A track record judged by the MIZAN gate inside a zero-knowledge proof: returns after costs, the out-of-sample split and the overfitting corrections recomputed in-circuit, the strategy never revealed. Anyone can verify this credential offline. Every verdict on the registry is published, including this one.
The benchmark itself, submitted to its own judge: the whole US market, held 28.5 years, refused on four grounds — Sharpe 0.55, CAGR 9.2%, a 55.86% drawdown, one trade. Independence 0%: the verifier proves in-circuit that this record is 99% market beta. If your manager's track looks like this, you now know what it is. Survival analysis: mizan.market/survival ERRATUM 2026-08-08: this credential declared 252 periods/year where the committed window supports 251 (7,184 bars over 28.6 calendar years), so it fails the verifier's C1 annualization bound. No metric and no verdict changed. It remains verifiable forever and is superseded by legend-spy-buyhold, re-minted at 251.
Download the bundle, run the verifier with the network off. The verdict recomputes on your machine in about 81 ms.
SPY · daily OHLC · survivorship-free US feed (1997→2026, 7,184 bars)2026-08-04T11:45:00ZFAIL · SharpeTooLow · CagrTooLow · DrawdownTooHigh · TooFewTrades — published anywayhonest_failv11 · both-schools validation-completelive663016d80feb9079663016d80feb907910cc3b18cc5dab9a56d03e8bef89fc3fccca58b7e075ac6eAug 4 11:53:35 2026 GMTpending confirmation0dbb8999bbe6e39ab3617639a11337c3e13f746bb94d3b36ce0b277a144e31eb5f878bf4d24bda7d7e90d09c9345418b9c77ec4ac866df57ac76eff8ee44c5f26220 KBMIZANWhat a verdict means: what a PASS asserts · what we refuse to certify · reading a verdict · the VTR-1 standard.