@font-face { font-family: "Inter"; src: url("fonts/inter.woff2") format("woff2"); font-weight: 300 800; font-display: swap; }
@font-face { font-family: "Instrument Serif"; src: url("fonts/instrument-serif.woff2") format("woff2"); font-style: normal; font-display: swap; }
@font-face { font-family: "Instrument Serif"; src: url("fonts/instrument-serif-italic.woff2") format("woff2"); font-style: italic; font-display: swap; }

:root {
  --ink: #0b0f14;
  --ink-2: #131a22;
  --ink-3: #1c2530;
  --paper: #f6f4ef;
  --paper-2: #ecE8df;
  --line: rgba(11, 15, 20, .1);
  --line-light: rgba(255, 255, 255, .14);
  --text: #0b0f14;
  --muted: #5b6470;
  --muted-light: rgba(255, 255, 255, .66);
  --accent: #ff6a3d;
  --accent-ink: #1a0b05;
  --glacier: #9cc7ff;
  --radius: 18px;
  --wrap: 1200px;
  --sans: "Inter", ui-sans-serif, system-ui, -apple-system, "Segoe UI", Roboto, sans-serif;
  --serif: "Instrument Serif", ui-serif, Georgia, serif;
  --ease: cubic-bezier(.2, .7, .2, 1);
}

*, *::before, *::after { box-sizing: border-box; }
html { scroll-behavior: smooth; -webkit-text-size-adjust: 100%; }
body {
  margin: 0; background: var(--paper); color: var(--text);
  font: 400 17px/1.6 var(--sans); letter-spacing: -.005em;
  -webkit-font-smoothing: antialiased; text-rendering: optimizeLegibility;
}
img { max-width: 100%; display: block; }
a { color: inherit; }
h1, h2, h3 { text-wrap: balance; margin: 0; font-weight: 600; letter-spacing: -.035em; line-height: 1.05; }
h2 { font-size: clamp(2.1rem, 4.6vw, 3.6rem); }
h1 em, h2 em, .band__quote em { font-family: var(--serif); font-style: italic; font-weight: 400; letter-spacing: -.01em; }
p { margin: 0 0 1em; }
.muted { color: var(--muted); }
:focus-visible { outline: 2px solid var(--accent); outline-offset: 3px; border-radius: 6px; }
section[id] { scroll-margin-top: 72px; }

.wrap { width: 100%; max-width: var(--wrap); margin: 0 auto; padding: 0 clamp(16px, 4vw, 40px); }
.section { padding: clamp(80px, 12vw, 150px) 0; position: relative; }
.section__head { max-width: 760px; margin-bottom: clamp(40px, 6vw, 72px); }
.section__head h2 { margin-bottom: .45em; }
.section__head--row { max-width: none; display: flex; justify-content: space-between; align-items: end; gap: 24px; flex-wrap: wrap; }
.section__lead { font-size: 1.15rem; color: var(--muted); max-width: 620px; }
.eyebrow {
  display: inline-flex; align-items: center; gap: 10px; margin-bottom: 18px;
  font-size: .78rem; font-weight: 600; letter-spacing: .14em; text-transform: uppercase; color: var(--muted);
}
.eyebrow::before { content: ""; width: 22px; height: 1px; background: currentColor; }
.eyebrow--light { color: var(--muted-light); }

