The story

Every feature here started as a problem I couldn’t solve

Anchorfolio didn’t start in a meeting room. It started with a local fund charging 3.6%, four broker logins, and a Python script that told me to buy the wrong thing for months.

Bucharest, RomaniaStarted 2024Built by one person

Summer 2024

The fee arithmetic

I started where most Romanian investors start: a local broker and a high-fee fund. The prospectuses took a few nights to read properly. The part that stuck was the arithmetic — a 10% gain is not a 10% gain once the TER, the dividend tax and the commissions have taken their share.

Work it out in the calculator

Comparison 01 · The fee trap

Traditional mutual fund3.60% TER

Replicating the index yourselfdepends on your numbers

The second row has no single figure — dividend tax, CASS and commissions depend on your balance, your yield and how often you buy.

Autumn 2024

Four logins and a spreadsheet

Then came ETFs, and with them a second broker, then a third. One for BVB, one for US stocks, and a Google Sheet trying to keep up with the EUR/RON rate. It was accurate on the day I updated it and wrong every day after.

Comparison 02 · Fragmented data

BVB broker

US broker

Google Sheet

EUR/RON

Net worth?

Checking your net worth shouldn’t be a part-time job.

Spring 2025

The script that didn’t break

I wrote a script that read BVB and told me what to buy to hold my replication. For months I bought what it told me to buy, convinced everything was fine. Nothing failed loudly, so nothing prompted me to check. I hadn’t even reached tax season, gains in several currencies, and local rules worked out by hand. I had nothing to declare yet, and the tools were already working against me.

replicate.py · output · march 2025

$ python replicate.py

fetching BVB weightsok

computing target ordersok

BUY TLV42

BUY SNP310

BUY H2O8

done. no errors.

NO ERRORS ≠ CORRECT

The ancestor of replication tracking

BVB changed one small detail, and the script didn’t crash — it kept answering, wrongly, for months.

2026

What the mistakes became

Every one of those problems is now a feature, and that is the whole design brief. Drift grading exists because a script can be wrong quietly. The tax report exists because April was harder than the investing. Journeys exist because “total portfolio value” never answered the question I actually had.

What each chapter became

03Replication drift grading

01Cost calculator, with your numbers

02One portfolio, every broker

03Declarația Unică report

Who builds it

A financial product needs real people behind it.

Anchorfolio is built by Radu Sielecki in Bucharest, from his own workflows: tracking a BVB portfolio, comparing ETF and fund costs, and working out net dividends.

Anchorfolio

Founder

Radu Sielecki

Before it was a product, Anchorfolio was a folder of spreadsheets and Python scripts I used to understand my own investments. The numbers that mattered most — real cost, dividend tax, CASS — were the hardest to see at a glance. It’s the tool I wanted.

Trust

Should a financial tool ask for blind trust?

No. Here’s what you can verify.

First-hand experience

Built around workflows we actually encountered investing from Romania.

Verifiable methodology

The assumptions behind every calculation are visible, and you can change them.

No return promises

Anchorfolio helps you understand decisions; it doesn’t predict markets.

No custody. No money movement.

Your investments stay with your broker. Anchorfolio cannot hold or move your funds.

Private by design

Your portfolio is never public or sold to advertisers. Data is stored in the Netherlands on encrypted disks, transmitted over HTTPS, and access is limited to what is required to operate Anchorfolio.

Content on Anchorfolio is educational and informational. It is not financial, tax or investment advice. Contact us

Today it’s a product.

No manual arithmetic. No broken spreadsheets. Anchorfolio does the boring work, so you can decide what to do next.

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