“Microsoft's Azure backlog went to 678,000,000,000. So between the three of them, more than 1,500,000,000,000 in backlog for their data centers and their cloud businesses.”
No settled horizons yet — outcomes appear at 30/90/365 days.
Risk: max drawdown 4.7%
· volatility 26.8% ann.
· Sharpe-proxy -7.78