/* Buttons */
.btn {
  display: inline-flex; align-items: center; gap: .55em; padding: .9em 1.4em; border-radius: 999px;
  font-weight: 600; font-size: .98rem; text-decoration: none; letter-spacing: -.01em; white-space: nowrap;
  border: 1px solid transparent; transition: transform .25s var(--ease), background .25s, color .25s, border-color .25s;
}
.btn:hover { transform: translateY(-1px); }
.btn span { transition: transform .25s var(--ease); }
.btn:hover span { transform: translateX(3px); }
.btn--accent { background: var(--accent); color: var(--accent-ink); }
.btn--accent:hover { background: #ff7f58; }
.btn--ghost { color: #fff; border-color: rgba(255, 255, 255, .35); backdrop-filter: blur(8px); background: rgba(255, 255, 255, .06); }
.btn--ghost:hover { border-color: #fff; background: rgba(255, 255, 255, .12); }
.btn--light { background: #fff; color: var(--ink); }
.btn--sm { padding: .6em 1.1em; font-size: .9rem; }
.btn--lg { font-size: clamp(1rem, 2.4vw, 1.2rem); padding: 1em 1.6em; }

/* Nav */
.nav { position: fixed; inset: 0 0 auto; z-index: 50; color: #fff; transition: background .35s, box-shadow .35s, color .35s; }
.nav__inner { display: flex; align-items: center; justify-content: space-between; height: 72px; }
.nav.is-scrolled { background: rgba(246, 244, 239, .86); backdrop-filter: saturate(160%) blur(14px); color: var(--ink); box-shadow: 0 1px 0 var(--line); }
.nav.is-scrolled .btn--light { background: var(--ink); color: #fff; }
.brand { display: inline-flex; align-items: center; gap: 10px; text-decoration: none; font-weight: 500; letter-spacing: -.02em; font-size: 1.08rem; }
.brand b { font-weight: 700; margin-left: .22em; }
.brand__mark { width: 28px; height: 28px; }
.nav__links { display: flex; align-items: center; gap: 30px; }
.nav__links a:not(.btn) { text-decoration: none; font-size: .95rem; font-weight: 500; opacity: .82; transition: opacity .2s; }
.nav__links a:not(.btn):hover { opacity: 1; }
.nav__toggle { display: none; background: none; border: 0; color: inherit; width: 44px; height: 44px; padding: 0; cursor: pointer; position: relative; }
.nav__toggle span { position: absolute; left: 11px; right: 11px; height: 2px; background: currentColor; border-radius: 2px; transition: transform .3s var(--ease), top .3s var(--ease); }
.nav__toggle span:first-child { top: 17px; }
.nav__toggle span:last-child { top: 25px; }
.nav.is-open .nav__toggle span:first-child { top: 21px; transform: rotate(45deg); }
.nav.is-open .nav__toggle span:last-child { top: 21px; transform: rotate(-45deg); }

/* Hero */
.hero { position: relative; min-height: 100svh; display: flex; flex-direction: column; justify-content: flex-end; color: #fff; background: var(--ink); overflow: hidden; isolation: isolate; }
.hero__bg {
  position: absolute; inset: 0; z-index: -1;
  background:
    linear-gradient(90deg, rgba(11, 15, 20, .55) 0%, rgba(11, 15, 20, .15) 55%, rgba(11, 15, 20, 0) 75%),
    linear-gradient(180deg, rgba(11, 15, 20, .55) 0%, rgba(11, 15, 20, .05) 30%, rgba(11, 15, 20, .15) 55%, rgba(11, 15, 20, .92) 100%),
    url("img/hero.webp") center 35% / cover no-repeat;
  transform: scale(1.06); animation: hero-in 2.4s var(--ease) forwards;
}
@keyframes hero-in { to { transform: scale(1); } }
.hero__content { padding-top: 140px; padding-bottom: 40px; }
.pill {
  display: inline-flex; align-items: center; gap: 10px; padding: 8px 14px 8px 12px; margin-bottom: 28px;
  border: 1px solid var(--line-light); border-radius: 999px; background: rgba(11, 15, 20, .35); backdrop-filter: blur(10px);
  font-size: .85rem; font-weight: 500;
}
.dot { width: 8px; height: 8px; border-radius: 50%; background: var(--accent); box-shadow: 0 0 0 4px rgba(255, 106, 61, .25); }
.hero__title { font-size: clamp(3rem, 9.5vw, 8rem); line-height: .95; letter-spacing: -.05em; margin-bottom: 28px; text-shadow: 0 2px 40px rgba(0, 0, 0, .25); }
.hero__title em { color: #fff; }
.hero__lead { font-size: clamp(1.05rem, 1.8vw, 1.3rem); max-width: 600px; color: rgba(255, 255, 255, .84); margin-bottom: 36px; }
.hero__cta { display: flex; gap: 12px; flex-wrap: wrap; }
.hero__foot { display: flex; justify-content: space-between; align-items: center; gap: 24px; padding-top: 28px; padding-bottom: 32px; border-top: 1px solid var(--line-light); margin-top: 40px; }
.ticker { list-style: none; margin: 0; padding: 0; display: flex; flex-wrap: wrap; gap: 8px 28px; font-size: .9rem; color: var(--muted-light); }
.ticker li { display: flex; align-items: center; gap: 10px; }
.ticker li::before { content: ""; width: 5px; height: 5px; border-radius: 50%; background: var(--glacier); }
.scroll-cue { width: 26px; height: 42px; border: 1.5px solid rgba(255, 255, 255, .5); border-radius: 14px; position: relative; flex: none; }
.scroll-cue span { position: absolute; left: 50%; top: 8px; width: 3px; height: 8px; margin-left: -1.5px; border-radius: 2px; background: #fff; animation: cue 1.8s var(--ease) infinite; }
@keyframes cue { 0% { opacity: 0; transform: translateY(0); } 30% { opacity: 1; } 100% { opacity: 0; transform: translateY(14px); } }

