From idea to outcome
How an idea becomes a strategy.
Every strategy follows the same path, from a first idea to live trading. Each step has an owner and a written record.
Investment process
From idea to live trading
Every strategy goes through the same steps before it trades.
01 / 04
01
Idea and research
A hypothesis about why some stocks are mispriced. Ideas come from academic research, market data and corporate events like mergers, spin-offs and index changes.
02
Build and backtest
Analysts build the strategy and test it on years of historical data, including trading costs.
03
Independent review
Someone who didn't build the strategy tries to break it. If the evidence holds up, the investment committee decides whether it moves on to trading.
04
Paper and live trading
Before a strategy trades, we write down the results that would count as a pass or a fail. Approved strategies trade on paper first, then with capital, under fund-wide risk limits.
Who does the work
Analysts inside the process
Student analysts do the research, build the strategies and monitor them once they trade.