Graham Whitlock

Graham covers the parts of trading that come down to arithmetic: how to read a set of accounts, what a valuation multiple does and does not tell you, how to work out whether an edge in a trade log is real or noise, and how correlated positions turn six trades into one. The guides show the calculation on the page so readers can check it rather than take it on trust.

Graham also acts as second reader on every guide Ellis writes, and Ellis does the same for Graham’s, so nothing is published on the site with only one pair of eyes on it.

What Graham covers

• Fundamental analysis
• Stock metrics and valuation
• Dividends
• Trading costs
• Expectancy and position sizing
• Backtesting
• Correlation and portfolio construction

How the guides are written

Every guide on the site is held to the same four rules: explain the mechanism behind a pattern or method, not only its shape; give real space to the conditions under which it fails; describe behaviour qualitatively where a statistic cannot be sourced rather than inventing one; and put the arithmetic on the page so you can check it. The full editorial policy sets out how content is produced and corrected, and the contact page is the fastest route to getting an error fixed.

Graham works alongside Ellis Hartley, editor, and each reads the other's guides before publication.