Building market context
Our approach
From information to decision.
A repeatable eight-stage process connects data, market context, portfolio construction, implementation and continuous review.
Decision architecture
A process designed to challenge itself.
Each stage informs the next, while review can send the process back to any earlier assumption.
01
Decision stage
Data
Market prices, macroeconomic releases, liquidity information, positioning and relevant alternative datasets.02
Decision stage
Context
Understand the current macroeconomic and financial regime.03
Decision stage
Research
Combine fundamental, quantitative and technical evidence.04
Decision stage
Hypothesis
Translate evidence into testable market scenarios.05
Decision stage
Portfolio
Evaluate individual opportunities against overall exposure.06
Decision stage
Risk
Define invalidation, downside, concentration and correlation.07
Decision stage
Implementation
Consider market expression, liquidity and execution.08
Reassessment
Review
Continuously reassess assumptions when conditions change.
Portfolio context
Ideas are evaluated as exposures, not isolated predictions.
Portfolio-level thinking considers how an individual view interacts with existing risk, liquidity, volatility, concentration and plausible scenarios. The process is designed to make those relationships explicit.
- Total and directional exposure
- Cross-asset correlation
- Liquidity and implementation
- Concentration and scenario risk
Risk framework
Risk is part of the strategy, not an afterthought.
Every market view exists within a broader risk framework. Position sizing, concentration, correlation, liquidity and changing volatility conditions are evaluated before and during implementation.
No model eliminates risk. The objective is to understand it, measure it and manage exposure systematically.