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THE HEADLINE CHECK

A headline return is one number from one start date. Paste the series behind it and see every start date, every calendar year and the worst stretch, then what is left after your own fee, your own taxes and slippage. The math runs on this page; the series is never sent anywhere.

// THE SERIES

PASTE ONE LINE PER DATE OR MONTH: A DATE, THEN A NUMBER

EACH LINE HOLDS

FIRST MONTH (ONLY IF THE LINES HAVE NO DATES)

Dates can be 2024-01-31, 01/31/2024, 2024-01 or Jan 2024. Tabs, commas and semicolons all work, so a column pasted from a spreadsheet reads as it is. Thousands commas are fine (12,500); a decimal comma (12,5) is refused, so write it with a point. A balance series can be daily; it is read at each month end.

// SINCE INCEPTION, LOSSES FIRST

// EVERY WINDOW, BY START DATE

WINDOW LENGTH

// EVERY CALENDAR YEAR

YEAR	MONTHS	RETURN

// WHAT IS LEFT FOR YOU

WHAT IS THIS SERIES? (REQUIRED) The leader's tradesThe record as the leader traded it. A follower enters after the leader and pays slippage on every trade, so the panel takes slippage off at 5, 10, 25 and 50 bps. The delay itself is not modeled: this page cannot see the trades. A follower's actual resultsWhat a follower's own account earned. The delay and the slippage are already in those numbers, so neither is taken again; only your fee and your taxes are.

ACCOUNT SIZE ($)

FLAT FEE ($)

THE FEE IS PAID

TURNOVER, % OF THE ACCOUNT BOUGHT PLUS SOLD A MONTH

ACCOUNT

YOUR FEDERAL RATE ON THESE GAINS (%)

YOUR STATE AND LOCAL RATE (%)

YOUR ALTERNATIVE'S RETURN, % A YEAR

SIMPLIFIED, NOT TAX ADVICE. Taxable: each calendar year's net gain is taxed at your two rates added together and paid from the account; a losing year's loss is carried forward. No wash sales, no long-term rates, no separate dividend treatment, and the fee is not deducted from gains. IRA: nothing is taxed inside the account; withdrawals follow their own rules, which this page does not model.