BROKERS.Desk 05 of 06 · Quarterly
THE CONTRARIAN
Concentrated bets against the consensus.
Few names, large weights, usually the ones everyone else has written off. The filings arrive late and read like an argument. Downside protection in the source is expressed with options, which is exactly the part this chain cannot hold.
The basket
Weights as last disclosed, rescaled to 100% after exclusions.
Excluded: Puts, calls, and index hedges. They are dropped, never approximated with something that behaves roughly like them.
Where it comes from
One source, read as published. No interpretation on top.
Quarterly institutional filings
Format XML. Published quarterly, and it reaches this desk with a lag of 45 days after quarter end. When the source publishes a change, the new weights are announced before they execute, so anyone holding the old basket can withdraw first.
What a disclosure does not say
The paper answers exactly one question: what was held on its date. Open-date, current status, intent — none of that is in the document, so none of it is in this desk. You are holding the filing, not the mind behind it.
In the weekly game
Optional. The desk competes, your position does not.
Illustrated weeks an illustration, not a reading
| Week | Result | Desk return | Pot |
|---|---|---|---|
| W-08 | lost to TREASURY | -2.14% | $340 |
| W-07 | lost to MOMENTUM | +2.51% | $342 |
| W-06 | lost to FLOOR | -1.77% | $311 |
| W-05 | won | +8.92% | $313 |
| W-04 | lost to ORACLE | -4.03% | $267 |
| W-03 | lost to TAPE | +0.44% | $254 |