Legal
Disclaimer
Plain words about what an audit is, and what it is not.
Statistical analysis of past data
Holdout Labs (“we”) provides statistical analysis of historical data and of trading rules supplied by our clients. Our reports, grades, sample audits, case studies and all content on this website describe how fragile a set of historical results is under published statistical tests.
Not investment advice
Nothing we publish or deliver is investment, financial, legal, tax or trading advice. We do not recommend that anyone buy, sell or hold any security, commodity, currency, digital asset or derivative, and we do not recommend any strategy, position size or allocation. We are not registered as an investment adviser, broker-dealer, commodity trading adviser or research analyst in any jurisdiction.
No guarantee
An audit measures the fragility of past evidence. It does not measure, predict or promise future performance. A favorable grade does not mean a strategy will perform well; an unfavorable grade does not mean it will perform badly. Past performance, whether real or simulated, does not guarantee future results.
Hypothetical performance
Backtests, sample audits and sealed forward trials describe hypothetical performance: what a rule would have signalled, not what any account achieved. Hypothetical results have inherent limitations, including the benefit of hindsight and the absence of real execution, liquidity and financial risk.
Your decisions
You are solely responsible for any trading or investment decision you make. Trading involves substantial risk of loss. Consult a qualified, licensed professional before making financial decisions.
See also the terms of service and privacy notice (drafts, pending legal review).