Investment disclosure
Everything published on BetterQuants is for educational and informational purposes only. It is not investment advice, financial advice, tax advice, or a recommendation to buy, sell, or hold any security, derivative, or digital asset. We are not your fiduciary and we have no idea what your specific situation is. Before you size any of the ideas we discuss into a real portfolio, talk to someone who is registered to give you advice in your jurisdiction.
Backtests are estimates of what a strategy would have done, fitted with the benefit of hindsight on data that may or may not still represent the underlying market. Past performance does not predict future results. Strategies degrade. Frictions, slippage, borrow, and behaviour-of-markets-when-everyone-runs-the-same-trade are real costs that retail backtests routinely ignore. Drawdowns are not optional; if you cannot stomach a fifty-percent drawdown for a strategy with a long-run Sharpe of one, you should not run that strategy.
We discuss derivatives, leverage, and short-selling. These instruments can lose more than the capital you commit to them. If you do not already understand the mechanics of margin, assignment, and forced liquidation, the right amount of leverage for you is zero.
Affiliate disclosure
Some links on this site are affiliate links. If you click one and end up purchasing a product — a book, a course, a brokerage account, a data feed, a piece of hardware — the merchant may pay us a small commission. The price you pay is unchanged. Commissions help fund the time we spend writing, testing, and breaking strategies before we publish.
We make recommendations on the merit of the product, not on the size of the payout. If a tool we cover does not have an affiliate program — or has one that we did not bother to apply for — we will still recommend it where it is the right answer. If a tool we cover is bad, we will say so even when we are paid to refer it.
BetterQuants currently runs in the Amazon Associates US program (tracking ID betterquants-20). As we sign on additional broker, platform, and data-vendor programs we will list them here. If you ever want to know whether a specific link is monetised, hover over it; affiliate links are tagged with a referral parameter (?tag=, ?ref=, etc.) you can read in the URL.
No positions disclaimer
From time to time we will discuss specific tickers or strategies that we ourselves trade. We will say so explicitly in those posts. Where we do not say so, assume we have no position and no plans to take one in the next 72 hours.
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