Quant
Finance papers and asset-pricing notes
Boardroom Centrality & Firm Performance — the graph hiding in the director list
Larcker, So & Wang 2013 — link two boards whenever they share a director and the resulting network prices assets. Most-central minus least-central earns 4.68% a year; the predictor is a position, not an accounting line.
/boardroom-centrality-paper -> PaperR&D Investments & Past Returns
Maletic 2019 — the same R&D number means opposite things depending on whether the stock has just won or lost. Level and change interact with past returns in opposite directions.
/rd-investments-paper -> PaperThe Trend in Firm Profitability
Akbas, Jiang & Koch 2017 — every level signal hides a slope signal. Keep the trend coefficient instead of the mean and two equally profitable firms land at opposite ends of the book.
/profit-trend-paper -> PaperOwner's Earnings — Buffett's metric, rebuilt from asset-pricing parts
Vyas 2024 — the profitability literature is one long subtraction and it stopped one line early. Subtract capex and you get Buffett's owner's earnings.
/owners-earnings-paper -> PaperWhen Insiders Trade Less — density and return predictability
Wang, Wang, Chiah & Bai 2025 — condition on the trader, not the trade. Insiders who rarely trade are the ones whose trades carry abnormal returns.
/insider-density-paper -> PaperThe Expected Investment Growth Premium — sorting on the capex a firm is about to do
Li, Wang & Yu 2021 — forecast next year's capex growth instead of measuring last year's and the investment effect changes sign. A committed but unspent outlay is leverage.
/eig-premium-paper ->Poker Trainers
Drills & quizzes for real-table skills
Counting Outs Drill
Practice counting outs across the 9-game mix — Hold'em, Omaha (Hi-Lo), Stud, Razz, and 2-7 Draw. Exact deck-accurate answers, live-card discounting in Stud/Razz, the two-hole-card rule in Omaha, and per-game accuracy tracking.
/outs-drill -> DrillStack Journey
Live stack-tracking the way it happens at the table — action streams one card at a time, no rewinding, and the run never stops. Keep a running count through bets, calls, wins, and losses; gold checkpoints test the number you've been holding. Chips and big-blind modes.
/stack-journey -> QuizPLO Starting Hands
Classify Pot-Limit Omaha hands as premium, speculative, marginal, or trash, then make preflop decisions in a $2/$5 game — built on Jeff Hwang's "Big Play" framework. Two self-grading quizzes with full explanations, rendered poker cards, and a primer on the four tiers and the structural flaws (danglers, top gaps, non-nut draws) that demote a hand. Bilingual: English / ไทย.
/plo-starting-hands -> QuizPLO Post-Flop Situations
32 post-flop decision spots — sets, wraps, nut flush draws, two pair, full houses — where you read the hand, board, and action, then choose your play. Drills the core Chapter-6 skills: don't slow-play monsters, get big draws in, and fold the second-best to pressure. Bilingual: English / ไทย.
/plo-situations -> QuizPLO Hi/Lo Split
24 questions on Pot-Limit Omaha Hi/Lo strategy and starting hands — scoop-or-fold, suited-ace two-way hands, position, "fold the nuts" spots, and which hand values shift from limit. Built on the key concepts from Chapter 9. Bilingual: English / ไทย.
/plo-hilo ->Mixed Games
The rotation games — draw, stud, and lowball
Mixed Game Quizzes
Tutorials and self-grading quizzes for all 14 games in the WSOP mixed-event rotations — Hold'em (NL/Limit), Pot-Limit Omaha, Omaha Hi-Lo, Big O, Stud, Stud Hi-Lo, Razz, 2-7 (single + triple draw), A-5 Triple Draw, Badugi, and 5-Card Double Draw. Pick a game, read the rules, then quiz yourself tournament-ready. Includes a hand-rankings reference for high, A-5 low, and 2-7 low.
/mixed-game-quizzes -> LearnTriple Draw Starting Hands
Pre-draw strategy for Ace-to-Five Triple Draw — the probability of strong starting hands, first-in open ranges by position, 3-bet/call/fold responses, BB defense, and facing a 3-bet, all on log-scaled charts and tables. Then a self-grading quiz, plus a keep-or-toss draw drill across A-5, 2-7, and Badugi that grades every discard against the optimal play.
/triple-draw-hands -> PokerBadugi Tutorial
Rules, strategy, and hand rankings for Badugi — a four-card lowball draw game.
/badugi ->Deuce-to-Seven Analysis
Equity, class tables and the game tree for 2-7 triple draw
2-7 Triple Draw EV Calculator
Win, tie and equity for a deuce-to-seven spot, with the three draws actually played out rather than frozen at showdown — so a pat eight and a live one-card draw are priced against each other honestly. Then the part a hold’em calculator has no room for: what the hand can still become, priced side by side with three, two and one draw remaining. Holding 5-4-3-2, the nut is 19.3% away with three draws and only 8.5% with one. The last-draw column is exact by enumeration; the evaluator is the same 7,462 classes as the table below. Runs in a worker, no server.
