linked to the current MFM Market Weather one by one (name and years, fall in local and reference currency, amount on today's values, time under water, return needed to get back to the peak, inflation while waiting, real break-even), with the site's own sentences, formulas, declared limits and warnings. Each row: security = MFM company id (e.g. aapl), "COUNTRY:TICKER" (e.g. US:AAPL), ISIN, company name (e.g. Apple), or for an equity ETF the index it tracks or the ETF name (e.g. "S&P 500", "MSCI World", "Nasdaq-100", "Euro Stoxx 50", "FTSE All-World", "iShares Core MSCI World UCITS ETF"); current_value and book_cost (total amount paid) in the reference currency. Rows that cannot be resolved are listed with the reason (and candidate ids when several companies match) and left out; the others are computed. ISIN codes are recognised through the public OpenFIGI identifier service, as on the site (only the ISIN is sent, at most 10 per request). THE PORTFOLIO IS NOT STORED OR LOGGED: values exist only inside this request (only the codes of companies held directly are counted for the daily limit, without amounts); do not ask the user for personal data. Description only: historical and accounting figures, no forecast, no investment advice and no judgement; say so to the user. Quota: complete company pages are NOT consumed; companies held directly count toward the calculator limit of 300 companies a day per MFM account, as on the site (ETF-only portfolios count nothing). Clients that only expose search and fetch: search with "portfolio: residence=IT; currency=EUR; tax=26%; S&P 500 30000/25000; Apple 5000/1000; US:MSFT 4000/3500 USD; MSCI World 20000/18000 hedged" (each row: security value/book cost, optionally an exposure currency and "hedged"; "etf:" or "share:" before the name forces the type).

Read-only: how many complete company pages this MFM account can still read (10 every 5 minutes, 40 a day, 100 different companies a month) and how many selections (40 per calendar month, shared with the website), with reset times (UTC). Nothing is consumed. Clients that only expose search and fetch get the same answer from search with the query "quota" or from fetch with the id "quota".

On explicit user request: analysis=full queues full calculations for a level 3 company overnight, permanently; five new companies per UTC day per account, globally deduplicated by company. The default analysis=pdf queues PDF/interim reading within 7 days, five requests per month per account.

Filter and sort ALL MFM company profiles (about 10,700 listed companies) by the parameters the USER chooses, using the latest twelve months of each profile (the latest fiscal year or, when more recent, the reconstructed trailing twelve months; balance sheet at the end of that period; multi-year growth from the annual history): period_end in each result gives the end of that period, which is not necessarily a fiscal year end. Returns at most 10 companies with only the requested parameters, the audit level, a link and the exact fetch_id of the complete page. The order is the one chosen by the user: it is a data selection, not a recommendation, rating or investment advice; say so to the user. Ratios marked [fraction] are decimals (0.15 = 15%) both in filters and in results. Missing values never pass a filter or a sort. Quota per MFM account: 40 selections per calendar month, shared with the website; complete pages read afterwards with fetch count toward 10 every 5 minutes, 40 a day and 100 different companies a month (for more, contact the Observatory). BOND CALCULATOR: search "bond: etf=TLT" or "bond: settlement=2026-11-04; currency=EUR; price=100; 2027-11-04=105". No quota consumed. Metrics: anni_in_utile_5: Profitable years in the last 5; anni_oe_debito: Years of owner earnings to repay