So a model calibrated on a backtest says nothing about its predictive capacity. Who would have thought? Well, at least I think anyone who worked even a little b

So a model calibrated on a backtest says nothing about its predictive capacity. Who would have thought? Well, at least I think anyone who worked even a little bit in quantitative finance. The only way to validate a model is to make predictions and test if those predictions actually happen in a repeatable way, which in certain circles is refered to as "experiment". That's why I distrust any model built purely on backtested data unless they can be shown to predict something else than history. And AI is not the only area that blindly trusts those kind of models.