/* Stats */
.stats { background: var(--ink); color: #fff; padding: clamp(48px, 7vw, 80px) 0; }
.stats__grid { display: grid; grid-template-columns: repeat(4, 1fr); }
.stat { padding: 8px clamp(16px, 3vw, 32px); border-left: 1px solid var(--line-light); }
.stat:first-child { border-left: 0; padding-left: 0; }
.stat strong { display: block; font-size: clamp(2.6rem, 5.5vw, 4.2rem); font-weight: 600; letter-spacing: -.05em; line-height: 1; margin-bottom: 10px; }
.stat span { color: var(--muted-light); font-size: .95rem; display: block; max-width: 200px; line-height: 1.4; }

/* About */
.about__grid { display: grid; grid-template-columns: 5fr 7fr; gap: clamp(40px, 7vw, 100px); align-items: center; }
.portrait { margin: 0; position: relative; border-radius: var(--radius); overflow: hidden; background: #9a9a9a; box-shadow: 0 30px 60px -30px rgba(11, 15, 20, .45); }
.portrait img { width: 100%; height: auto; aspect-ratio: 876 / 905; object-fit: cover; }
.portrait figcaption {
  position: absolute; left: 14px; right: 14px; bottom: 14px; padding: 14px 18px; border-radius: 12px;
  background: rgba(246, 244, 239, .9); backdrop-filter: blur(10px); display: flex; flex-direction: column; line-height: 1.35;
}
.portrait figcaption span { color: var(--muted); font-size: .9rem; }
.about__text h2 { margin-bottom: 28px; }
.about__text p:not(.eyebrow) { font-size: 1.12rem; color: #2b333d; }
.about__links { display: flex; flex-wrap: wrap; gap: 14px 32px; margin-top: 32px; }
.link-arrow { font-weight: 600; text-decoration: none; border-bottom: 1.5px solid var(--accent); padding-bottom: 3px; transition: color .2s; }
.link-arrow:hover { color: var(--accent); }

/* Band */
.band { position: relative; min-height: clamp(360px, 60vh, 620px); display: flex; align-items: flex-end; color: #fff; padding: 64px 0; overflow: hidden; }
.band--alps { background: linear-gradient(180deg, rgba(11, 15, 20, 0) 35%, rgba(11, 15, 20, .7) 100%), url("img/alps.webp") center / cover no-repeat; }
.band__quote { font-size: clamp(1.8rem, 4.4vw, 3.4rem); font-weight: 600; letter-spacing: -.035em; line-height: 1.08; margin: 0; max-width: 900px; text-shadow: 0 2px 30px rgba(0, 0, 0, .3); }