debt; anni_oe_debito_imp: Years of owner earnings to repay debt + commitments; anni_utile_debito: Years of earnings to repay debt; anni_utile_debito_imp: Years of earnings to repay debt + commitments; azioni_var3: Change in shares outstanding, 3 years [fraction]; conversione_utili_cassa: Cash conversion; copertura_interessi: Interest coverage; croe_lordo: CROE [fraction]; croe_tangibile: Tangible CROE [fraction]; croic_lordo: CROIC, gross (adjusted FCF) [fraction]; croic_lordo_imp: CROIC, gross (adjusted FCF) + commitments [fraction]; croic_lordo_media5: CROIC gross, 5-year average [fraction]; croic_tangibile: CROIC, tangible (adjusted FCF) [fraction]; croic_tangibile_imp: CROIC, tangible (adjusted FCF) + commitments [fraction]; debito_su_patrimonio: Debt / equity; debito_su_patrimonio_imp: Debt / equity + commitments; intensita_investimenti: Capital intensity [fraction]; margine_fcf: Adjusted FCF margin [fraction]; margine_netto: Net margin [fraction]; oe_attivo: Owner earnings to total assets [fraction]: Card owner earnings (metrics.owner_earnings) / closing total assets for the same fiscal year (values.attivo), in the same currency and unit. Only with immaterial non-controlling interests: their equity absent with evidence, zero with evidence, or in absolute value below 5% of positive total equity; their income, when available, in absolute value below 5% of net income for the same year (zero net income allowed only with zero minority income). Otherwise null with a reason. Unchanged numerator, including negatives; consolidated owner earnings are not reconstructed. MFM proxy: all capex treated as maintenance, additional working capital not deducted; neither a guaranteed lower bound nor distributable cash.; oe_attivo_media5: Owner earnings to total assets, 5-year average [fraction]: Arithmetic mean of the five annual oe_attivo ratios for consecutive distinct fiscal years, all available; otherwise null with a reason. Each ratio requires the same currency and unit for numerator and assets within its year; different currencies across years do not prevent averaging. It is not a ratio of cumulative amounts.; owner_earnings_cagr3: Owner earnings CAGR, 3 years [fraction]; ricavi_cagr3: Revenue CAGR, 3 years [fraction]; ricavi_cagr5: Revenue CAGR, 5 years [fraction]; roe_buffett_lordo: Buffett ROE, gross (income / adjusted capital) [fraction]; roe_buffett_lordo_imp: Buffett ROE, gross (income / adjusted capital) + commitments [fraction]; roe_buffett_tangibile: Buffett ROE, tangible (income / adjusted capital) [fraction]; roe_buffett_tangibile_imp: Buffett ROE, tangible (income / adjusted capital) + commitments [fraction]; roe_normale_lordo: ROE [fraction]; roe_normale_tangibile: Tangible ROE [fraction]; roi: ROI [fraction]; roic_lordo: Buffett ROIC, gross [fraction]; roic_lordo_imp: Buffett ROIC, gross + commitments [fraction]; roic_lordo_media5: Buffett ROIC gross, 5-year average [fraction]; roic_lordo_meno_wacc: Gross ROIC − Buffett WACC [fraction]; roic_lordo_meno_wacc_imp: Gross ROIC − Buffett WACC + commitments [fraction]; roic_lordo_min5: Buffett ROIC gross, 5-year minimum [fraction]; roic_manuali: Textbook ROIC [fraction]; roic_meno_wacc_manuali: Textbook ROIC − WACC [fraction]; roic_tangibile: Buffett ROIC, tangible [fraction]; roic_tangibile_imp: Buffett ROIC, tangible + commitments [fraction]; roic_tangibile_imp_media5: Buffett ROIC tangible + commitments, 5-year average [fraction]; roic_tangibile_meno_wacc: Tangible ROIC − Buffett WACC [fraction]; roic_tangibile_meno_wacc_imp: Tangible ROIC − Buffett WACC + commitments [fraction]; roic_tangibile_meno_wacc_rett: Tangible ROIC + commitments − adjusted WACC [fraction]; roic_tangibile_meno_wacc_sp: Tangible ROIC − WACC, no premium [fraction]; roic_tangibile_meno_wacc_sp_imp: Tangible ROIC − WACC, no premium + commitments [fraction]; utile_operativo_cagr3: Operating income CAGR, 3 years [fraction]; utile_operativo_cagr5: Operating income CAGR, 5 years [fraction]; utili_proprietario_su_attivo: Owner earnings / total assets [fraction]; variazione_derivati_3a: 3-year derivatives change [fraction]; wacc_buffett: Buffett WACC [fraction]; wacc_buffett_imp: Buffett WACC + commitments [fraction]; wacc_buffett_rett: Buffett WACC adjusted (derivatives 3y, MFM heuristic scenario) [fraction]; wacc_buffett_sp: Buffett WACC, no premium [fraction]; wacc_buffett_sp_imp: Buffett WACC, no premium + commitments [fraction]; wacc_manuali: Textbook WACC [fraction]

Search MFM public companies, pages and published datasets by keyword, company name or ticker. An empty result means no MFM record matched those words: say that MFM does not publish it under those words and never attribute figures from other sources to MFM. Results contain document identifiers and public URLs; private portfolios and accounts are excluded. SELECTION BY PARAMETERS (for clients that only expose search and fetch): start the query with "screen:" followed by conditions separated by spaces, e.g. "screen: roe_buffett_lordo>0.15 roic_tangibile>=12% debito_su_patrimonio<0.8 country=US,DE level=1,2 sort=roic_tangibile order=desc limit=10". Ratios are fractions (0.15 = 15%; "15%" is accepted); options: country=, sector=, industry=, level=1,2,3, developed=true, name=, sort=metric, order=asc|desc, limit=1-10, columns=a,b. Each result is one company with the requested metrics in the title and text and the fetch id of its complete page. The order is the one chosen by the user: a data selection, never a recommendation. Quota per MFM account: 40 selections per calendar month, shared with the website. PORTFOLIO CALCULATOR (same clients): start the query with "portfolio:" followed by settings and lines separated by ";", e.g. "portfolio: residence=IT; currency=EUR; tax=26%; S&P 500 30000/25000; Apple 5000/1000; US:MSFT 4000/3500 USD; MSCI World 20000/18000 hedged" (each line: security current_value/book_cost in the reference currency; company id, COUNTRY:TICKER, ISIN, company name, or the index an equity ETF tracks). One result with the whole calculator summary in its text, the same as the portfolio_calculator tool; nothing is stored. BOND CALCULATOR: search "bond: etf=TLT" or "bond: settlement=2026-11-04; currency=EUR; price=100; 2027-11-04=105". No quota consumed. Metrics: anni_in_utile_5: Profitable years in the last 5; anni_oe_debito: Years of owner earnings to repay debt; anni_oe_debito_imp: Years of owner earnings to repay debt + commitments; anni_utile_debito: Years of earnings to repay debt; anni_utile_debito_imp: Years of earnings to repay debt + commitments; azioni_var3: Change in shares outstanding, 3 years [fraction]; conversione_utili_cassa: Cash conversion; copertura_interessi: Interest coverage; croe_lordo: CROE [fraction]; croe_tangibile: Tangible CROE [fraction]; croic_lordo: CROIC, gross (adjusted FCF) [fraction]; croic_lordo_imp: CROIC, gross (adjusted FCF) + commitments [fraction]; croic_lordo_media5: CROIC gross, 5-year average [fraction]; croic_tangibile: CROIC, tangible (adjusted FCF) [fraction]; croic_tangibile_imp: CROIC, tangible (adjusted FCF) + commitments [fraction]; debito_su_patrimonio: Debt / equity; debito_su_patrimonio_imp: Debt / equity + commitments; intensita_investimenti: Capital intensity [fraction]; margine_fcf: Adjusted FCF margin [fraction]; margine_netto: Net margin [fraction]; oe_attivo: Owner earnings to total assets [fraction]: Card owner earnings (metrics.owner_earnings) / closing total assets for the same fiscal year (values.attivo), in the same currency and unit. Only with immaterial non-controlling interests: their equity absent with