Editing Openai/6936126b-3ed0-8003-aa64-374e59b4ad27 (section)

==== - This is an approximate (fast) backtest using annual total returns and year-end top-5 snapshots. It does not use daily prices, intraday fills, exact trade timestamps, nor historical USD→GBP FX conversions. That makes it fast but imprecise (I would expect differences of several % to tens of % vs. a full daily, FX-aware backtest). ====
* Annual total-return numbers were taken from public total-return / returns tables for the tickers used (Apple, Amazon, Alphabet, NVIDIA, etc.). Total Real Returns<ref>{{cite web|title=Total Real Returns|url=https://totalrealreturns.com/n/AAPL|publisher=Total Real Returns|access-date=2025-12-07}}</ref>
* I used a 0.1% trade cost per operation (small) — if your real execution costs differ (or you pay stamp duty, broker fees, tax), results change.
* FX matters. Because your base currency is GBP, historical USD/GBP moves between trade dates can materially affect GBP results. I omitted FX in this quick pass to keep it fast — I can add it in the precise run.
* The top-5 snapshots were taken from year-end lists as a proxy for the 7-Dec date; if you want exact market-cap-ranked tickers on 7-Dec of each year I can fetch the exact market-cap numbers and re-run precisely.