The Transparency Standard

Here we document data sources, formulas and selected terminal features. The linked pages show where each figure comes from and how it is calculated.

Where something is not yet done, it says so plainly rather than implying otherwise.

• Where do the numbers come from?

  The record covers one real Interactive Brokers account belonging to the founder. The data comes straight from that account: continuously through the broker's interface, and reconciled daily against the broker's account statements (Flex statements). Imported executions are matched by the broker's execution ID.

  See the data-source steps

• Are the losing trades shown too?

  Yes. The Completed trades view shows every completed position of the account with its result after fees, as booked by the broker. Winners and losers appear in the same record.

  Open completed trades

• Can you check the math yourself?

  The methodology documents formulas and data sources. The curve shows account value (NAV); time-weighted returns and risk ratios come separately from the broker's TWR report (IBKR PortfolioAnalyst), with its own stated period and retrieval date.

  Read the formulas

• Do you say when the data is stale?

  Yes. The public portfolio summary shows one overall state: LIVE, STALE or FALLBACK, together with the snapshot's update time. SHADOW is a provider diagnostics mode, not a public state.

  See the data-state machine

• How is research distinguished from actual holdings?

  Field Notes contains published research. Current positions are shown separately in the portfolio, with the snapshot's data status.

  Read Field Notes

• Is any of it dressed up as advice?

  The terminal combines account data with research, notes on individual trades and discussions. Not every item describes an actual trade: scenarios depend on assumptions and contributions reflect their respective authors' views. Content is not tailored to your personal circumstances and may contain errors.

  Read the disclaimer

• How is your payment data handled?

  Checkout runs entirely on Stripe's hosted, PCI-DSS Level 1 infrastructure. Card details are entered on Stripe's servers and never touch ours.

  Read the security notes

• Is there a third-party audit of the track record?

  No. The track record is self-published; there is no external attestation. The data comes straight from the Interactive Brokers account; the formulas and data path are set out in the methodology.