Loading the section
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.
279 articles · 1119 glossary entries · 12 courses
Most read
Sections
- Investing basicsWhere an account begins: the broker, the depository, the first trade, and what separates investing from speculation.229 articles
- StocksWhat owning a share of a business means, where the price comes from, and how ordinary shares differ from preferred ones.4 articles
- BondsCoupon, duration, put dates and yield to maturity — and why a bond's price falls when rates rise.2 articles
Courses: articles in a meaningful order
- 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.
Investor's glossary
Latest
- Moscow Exchange close: October 8, 2026The Moscow Exchange close on October 8 (Thursday): the MOEX Russia Index, market breadth, daily turnover, leaders and laggards among liquid stocks, and the nearest dividend record dates.Market wraps
- Moscow Exchange close: October 7, 2026The Moscow Exchange close on October 7 (Wednesday): the MOEX Russia Index, market breadth, daily turnover, leaders and laggards among liquid stocks, and the nearest dividend record dates.Market wraps
- The secondary market for DFAs: why the asset never leaves its own platformA DFA can be sold before redemption only inside the platform where it was issued, and only through an exchange operator listed in the Bank of Russia register. Why the asset cannot be moved to another operator, how selling it differs from placing an order in a bond's order book, and what the sale changes in the purchase limit and in the tax.