TradeAlmanac Journal: how the Russian market actually works
Explainers, an investor's glossary and courses on the Moscow Exchange, SPB Exchange, bonds, dividends, taxes and macroeconomics. Every number in an article is pulled from the TradeAlmanac database rather than typed in by hand, so it does not go stale.
187 articles · 1109 glossary entries · 12 courses
Most read
Go to the section →Sections
All articles →- Investing basicsWhere an account begins: the broker, the depository, the first trade, and what separates investing from speculation.34 articles
- StocksWhat owning a share of a business means, where the price comes from, and how ordinary shares differ from preferred ones.17 articles
- BondsCoupon, duration, put dates and yield to maturity — and why a bond's price falls when rates rise.12 articles
- DividendsHow payouts work: the record date, the dividend policy behind the number, and what yield actually tells you.7 articles
- Funds: ETFs and Russian BPIFsHow an exchange-traded fund differs from a mutual fund, where the fee comes from, and what tracking error means in practice.7 articles
- DerivativesFutures, options, initial margin and variation margin — the mechanics, not the advice.8 articles
- Currencies, gold and commoditiesThe rouble exchange rate, precious metals and commodity markets: what moves them and how they can be accessed.5 articles
- Financial statementsHow to read Russian accounting standards and IFRS reports, where to find them, and which numbers deserve trust.5 articles
- Fundamental analysisValuation multiples, profitability, leverage — and the traps built into each of them.11 articles
- Technical analysisWhat charts and indicators show, and what they never show.6 articles
- MacroeconomicsThe key rate, inflation, GDP and the rouble: how decisions at the Bank of Russia reach your portfolio.16 articles
- Taxes and the Russian IIAIncome tax on dividends and trades, the third-generation individual investment account, long-term ownership relief and loss offsetting.12 articles
- Market infrastructureMoscow Exchange, SPB Exchange, the central counterparty, the depository and clearing — who is responsible for what.12 articles
- Risk and portfolioVolatility, drawdown, beta, diversification — and what none of them reveal.7 articles
- StrategiesHow portfolios are built: indexing, dividend income, value, growth and rebalancing.11 articles
- Investor psychologyWhy decisions turn out differently from the plan: fear of missing out, loss aversion, herding.8 articles
- Global marketsHow the Russian market connects to markets abroad, what foreign indices measure, and where access limits begin.4 articles
- Crises and market historyWhat markets have already been through, which mechanisms repeat, and which episodes were genuinely one of a kind.2 articles
- TradeAlmanac toolsThe terminal, watchlists, the screener, portfolios and the paper-trading account.3 articles
Courses: articles in a meaningful order
All courses →- A dividend strategyHow payouts work, what a dividend policy really promises, and why a record yield in the screener is a warning rather than an invitation.6 steps · about 75 min
- Bonds from scratchCoupon, accrued interest, duration, put options and yield to maturity — everything needed to compare two issues and not sleep through a put date.7 steps · about 80 min
- Derivatives without illusionsFutures, options, margin and expiry: how the contracts work, what the money is debited for every evening, and why leverage hurts even when the forecast is right.9 steps · about 95 min
- First steps for an investorWhere to start: how an exchange works, what a lot and an order book are, how to measure return honestly, and why diversification is not thirty stocks from one market.6 steps · about 60 min
- Funds: how to choose and not overpayHow an exchange-traded fund differs from an ETF, what is actually inside one, what the fee buys and how closely a fund really follows its index.6 steps · about 65 min
- How market infrastructure worksWhere your securities actually sit, who guarantees settlement, why one security has several prices, and what happens on delisting.8 steps · about 80 min
- How to read financial statementsFrom two accounting standards to cash flow: where to look, what to trust, and why profit is an accountant's opinion while cash flow is a bank statement.5 steps · about 90 min
- Macroeconomics for investorsHow a rate decision reaches the price of a security, why the wording of the signal matters more than the decision itself, and what the yield curve says about the future.7 steps · about 95 min
- Risk and decisionsHow risk differs from price movement, why the length of a drawdown matters more than its depth, and which thinking errors cost the most.7 steps · about 85 min
- Shares: from choice to decisionHow share types and tiers differ, what a share issue does to your stake, how to read issuer news, and which checklist to run before buying.8 steps · about 100 min
- Taxes for investorsWhat is taxed and when, why less arrives than was announced, what long holding gives you and when you have to file a return yourself.8 steps · about 95 min
- Technical analysis: what it can and cannot doThe candle, levels, moving averages, volume and overbought indicators — what each one actually measures and where its applicability ends.7 steps · about 65 min
Investor's glossary
Open the glossary →Latest
All articles →- A first portfolio: what it is assembled fromNot a list of securities but an order of decisions: proportions first, then instruments, and only then specific tickers.Investing basics
- How to measure your portfolio's return honestlyThe difference between opening and closing balances credits the portfolio with growth that came from contributions.Strategies
- Corporate liquidity: how it differs from solvencyThe ability to pay now and the ability to repay at all are different properties, and the first kills more often.Fundamental analysis
- The government bond market: who is in it and whyThe finance ministry borrows, banks and funds buy, and a private investor gets the reference point for everything else.Bonds
- How to tell investing from fraudFive signs, any one of which is enough to stop. None requires financial knowledge.Investing basics
- Saving and investing: different jobs, different instrumentsPreserving and growing are not degrees of the same thing but opposite requirements of an instrument.Investing basics