I’ve collected all my work and activity on one page. Please check it out and let me know if you think something is missing: antonvorobets.com
#quant #quantsky #finance #markets #python #investing #investment #riskmanagement #risk #portfolio #data #machinelearning #artificialintelligence
#quant #quantsky #finance #markets #python #investing #investment #riskmanagement #risk #portfolio #data #machinelearning #artificialintelligence
Anton Vorobets – Portfolio Construction & Risk Management
Author of the Portfolio Construction and Risk Management book and developer of the Fully General Investment Framework (FGIF).
antonvorobets.com
October 27, 2026 at 1:47 PM
I’ve collected all my work and activity on one page. Please check it out and let me know if you think something is missing: antonvorobets.com
#quant #quantsky #finance #markets #python #investing #investment #riskmanagement #risk #portfolio #data #machinelearning #artificialintelligence
#quant #quantsky #finance #markets #python #investing #investment #riskmanagement #risk #portfolio #data #machinelearning #artificialintelligence
Carillion went into liquidation. The public services it provided could not.
The company’s debts stayed in insolvency. The responsibility to maintain services survived.
www.jonknowles.com/2026/10/resi...
#carillion #institutionalfailure #residualliability
The company’s debts stayed in insolvency. The responsibility to maintain services survived.
www.jonknowles.com/2026/10/resi...
#carillion #institutionalfailure #residualliability
// FGIF-014 : RESIDUAL LIABILITY
When Carillion collapsed, its public services had to continue. FGIF-014 examines residual liability: the obligation that survives a provider’s exit.
www.jonknowles.com
October 24, 2026 at 5:23 AM
Carillion went into liquidation. The public services it provided could not.
The company’s debts stayed in insolvency. The responsibility to maintain services survived.
www.jonknowles.com/2026/10/resi...
#carillion #institutionalfailure #residualliability
The company’s debts stayed in insolvency. The responsibility to maintain services survived.
www.jonknowles.com/2026/10/resi...
#carillion #institutionalfailure #residualliability
Good morning happy FGIF ☕️❤️
October 22, 2026 at 6:14 AM
Good morning happy FGIF ☕️❤️
Good morning FGIF ☕️ ❤️
October 16, 2026 at 5:22 AM
Good morning FGIF ☕️ ❤️
The licences, the workforce, the infrastructure, the obligations: all at the base of the structure. The distributions, the management fees, the intercompany interest: moving upward.
Extraction Settlement - what the arrangement is called
www.jonknowles.com/2026/10/extr...
Extraction Settlement - what the arrangement is called
www.jonknowles.com/2026/10/extr...
// FGIF-017 : EXTRACTION SETTLEMENT
How a layered ownership structure separates financial benefit from service obligations - and how the regulatory framework that governed Thames Water for two decades acknowledged, too late, that it had permitted this.
www.jonknowles.com
October 18, 2026 at 2:45 PM
The licences, the workforce, the infrastructure, the obligations: all at the base of the structure. The distributions, the management fees, the intercompany interest: moving upward.
Extraction Settlement - what the arrangement is called
www.jonknowles.com/2026/10/extr...
Extraction Settlement - what the arrangement is called
www.jonknowles.com/2026/10/extr...
Good morning FGIF😀
October 16, 2026 at 5:19 AM
Good morning FGIF😀
The Home Office issued an apology for Windrush. Wendy Williams found it had then closed the recommendation requiring fundamental institutional change. The apology was treated as sufficient. www.jonknowles.com/2026/10/subs...
#Windrush #HomeOffice #FieldGuide #InstitutionalFailure
#Windrush #HomeOffice #FieldGuide #InstitutionalFailure
// FGIF-022 : SUBSTITUTION OF CONSEQUENCE
When the response to what happened to people is permitted to stand for the response to what produced the conditions that put them there.
www.jonknowles.com
October 13, 2026 at 5:31 AM
The Home Office issued an apology for Windrush. Wendy Williams found it had then closed the recommendation requiring fundamental institutional change. The apology was treated as sufficient. www.jonknowles.com/2026/10/subs...
#Windrush #HomeOffice #FieldGuide #InstitutionalFailure
#Windrush #HomeOffice #FieldGuide #InstitutionalFailure
The Post Office Horizon inquiry couldn't investigate prosecutions. Then the Court of Appeal quashed 39 convictions. The terms changed. The evidence hadn't. FGIF-020: Process Foreclosure, in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/10/proc...
www.jonknowles.com/2026/10/proc...