/* Advising */
.quotes { display: grid; grid-template-columns: repeat(3, 1fr); gap: 20px; }
.quote {
  margin: 0; position: relative; display: flex; flex-direction: column; padding: 30px; border-radius: var(--radius);
  background: #fff; border: 1px solid var(--line); transition: transform .35s var(--ease), box-shadow .35s var(--ease);
}
.quote:hover { transform: translateY(-4px); box-shadow: 0 24px 50px -28px rgba(11, 15, 20, .35); }
.quote__company { display: flex; align-items: center; gap: 14px; margin-bottom: 26px; line-height: 1.3; }
.quote__company img { width: 48px; height: 48px; border-radius: 12px; object-fit: cover; border: 1px solid var(--line); }
.quote__company strong { display: block; }
.quote__company span { font-size: .85rem; color: var(--muted); }
.quote blockquote { margin: 0 0 28px; font-size: 1.06rem; line-height: 1.6; flex: 1; color: #1f2730; }
.quote figcaption { display: flex; flex-direction: column; padding-top: 20px; border-top: 1px solid var(--line); line-height: 1.4; }
.quote figcaption span { font-size: .88rem; color: var(--muted); }
.quote__link {
  position: absolute; top: 26px; right: 26px; width: 34px; height: 34px; border-radius: 50%; display: grid; place-items: center;
  text-decoration: none; border: 1px solid var(--line); color: var(--muted); transition: background .2s, color .2s, border-color .2s;
}
.quote__link:hover { background: var(--ink); color: #fff; border-color: var(--ink); }

/* Investing */
.investing { background: var(--ink); color: #fff; overflow: hidden; isolation: isolate; }
.investing__bg { position: absolute; inset: 0; z-index: -1; opacity: .32; background: linear-gradient(180deg, var(--ink) 0%, rgba(11, 15, 20, .2) 45%, var(--ink) 100%), url("img/fog.webp") center / cover no-repeat; }
.investing .eyebrow { color: var(--muted-light); }
.investing .section__lead { color: var(--muted-light); }
.thesis { list-style: none; margin: 0; padding: 0; display: grid; grid-template-columns: repeat(4, 1fr); gap: 16px; }
.thesis li {
  --c: 255, 106, 61;
  position: relative; overflow: hidden;
  padding: 28px; border-radius: var(--radius); border: 1px solid rgba(var(--c), .4);
  background:
    radial-gradient(120% 80% at 0% 0%, rgba(var(--c), .38), transparent 60%),
    linear-gradient(160deg, rgba(var(--c), .2), rgba(255, 255, 255, .02) 70%);
  backdrop-filter: blur(12px);
  min-height: 240px; display: flex; flex-direction: column; transition: border-color .3s, transform .35s var(--ease), box-shadow .35s var(--ease);
}
.thesis li::before { content: ""; position: absolute; inset: 0 0 auto; height: 3px; background: linear-gradient(90deg, rgb(var(--c)), rgba(var(--c), 0)); }
.thesis li:nth-child(2) { --c: 156, 199, 255; }
.thesis li:nth-child(3) { --c: 52, 211, 153; }
.thesis li:nth-child(4) { --c: 192, 132, 252; }
.thesis li:hover { border-color: rgba(var(--c), .8); transform: translateY(-4px); box-shadow: 0 18px 50px -18px rgba(var(--c), .55); }
.thesis__n { font-family: var(--serif); font-style: italic; font-size: 1.6rem; color: rgb(var(--c)); line-height: 1; }
.thesis h3 { font-size: 1.45rem; margin: 64px 0 10px; }
.thesis p { color: rgba(255, 255, 255, .78); margin: 0; font-size: .98rem; line-height: 1.5; }

