Research, Commentary & Education

Data-driven perspectives on systematic investing, risk management, and market dynamics from Blackworks Capital.

Systematic Investing

The Engine Room: How Systematic Strategies Are Built, Backtested, and Deployed

Behind every algorithmic trading decision is a process. Not a guess, not intuition, not an idea shouted across a trading floor. A disciplined, ...


                        
                        • 6 min read

Systematic Investing

The ...


                          
                          • 5 min read

Systematic Investing

A 25% annual return means nothing in isolation. Was it earned on a smooth ride or through stomach-churning ...


                          
                          • 9 min read

Systematic Investing

The financial industry venerates size. A $50 billion AUM figure reads as a badge of competence. Investors ...


                          
                          • 5 min read

Systematic Investing

Every market movement—whether a sudden crash or a sustained rally—is the product of multiple forces acting ...


                          
                          • 3 min read

Systematic Investing

September 2008. A portfolio manager looks at their statement: 60% stocks, 40% bonds. Diversified by the ...


                          
                          • 5 min read