Research
Independent quantitative research from the Leviathan team — equity write-ups, factor model construction, and the methodology behind our screens.
-
applying
Applying the Beneish M-Score Without Common Mistakes
A deep-dive explainer on Applying the Beneish M-Score Without Common Mistakes: methodology, historical context, worked examples with real numbers, and common pi
-
dcf
DCF Intrinsic Value: A Working Walkthrough on a Real Ticker
A deep-dive explainer on DCF Intrinsic Value: A Working Walkthrough on a Real Ticker: methodology, historical context, worked examples with real numbers, and co
-
building
Building the Fama-French Five-Factor Model From Scratch
A deep-dive explainer on Building the Fama-French Five-Factor Model From Scratch: methodology, historical context, worked examples with real numbers, and common
-
garch(1
GARCH(1,1) Volatility Forecasting for Single-Name Equities
A deep-dive explainer on GARCH(1,1) Volatility Forecasting for Single-Name Equities: methodology, historical context, worked examples with real numbers, and com
-
kelly
Kelly Criterion for Position Sizing in Equity Portfolios
A deep-dive explainer on Kelly Criterion for Position Sizing in Equity Portfolios: methodology, historical context, worked examples with real numbers, and commo
-
monte
Monte Carlo Methods for Portfolio Return Distributions
A deep-dive explainer on Monte Carlo Methods for Portfolio Return Distributions: methodology, historical context, worked examples with real numbers, and common
-
owner
Owner Earnings: Buffett's Method for Cash-Based Valuation
A deep-dive explainer on Owner Earnings: Buffett's Method for Cash-Based Valuation: methodology, historical context, worked examples with real numbers, and comm
-
beneish
Beneish M-Score: A Guide to Earnings Manipulation Detection
An exhaustive deep dive into the Beneish M-score, its eight underlying variables, historical accuracy, and its application in modern equity research.