Seal
Market notes on futures, geopolitics, and real-world trading.
Recent articles
Budget cuts at Austrian universities, or why the welfare model is doomed to fail
Austria is cutting university spending as social commitments grow. A look at the budget, demographics and the University of Klagenfurt's expenses.
October 20, 2026
22 min read Argentina: Milei's Stabilization and the Cost of Recovery
What happened to Argentina's economy after Javier Milei took office: inflation, the budget, the currency market, trade, labor, and the social cost of reform.
August 25, 2026
7 min read The July Storm, or How a Drawdown Was Sold to You as a Genius's Collapse
How Situational Awareness reportedly lost 67% in July, retained around 80% year-to-date returns, and why liquidating positions doesn't mean liquidating the fund.
August 2, 2026
8 min read Samsung and SK hynix Sold Expectations
China's CXMT, HBM, ordinary DRAM and DUV lithography: why the market hit Korean memory stocks and where the real threat is.
«What really happens doesn't worry me, as long as it looks good on paper»
Musk became the first trillionaire on the SpaceX IPO. I break down the company's fundamentals, why the market paid around two trillion, and how the listing actually hit the exchange — while everyone watched the fireworks.
June 23, 2026
11 min read Monte Carlo Method in Trading
Building a mathematical model for passing an FTMO One-Step prop account through mass random simulation. Profitability threshold, blow-up probability, and the real number of days.
