Professor — Department of Administrative Sciences
Université du Québec en Outaouais (UQO), Gatineau — Pavillon Alexandre-Taché
Professor in the Department of Administrative Sciences at Université du Québec en Outaouais (UQO). Research in financial econometrics, commodity markets, monetary policy announcements, high-frequency finance, volatility modelling, textual analysis, and financialization. Completing a Ph.D. in Business Administration (Finance and Insurance) at Université Laval under the supervision of Prof. Marie-Hélène Gagnon and Prof. Gabriel J. Power. Alongside academic work, builds native macOS applications focused on AI and local LLMs (the Zyquo suite) and open-source web platforms for financial and housing-market analytics.
Professor — Department of Administrative Sciences
Université du Québec en Outaouais (UQO), Gatineau
Courses in real-estate valuation (IMM1003 — Éléments d'évaluation immobilière; IMM1033 — Méthodes du coût); applied research in hedonic pricing and housing-market measurement (UQO Working Paper Series).
Lecturer
Université Laval, Québec City
Capital Markets, Financial Econometrics I, Financial Management, and Financial Theory at the undergraduate and graduate levels.
Teaching Assistant
Université Laval, Québec City
Portfolio Management, Corporate Finance (undergraduate & graduate), Financial Strategies & Policies I, and Financial Theory.
Ph.D. in Business Administration (Finance and Insurance)
Université Laval — supervisors: Prof. Marie-Hélène Gagnon & Prof. Gabriel J. Power
Thesis: Three Essays on High-Frequency Return and Volatility Dynamics in Commodities and Financial Futures Markets (188 pages).
M.Sc. in Business Administration (Finance)
Université Laval
Thesis: Impact of Commuting Times on Residential Property Values: Evidence from the Province of Québec.
B.B.A. in Business Administration (Finance)
Université Laval
Speculative Trading in Energy Markets: Evidence from Macroeconomic Surprises
Boucher, S.-P., Gagnon, M.-H., & Power, G. J. — The Energy Journal
1.Speculative Trading in Energy Markets: Evidence from Macroeconomic Surprises
Revised version published in The Energy Journal (2025)
2.Seeing Through the ETF: Indicative NAV and Commodity Volatility Transmission
Submission version, Journal of Futures Markets
3.Returns and Volatility Around FOMC Announcements: A High-Frequency Analysis of Policy Tone and Novelty
Manuscript, 2026
WP 2Decoding Real Estate Descriptions: Semantic Embeddings and Hedonic Pricing of Residential Properties in Quebec
Sentence-transformer embeddings of listing descriptions added to hedonic models of 17,087 Quebec houses — adjusted R² lifted from 0.452 to 0.511. 53 pages.
WP 3Hedonic Housing Price Models for the United States: A Multi-Method Comparison of Parametric, Quantile, and Machine Learning Approaches
OLS, quantile regression, and XGBoost + SHAP compared on 788,842 Zillow listings covering all 50 states and DC. 60 pages.
WP 5Airbnb, Residential Rents, and Housing Market Pressure: A Hedonic and Spatial Econometric Analysis
Hedonic, spatial, quantile, and ML evidence from 8,303 Quebec rental listings and 3,456 Airbnb listings — each active Airbnb within 500 m associated with ≈0.4% higher asking rent. 51 pages.
WP 7The Options-Implied Information Content for Cross-Asset Return and Volatility Prediction: Evidence from 3.8 Billion Option Contracts
Options-implied moments forecast returns and volatility on 264,383 ticker-days (69 tickers, 2010–2025); a kurtosis long/short strategy delivers a Sharpe ratio of 2.33. 29 pages.
WP 9A Grand Hedonic Model of the Canadian Housing Market: Decomposing the Value of Structure and Location
140,931 MLS listings with 1,153 neighbourhood (FSA) fixed effects — location alone adds ≈30 points of R²; 15.8% median absolute error out of sample. 26 pages.
WP 10The Assessment Gap in Quebec: Vertical and Horizontal Inequity in Municipal Property Valuation
First province-wide audit of property-assessment equity in Canada — 522,769 sales matched to the assessment rolls; 99% of municipalities fail the IAAO uniformity standard. 29 pages.
WP 11Half a Million Prices, Twenty Models: A Systematic Assessment of Hedonic Specifications and Estimation Methods for the Quebec Housing Market, 2021–2026
Controlled horse race of 20 hedonic models on 514,212 roll-matched sales — spatial controls are first-order (~10 pp of MdAPE); machine learning's edge under random validation reverses under a forward-in-time split. 23 pages.
Has Financialization Changed the Impact of Macro Announcements on U.S. Commodity Markets?
SSRN Working Paper
Modelling Volatility Dynamics Between Commodity ETFs and Their Net Asset Value using BVAR and HAR Models
Working Paper
Returns and Volatility Around FOMC Announcements: A High-Frequency Analysis of Policy Tone and Novelty
Working Paper
CRREP Research Day
Canadian Economics Association — 61st & 62nd Annual Conferences
7th Winter Workshop on Commodity Markets — Mont-Tremblant
| Code | Course | Material |
|---|---|---|
| IMM1003 | Éléments d'évaluation immobilière — foundations of real-estate appraisal: market analysis, comparison and income methods | 14 lecture decks, 3 practical assignments with Excel templates, course plan |
| IMM1033 | Méthodes du coût — cost approach to valuation: land value, replacement cost, depreciation analysis | 14 lecture decks, 3 practical assignments, Québec real-estate market report |
| Code | Course | Level | Terms |
|---|---|---|---|
| GSF-3100 | Capital Markets | Undergraduate | F2021, W2021, F2022, W2023 |
| GSF-6053 | Financial Econometrics I | Graduate | W2022, W2025 |
| GSF-1500 | Financial Management | Undergraduate | S2022 |
| GSF-6028 | Financial Theory | Graduate | W2024 |
Complete open course material on GitHub — LaTeX Beamer slides (13 GSF-3100 decks; 11 GSF-6053 session decks + Stata labs), and the full GSF-6053 W2025 edition: lecture slides, 11 sets of typed notes, 7 formal proofs, and 14 exercise sets with complete solutions.
