# Stock Onboarding Pipeline > Onboard new Indian stocks into the "Paise se Paisa" Action Dashboard end-to-end, using the v2 vault-aligned machinery (understanding gate → quality-gated conviction with ROIC+runway → conservative IV range → conviction-scaled margin-of-safety vs opportunity cost → reformed verdict). Use when the user says "add stocks", "add the next batch", "onboard ", "grow the dashboard", "re-rank", or wants to extend the TO-BUY/study list. Workspace: /Users/Dhiraj/dev/invest, sheet fileId 1N87younF990u-YGMOAiT8q6X-EtZ3jVovlWCF44orEY. Charlie Munger & Warren Buffett (the Obsidian vault) are the binding CIO; the vault gates conviction/verdict/MoS, it is not narrative decoration. - Skill: `build-with-dhiraj/stock-onboarding-pipeline` (Agent Skill) - Install (CLI): `npx skillmds@latest add build-with-dhiraj/stock-onboarding-pipeline` - Raw SKILL.md: https://api.skillmd.com/api/skills/build-with-dhiraj/stock-onboarding-pipeline/raw - Safety review: pending - Works with: Claude Code, Claude.ai, OpenAI Codex - Category: DevOps & Infra - Author: build-with-dhiraj (https://skillmd.com/u/build-with-dhiraj) - Updated: 2026-09-17 - Page: https://skillmd.com/skills/build-with-dhiraj/stock-onboarding-pipeline --- # Stock Onboarding Pipeline (v2 — vault-aligned) The single source of truth for adding stocks to the Action Dashboard. Follow the stages in order. **v2 machinery adopted 2026-06-12** after a CIO review (Munger/Buffett via the vault) found v1 "looked Buffett but ranked like a quant trading desk", and that the vault only fed narrative. See [[reference-paise-se-paisa-sheet]] and [[feedback-indian-mentors-lens]] in memory. The live process is documented in the sheet's **⚙️ Machinery v2** tab; per-stock grades in **🔍 Conviction & MoS v2**. **Retrieval plumbing upgraded 2026-06-12 (brain-densification Phase 4):** all vault consultation now goes through `data/scripts/32_consult_brain.py` (scoped, cited, structured) — the v2 logic itself is unchanged. ## North star The dashboard is a **STUDY LIST in search of ONE strictly-lifelong hold (FOREVER)** — not a buy-list, and **not a 45-name basket** (Munger: 1–3 wonderful businesses suffice; act rarely). Indian Substack analysts (Vaibhav & Gaurav Tambade = "India's Buffett/Munger"; plus Karan Shah, The Megatrend Investor, Dhruva) supply the bull thesis + ground-truth context; **Charlie Munger & Warren Buffett (the vault) are the FINAL, BINDING arbiters.** Finding zero FOREVER names — and finding that nothing clears the margin-of-safety bar at today's prices — is an acceptable, expected result. Patience is the edge. **See also — ETFs / REITs / InvITs:** this pipeline is for individual stocks → the 🎯 Action Dashboard. For a fund (ETF, REIT, InvIT) use **`etf-reit-onboarding`** instead — it evaluates funds like stocks but publishes to the **🌍 Global & Passive Base** tab and NEVER touches the LOCKED Action Dashboard. ## HARD RULES (never violate) 1. **Never re-grill / re-dossier stocks already done.** Existing dossiers in `vault/research/dossiers/*.md` are frozen inputs. Only dossier the NEW stocks. (Exception A — DATA FIX: a stock whose dossier had a *data error* — e.g. wrong price — may be corrected; that is a fix, not a re-grill.) (Exception B — EVENT REFRESH: when `data/scripts/70_detect_material_events.py` flags a MATERIAL event on a dashboard/HELD name, the dossier HEAD WINDOW may be refreshed under the **`news-results-refresh`** skill. Only the head window is touched — research PROSE stays frozen. **L0** staleness-stamp (`last_event_checked`) + **L1** one-line catalyst/"Why" refresh AUTO-apply. **L2 — IV / conviction / verdict-DEMOTION / within-tier flips / MoS recompute now ALSO AUTO-apply AND AUTO-re-rank the LOCKED Action Dashboard** through the guarded loop (user override, 2026-06-25): an earning-power event passes `coln_iv_event_gate.py` → `71_refresh_orchestrator.py` runs a targeted Stage-3 re-grade (binding-vault consult + `80_estimate_iv.py` price-independent IV + conviction gates + MoS/buy_below recompute + verdict re-derive + board sanity-check) → re-freezes the dossier head → **`73_refresh_cycle.sh` stage 3c invokes `82_rerank_guard.py --tag headwindow`** (once per cycle, after the reindex) to re-rank + publish the whole set behind a 3-tab backup + dry-run-diff + **ticker-keyed** checksum + auto-revert + maker≠checker, gated by env **`RERANK_AUTO=1`** AND brain-healthy post-reindex AND ≥1 L1 applied this cycle (`71` never calls 82 — the re-rank is once-per-cycle in 73). **`RERANK_AUTO` is DEFAULT-OFF: the capability shipped (PR #33) and is now wired into the loop (73 stage 3c), but stays off pending a supervised first-enable** — until then 73 doesn't even invoke 82; if run manually, 82 dry-runs + asserts + prints the order-diff and STOPS (no live re-rank). `RERANK_AUTO` is NOT set in the plist — enabling it is the user's explicit supervised toggle. (A re-rank CARRIES the live col-D verdict + col-M conv byte-for-byte; reconcile a stale D/M cell to the dossier oracle first with the sanctioned writer `sync_col_dm.py` → `write_col_dm.mjs`, else 82's carried-cell assertion ABORTS.) **SOLE human gate: a FOREVER *promotion* (Stage-4 adversarial "strictly-lifelong" inversion a cron can't do) — and any `needs_review`/board-contradiction — routes to `data/state/pending_reviews/.json` and is NEVER auto-applied.** Price / FII / MF flows / ratings / buy-calls move live MoS + Upside (cols I/J/K) ONLY — they NEVER trigger IV or a re-grade.) **HEAD-WINDOW RULE: when correcting a dossier (data fix OR a re-grill finding), you MUST edit the HEAD WINDOW — the frontmatter snapshot + the one-line thesis in the first ~4,000 chars — NOT just an appended tail section. `26_build_lancedb_index.py` embeds only ONE ~4,000-char head vector per dossier, so tail appends are invisible to brain retrieval. (A stale Repco-CBI "open case" flag kept surfacing until the head one-line thesis was fixed, 2026-06-18; appending a "## Re-grill" section at the tail alone did nothing.)** 2. **Always re-rank the WHOLE set** (old + new) after adding — never just the new ones. (The whole-set re-rank is now ALSO wired into the news loop: `73_refresh_cycle.sh` stage 3c invokes `82_rerank_guard.py --tag headwindow` to re-run the Stage-6 publish runbook unattended behind the re-rank guard + auto-revert + maker≠checker, gated by `RERANK_AUTO=1` (default-OFF, NOT in the plist, pending supervised enable) AND a healthy post-reindex brain AND ≥1 applied L1 this cycle. A FOREVER *promotion* still requires the human Stage-4 gate.) 3. **The vault is BINDING, not decoration.** `data/scripts/32_consult_brain.py` (scoped, cited retrieval — see CONSULTING THE BRAIN below) gates conviction, verdict and MoS at Stages 0/3/4. `cites_principles` may contain ONLY slugs it actually returns (`principles[].slug`). No fabricated citations. If `principles` comes back empty/thin → abstain + flag. (`29_vault_chat.py` stays available for free-form cited Q&A / ad-hoc grilling.) 4. **Quality is a HARD GATE before price.** Order of analysis: understanding → moat/owner-earnings/management → ONLY THEN price. A business you can't understand, or with no durable moat, cannot earn high conviction regardless of price or optics. 5. **Conviction = JUDGMENT, not a formula** (Munger: avoid false precision / formulaic thinking). It measures durable business quality, price-independent — see the rubric in KEY REGISTRY. Gates: no moat → 1; chronically weak/near-zero FCF → cap 2; returns below ~12% cost of capital → cap 2. Banks/NBFCs judged on ROE vs cost of equity (ROCE/FCF N/A); InvITs cap 2; quasi-financials (heavy FCF can offset modest ROCE). 