// FGIF-020 : PROCESS FORECLOSURE
The deliberation was genuine. The range was not. Two specimens: a court that cannot substitute its own determination, and an inquiry whose terms were redrawn.
www.jonknowles.com
October 5, 2026 at 5:38 PM
The Post Office Horizon inquiry couldn't investigate prosecutions. Then the Court of Appeal quashed 39 convictions. The terms changed. The evidence hadn't. FGIF-020: Process Foreclosure, in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/10/proc...
www.jonknowles.com/2026/10/proc...
UKSV recommended denial. The Prime Minister later said he would not have proceeded if he had known. He was not told. The evidence existed. It just went elsewhere. FGIF-012: Evidential Containment, in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/10/evid...
www.jonknowles.com/2026/10/evid...
// FGIF : 0012 - EVIDENTIAL CONTAINMENT
The evidence existed. It was retained, circulated, reviewed. It did not reach the locus at which it could have become consequential. The routing is the mechanism.
www.jonknowles.com
October 4, 2026 at 5:25 AM
UKSV recommended denial. The Prime Minister later said he would not have proceeded if he had known. He was not told. The evidence existed. It just went elsewhere. FGIF-012: Evidential Containment, in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/10/evid...
www.jonknowles.com/2026/10/evid...
Parliament published the Register of Member’s Interests. For a decade you couldn't search it, combine it or analyse it across Members. The entries were there. The architecture wasn’t.
// FGIF-010 : TRANSPARENCY WITHOUT INTELLIGIBILITY
The disclosure register reads COMPLETE AND CURRENT. The burden of assembly, relation and interpretation has been transferred to the recipient. Nothing has been withheld.
www.jonknowles.com
October 3, 2026 at 2:02 PM
Parliament published the Register of Member’s Interests. For a decade you couldn't search it, combine it or analyse it across Members. The entries were there. The architecture wasn’t.
The goggles are labelled UTTERLY OPAQUE. They are visibly transparent. The contradiction is between what is observable and the institutional description you are permitted to act on. FGIF-006 : Implausible Deniability, in the Field Guide to Institutional Failure.
// FGIF-006 : IMPLAUSIBLE DENIABILITY
When the institution knows what the actor can deny knowing, the denial may be accurate and the arrangement still implausible. Two specimens, two production routes.
www.jonknowles.com
September 26, 2026 at 5:43 AM
The goggles are labelled UTTERLY OPAQUE. They are visibly transparent. The contradiction is between what is observable and the institutional description you are permitted to act on. FGIF-006 : Implausible Deniability, in the Field Guide to Institutional Failure.
FGIF-005: Terminal Statement. The outcome was reported. The process disappeared. A term for when a true statement that a process has ended gets read as proof the underlying problem is resolved.
// FGIF-005 : TERMINAL STATEMENT
The outcome was reported. The process disappeared. How a true statement that something has ended can be allowed to stand for something being resolved.
www.jonknowles.com
September 24, 2026 at 4:23 AM
FGIF-005: Terminal Statement. The outcome was reported. The process disappeared. A term for when a true statement that a process has ended gets read as proof the underlying problem is resolved.
Responsibility can move without being discharged.
Every transfer may be recorded. Every recipient may be responsible for something. And still, authority and accountability can end up in different places.
FGIF-004: Accountability Transfer
#Accountability #InstitutionalFailure #FGIF
Every transfer may be recorded. Every recipient may be responsible for something. And still, authority and accountability can end up in different places.
FGIF-004: Accountability Transfer
#Accountability #InstitutionalFailure #FGIF
// FGIF-004 : ACCOUNTABILITY TRANSFER
How institutions can transfer responsibility through valid processes until authority and accountability cease to coincide.
jonknowles.com
September 22, 2026 at 5:20 AM
Responsibility can move without being discharged.
Every transfer may be recorded. Every recipient may be responsible for something. And still, authority and accountability can end up in different places.
FGIF-004: Accountability Transfer
#Accountability #InstitutionalFailure #FGIF
Every transfer may be recorded. Every recipient may be responsible for something. And still, authority and accountability can end up in different places.
FGIF-004: Accountability Transfer
#Accountability #InstitutionalFailure #FGIF
FGIF-008: Procedural Alibi. The procedure was followed. The purpose was not. A term for the moment a completed process gets promoted into proof of something it never actually established.
