Welcome to Two Crows Systematic Investing
#who?
I’m Dale Holborow, a 20+ year professional quantitative finance and contract software dev with a borderline obsessive-compulsive fascination towards stock markets and investing. Once upon a time I earned a Masters Degree, Major in Financial Mathematics with a thesis on improving bond pricing models, though I’m fairly sure neither my mother nor my research supervisor actually read it, despite their promises.
I’ve written software for cybersecurity, supply chain management etc; built liquidity and crisis scenario models in the banking and insurance industries, valued bonds and various derivatives as a financial risk analyst, and spent thousands upon thousands of hours harvesting, cleansing, and massaging financial data for my custom written backtesting and systematic investment ranking engine. Needless to say, I’m a hit at parties…
#what?
The Two Crows Systematic Investing newsletter documents my thoughts on investing, improving performance by using systematic rules and processes, and on the human psychology that so often gets in the way of success. I describe the work involved in building backtesting software for systematic investment strategies, including challenges, interesting discoveries and outcomes along the way.
Starting in 2H 2023, I will also publish long-term, long-only model stock portfolios made up of quality stocks identified by my investment research, so subscribers can join me in a live “play forward“ test to witness their performance.
I might swear occasionally.
#when?
My aim is to write shorter topical or response-to-current-affairs-style notes whenever interesting things are happening in financial markets. Lets call that “ad hoc-but-regularly“.
More quantitative and/or long-form posts should arrive once per week or so. I call these my “one-beer ideas“ — stuff you can read, digest and ponder for about as long as it takes to enjoy a cold beer on a hot summer day. Don’t stress that these will be lengthy essays, I’m a quick drinker.
Portfolio updates will launch in the second half of 2023. My intention is to release these the first Sunday of every month, with each report to contain updates to the model portfolio and ongoing performance track record.
#where?
Well, here, on this website, of course. And in your Inbox. Hopefully not your Spam folder, but please do check if you don’t hear from me in a while.
If you want to meet up and talk “investor-nerd” in person, I’m pro-coffee and pro-beer, so any bar or café in Helsinki, Finland suits.
#why?
I want to publicly document my investment research journey and engage with the investing community, to share lessons I have learned and more as I learn in real time.
If you like what you read, that’s great. If you see something obviously wrong, I want to hear from you so it can be fixed. And if you disagree (assuming you’re not some internet troll jerk) let me know so we can engage in lively banter and debate.
While I don’t know the final destination, the journey should at least be interesting.
** Disclaimer **
I, of course, am NOT a financial advisor and I don't know your personal/financial situation, your appetite for risk, your level of knowledge nor just how screwed you'll be if you take your next month's rent money and impulsively buy stocks based solely on something you read here. So like, don't do that. TCSI will always use information (quantitative and qualitative) and sources believed to be reliable, but accuracy of information and any conclusions drawn therefrom, cannot be guaranteed.
I might (and often will) buy, hold or sell stocks I mention in TCSI (that's kind of the point). I personally invest long-term, long-only, and I may at times utilize moderate leverage. By the very nature of research, I will *definitely* change my opinions on various topics over time... particularly, as they say, "when the facts change".
I invite and encourage you to use TCSI as motivation and inspiration, but please, do your own homework and consult with a qualified, authorized and respectable financial professional. Not one of those shit ones charging high fees. Avoid those ones.
