Kalmanon Capital
Systematic Trading.
Research Driven.
Hypotheses earn their seat.
Nothing else stays.
Research serves the book. Ideas that survive friction remain; the rest are cut.
Kalmanon treats research as a selection discipline. A signal is not valuable because it is elegant; it earns a place only after it has survived defined tests, implementation friction, and the possibility that the effect is temporary or absent.
Market domains.
The desk studies different market structures without pretending that one data language fits them all. Sports, digital assets, and event markets remain separate research domains with their own calendars, liquidity conditions, and failure modes.
- Sports structures Competition and match structures · calendar-led
- Digital assets Liquid perpetuals · continuously traded
- Event markets Prediction venues · discrete outcomes
Constraints before ambition.
A model enters the book only inside an explicit operating envelope: risk capacity, available liquidity, execution quality, and the limits of the data are considered before expected return.
Optimization Framework
minimize
Σ wi xi
subject to
- risk
- liquidity
- execution constraints
Risk
Exposure, drawdown, and venue posture bind the book. Hypotheses do not rewrite the kill conditions.
The framework is deliberately conservative about what a result can authorise. Research can propose a test; it cannot waive sizing, liquidity, drawdown, or execution controls.
Precision in measurement, curiosity in research, and rigour in review keep the desk from confusing activity with evidence.
- Precision
- Curiosity
- Rigor