evidence, zero with evidence, or in absolute value below 5% of positive total equity; their income, when available, in absolute value below 5% of net income for the same year (zero net income allowed only with zero minority income). Otherwise null with a reason. Unchanged numerator, including negatives; consolidated owner earnings are not reconstructed. MFM proxy: all capex treated as maintenance, additional working capital not deducted; neither a guaranteed lower bound nor distributable cash.; oe_attivo_media5: Owner earnings to total assets, 5-year average [fraction]: Arithmetic mean of the five annual oe_attivo ratios for consecutive distinct fiscal years, all available; otherwise null with a reason. Each ratio requires the same currency and unit for numerator and assets within its year; different currencies across years do not prevent averaging. It is not a ratio of cumulative amounts.; owner_earnings_cagr3: Owner earnings CAGR, 3 years [fraction]; ricavi_cagr3: Revenue CAGR, 3 years [fraction]; ricavi_cagr5: Revenue CAGR, 5 years [fraction]; roe_buffett_lordo: Buffett ROE, gross (income / adjusted capital) [fraction]; roe_buffett_lordo_imp: Buffett ROE, gross (income / adjusted capital) + commitments [fraction]; roe_buffett_tangibile: Buffett ROE, tangible (income / adjusted capital) [fraction]; roe_buffett_tangibile_imp: Buffett ROE, tangible (income / adjusted capital) + commitments [fraction]; roe_normale_lordo: ROE [fraction]; roe_normale_tangibile: Tangible ROE [fraction]; roi: ROI [fraction]; roic_lordo: Buffett ROIC, gross [fraction]; roic_lordo_imp: Buffett ROIC, gross + commitments [fraction]; roic_lordo_media5: Buffett ROIC gross, 5-year average [fraction]; roic_lordo_meno_wacc: Gross ROIC − Buffett WACC [fraction]; roic_lordo_meno_wacc_imp: Gross ROIC − Buffett WACC + commitments [fraction]; roic_lordo_min5: Buffett ROIC gross, 5-year minimum [fraction]; roic_manuali: Textbook ROIC [fraction]; roic_meno_wacc_manuali: Textbook ROIC − WACC [fraction]; roic_tangibile: Buffett ROIC, tangible [fraction]; roic_tangibile_imp: Buffett ROIC, tangible + commitments [fraction]; roic_tangibile_imp_media5: Buffett ROIC tangible + commitments, 5-year average [fraction]; roic_tangibile_meno_wacc: Tangible ROIC − Buffett WACC [fraction]; roic_tangibile_meno_wacc_imp: Tangible ROIC − Buffett WACC + commitments [fraction]; roic_tangibile_meno_wacc_rett: Tangible ROIC + commitments − adjusted WACC [fraction]; roic_tangibile_meno_wacc_sp: Tangible ROIC − WACC, no premium [fraction]; roic_tangibile_meno_wacc_sp_imp: Tangible ROIC − WACC, no premium + commitments [fraction]; utile_operativo_cagr3: Operating income CAGR, 3 years [fraction]; utile_operativo_cagr5: Operating income CAGR, 5 years [fraction]; utili_proprietario_su_attivo: Owner earnings / total assets [fraction]; variazione_derivati_3a: 3-year derivatives change [fraction]; wacc_buffett: Buffett WACC [fraction]; wacc_buffett_imp: Buffett WACC + commitments [fraction]; wacc_buffett_rett: Buffett WACC adjusted (derivatives 3y, MFM heuristic scenario) [fraction]; wacc_buffett_sp: Buffett WACC, no premium [fraction]; wacc_buffett_sp_imp: Buffett WACC, no premium + commitments [fraction]; wacc_manuali: Textbook WACC [fraction]

Prepare a technical proposal for the separate public User Register after explicit user publication consent. The author is masked and the declared model is public. Receipt status PENDING_TIMESTAMP is not public acceptance; publication follows verified timestamp proof. This cannot edit financial data or official audits.

Prepare an evidence-based peer review for the separate 15-day User Register after explicit user publication consent. The author is publicly masked. Financial records and official audits remain unchanged. A proof-pending receipt is not yet public acceptance.