The staged path.
One path in, the same for every strategy — including the ones we are sure about. Nothing skips a stage, and nothing is grandfathered in.
Strategies are currently in forward validation. Current as of 2026.
Research
Candidates are developed and evaluated under the house validation standards. Most are rejected at this stage, which is what the stage is for.
Forward validation
CURRENT STAGESurviving strategies trade on paper — live, forward in time, at realistic costs — for as long as it takes to know. Strategies are currently in forward validation.
Proprietary capital
Strategies that hold up trade the firm’s own capital, and remain under the same measurement that admitted them. A strategy that stops earning its place loses it.
This is a proprietary operation. We do not manage outside capital, sell signals, or license research.