■Independent research lab · Albuquerque, NM
505 Analytica manages and produces the research and technology behind these two subscriptions.
■The publications
Macro strategy · Substack
The world’s monetary order is breaking and power is going multipolar. Babylon Burns charts how to win in this regime and runs a live global portfolio doing exactly that. Oil, gold, sovereign debt, currencies and the flows between them.
Dividend investing · Seeking Alpha
The dividend research service Sam runs with his father Robert on Seeking Alpha, built on a motto the two have repeated for years: buy low, sell high, get paid to wait. Members get three model portfolios, weekly Buy, Watch and Sell lists and coverage of a hand picked universe of 100 dividend stocks.
■The lab
Sam Kovacs, Founder
■The founder
Sam Kovacs is a Franco-British macro investor and writer, born in the UK in 1994 and raised between Britain and France. He studied finance at HEC Montréal and took a master’s in economics at Sciences Po in Paris, where he launched his first company from his student flat: an investment research platform on Seeking Alpha. He never had a conventional career, and has lived and worked across twelve countries since.
Most people in finance stay in one layer: retail, institutional or sovereign. Sam’s work cuts across all three. He has published equity research publicly for eleven years, serves as CIO of a systematic macro hedge fund, and has advised sovereign governments on capital and policy. In February 2026 he circulated a report to fund clients concluding that the market was underpricing US military action against Iran, and that the asymmetry favored energy, defense and shipping.
In 2021 he launched The Dividend Freedom Tribe with his father Robert. Babylon Burns is his macro letter, organized around two forces: debasement and multipolar fracture. Every position he publishes is mirrored with his own capital. 505 Analytica is the lab he built to produce both.