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    02 The complete index

    Everything published, in full.

    Every entry is a complete treatment: the working shown, the assumptions named, and the failure modes left in rather than tidied away. Indian market data turns up often as a worked example because it is unusually well documented, but the method is the subject, and the method travels.

    Browse by subjectReading path

    01 Browse by subject

    The data, the structures, and the book

    Analysis first, then the option structures, then what you do with a portfolio once you have both. Start with whichever row is the question in front of you.

    Row 01 Reading the data

    The z-score of a simulated pair spread crossing its two-standard-deviation entry bands and reverting to zeroThe z-score of a simulated pair spread crossing its two-standard-deviation entry bands and reverting to zero01

    Quantitative Analysis

    Statistical Arbitrage and Pairs Trading

    How pairs trading works, why cointegration beats correlation, how half-life and z-score thresholds set the trade, and why costs and breaks decide the result.

    14 minRead

    Read Statistical Arbitrage and Pairs Trading
    A scatter of 150 forward returns against factor exposure, with the fitted least-squares line and its standard errorA scatter of 150 forward returns against factor exposure, with the fitted least-squares line and its standard error02

    Quantitative Analysis

    Quantitative Analysis in Finance

    How quantitative analysis works: handling market data properly, the statistics that earn their place, factor models, and the four ways a backtest lies to you.

    13 minRead

    Read Quantitative Analysis in Finance
    A simulated price series above its RSI and MACD panels, with the bars where both indicators agree markedA simulated price series above its RSI and MACD panels, with the bars where both indicators agree marked03

    Technical Analysis

    RSI and MACD Confluence, Tested Honestly

    How RSI and MACD are computed, what combining them can and cannot add, and how to test a confluence rule against overfitting, costs and data snooping.

    16 minRead

    Read RSI and MACD Confluence, Tested Honestly
    A price series with its 50-bar moving average, and a dimension line measuring how many bars later the average turnsA price series with its 50-bar moving average, and a dimension line measuring how many bars later the average turns04

    Technical Analysis

    An Introduction to Technical Analysis

    Technical analysis explained honestly: what the charts actually show, which claims survive testing, and how to check whether an indicator works at all.

    11 minRead

    Read An Introduction to Technical Analysis
    The balance sheet identity drawn as two stacked columns of equal height, assets on one side and liabilities plus equity on the otherThe balance sheet identity drawn as two stacked columns of equal height, assets on one side and liabilities plus equity on the other05

    Fundamental Analysis

    Fundamental Analysis Explained

    Fundamental analysis in practice: which financial statement to trust, what the ratios really answer, and the governance red flags that precede most failures.

    9 minRead

    Read Fundamental Analysis Explained

    Row 02 The option structures

    The payoff of a long call butterfly at expiry, with the maximum at the middle strike, both breakevens and the debit markedThe payoff of a long call butterfly at expiry, with the maximum at the middle strike, both breakevens and the debit marked06

    Options & Trading

    Butterfly Option Structures Explained

    How butterfly options work: the payoff, how a butterfly settles at expiry, why iron and long butterflies are the same trade, and the risk in a broken wing.

    13 minRead

    Read Butterfly Option Structures Explained
    An iron condor payoff at expiry, showing the two credit zones, the flat band of net credit and the capped loss on each wingAn iron condor payoff at expiry, showing the two credit zones, the flat band of net credit and the capped loss on each wing07

    Options & Income

    Credit Spreads and Iron Condors

    How credit spreads and iron condors work, what the premium compensates you for, the margin reality, and the payoff shape that catches option sellers out.

    11 minRead

    Read Credit Spreads and Iron Condors
    A protective put payoff drawn against the unhedged portfolio line, with the floor, the breakeven and the constant cost of the premiumA protective put payoff drawn against the unhedged portfolio line, with the floor, the breakeven and the constant cost of the premium08

    Options & Hedging

    Hedging a Portfolio with Index Options

    How to hedge an equity portfolio with index options: how much of it to hedge, sizing the contracts, what puts and collars really cost, and when not to bother.

    12 minRead

    Read Hedging a Portfolio with Index Options

    Row 03 Models and the book

    A walk-forward validation split: six folds of expanding training data, each with a one month embargo and a twelve month test windowA walk-forward validation split: six folds of expanding training data, each with a one month embargo and a twelve month test window09

    Machine Learning

    Machine Learning for Stock Selection

    Machine learning for stock selection without fooling yourself: which models to try, walk-forward validation, where data leakage hides, and what survives costs.

