Headlines move markets.
Positioning determines who profits.

June 2026 — What paid subscribers read this month

The research, behind the paywall

Each piece takes a position — a claim I would defend in conversation — and gives you the mechanism, the position, and exactly what would change the call.

Members perk · New

The thesis is half the work.
This is the other half.

Most research stops at the idea. Members also get the live book — the trades and ideas I'm actually holding right now, each with the reasoning, the level that breaks the thesis, and an honest note on how it's playing out. The difference between reading a view and watching it carry risk.

Member benefits

Everything inside the membership

What readers say

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Pricing

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Questions

Before you decide

• Who is this for?
  Traders, portfolio managers, quants, and serious retail investors who want rigorous macro and systematic analysis — not a newsletter that summarises headlines, but one that explains the mechanism behind the price. If you're analytically literate and sceptical of received narrative, this is built for you.
• What is Live Positions?
  A live, members-only book of the trades and ideas I'm actually holding — long, short, and the ones I'm waiting on — each with its thesis, conviction level, and the level that would prove it wrong. It's the proof layer behind the research: where the written view becomes a position carrying real risk. Included with every membership at no extra cost, and updated through the week. The Options Playbook is the one thing that's separate (see below).
• How is this different from sell-side research?
  Sell-side research describes what happened. This publication asks why the plumbing made it inevitable — and what specifically would have to change to invalidate the call. Every piece ends with concrete triggers and invalidation criteria, not hedged conclusions.
• How often do paid pieces come out?
  Two to three long-form paid pieces per month, plus the Notes feed available to all subscribers. Paid pieces run 2,500–4,000 words with a full cross-asset view: equities, rates, commodities, FX, and vol where relevant.
• What if I want to test it first?
  The free tier gives you the Notes feed plus the intro section of every paid article — enough to get a clear sense of the voice, the depth, and whether the analytical approach fits how you think. You can read the public pieces in full before deciding.
• Is the Playbook included in the subscription?
  No — the Options Playbook is a separate, standalone product at $179. It covers systematic options strategies in depth and is available without a subscription. The Strategy Library inside the membership is a different, ongoing resource that grows with each publication.
• Can I book a 1:1 session without subscribing?
  Yes. The 50-minute private session is available independently via the Call page. If you're already a paid subscriber, mention it when you book — priority slots are allocated to members first.