Core Alpha Research · Nº 003 · Long-History Tearsheet HYPOTHETICAL

The Model Portfolio, across market cycles.

Core Alpha Research, a hypothetical Model Portfolio. This long-history backtest is the Core Alpha strategy: the high-turnover, opportunistic momentum book built for tax-advantaged accounts. The flagship Structural Alpha book, diversified, low-turnover, tax-managed, is the taxable-account strategy. This is a hypothetical, multi-decade backtest, fit in-sample and reported out-of-sample, not a client account and not an executed order.
Signal system, research only, not investment advice. Out-of-sample = the held-out remainder after parameters were fit on the in-sample head; net of modeled transaction cost. Past performance does not predict future results.
Driftwood Wealth is the private-wealth practice of Alec Messino. Securities products and advisory services offered through Park Avenue Securities LLC (PAS), member FINRA, SIPC. Alec Messino is a Registered Representative and Financial Advisor of PAS. Driftwood Wealth is not an affiliate or subsidiary of PAS. All figures are illustrative models for educational purposes, not investment, tax, or legal advice, and not a recommendation. Privacy Policy · Terms of Use.
Intended for sophisticated investors; these are hypothetical model results, not advice, and may not be relevant to your situation.
Hypothetical / backtested performance, not a real track record.
Every figure here reflects the retroactive application of a quantitative model to long-run historical data (price history partly proxy-spliced). It is hypothetical: it does not represent actual trading, any actual client account, or actual client capital; no client capital was invested. Results were prepared with the benefit of hindsight and do not reflect the impact material market factors might have had on live decision-making. Past performance, whether hypothetical or actual, does not guarantee future results. Net of modeled transaction cost; benchmarks are buy-and-hold. Research and illustration only; not investment, tax, or legal advice.