Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
5,922 documents
The article describes a risk-parity strategy for a basket of tokenized traditional assets and BTC: an equity index proxy, gold, crude oil, and Bitcoin. Rather than assigning equal capital, it seeks roughly equal risk contributions, accounting for both asset…
The document introduces Shannon’s Demon, a portfolio rebalancing method that holds equal values in a risky asset and cash, then restores that balance after the asset price changes. The strategy aims to capture gains from price fluctuations even when the…
This article explains two ways to seek gains when a crypto price fluctuates around a stable level. A balancing strategy maintains a target value split between cash and coin, trading when the allocation drifts beyond a chosen adjustment band. A grid strategy…
The document introduces Value at Risk (VaR) as an estimate of portfolio loss over a chosen horizon and confidence level. It contrasts parametric, historical simulation, and Monte Carlo approaches, then walks through historical simulation: calculate portfolio…
This overview presents an extended API as a way to manage many live trading accounts from a central strategy. It demonstrates retrieving and filtering a list of account processes by strategy and status, then displaying identifiers, names, state, and profit…
This guide explains how cross collateral lets traders use eligible currencies other than a derivative’s settlement currency to support positions and orders. It distinguishes settlement currencies, collateral currencies, and offset currencies; the latter can…
The article explains how portfolio margin differs from standard margin. Standard accounts calculate requirements position by position and add them together, while portfolio margin evaluates how the combined portfolio might perform under changes in underlying…
This commentary separates a Bitcoin-led rally, associated with expectations for a spot ETF, from a broader crypto and risk-asset advance that coincided with stronger equities. It compares Bitcoin and Ethereum performance, BTC dominance, and gains in several…
This analysis examines PancakeSwap’s rise as a decentralized exchange on Binance Smart Chain, linking its adoption to lower transaction costs, faster blocks, Binance’s user and asset ecosystem, and a tradeoff between throughput and decentralization. It cites…
This podcast outline introduces crypto fund manager Tara Mac Aulay and describes her path from early Bitcoin use to running a market-neutral fund. The episode contrasts the host’s bullish macro view with Mac Aulay’s concern that the market may be…
The article compares Japan’s credit-fueled asset boom with crypto market activity, arguing that lending, low borrowing costs, and debt-backed asset creation can direct capital toward speculative markets. It describes Japan’s use of lending quotas, known as…
The article examines Bitcoin’s potential role in diversified portfolios as institutional participation grows. Its central portfolio argument is that assets with low correlations can reduce combined volatility, while correlations may rise during market…
The document argues that Bitcoin is best analyzed as a distinct alternative asset class. It outlines Robert Greer’s three broad asset groups—capital assets, consumable or transformable assets, and stores of value—and places Bitcoin closer to the…
This article describes pulling Deribit account and market data into spreadsheet dashboards through an API integration. Examples include tracking balances across subaccounts, open orders and positions, trades, profit and loss, margin, options Greeks, implied…
The essay compares ways to fund open-source software and applies the tradeoffs to Bitcoin development. It frames reliable maintenance as critical infrastructure work, then considers unpaid volunteers, patronage, commercial services, and protocol-level…
This podcast description outlines how listed companies build Bitcoin treasuries and use capital markets to fund additional purchases. The guest, a capital markets executive at Smarter Web, describes the company’s shift from web services toward a…
This episode connects macroeconomic conditions with crypto and technology markets. The speakers discuss geopolitical tension, high oil prices, inflation expectations, bond volatility, and uncertain central bank policy as pressures on liquidity and risk…
The article describes a proposed shift in crypto market narratives: Bitcoin increasingly behaves like a macro asset and store of value, while Ethereum is framed around applications, including decentralized finance and possible links with artificial…
This podcast announcement summarizes a broad digital asset outlook attributed to a Standard Chartered research executive. It presents a near-term Bitcoin downside scenario alongside more optimistic longer-term price projections, and discusses Bitcoin’s…
This exchange update explains changes to a crypto derivatives portfolio margin framework and distinguishes segregated portfolio margin from multi-currency cross collateral. In the segregated setup, currencies are assessed separately; the planned…
This essay argues that protocol tokens can help crypto projects attract early users, liquidity, and contributors, even when a project does not need extensive governance. It first presents concerns about governance as a security risk, fees as rent extraction,…
The document argues that crypto protocols can become more dependable and widely adopted by limiting governance to areas where human decisions are necessary. It defines credible neutrality as confidence that a protocol will not be changed to favor a…
This document curates seven essays and investor letters that offer different ways to assess Bitcoin. The perspectives include a small long-term allocation based on asymmetric outcomes, Bitcoin as a possible store of value during monetary expansion,…
This report examines how adding bitcoin affected a traditional portfolio over a five-year sample. The base allocation held equities, fixed income, and commodities and was rebalanced quarterly. The authors tested bitcoin weights from 1% to 10%, funding them…