/deuce-ev -> Table2-7 Class Equity Table
All 7,462 deuce-to-seven value classes — rank multiset plus flush flag — each with its exact percentile equity against a uniform random hand. Built by full enumeration of all 2,598,960 five-card hands, no sampling. Filter by category and ranks, page through the table, and read the equity distribution histogram; median sits at 0.500. Generated by poker-bot equity-json.
2-7 Triple Draw — True Game Tree
The exact public game of heads-up fixed-limit 2-7 Triple Draw: every betting line, every discard count, nothing truncated. Click outcomes and draw cells to walk a line, then switch lenses to watch each abstraction merge the true game — terminal lines, decision points, and infosets at 50 buckets — with the history class your line collapses into shown per row. An abstraction ladder from the true game to a solvable one, counts exact by enumeration. Generated by poker-bot tree-json.
Hand Review
Sessions graded against a published framework
Tabular CFR
Counterfactual Regret Minimization on Kuhn poker
CFR Simulation
Watch a poker bot learn Kuhn poker from scratch via vanilla Counterfactual Regret Minimization. Includes a glossary and live math walkthrough.
/cfr-simulation -> CFR+CFR+ on Kuhn Poker
Floor cumulative regret at zero and use weighted strategy averaging — converges roughly an order of magnitude faster than vanilla CFR. Tammelin, 2014.
/cfr-plus -> DCFRDiscounted CFR
Discount past regret and strategy contributions with α/β/γ weights. The modern default for tabular CFR. Brown & Sandholm, 2019.
/dcfr -> MCCFRExternal Sampling MCCFR
Sample a single chance outcome per iteration instead of walking all 6 deals. Trades variance for speed. Lanctot et al., 2009.
/mccfr -> SamplingMCCFR Variants
Side-by-side comparison of Chance, External, and Outcome sampling — three ways to sample the tree, one clear winner in practice.
/mccfr-variants -> MetricsConvergence Metrics
Exploitability, average-strategy distance, and other indicators of how CFR approaches Nash equilibrium.
/convergence-metrics ->Scaling Up: Leduc Hold’em
From Kuhn toward No-Limit
Leduc Hold'em — Tabular CFR
One rung above Kuhn — 6 cards, public board, two betting rounds. Same CFR algorithm; converges to ε < 10 mbb/g in seconds. The standard research stepping stone toward NLH.
/leduc-cfr -> Leduc-NLLeduc-NL — Custom Bet Sizes
Same Leduc engine, but bets come from a menu of pot fractions (½ pot, pot, 2× pot, all-in). Action abstraction at toy scale — the first place the NL bet-sizing problem actually appears.
/leduc-nl-cfr -> ResolverLeduc-NL Re-solver
Pick a spot, pick a custom bet menu (with sizes that don't exist in the blueprint), click solve. Watch the strategy and EV change. The architecture Pluribus and DeepStack run every decision — at toy scale.
/leduc-nl-resolver -> ConceptCard Isomorphism
Why suits don't matter (until they do) and how poker solvers exploit suit symmetry for a free 24× speedup. Includes an interactive canonicalizer — type any hand+board and see its equivalence class size live.
/isomorphism ->Neural & Deep CFR
Replacing the regret table with a network
Deep CFR Explained
Conceptual walkthrough of how CFR drops its lookup table for a neural-network function approximator — and why that lets it scale beyond toy games.
/deep-cfr-explained -> Deep CFRDeep CFR on Kuhn Poker
Tabular regret tables replaced by a neural network. Same convergence guarantees, no per-info-set bookkeeping. Brown, Lerer, Gross, Sandholm — ICML 2019.
/deep-cfr -> DeepStackLeduc DeepStack — Value Network
Train a small MLP to predict round-2 counterfactual values, replacing the blueprint entirely. Compare neural-net predictions against an exact CFR solver. Validates DeepStack-style depth-limited solving at toy scale.
/leduc-deepstack -> EngineInside postflop-solver
Code walk through the open-source Rust NLH solver that the author claims beats PioSOLVER and GTO+. Customized DCFR (α=1.5, β=0, γ=3, with a power-of-4 strategy reset), no card abstraction, SIMD-tuned. ~10k lines.
/postflop-solver ->Needs Review
Built but not yet verified against the source
These pages are complete and usable, but their contents have not yet been checked against the source material — numbers, hands, or boards may contain transcription errors. Do not rely on them until reviewed. Once verified against the book, they graduate to the section above.
Personal Notes
Study notes — not authoritative
These are personal study notes written while learning. They have not been peer-reviewed, cite no primary measurements, and may contain mistakes or oversimplifications. Do not cite these as a source. For anything load-bearing, follow the linked papers and original references inside each note.
Systems & Tooling
Software architecture studies & reverse-engineering notes
Coding for Researchers
Short lessons on building software without the infrastructure
Music
Tools for music notation and input
Further Reading
External resources worth your time