Calchas Research
Working papers and research notes on behavioural finance and quantitative strategy.
May 2026
The Commoditisation of Truth
How AI and technology have commoditised data, analysis, and interpretation in finance — and why behaviour is the only edge that remains.
April 2026
US Money Centre Banks — Sector Deep Dive
A sector analysis examining the US money centre banks, covering fundamental positioning, behavioural dynamics, and key drivers of relative performance.
April 2026
AAII x NAAIM Study
An empirical study examining the interaction between retail investor sentiment (AAII) and active manager positioning (NAAIM) as a composite signal for tactical market timing.
April 2026
Macro Sentiment Edge Study
An empirical study examining the alpha-generating potential of macro sentiment signals in quantitative strategy.
March 2026
The Behavioral Finance Shaped Hole
Why the finance industry has largely ignored decades of behavioural research — and what a systematic approach to closing that gap actually looks like.