# HEDGEFUND.md starters

Every number in a starter is made up. Each one runs as it stands, and each one's limits are set so a run shows at least one limit it goes past. A starter is a shape to fill, not a model portfolio or an allocation.

Get one, replace every number, run check_hedgefund_md after each change and run_book on the result. Format: https://hedgefund.md/spec.md Terms: https://hedgefund.md/terms

## [Example multi-desk book](https://hedgefund.md/starters/multi_desk)

Kind: `multi_desk`. A made-up book of five sleeves: an equity long-short sleeve, a pair, a deal spread, a bond ladder and a small options overlay. The long-short sleeve takes under a third of the capital and most of the variance, which is the thing to look at here. Every number is made up.

## [Example tokenized assets book](https://hedgefund.md/starters/tokenized_assets)

Kind: `tokenized_assets`. A made-up book of tokens: bill tokens, a private credit tape, property, a commodity token and a position borrowed against as collateral. On a screen these can all look calm and liquid. The ladder shows how differently they get back to cash on these numbers, not whether a holder may use any of those routes. Every number is made up.

## [Example trend and rates book](https://hedgefund.md/starters/trend_and_rates)

Kind: `trend_and_rates`. A made-up book of three sleeves: a hypothetical trend walk with a vol target, risk parity and a bond ladder. All three are net long here, so the correlation between them does most of the work. A run shows the correlation at which the volatility limit changes sides. It isn't a system to follow. Every number is made up.

## [Example credit book](https://hedgefund.md/starters/credit_book)

Kind: `credit_book`. A made-up credit book: a list of credits and their spreads, a private loan tape and a sleeve behind a redemption gate. Hypothetical carry is the easy number to read. The tails and the ladder show what it leaves out. Every number is made up.

## [Example digital assets book](https://hedgefund.md/starters/digital_assets)

Kind: `digital_assets`. A made-up digital asset book: cash-and-carry basis, a token's reserves and a token trading away from its NAV. The basis sleeve looks flat on net and large on gross, and its margin leaves the least room when moves are largest. Every number is made up.