investment-memo-craft

# Investment Memo Craft ## Purpose Turn investment research into a decision-ready Codex research report. Keep the data discipline of the underlying research skill, but make the output easier for an investor to use: concrete business mechanics, sharp inverse thinking, explicit opportunity cost, action thresholds, and calm Markdown typography. Use this as a writing and judgment overlay. It does not replace financial-data rules, primary-source checks, valuation tools, or report audit tooling. For long-form AI Berkshire outputs, title the artifact as a "research report" by default. Use "investment memo" only when the user explicitly asks for a memo format. This is a Codex-only hand-written skill kept under `codex-skills/` for simple installation. Do not add a same-named `skills/investment-memo-craft.md` source unless intentionally adopting this workflow for Claude Code too. ## Core Workflow 1. Open with context; reserve the full decision for after the evidence. - In the first screen, state the research date, price, market cap, valuation, and a short thesis. - Do not front-load the full buy/hold/sell table unless the user explicitly asks for an executive memo. - Put the detailed recommendation, investor-specific actions, and price bands near the end, after business quality, risk, and valuation have been argued. - Separate "good business" from "good investment at this price". 2. Build the operating map before the philosophy. - Include revenue structure, segme...