/* Portfolio */
.tabs { display: inline-flex; padding: 5px; border-radius: 999px; background: var(--paper-2); gap: 4px; flex-wrap: wrap; }
.tabs button {
  border: 0; background: none; font: inherit; font-size: .92rem; font-weight: 600; padding: .6em 1.1em; border-radius: 999px;
  color: var(--muted); cursor: pointer; transition: background .25s, color .25s, box-shadow .25s;
}
.tabs button span { font-weight: 500; opacity: .6; margin-left: 2px; }
.tabs button[aria-selected="true"] { background: #fff; color: var(--ink); box-shadow: 0 1px 3px rgba(11, 15, 20, .12); }
.logos { display: grid; grid-template-columns: repeat(5, 1fr); gap: 14px; animation: fade .5s var(--ease); }
.logos[hidden] { display: none; }
@keyframes fade { from { opacity: 0; transform: translateY(8px); } }
.logo {
  position: relative; aspect-ratio: 1; border-radius: var(--radius); background: #fff; border: 1px solid var(--line);
  display: grid; place-items: center; padding: 14%; overflow: hidden; text-decoration: none;
  transition: transform .35s var(--ease), box-shadow .35s var(--ease);
}
.logo img { width: 100%; height: 100%; object-fit: contain; filter: grayscale(1) contrast(1.05); opacity: .85; transition: filter .35s, opacity .35s, transform .5s var(--ease); }
.logo--full { padding: 0; border: 0; }
.logo--full img { object-fit: cover; }
.logo:hover { transform: translateY(-4px); box-shadow: 0 24px 50px -28px rgba(11, 15, 20, .4); }
.logo:hover img { filter: none; opacity: 1; }
.logo--full:hover img { transform: scale(1.04); }
.logo--zoom img { transform: scale(1.7); }
.logo--zoom:hover img { transform: scale(1.75); }
.badge {
  position: absolute; top: 12px; left: 12px; padding: 4px 10px; border-radius: 999px; background: var(--accent); color: var(--accent-ink);
  font-size: .72rem; font-weight: 700; letter-spacing: .06em; text-transform: uppercase;
}

/* Contact */
.contact { position: relative; color: #fff; background: var(--ink); padding: clamp(100px, 16vw, 200px) 0; overflow: hidden; isolation: isolate; text-align: center; }
.contact__bg { position: absolute; inset: 0; z-index: -1; background: linear-gradient(180deg, rgba(11, 15, 20, .55), rgba(11, 15, 20, .82)), url("img/peaks.webp") center / cover no-repeat; }
.contact__inner { display: flex; flex-direction: column; align-items: center; }
.contact h2 { max-width: 15ch; font-size: clamp(2.4rem, 7vw, 5.6rem); letter-spacing: -.045em; margin-bottom: 22px; line-height: 1; }
.contact__lead { color: rgba(255, 255, 255, .8); font-size: 1.15rem; margin-bottom: 36px; }
.contact__meta { display: grid; grid-template-columns: repeat(3, auto); gap: 24px 64px; margin: 72px 0 0; padding-top: 36px; border-top: 1px solid var(--line-light); text-align: left; }
.contact__meta dt { font-size: .75rem; letter-spacing: .14em; text-transform: uppercase; color: var(--muted-light); margin-bottom: 6px; font-weight: 600; }
.contact__meta dd { margin: 0; line-height: 1.5; }
.contact__meta a { text-decoration: none; }
.contact__meta a:hover { color: var(--accent); }

