Disclaimer
How to read the research on this site.
This website is for research, educational, and informational purposes only. Nothing here is investment advice, an offer to trade, or a solicitation. Backtested and simulated results do not represent live trading and have inherent limitations.
Not investment advice
Nothing published here is investment advice, a recommendation, an offer, or a solicitation to buy or sell any instrument. Research is published to document method and evidence, not to promote a strategy.
Backtested and simulated results
Where results appear, they are backtested or simulated unless explicitly labelled otherwise. Simulated results are constructed with hindsight over a chosen sample and do not represent trading with real capital. They omit or approximate costs, slippage, financing, capacity, and execution constraints.
Labelling of results
Any result published here identifies its sample period, whether it is gross or net, its cost assumptions, its rebalancing frequency, its benchmark, its annualization method, and whether it is simulated or live.
Status of ongoing work
Projects marked In Progress, In Development, or Planned are unfinished. Their content may change, and preliminary figures should not be treated as findings.
No performance claims
This site makes no claim of market-beating performance, proven alpha, or expected returns. Where a strategy is studied, both supporting and contrary evidence are reported.
Data and licensing
Some research uses licensed data that cannot be redistributed. In those cases, methodology and code are documented so the workflow can be reproduced with an equivalent authorized dataset.
Independence
The research here is personal work. It does not represent the views of any employer, institution, or client.