Our Hi(Story)

We were born in 'kitchen-mode' in 1987.
Our workspace has changed quite a bit for the better, but we still have that home warmth.

1984

Born in the kitchen

At the beginning it was only family. José Manuel Bolívar, his four sons (still at college) while mum was keeping accounts, all working in grandpa’s wallpapered kitchen.

1985

Technology, please run faster!

A Sinclair Spectrum computer was connected to the New York and Madrid stock exchange markets. Later came an IBM AT, the latest trend at that time. We moved as fast as technology allowed us. But we were impatient. So we created ways to receive and automate data, such as adding an 'acoustic coupler' to a conventional phone.

1987

As bad as the industry

The small family wealth was invested in Chicago’s stock exchange reasonably well. There were gains… but also losses. Then came the catharsis. We personally learnt two vital things: you have to preserve capital and acquire knowledge to be better than the industry. ETS is founded.

1988

Sending a recommendation before going to school

For more than ten years, we told our clients what to buy every day, often before attending school. It was the time for one year R&D projects, trading models, and a daily Trends Identification Service sent by fax.

We didn’t get a penny for our salary but we worked really hard. We were in it for the sake of learning, building a family business and fun!

1992

Teaching for learning

By then we had devoured every article or book we could. We travelled to the USA to attend seminars and courses. Digested and expanded, we shared this new knowledge by teaching professionals of almost every institution (still in grandpa’s chalet). Our first statistical stock selection model was developed, evolving to quant analysis when nobody in Spain and very few people in Europe had yet sunk their teeth into it.

1994

After the gale. Internationalization

A crisis in 1994. Another crisis in 1996/1997. Only ten people in the business to face them, but the boat withstood. The business model changed from the intra-day on the phone to long performance portfolio management with a management fee. We now have international clients who apply our algorithmic investment methodologies.

1999-2013

Complexity made easy

In a brand new office, we started to grow. Specialised mathematicians, engineers, developers and investment professionals got on board. We became responsible for the whole product and were able to build systematic investment strategies from scratch. All that complexity, however, was summarised in a daily email to our clients with our recommendations.

2013-TODAY

Technology at last ran faster

Machine Learning, Artificial Intelligence, Data Science… we are no longer hampered by technology, but boosted. Now the environment, the competitors, the relentless technical and scientific discoveries... everything pushes us to keep exploring the Fintech possibilities. And we are really okay with that.

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