/* Footer */
.footer { background: var(--ink); color: var(--muted-light); padding: 56px 0 40px; border-top: 1px solid var(--line-light); font-size: .92rem; }
.footer__inner { display: grid; grid-template-columns: 1fr auto; gap: 24px 40px; align-items: start; }
.footer .brand { color: #fff; margin-bottom: 10px; }
.footer__brand p { margin: 0; }
.footer__copy { margin: 0; grid-column: 1 / -1; padding-top: 24px; border-top: 1px solid var(--line-light); }
.impressum { justify-self: end; max-width: 560px; }
.impressum summary { cursor: pointer; color: #fff; font-weight: 600; list-style: none; text-align: right; }
.impressum summary::-webkit-details-marker { display: none; }
.impressum summary::after { content: " +"; color: var(--accent); }
.impressum[open] summary::after { content: " −"; }
.impressum dl { margin: 18px 0 12px; display: grid; gap: 6px; }
.impressum dl div { display: grid; grid-template-columns: 190px 1fr; gap: 12px; }
.impressum dt { color: rgba(255, 255, 255, .45); }
.impressum dd { margin: 0; color: rgba(255, 255, 255, .85); }
.impressum .muted { color: rgba(255, 255, 255, .45); font-size: .85rem; }

/* Reveal on scroll (only when JS is running) */
.js .reveal { opacity: 0; transform: translateY(18px); transition: opacity .9s var(--ease), transform .9s var(--ease); }
.js .reveal.is-in { opacity: 1; transform: none; }

/* Responsive */
@media (max-width: 1024px) {
  .thesis { grid-template-columns: repeat(2, 1fr); }
  .quotes { grid-template-columns: 1fr; max-width: 680px; }
  .logos { grid-template-columns: repeat(4, 1fr); }
}
@media (max-width: 860px) {
  .nav__toggle { display: block; }
  .nav__links {
    position: fixed; inset: 72px 0 auto; flex-direction: column; align-items: stretch; gap: 0; padding: 8px 20px 24px;
    background: var(--paper); color: var(--ink); box-shadow: 0 20px 40px -20px rgba(0, 0, 0, .3);
    opacity: 0; pointer-events: none; transform: translateY(-8px); transition: opacity .25s, transform .25s var(--ease);
  }
  .nav__links a:not(.btn) { padding: 14px 0; border-bottom: 1px solid var(--line); font-size: 1.05rem; opacity: 1; }
  .nav__links .btn { margin-top: 18px; justify-content: center; background: var(--ink); color: #fff; }
  .nav.is-open { background: var(--paper); color: var(--ink); }
  .nav.is-open .nav__links { opacity: 1; pointer-events: auto; transform: none; }
  .about__grid { grid-template-columns: 1fr; }
  .portrait { max-width: 440px; }
  .stats__grid { grid-template-columns: repeat(2, 1fr); gap: 32px 0; }
  .stat:nth-child(3) { border-left: 0; padding-left: 0; }
  .contact__meta { grid-template-columns: 1fr; gap: 20px; text-align: center; }
  .footer__inner { grid-template-columns: 1fr; }
  .impressum { justify-self: start; }
  .impressum summary { text-align: left; }
}
@media (max-width: 760px) {
  .hero__bg { background: linear-gradient(180deg, rgba(11, 15, 20, .55) 0%, rgba(11, 15, 20, .1) 30%, rgba(11, 15, 20, .3) 55%, rgba(11, 15, 20, .95) 100%), url("img/hero-sm.webp") 30% 35% / cover no-repeat; }
  .scroll-cue { display: none; }
  .logos { grid-template-columns: repeat(2, 1fr); }
  .thesis { grid-template-columns: 1fr; }
  .thesis li { min-height: 0; }
  .thesis h3 { margin-top: 28px; }
  .impressum dl div { grid-template-columns: 1fr; gap: 0; }
  .quote { padding: 24px; }
  .section__head--row { align-items: start; }
}
@media (prefers-reduced-motion: reduce) {
  *, *::before, *::after { animation: none !important; transition: none !important; scroll-behavior: auto !important; }
  .js .reveal { opacity: 1; transform: none; }
  .hero__bg { transform: none; }
}