6. **Margin of safety is THE gate** (the cornerstone, widens with uncertainty), scaled to conviction (conv5 ≥10%, conv4 ≥15%, conv3 ≥25%, conv2 ≥40%, conv1 ≥55%), measured vs **opportunity cost** (the best existing idea), NOT a bond yield. **IRR HURDLE (named gate):** a BUY must clear the index — expected IRR > the ~9–10% Nifty return (the default opportunity cost); a wonderful business that can't beat the index from today's price is a WATCH, not a BUY. **Volatility ≠ risk** — the old GBM price engine is a DEMOTED clerk (informational only: "is an entry plausible / where's the MoS line"), never the judge or tiebreak. 7. **Intrinsic value is a conservative RANGE** (low/base/high), never a false-precise point. Buy-below = `iv_base × (1 − required_MoS)`. **IV = business EARNING POWER, and is PRICE-INDEPENDENT** — it re-estimates ONLY when news changes earning power (a structural results delta, a capacity add, a durable order win) via a real DCF / justified-P/B (`80_estimate_iv.py` takes NO price input). **Price, FII/MF flows, ratings and buy-calls NEVER move IV** — they move live MoS + Upside (cols I/J/K) only. A "dynamic IV" that drifts with the quote would make the dashboard buy high and sell low. 8. **Sell ₹ + Upside are written for every NON-FOREVER verdict — never blank them (Chairman rule 2026-06-13).** WATCH / AVOID / TOO_HARD each carry a numeric **Sell ₹ = fair-value target (IV-high)** AND an **Upside%** `=(Sell−Live)/Live` (honestly negative when the price is above fair value), alongside the WATCH buy-below entry trigger. ONLY FOREVER/COMPOUND show "DON'T SELL" / "∞ hold" (lifelong hold; sell only on thesis-break, moat erosion, a better opportunity, or a cash need). Do NOT blank a Sell/Upside cell for a WATCH/AVOID name (that was a publish bug — the upside column must always render a number for non-FOREVER rows). 9. **Too-hard → DISCARD from the buy-list**, don't rank it (Buffett's three buckets: in / out / too-hard). Loss-makers with no clear path, unpredictable/rapid-change businesses → TOO_HARD quarantine. Forced inactivity is a feature. 10. **Read the article AND its comment thread** (Substack API — comments are real signal). Method-appropriate valuation (DCF for operating cos; justified-P/B for banks; distribution-yield for InvITs; mid-cycle-EPS multiple for commodity cyclicals). Always check for stock splits and validate the dossier's current_price against the live yfinance close (a stale enriched-pipeline snapshot once put a price 17% wrong). 11. **5-tier verdict** exactly one per stock: FOREVER / COMPOUND / WATCH / AVOID / TOO_HARD. **Autonomy-ladder ratification.** Ratified 2026-07-03 (PW-13): the daily loop auto-consults fresh (≤2d) RED+MATERIAL events, hard-capped at CYCLE_CONSULT_BUDGET=25/cycle, RED-first-oldest-first. L1 auto-applies; L2 IV/conviction/verdict changes including upgrades up through COMPOUND auto-apply under 82_rerank_guard. FOREVER promotion remains the sole permanent human gate. Backlog (>2d) events consult only under DRAIN_GO=1 (founder-gated). The value-digest reports these changes (email); it never grades. ## CONSULTING THE BRAIN (`data/scripts/32_consult_brain.py` — the ONE retrieval entrypoint) ```bash set -a && source /Users/Dhiraj/dev/invest/.env && set +a && /Users/Dhiraj/dev/invest/.venv/bin/python \ /Users/Dhiraj/dev/invest/data/scripts/32_consult_brain.py \ --company "" \ --model \ --step \ [--corpus ] [--entities ] [--k 8] --json-out extracted/grilling/_.json ``` - **What it does:** derives 2-3 model-aware retrieval questions from the stock context, routes internally (specific model or entities → ScopedLanceDBBackend with caller-supplied scope, **0 Azure calls**; `general` + no entities → hybrid + GPT rerank, 1 Azure call/question — the two are NEVER stacked, measured worse), RRF-merges + dedupes, and hygiene-filters to mentors' atomics/raws + `_synthesis` (hubs, MOCs, `_system`, dossiers, positions excluded; every path verified on disk). - **How to read the output:** `principles: [{claim, path, slug, citation, mentor, note_type, source_note, applies_to_model, applies_to_filter, rrf_score}]`. `claim` = the principle to apply; `citation`/`slug` = the ONLY tokens permitted