---
type: monthly-letter
status: draft
month: YYYY-MM
author: Dennis Elgegren
---

# Monthly Letter — <MONTH>

**1,500-2,500 words. Fund-style. Numbers first, attribution honestly, one thematic section.**

## 1. Numbers

| Metric | Value |
|---|---|
| Return MTD | ... |
| Return YTD | ... |
| Vol (ann.) | ... |
| Sharpe | ... |
| Sortino | ... |
| Max DD (peak-to-trough) | ... |
| Hit rate | ... |
| Avg win | ... |
| Avg loss | ... |
| Best trade | ... |
| Worst trade | ... |

## 2. Attribution

By correlation bucket and by trade. Compare to the prior month's positioning thesis.

## 3. What was wrong

Honest. This is the credibility signal.

## 4. Positioning

What you hold now, with reasons. What's the book expressing?

## 5. Thematic section (one only)

A deeper piece — one idea, fully developed. Not a market recap.

## 6. Outlook

Next month's key events, key risks, key levels.

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**OpenTimestamps hash:** `pending`