Articles

Research notes

Long-form pieces with reproducible figures and interactive simulations. Each article is self-contained: bring a few minutes and a willingness to disbelieve.

What the essays cover

1.6M+
Strategies analysed
the firm's full corpus
23M+
Strategy-windows
walk-forward IS / OOS
6
Interactive demos
every figure rebuilt live, in-browser
3.2k
Lines of code
analysis behind the essays
100%
Reproducible
from a public data table

2026-07-20 · 18 min read

When line coverage lies

A guarded constraint in a zero knowledge circuit is enforced by multiplying it by its selector, so where the selector is zero it is satisfied for free while the code still runs and coverage still turns green.

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LINE COVERAGEACTUALLY ENFORCED8 / 83 / 8 enforced

2026-06-22 · 12 min read

A topological way to build portfolios

Select strategies from the edge of the correlation network, the ones orthogonal to the common market mode, and a thin crypto edge sharpens where chasing Sharpe self-destructs.

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crowded corediversifying rim

2026-05-06 · 12 min read

What “1.6 million strategies” actually means

A response to the data-mining objection, how the corpus is built, and what its geometry implies.

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01|ρ|=0.5mean 0.123
pairwise |ρ|, peaked near zero

2026-05-22 · 15 min read

Edge is in the Process

Selection turns a losing pool of 533,638 strategies profitable on 8 of 12 markets.

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break-even
pool loses, selection clears break-even