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Peak Retail Trading

Uniquely, Alphacution has used this top-down metric over the past few years to monitor relative engagement between retail order flows and institutional order flows in US equities. The latest readings show that retail engagement recently surpassed a former milestone...
By Paul Rowady | March 29, 2026 | Premium Subscribers
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SIG, CitSec, Jane St: Strategy Footprints

This slate of charts didn't make it into the recently published case study, "How Jane Street Generates Alpha." But, they're incremental to the story because they provide incremental insight and context for the three largest US equity (and equity option) market makers, Susquehanna Securities (a key SIG affiliate), Citadel Securities, and key affiliates of Jane Street Group...
By Paul Rowady | March 27, 2026 | Premium Subscribers
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Case Study Introduction: D. E. Shaw’s Strategy Frame

Access the Introduction to Alphacution's latest groundbreaking case study... In this 84-page, 103-exhibit case study - "D. E. Shaw & Co., Inc. - Strategy Frame" - Alphacution presents a new, next-level analysis on one of the most legendary quantitative hedge fund managers of them all: D. E. Shaw & Co. Based on a proprietary version of 13F data that has been jointly developed over years with a stealth-mode data partner, this case study leverages a data sample spanning 50 quarters,...
By Paul Rowady | February 9, 2026 | Open
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Everything All-The-Time US Equitized Market Structure

What are the impacts from delivering tokenized, round-the-clock, frictionless, and highly-gamified trading in a global universe of equitized products - including stocks, options, crypto, political and economic event contracts, sports bets, and a vast array of other exchange-traded products - through a single "killer app" on your mobile device? The world is about to find out... In this Feed post, Alphacution measures the significant changes in US equity market structure during 2025 as backdrop for significant changes ahead...
By Paul Rowady | January 19, 2026 | Premium Subscribers
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Jane Street: China ETF Distortions

The charts and media reports highlighted in this Feed post are all connected to a much bigger story about the source of Jane Street's extraordinary profitability of late. Alphacution is in the process of assembling a uniquely detailed version of that story - including how Jane Street is the most obvious proprietary trading firm to deploy artificial intelligence - but recent reports were worth highlighting ahead of that...
By Paul Rowady | January 19, 2026 | Premium Subscribers
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David E. Shaw’s Strategy Frame, Part II: Isolating S&P 500 Positions, 2013-2025

The are ~800 stocks that have comprised the S&P 500 index over the past 12 years - and ~900 stocks since March 4, 1957. Alphacution has developed a model of the timing of these changes to distill S&P 500 exposures from our case study subjects. The 12 exhibits included in this Feed post showcase the initial, never-seen-before, results of these efforts - and foreshadow the imminent release of our case study on the legendary quant manager, D. E. Shaw &...
By Paul Rowady | January 11, 2026 | Premium Subscribers
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