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Backtesting Investment Strategies Is Like Bill Belichick Studying Game Films
" For some reason, backtesting gets a bad rap. Sure, past performance does not guarantee future performance but ask Bill Belichick, coach of the New England Patriots of the National Football League, about the importance of watching game films to prepare for a game. By analyzing game films, you can spot patterns, like a pitcher tipping his pitches, the weakness of an offensive lineman or that you should be shooting high glove side on a hockey goaltender.
Looking at game films is no where as useful as spying on closed practices before Super Bowls, though. Seeing the new plays sure beats relying on past patterns. Hard to apply that to making money - oops, guess that would be insider trading.
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Hard to apply that to making money - oops, guess that would be insider trading.