Why there are no performance numbers on this site

Our trading record is paper. The SEC Marketing Rule calls that hypothetical performance, and the firms that attracted serious capital before they had a record led with method, not returns.

Visitors sometimes expect a chart. There isn’t one, and the reason is worth stating plainly.

Our trading record so far is paper. Three strategies run on real broker feeds in paper accounts, and three live-money accounts are funded and fully halted. Nothing has been earned with live capital.

Under the SEC’s Marketing Rule, backtested, model and paper-traded results are hypothetical performance. The Commission’s stated view is that an adviser generally cannot show hypothetical performance to a mass audience, and its 2023 and 2024 enforcement sweeps were aimed at exactly one fact pattern: hypothetical performance on a public website. We are not an adviser marketing a fund today, but we intend to be judged by the standard we would be held to tomorrow.

What we show instead

The firms that raised meaningful capital before they had a public record did not say “no track record yet.” They led with how they think and what they had built. Our equivalent is the Operating Board: facts we can show, regenerated from the repositories at every release. Tests in the release gate. Releases shipped. Brokers integrated. Strategies catalogued and risk-rated. These are true, checkable and allowed.

Where the record lives

Qualified counterparties can request the paper record through the Partner door. It is delivered in a controlled room, with the criteria and assumptions used to produce it and the risks and limitations that go with it, and we keep a record of who has seen what. That is the shape the rule asks for, and it is also simply the honest way to show a record that is mixed, restated by reconciliation work and short.

We would rather be the firm that looked restrained than the one that looked eager.