every backtest has already seen the answer.
you chose the period, the universe and the exit rule knowing how the last ten years went. you cannot un-know that.
which is why almost everything works beautifully right up until the day real money is on it.
we have earnings call transcripts for 1,585 indian companies.
that is not a gap in our coverage. that is close to every listed company in india that actually holds a call.
thousands of listed companies never explain their results out loud to anyone, ever. and people buy them anyway.