(2) The maximum concentration in any given security is 20%.
Is there any limit to exposure to a single market sector?
For instance, if your algorithm chooses to invest in 10 different pirate bonds you will have less than 20% in any given security but still 100% exposure to Pirates's default.
This is a great point. Right now no, there is no sector filter - but I will definitely consider adding this soon since it's a great idea.
However, regarding Pirate: I have already filtered out all assets that are associated with his operations. If you want pirate exposure, you'll have to invest elsewhere. Nothing against him personally, it's just that I don't know or understand what he is doing.