Coming soon
conviction-edge
Conviction Edge
Derivatives.
Not open for allocation.
Conviction Core · Indian equities
The thesis is published before the trade.
One forensic-first book of Indian small, micro and select mid caps. The accounts are read for trouble first — before the story, before the screen, before anything is bought.
Every name in the book carries a written thesis, and that thesis is published before the order goes. That ordering is the whole point: it removes the option to tidy up the reasoning after the price has moved. Names are held months to years, until the thesis breaks.
The book as it stands
Core is live
Positions
11
Each with a written, published thesis
Cash weight
50.16%
Against a 10% target — explained below
Baskets
1 of 4 live
Core is open; Edge, Global and Pulse are not
Minimum allocation
₹5,00,000
A modelling floor, not a sales gate
Composition of Conviction Core. Every figure is point-in-time — it moves with the market and with the book. Book value is not disclosed on this page. No figure here is a return, a projection, or a track record.
The baskets
One is live. Three are being built.
Each basket is its own book with its own mandate. Only Conviction Core is open today — the other three are named, not available, and cannot be allocated to.
Live
conviction-core
Conviction Core
Indian small, micro and select mid caps. Forensic-first: the accounts are read for trouble before the story is entertained. A written thesis per name, published before the trade, held until it breaks.
Read the mandate
Coming soon
conviction-global
Conviction Global
US-listed equity, accessed via LRS.
Not open for allocation.
Coming soon
conviction-pulse
Conviction Pulse
Systematic momentum.
Not open for allocation.
How it works
Four steps. Nothing is placed without you.
You keep your own broker account and your own money. Capital is never pooled with anyone else’s, and no order reaches the market until you have approved that exact order.
You
Connect your own broker
Your existing account, in your name. Nothing new to open, nothing to transfer. Access is granted by a single-use invite code that stays valid for 30 days.
Both
Sign the agreement
A separate legal agreement is signed through DocuSign before anything starts. Nothing is connected and nothing is placed until it is done.
You
Approve the exact order set
You see the precise orders — name, side, quantity, limit — alongside the published thesis, before anything happens. No approval, no order.
Platform
Orders go through your broker
Approved orders are placed through your own connected broker via API — only the set you approved, exactly as you approved it. Money never pools.
Composition, not performance
The book is half in cash. Deliberately.
Cash sits at 50.16% against a 10% target. That is a state, not an accident: capital is deployed when a name clears the gates and held when nothing does.
Deployed vs cash — actual against target
Deployed equity
Cash
Model target
Cash — actual50.16%
Cash — target10.00%
Cash — drift+40.16 pp
Equity deployed — actual49.84%
Equity deployed — target90.00%
Equity deployed — drift−40.16 pp
Point-in-time composition of Conviction Core. Deployed equity is the combined micro, small and mid cap weight. Nothing here is a return figure.
Why this is shown, and not hidden. A book carrying half its weight in cash is a long way from its own model. Micro, small and mid are all under their targets today. That is worth saying plainly rather than cropping out.
Cash is treated as a position, not as residue. It is held when no name clears the forensic gates, when liquidity fails, or when the risk already on the book is full — and every one of those is written down as a named reason. It is not held because nobody looked.
The same discipline runs the other way: idle capital is a cost too, and cash above target has to be justified each time, not assumed.
| Bucket | Target | Target share |
|---|---|---|
| Micro cap | 20.0% | 20.0% of target book |
| Small cap | 42.5% | 42.5% of target book |
| Mid cap | 27.5% | 27.5% of target book |
| Cash | 10.0% | 10.0% of target book |
Model targets for Conviction Core. These are the weights the book aims at — not the weights it holds today.
The minimum
Why ₹5,00,000 — and why it is not a sales gate
Shares are indivisible, so a small account cannot hold the model’s weights. At ₹2,00,000, a single share of the smallest position is about 0.7% of the book against a 1.36% target — roughly 50% tracking error on that one line, before anything else goes wrong.
Below the minimum, rounding swamps the model and you would not be holding the book that was written about. That is the entire reason for the floor.
Access
Invite only. Start with a conversation.
Entry is by single-use invite code, valid for 30 days. There is nothing to pay on this page and no broker account to connect here.
The form below needs a code. If you do not have one yet, write to ca.who.codes@proton.me — that is the route in, and it is where the conversation starts.
What happens after you submit
Your account is created in an unverified state. You can read the book and the published theses — but no broker account can be connected, and no order can be prepared for you, until onboarding is completed and the separate agreement is signed through DocuSign.
- No payment details are requested here
- No broker credential or password is requested here
- We contact you before anything is connected
- You can stop at any point — nothing is committed
Questions before you submit?
ca.who.codes@proton.meRisk
Read this part slowly.
You can lose part or all of the money you commit. Equities carry the risk of
permanent capital loss. Small and micro caps carry it most: they are thinner, more volatile,
and a position can become hard to exit at any sensible price.
A thesis can simply be wrong — written carefully, published in advance, and still wrong. A concentrated book of small and micro caps will draw down, sometimes sharply. The process here is built to manage that risk and to say out loud when it is being taken. It does not abolish it, and nothing about it makes a loss less real.
Nothing on this page is investment advice or a recommendation to buy or sell any security. No return is promised, projected, or implied anywhere on this site. Every figure shown is point-in-time. Decide for yourself, and take independent professional advice where you need it.