Portfolio reporting
Portfolio Performance
Live account results, investment research and equity valuation analysis.
Reporting inceptionAugust 2026
Algo Performance Metric
Results from the latest published account snapshot.
As of Loading…
Live Trading Account
Loading reporting-period details…
Performance definitions
The three trade-level ratios give equal weight to each completed trade's percentage return. They do not adjust for trade duration, position size or a risk-free return, and are not annualized portfolio Sharpe or Sortino ratios.
- Trade return / variability
- Mean trade percentage return divided by the population standard deviation of trade percentage returns.
- Trade return / loss magnitude
- Mean trade percentage return divided by the root-mean-square percentage loss among losing trades.
- Trade return gain/loss ratio
- Sum of positive trade percentage returns divided by the absolute sum of negative trade percentage returns. This differs from a profit factor calculated from dollar P&L.
Monthly Performance
Calendar-month account results, beginning August 2026. The latest month is marked month-to-date.
| Month | Return | P&L | Maximum drawdown | Closed trades |
|---|---|---|---|---|
| Loading monthly account history… | ||||
Calculation methodology
Loading the recorded return methodology…
Equity research
Research Candidates
Up to 5 individually qualified candidates on each side.
Loading research publication…
Long research
Long Candidates
| Rank | Company | Recorded price | Model estimate | Value / price gap | Risk indicator | Evidence score |
|---|---|---|---|---|---|---|
| Loading verified research candidates… | ||||||
Short research
Short Candidates
| Rank | Company | Recorded price | Model estimate | Value / price gap | Risk indicator | Evidence score |
|---|---|---|---|---|---|---|
| Loading verified research candidates… | ||||||
Selection and interpretation
Ranks use 50% valuation, 30% risk and 20% evidence within the qualified screen, with a $126 recorded-price ceiling and at most two companies per sector on each side. A smaller list reflects the individual requirements and diversification limits. The full trading basket also has universe-coverage and basket-size requirements.
The value / price gap is the conditional model estimate divided by the recorded price, minus one. It is not a realized or expected investment return. Higher risk indicators reflect greater measured accounting and price risk; an evidence score measures input completeness, not the probability that an estimate is correct.
Research lists do not authorize orders. Trading eligibility is checked separately. After the stated eligibility deadline, the dated list remains available as archived research and requires a new screen before it can be treated as current.
Published basket history
Research Return Tracker
Reference returns require a separately verified, complete monthly basket.
Basket publication dateLoading…
Long basket
UnavailableLong Reference Basket
| Rank | Ticker | Company / sector | Reference entry | Current | Estimated net return |
|---|---|---|---|---|---|
| Loading published research status… | |||||
Short basket
UnavailableShort Reference Basket
| Rank | Ticker | Company / sector | Reference entry | Current | Estimated net return |
|---|---|---|---|---|---|
| Loading published research status… | |||||
Combined estimated net reference return: UnavailableResearch returns are estimates after documented distributions and assumed costs. They are separate from live-account performance.
Open Positions
Positions and market values from the latest account snapshot.
| Time | Account | Ticker | Side | Strategy | Quantity | Entry | Latest price | Return |
|---|---|---|---|---|---|---|---|---|
| Loading open positions… | ||||||||
Execution History
Recorded broker fills, with matched entries and exits.
| Time | Account | Ticker | Side | Strategy | Quantity | Entry | Exit | Return |
|---|---|---|---|---|---|---|---|---|
| Loading execution history… | ||||||||
Portfolio Activity
Publications
Research Library
Investment ideas, market analysis and valuation methods.
Loading publications…
Company analysis
Equity Valuation
Search published company reports. Examine financial inputs, valuation assumptions and the evidence supporting each estimate.
Reports show their observation dates and identify calculations that cannot be supported by the available inputs.
Contact
Research enquiries
For discussion of published research and methodology.
Disclosures
This website is for research and informational purposes only. Nothing on this website constitutes financial, investment, legal, or tax advice.
Spinoza Research is a private research initiative and is not a registered investment adviser. Nothing herein is an offer to sell or a solicitation to buy any security or investment product.
Live-account results and hypothetical research estimates are identified separately. Past performance does not guarantee future results.