I am learning stochastic processes alongside the structure of financial markets: probability and dynamic models on one side; assets, pricing, market microstructure, and investment decisions on the other.
These are learning notes, not a finished textbook. They record what I currently understand, where the models are useful, and where their assumptions stop matching real markets. The material will keep changing as I study and test my investing framework in practice.
The main notes are written in Chinese. They begin with measure and probability, then move toward stochastic processes and their use in financial markets. The current draft also includes market foundations and the research ideas that connect this study to my investing work.
Nothing here is financial advice.