@techreport{canli2026luckequivalenttrials,
  author      = {Canli, Arhan},
  title       = {Luck-equivalent trials: how many skill-less strategies it takes to reach a Sharpe by luck},
  institution = {Canli Capital},
  type        = {Open quantitative research report},
  year        = {2026},
  url         = {https://canlicapital.com/research/luck-equivalent-trials}
}