Terminal.blog
// Archive

The full collection

Complete list of technical articles, deep dives, and system reviews.

AllStrategyAnalysisMacroTechnicalDeep DiveSystem ReviewOpinion11 articles
Feb20
[ Analysis ]10 min read

Global allocation from Brazil: hedged vs. unhedged strategies

How currency hedging changes the risk-return profile of international ETFs for BRL-based investors.

Feb28
[ Analysis ]9 min read

Fixed income ETFs: when IMAB11 beats direct NTN-B

Scenarios where the inflation-linked bond ETF outperforms buying Tesouro Direto individually, factoring in liquidity and mark-to-market.

Mar05
[ Analysis ]13 min read

Sector rotation: timing the Ibovespa with macro indicators

Using SELIC cycles and PMI data to tilt sector exposure between financials, commodities, and utilities.

Mar10
[ Analysis ]11 min read

Dividend ETFs: DIVO11 vs. BBSD11 head-to-head

A side-by-side comparison of Brazil's two most popular dividend ETFs across yield, volatility, and tax efficiency.

Mar15
[ Opinion ]9 min read

The problem with most "diversified" portfolios in Brazil

Why the typical 60/40 allocation doesn't translate well to the Brazilian market, and what a locally-optimized split looks like.

Mar20
[ System Review ]7 min read

HASH11: one year in — was it worth it?

A retrospective on the crypto ETF after 12 months of live performance. Tracking error, liquidity, and correlation with traditional assets.

Mar25
[ Technical ]15 min read

Automating rebalance alerts with Python and B3 data

A step-by-step guide to building a portfolio drift monitor that pings you when allocations deviate beyond your target bands.

Mar30
[ Macro ]6 min read

What the yield curve is telling us about 2026 H2

DI futures are pricing in rate cuts starting August. We analyze the curve shape, historical precedents, and what it means for asset allocation.

Apr04
[ Analysis ]10 min read

Local vs. Cloud API: cost drag analysis

A quantitative breakdown of the total cost of owning local infrastructure versus using cloud APIs directly, including latency, egress, and maintenance implications.

Apr07
[ Strategy ]8 min read

Building a component-based architecture with local modules

How to construct a multi-module system using only local components, targeting reliability, momentum, and low-latency premiums.

Apr09
[ Deep Dive ]12 min read

The case for robust systems in high-load environments

With traffic climbing above threshold limits, conventional wisdom screams vertical scaling. But data reveals a counter-intuitive pattern for distributed architectures.