{
  "created_before_this_run": true,
  "historical_data_already_seen": true,
  "primary": "sector_consensus_gold10",
  "rules": [
    {
      "name": "previous_gold",
      "kind": "old",
      "gold": "fallback",
      "cap": 1.0
    },
    {
      "name": "gold_cap20_cash",
      "kind": "old",
      "gold": "fallback",
      "cap": 0.2
    },
    {
      "name": "gold_cap10_cash",
      "kind": "old",
      "gold": "fallback",
      "cap": 0.1
    },
    {
      "name": "no_gold_cash",
      "kind": "old",
      "gold": "fallback",
      "cap": 0.0
    },
    {
      "name": "gold_cap20_bond",
      "kind": "old",
      "gold": "gold_bond",
      "cap": 0.2
    },
    {
      "name": "old_sector_gold10",
      "kind": "old",
      "gold": "fixed",
      "cap": 0.1
    },
    {
      "name": "sector_consensus_gold10",
      "kind": "sector",
      "selector": "consensus",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.1
    },
    {
      "name": "sector_consensus_cash",
      "kind": "sector",
      "selector": "consensus",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.0
    },
    {
      "name": "all_etfs_consensus_gold10",
      "kind": "sector",
      "selector": "consensus",
      "representatives": false,
      "gold": "fixed",
      "cap": 0.1
    },
    {
      "name": "liquidity_sectors_gold10",
      "kind": "sector",
      "selector": "liquidity",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.1
    },
    {
      "name": "sector_reg40_gold10",
      "kind": "sector",
      "selector": "regression40",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.1
    },
    {
      "name": "broad_index_gold10",
      "kind": "broad",
      "gold": "fixed",
      "cap": 0.1
    },
    {
      "name": "primary_no_nav_guard",
      "kind": "sector",
      "selector": "consensus",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.1,
      "premium": null
    },
    {
      "name": "primary_nav_guard2",
      "kind": "sector",
      "selector": "consensus",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.1,
      "premium": 0.02
    },
    {
      "name": "primary_nav_guard8",
      "kind": "sector",
      "selector": "consensus",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.1,
      "premium": 0.08
    },
    {
      "name": "primary_pre2019_pool",
      "kind": "sector",
      "selector": "consensus",
      "representatives": true,
      "gold": "fixed",
      "cap": 0.1,
      "static_pool": true
    }
  ],
  "why_primary": "User objects to high gold; fix gold10 and three country budgets30, representative chosen by observable liquidity, diversify A into 3 industry groups. Never select by this run highest return.",
  "mom_windows": [
    60,
    120,
    240
  ],
  "absolute_votes_required": 2,
  "representative_adv_sessions": 120,
  "sector_slots": 3,
  "market_gate": "Inherited MA120, not newly validated",
  "volatility_budget": 0.25,
  "cost_each_side": 0.002,
  "replay": "At each Dec close choose among bounded <=20% gold rules using previous 3 complete years: positive CAGR, MDD<=25%, highest Sharpe. Diagnostic only: family created in 2026.",
  "no_untouched_holdout": true
}