About

I'm Santiago, a finance professional based in Montevideo, Uruguay, with over a decade of experience in fund operations, audit, and risk management across multiple jurisdictions including the US, Cayman Islands, BVI, and Latin America.

My career started at EY, where I built a foundation in audit and financial reporting. From there I moved into fund administration at Apex Group and Winterbotham Trust Company, where I worked across hedge funds, private equity, and real estate structures. Later I joined DI Group and expanded into independent consulting through Adjusted by Risk.

I hold a CPA, a Master in Finance from Universidad Austral Argentina, and have completed both parts of the FRM (Financial Risk Manager) designation. I work in English, Spanish, Portuguese, and French.

Why systematic trading?

After years of working inside funds — seeing how institutional money is managed, what works, and what doesn't — I became convinced that systematic, rules-based approaches to investing offer a structural edge over discretionary methods. Not because humans are irrational, but because consistency and discipline are genuinely hard to maintain at scale without a system.

This site is my public laboratory. The Portfolio Experiment is real money, real trades, and real accountability. The Research section is where I work through ideas before implementing them. The Reading List is what shaped my thinking.

Beyond finance

I'm a marathon runner. The discipline, pain tolerance, and long-term thinking that endurance sports require map almost perfectly onto systematic trading. You train consistently, trust the process, and let compounding do its work — whether in fitness or in returns.