Research notes from Vermas' Quant: essays and methodology deep-dives on validation and measurement.https://vermasquant.com/en-ushttps://vermasquant.com/notes/paper-first-always/https://vermasquant.com/notes/paper-first-always/Before any capital follows a strategy, it trades forward in time on paper, at costs we hold to be realistic. It is where we expect most survivors to fail.Tue, 16 Jun 2026 00:00:00 GMThttps://vermasquant.com/notes/what-earns-a-place/https://vermasquant.com/notes/what-earns-a-place/Few strategies reach the program. That reflects the height of the bar, and a strategy holds its place only while it keeps earning it.Thu, 21 May 2026 00:00:00 GMThttps://vermasquant.com/notes/the-data-we-refuse-to-look-at/https://vermasquant.com/notes/the-data-we-refuse-to-look-at/A held-out period is worth having only while it stays unseen. We keep data that research never touches, and a strategy gets a single look at it.Thu, 09 Apr 2026 00:00:00 GMThttps://vermasquant.com/notes/a-number-is-only-as-honest-as-how-it-was-chosen/https://vermasquant.com/notes/a-number-is-only-as-honest-as-how-it-was-chosen/The failure behind most disappointing strategies is rarely a bad idea. It is a good number that was chosen by looking at it. Separating selection from reporting is what prevents that.Wed, 18 Feb 2026 00:00:00 GMT