How a research run works: 13 roles, one verdict
A research run passes a company through 13 roles in a fixed order. The run ends in one decision, and the record of who disagreed stays attached to it.
The research index, which lists finished runs. The screenshot shows Korvane Motion Systems (KRVN), a fictional company in our public demo.
The analysts
Five analysts work independently. None of them sees another’s notes, so their conclusions can be compared without one shaping the next.
The debate
A bull and a bear then argue the case against each other over a number of rounds. The bull makes the strongest argument for owning the company. The bear makes the strongest argument against.
The manager and the trader
The research manager reads the debate and settles on a plan. The trader turns that plan into a proposed trade.
Risk
Three risk voices review the proposed trade, each from its own position.
The decision
The portfolio manager makes the final decision. The decision keeps the dissent: the objections raised along the way stay on the page beside the verdict. It also states the invalidation level, the point at which the call would be proven wrong.
The verdict of a finished run. The screenshot shows Korvane Motion Systems (KRVN), a fictional company in our public demo.
You can open a finished run in the demo.
Not investment advice.