    13 minRead

    Read Machine Learning for Stock Selection
    A year of simulated daily returns tested against a normal-model 99 percent VaR, with the exceptions marked and placed on the Basel traffic lightA year of simulated daily returns tested against a normal-model 99 percent VaR, with the exceptions marked and placed on the Basel traffic light10

    Risk Management

    Monte Carlo Value-at-Risk, Step by Step

    How Monte Carlo VaR works end to end: covariance, Cholesky shocks, full revaluation, fat tails, convergence, backtesting and expected shortfall.

    18 minRead

    Read Monte Carlo Value-at-Risk, Step by Step
    An equity curve against its high-water mark with the underwater plot beneath, and the gain the deepest drawdown demands to recoverAn equity curve against its high-water mark with the underwater plot beneath, and the gain the deepest drawdown demands to recover11

    Risk Management

    Risk Management Essentials

    Why drawdowns are harder to recover than they look, what Value at Risk does and does not tell you, and how to size positions so a bad month stays survivable.

    10 minRead

    Read Risk Management Essentials
    Income each year from a five-rung bond ladder and from a single bond when rates fall two points, against an unchanged-rate baselineIncome each year from a five-rung bond ladder and from a single bond when rates fall two points, against an unchanged-rate baseline12

    Portfolio Management

    Income Portfolio Construction

    Build a portfolio for cash flow rather than headline yield: duration and reinvestment, yield traps, REITs and InvITs, and stress-testing the income itself.

    15 minRead

    Read Income Portfolio Construction
    A simulated macro composite score with its regimes shaded, and beneath it the capped factor tilt it implies a month laterA simulated macro composite score with its regimes shaded, and beneath it the capped factor tilt it implies a month later13

    Portfolio Management

    Macro-Driven Factor Rotation

    How to turn liquidity, PMI and yield-curve data into modest factor tilts, with guardrails, honest measurement, and the case that timing often fails.

    13 minRead

    Read Macro-Driven Factor Rotation
    A two-asset efficient frontier, the straight line it would be if the assets were perfectly correlated, and the minimum-variance pointA two-asset efficient frontier, the straight line it would be if the assets were perfectly correlated, and the minimum-variance point14

    Portfolio Management

    Portfolio Construction: Theory and Process

    What portfolio construction is, the theory behind it, the process step by step, and why mean-variance optimisers build portfolios nobody should hold.

    13 minRead

    Read Portfolio Construction: Theory and Process

    Reduced motion is on, so every card is laid out at once.

    02 The reading path

    If you would rather be told where to start

    The same fourteen, arranged as a route instead of a catalogue. Each rung assumes the ones above it, which is the order I would hand them to someone starting from scratch. The lattice is the same idea drawn properly: one lit path out of many.

    Fig 2.1 Recombining lattice / 8 stepsOne lit path of 256
    t = 0t = 8
    Quantitative Analysis

    Quantitative Analysis in Finance

    From raw data to a signal you can trust. Start here: everything after it assumes this.

    Step 0113 min

    Fundamental Analysis

    Fundamental Analysis Explained

    What a business is worth, and which statement to believe when the three disagree.

    Step 029 min

    Risk Management

    Risk Management Essentials

    Drawdowns, value at risk, and the point where both stop describing reality.

    Step 0510 min

    Portfolio Management

    Income Portfolio Construction

    A book built for cash flow, where yield is the easy number and drawdown the real one.

    Step 0815 min

    Portfolio Management

    Macro-Driven Factor Rotation

    Tilting between factors as the cycle turns, and the honest case that it rarely pays.

    Step 0913 min

    03 Method / four checks

    Every article runs the same four checks before it ships

    Scroll and the rail runs them in order. Nothing gets written up until all four pass, and the ones that fail are the reason there are fourteen articles here rather than ninety.

    1. 01

      Intake

      Armed

      Prices get adjusted, survivors get counted, and the sample is cut back to the information that actually existed at the time. Most of the work is here.

    2. 02

      Model

      Armed

      A fit is not a finding. Walk forward only, one holdout that is never touched twice, and a null model that has to be beaten before anything gets written down.

    3. 03

      Risk

      Armed

      What the position loses, not what it makes. Drawdown, value at risk, and an honest note about the point where both stop describing reality.

    4. 04

      Publish

      Armed

      Figures are computed from the data in the post rather than drawn to look right. Sources cite the primary document. Corrections are dated in place rather than made quietly.

    The long version, including how market data is lagged and what is deliberately not covered, is in the editorial policy.