The ledger, delivered

This site is a working ledger: one analyst’s record of learning to invest, and to master a craft, kept in public. I work as an institutional buy-side equity analyst covering global equities, and I write here under the name Ka Jun.

The name is the point. Almost everything worth doing looks not worth it at the start: the extra reading, the second trip, the tenth draft. Most people talk about the 80/20 rule: eighty percent of the outcome from twenty percent of the effort. I believe in the 20/80. The eighty percent of effort almost nobody is willing to spend is exactly where the edge lives, in markets and in life. Each entry in the ledger is that effort, recorded.

What you’ll find: real investment research with real numbers, notes written on the ground in places I travel to understand, and honest thinking about process, careers and mastery. No hot takes, no recycled headlines, and never any hurry.

Leave your email below and each new entry will find you when it’s ready.