Markets are a set of problems worth taking seriously.
Ferth is a proprietary trading and research firm based in India. We trade our own capital, guided by independent research and disciplined risk management.
Every position reflects the same discipline: a clear thesis, a tested model, and a risk limit set before, not after.
How we workWhat we focus on
The functions a small trading firm actually runs on.
Research
Ideas tested against data and against each other before they're allowed near a market.
Trading & Risk
Turning a thesis into a position, sized to match exactly how much it's earned our conviction.
Technology
The systems that let research and trading happen quickly, correctly, and under control.
How we think
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We trade our own book
No outside capital, no mandates to satisfy — just our own money and our own research, pointed in the same direction.
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Depth over breadth
Every idea is pushed until it breaks or holds. We'd rather be right about a few things than vaguely right about many.
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Measure, don't guess
Decisions are backed by data and by stress-testing an idea against how it could be wrong — not conviction alone.
A problem worth sitting with
An old favourite, and the kind of question we spend our days on.
You flip a fair coin repeatedly. What's the expected number of flips until you see two heads in a row?
There's a slow way to do this (write out every sequence) and a fast way — set up a couple of equations for the expected number of flips from each state you can be in, no heads yet or one head so far, and solve them together.
Show the answer
Six. Let E₀ be the expected flips from "no progress" and E₁ from "just saw one head." Then E₀ = 1 + ½E₁ + ½E₀ and E₁ = 1 + ½(0) + ½E₀. Solving both gives E₀ = 6.