Closelook's eight live model portfolios run with real capital — skin-in-the-game framing, not benchmark tracking.
A Reference Portfolio is one of Closelook's eight live model portfolios run with real capital rather than paper benchmarks. The "skin in the game" framing is the differentiator: positions, entries, and drawdowns are real, not back-tested. See Reference Portfolio 101 and the Portfolios overview.