Blog
Original analysis
Blog
Analysis we produce ourselves, rather than summaries of what others published. Each post works through a question with arithmetic we compute and state the assumptions for. Where a method or figure comes from someone else, it is named. Where it is ours, it says so.
28 August 2026
Why backtests beat live results: the four channels of decay
A backtest and a live account measure different things. Our decomposition of the four channels separating them, with the arithmetic for each.
Where to start instead
If you are new to the subject, the reference pages are more useful than the blog: what AI trading is, what the evidence shows, every figure with its source, and the glossary.