Correspondence
Letters to principals.
We write rarely, and only when the water has moved. The letters below are released in sequence. Principals are encouraged to read them in order; the duck is not.
I · Cycle IV, Q1
On the Construction of the Duck Index
A methodology note, in which we are mostly reasonable.
II · Cycle IV, Q2
Seasonal Effects in Pond Liquidity
Temperature, migration, and the Q4 drawdown nobody wanted to discuss.
III · Cycle IV, Q3
A Correction Regarding Methodology
In which the council clarifies who, precisely, computes the index.
IV · Cycle IV, Q3
On Breadcrumbs as a Store of Value
A sovereign reserve thesis. Peer-reviewed by one peer.
V · Cycle IV, Q4
[Redacted]
Released in part. The annex is available to verified principals.
Also in the library
Monographs & white papers.
Longer works for principals with longer evenings.
Monograph XIV
Bathymetry of Liquidity
A taxonomy of venues by depth, current, and the likelihood of a surprise heron.
Download (PDF) →Monograph XIII
Duration Without Apology
A defence of the long cycle, delivered at a dignified pace.
Download (PDF) →White paper
A Unified Theory of Pond Dynamics
Sixty-three pages. Peer-reviewed by a peer. The peer was a duck.
Download (PDF) →