This is a summary of links recently featured on Quantocracy as of Thursday, 09/24/2026. To see our most recent links, visit the Quant Mashup. Read on readers!
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Tech companies that spend more on capex than their operating cash flow [Quanter Lab]Before the dot-com crash, the telecom companies building the internet's networks spent more on buildings and equipment than their businesses brought in, and borrowed or sold shares to pay the difference. Our thirty-year study of the tech industry found that their spending passed their own cash in 2000, and within two years they had cut it in half. Today's AI giants spend a similar share
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Which Conformal Method Works for Which Alpha Signal? [Delphic Alpha]Conformal prediction is not one technique – it is a family of methods, each with its own strengths and weaknesses. Split Conformal, Mondrian, ACI, CQR – they all produce valid prediction intervals, but they behave very differently depending on the signal you feed them. It is not an implementation detail. On the same alpha signal with the same data, switching from Split Conformal to ACI turns a
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Moving Average Distance: The Technical Indicator That Passed the Cross-Section [Aligrithm]Divide a stock's 21-day moving average by its 200-day moving average. That is the whole signal, and it is about as retail as a signal gets. Avramov, Kaplanski and Subrahmanyam ran it across 13,828 US firms and 1,353,679 monthly returns from July 1977 through December 2018, and the value-weighted hedge portfolio produced an annual alpha of 9.05% against the five Fama-French factors plus
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The Part Time Trader Part 2: The Questions Before the Backtest [Algorithmic Advantage]Part 1 was survival first: start slow, start boring, and treat the early years as skill acquisition rather than a race to 100% a year. This part is the bridge from that idea into the actual research. The subject is relative momentum: rank a universe of stocks by how strongly theyve risen, hold the strongest, and rotate as the ranking changes. It suits a part-time trader almost perfectly. It