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Concepts
Short evergreen notes on ideas that show up on the desk. For context, not personal advice.
21 Jul 2026
Why sleeves should not move together
Correlation in plain English: why a multi-strategy book wants sleeves that fail at different times.
21 Jul 2026
What is drawdown?
Max drawdown in plain English: how far a book falls from a peak, and why the path matters as much as the return.
21 Jul 2026
What is a multi-strategy book?
Why a desk runs several sleeves instead of one idea, and how that shows up on Live and Strategies.
21 Jul 2026
What is risk parity?
Equal-risk allocation across assets, in plain English, and how it appears as a sleeve in the paper book.
21 Jul 2026
What is systematic trading?
Rules-based trading in plain English: signals, risk, rebalance, and logging, without a pitch deck.
18 Jul 2026
Paper trading vs live trading
Why a paper track record is a skill signal, not a regulated live track record for raising capital.
18 Jul 2026
What is PEAD?
Post-earnings announcement drift: why earnings surprises can keep moving prices after the headline.
18 Jul 2026
Sharpe ratio, in plain English
How risk-adjusted return is measured, and why a high Sharpe on paper is not a promise.