// FGIF-008 : PROCEDURAL ALIBI
The procedure was followed. The purpose was not. How a completed process can substitute for the substance it was meant to verify, without anyone cutting a corner.
www.jonknowles.com
September 16, 2026 at 4:36 AM
FGIF-008: Procedural Alibi. The procedure was followed. The purpose was not. A term for the moment a completed process gets promoted into proof of something it never actually established.
FGIF-002: Pre-Clearing Question. The evidence existed. The question excluded it. A term for inquiries built narrow enough that true, visible evidence never gets a chance to matter.
www.jonknowles.com/2026/09/pre-...
www.jonknowles.com/2026/09/pre-...
September 7, 2026 at 5:47 AM
FGIF-002: Pre-Clearing Question. The evidence existed. The question excluded it. A term for inquiries built narrow enough that true, visible evidence never gets a chance to matter.
www.jonknowles.com/2026/09/pre-...
www.jonknowles.com/2026/09/pre-...
You can find all the case studies here: antonvorobets.substack.com/t/case-studies
Quantamental Investing | Anton Vorobets | Substack
Applied quantamental investment management using the Fully General Investment Framework (FGIF) from the Portfolio Construction and Risk Management book. Click to read Quantamental Investing, by Anton ...
antonvorobets.substack.com
September 4, 2026 at 2:16 PM
You can find all the case studies here: antonvorobets.substack.com/t/case-studies
The decision will appear to concern the case. It concerns the object already constituted. FGIF-034 / Institutional Preconstitution — Field Guide to Institutional Failure.
www.jonknowles.com/2026/09/inst...
www.jonknowles.com/2026/09/inst...
September 2, 2026 at 5:18 AM
The decision will appear to concern the case. It concerns the object already constituted. FGIF-034 / Institutional Preconstitution — Field Guide to Institutional Failure.
www.jonknowles.com/2026/09/inst...
www.jonknowles.com/2026/09/inst...
FGIF-000: Constitutive Institutional Power. The rules were followed. The world they applied to was already built. The mechanism behind every other entry in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/08/cons...
www.jonknowles.com/2026/08/cons...
August 29, 2026 at 5:05 PM
FGIF-000: Constitutive Institutional Power. The rules were followed. The world they applied to was already built. The mechanism behind every other entry in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/08/cons...
www.jonknowles.com/2026/08/cons...
FGIF-001: Sequencing Lie. A term for outcomes settled before the process meant to determine them has run. No document has to be false. First entry in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/08/sequ...
www.jonknowles.com/2026/08/sequ...
August 27, 2026 at 4:55 AM
FGIF-001: Sequencing Lie. A term for outcomes settled before the process meant to determine them has run. No document has to be false. First entry in the Field Guide to Institutional Failure.
www.jonknowles.com/2026/08/sequ...
www.jonknowles.com/2026/08/sequ...
ANY ONE WANT TO ORDER PIZZA 🍕 FGIF!
Friday night was always pizza nite. 😎‼️
Friday night was always pizza nite. 😎‼️
The EVIL GOPPEDO way! They are nothing but REPUBLICUNTS and RepublKKKicans!
If tRUMP et al are unjustly accused then simply RELEASE ALL UN REDACTED Epstein Files & prove it to the world once & for all! 🤨
August 21, 2026 at 10:41 PM
ANY ONE WANT TO ORDER PIZZA 🍕 FGIF!
Friday night was always pizza nite. 😎‼️
Friday night was always pizza nite. 😎‼️
Probably! Rest if the 'review' is all pretty tongue in cheek but well done. www.facebook.com/share/p/FgiF...
Redirecting...
www.facebook.com
September 5, 2024 at 6:12 AM
Probably! Rest if the 'review' is all pretty tongue in cheek but well done. www.facebook.com/share/p/FgiF...
... and to find all GrantID's from a specific funder, this one should do the trick: fgif-tool.streamlit.app Looking through these various IDs really highlights the inconsistency in how funding IDs are structured, and the lack of a unique identifier for grants 😅
March 21, 2025 at 10:26 AM
... and to find all GrantID's from a specific funder, this one should do the trick: fgif-tool.streamlit.app Looking through these various IDs really highlights the inconsistency in how funding IDs are structured, and the lack of a unique identifier for grants 😅
👋👣🐾✨💙😎✨FGIF👏👏👏
February 7, 2025 at 3:44 PM
👋👣🐾✨💙😎✨FGIF👏👏👏