61 sleeves. One standard.
No hidden graveyard.
The durable edge is not a prediction. It is a decision system willing to prove itself wrong.
Across the corpus, markets repeatedly punished stories that mistook beta for insight, complexity for diversification, or a backtest for evidence. AI can multiply hypotheses; it cannot remove uncertainty or own a decision. Durable advantage comes from governed judgment: expose the assumptions, test outside the sample, preserve the failures, and constrain what survives.
The nulls, unresolved modeling problems, and implementation friction are not admissions of weakness. They are the evidence that every keeper was earned—and the foundation for decisions that can withstand scrutiny.