spec: adaptive multi-strat book — deployable (the honest endpoint)
Diversified, edge-decay-adaptive, adaptively-risk-managed, UNLEVERED multi-asset ETF book
(SPY/IEF/GLD/PDBC/DBMF + small BTC). ~0.5-0.7 Sharpe, ~-7-12% maxDD, ~$2-3k/yr on $35k, scales
with capital. Edge-decay-trust allocation + adaptive risk layer (EMA vol, Kelly-floor, continuous
self-recovering DD de-lever, z-score corr, leverage-floor) = the foxhunt engine as risk/allocation
brain (validated). Unlevered because retail financing (6-7%) kills the leverage benefit (1x Sharpe
+0.48 vs 2x +0.14); the hedge-fund moat is cheap prime-brokerage financing, structural not algo.
Premium harvest, not alpha; engine value = risk-mgmt. Phased rollout: paper-forward -> micro-live ->
scale. The honest deployable endpoint of the whole search.
Co-Authored-By: Claude Opus 4.8 (1M context) <noreply@anthropic.com>
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