| Code | Course |
|---|---|
| GSF-2101 | Portfolio Management |
| GSF-2102 | Corporate Finance |
| GSF-6008 | Corporate Finance (graduate) |
| GSF-6025 | Financial Strategies & Policies I |
| GSF-6028 | Financial Theory |
Zyquo Cloud — native macOS chat client supporting multiple AI providers (Anthropic, OpenAI, and more) in a single unified…
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Zyquo Local — run large language models entirely on-device with Apple MLX
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Zyquo Agent — an autonomous AI agent that can act on your Mac: tool calling, task automation, and multi-step workflows
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Zyquo Atlas — a web browser built around AI from the ground up: page understanding, summarization, and assisted browsing
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Zyquo MLX — fine-tune and quantize models directly on Apple Silicon: LoRA/QLoRA fine-tuning, quantization, and model…
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Zyquo Router — a local gateway that routes requests across LLM providers and local models through a single unified endpoint
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OS Vault — self-custody multi-chain crypto wallet for macOS — one phrase, six chain families (11 EVM chains, Bitcoin,…
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Metrika — stata-class statistics for macOS, GPU-accelerated by Apple Silicon — native Swift 6, DuckDB engine, MLX/Metal…
git.spboucher.ai/metrika
Forge Studio — native macOS cockpit for the Forge LLM training framework — SwiftUI dashboard with live loss charts, run…
git.spboucher.ai/forge-studio
VQuant — claude-powered financial analysis platform: 265+ market-data endpoints, a quantitative Python engine (Monte…
www.vquant.ai
AI Risk Index — the transparent, task-based AI job-exposure index — 923 occupations scored from 18,796 O*NET tasks by a…
www.airiskindex.io
CoinExplorer — self-hosted blockchain explorer for stablecoins and major crypto — 24 chains, free public RPCs only, zero API…
www.coinexplorer.io
LLM Index — discriminative, contamination-resistant, live LLM ranking — IRT 2PL and Bradley–Terry scoring across 12…
www.llmindex.io
Lou-Ka — independent rental-listing aggregator for Quebec: one dedicated connector per property manager normalizes…
www.lou-ka.com
Vrai-Prix — a no-black-box property valuation engine covering 3.7 million Quebec properties and 745,119 real sales —…
www.vrai-prix.com
ValoPlex — quebec's specialized plex valuation engine: 393,867 multi-unit buildings and 1.7 million doors valued with a…
www.valoplex.com
QHPI — a production-grade economic-measurement platform computing hedonic, hierarchically pooled housing price…
www.indexqc.house
HF Market Data — an open high-frequency market data platform: a full-history FirstRate downloader, a 26.5-billion-row…
www.hfmarketdata.io
HFChart — a high-frequency financial charting platform where every pixel is drawn by hand on a 2D canvas — 14 chart…
www.hfchart.io
Tendril — a scrape-and-map API running on a residential Mac in real WebKit — Safari's actual engine — with fully…
www.ten-dril.com
KHAELOR — a terminal-native autonomous coding agent that designs before it implements and verifies before it claims…
www.khaelor.sh
SPB Git — a complete, self-hosted GitHub equivalent built for a single owner: streamed Git Smart HTTP hosting, a…
git.spboucher.ai
SPB Drive — a self-hosted Google Drive / Dropbox replacement for one person: content-addressed storage with free dedup, a…
drive.spboucher.ai
SVGarden — a static-first library of 74 self-contained SVG + CSS animations across 14 categories, each with a live…
www.svgarden.dev
Forge — LLM training from scratch in pure C++20 + Metal on Apple Silicon — no PyTorch, no MLX, no ML dependencies
git.spboucher.ai/forge
AIR — LLVM-style compiler infrastructure for accounting: LLMs emit economic events, a deterministic compiler…
git.spboucher.ai/air
Ultra-Sharp Agent Skills — research-first skill-authoring system plus 72 production-ready SKILL.md skills for AI agents — documents,…
git.spboucher.ai/ultra-sharp-agent-skills
Neural Networks Book — artificial Neural Networks — Methods, Equations and Graphical Representations
git.spboucher.ai/artificial-neural-networks-book
Zyquo Cloud Web — multi-provider AI chat (12 providers, 170 models) that runs entirely in your browser
www.zyquo.cloud
PhD Thesis — phD thesis (Université Laval) — Three Essays on High-Frequency Return and Volatility Dynamics in Commodities…
git.spboucher.ai/phd_thesis
UQO Course Material — course material for UQO — Éléments d'évaluation immobilière (IMM1003) and Méthodes du coût (IMM1033): Beamer…
git.spboucher.ai/uqo_cours_public
spboucher.ai — the source of this very site — Next.js 16 App Router, Tailwind CSS v4, shadcn/ui, and Framer Motion, with…
www.spboucher.ai
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