in `cites_principles`; `source_note` = traceability to the raw transcript/letter. Empty `principles` → vault is thin here → ABSTAIN + flag, never pad. - **Step → lens map (binding):** circle→circle · conviction→moat+management+owner-earnings · intrinsic-value→owner-earnings+MoS · margin-of-safety→MoS+opportunity-cost · opportunity-cost→opportunity-cost · verdict→moat+circle+opportunity-cost · inversion→moat+management+MoS (disconfirming) · capital-allocation→reinvestment-runway+ROCE+allocation-discipline · sizing→kelly+conviction-cap+catastrophic-loss. Aliases: understanding=circle, iv, mos, oc. ## FINANCE-DESK SPECIALISTS (additive advisory layer — they inform; the binding CIO at 0/3/4 decides) Dispatch these sharpened skills at the stages below to SHARPEN the analysis. They are an additive, `--corpus blended`-informed advisory layer (blended surfaces desk-synthesis atomics + perspectives ALONGSIDE binding); the perspectives they surface are pitch-side / down-weighted and **NEVER reverse a `--corpus binding` verdict.** The Munger/Buffett CIO at Stages 0/3/4 stays THE arbiter. | Skill | Stage | Role | |---|---|---| | `primary-research-sentiment` | 1 | DD/sentiment harvest (ValuePickr/Reddit/concall), framed as disconfirmation-seeking | | `forensic-accounting-redflags` | 1 | governance-integrity gate → CLEAN/CAUTION/RED (CAUTION caps conviction; RED hard-fails to AVOID/TOO_HARD) | | `moat-analysis` | 3 | enriches the moat call in conviction/verdict | | `capital-allocation-judge` | 3 | 6-axis CEO scorecard; consults `--step capital-allocation --corpus blended` | | `valuation-dcf-longrunway` | 3 (& 1 step 4) | IV method for operating cos (conservative range); operationalized price-free by `80_estimate_iv.py` (multi-stage DCF) for the news-loop IV re-grade | | `bank-valuation` | 3 (& 1 step 4) | IV method for banks/NBFCs (justified-P/B); operationalized price-free by `80_estimate_iv.py` (justified-P/B / excess-return) — fixes the least-grounded IVs | | `decision-journal` | 4 | behavioral decision artifact + inversion enrichment; records sentiment-cycle locus + FOREVER re-decision cadence | | `portfolio-sizing` | 4 | Max-size (col-M) decision; consults `--step sizing --corpus blended` | ## MODEL / EFFORT TIERING (not ultracode) - New-stock dossier workers (the bulk): **Sonnet**, 1 rigorous pass each, in a **Workflow** (resumable). - v2 conviction/verdict re-grade over the FULL set: **Sonnet** workflow (judgment, vault-bound, structured output). - Inversion / strict FOREVER gate: **Opus/Fable** (few agents, high stakes, adversarial). - Fundamentals fetch + price-engine clerk + sheet publish: **mechanical** (Bash/MCP) — no model reasoning. ## STAGE 0 — Scope, ingest & understanding gate (orchestrator) - New stocks = universe (`extracted/_final_v2.json`) minus done (`ls vault/research/dossiers/`). Beware name/ticker spelling mismatches. - Per stock map: author/article (`extracted/.json`), valuation g-file (`grep extracted/valuation/v2/g*.json`), enriched financials (`grep extracted/enriched/batch_*.json` — VERIFY price vs live), 7-factor scores, v2 rank/theme. - Fetch article + comments via Substack API: `curl -s "https://.substack.com/api/v1/posts/"` → id; `curl -s ".../api/v1/post//comments?all_comments=true&token="` → `.comments[].children`. - **Understanding gate + triage:** for each name ask "would I own the whole business 10 years with the market shut?" Ground the call: `32_consult_brain.py --company "" --model --step circle` and apply the returned circle-of-competence principles (cite their slugs). Genuinely too-hard → TOO_HARD bucket, off the buy-list. Verify NSE symbol (live ≈ expected ±5%; .BO/BSE for InvITs). ## STAGE 1 — N parallel dossier workers (Workflow, Sonnet) — NEW stocks only Each writes `vault/research/dossiers/.md` to IGI-depth (read `vault/research/dossiers/IGI.md` as the template; frontmatter per `vault/CLAUDE.md`). Steps: (1) WebFetch article + Substack comments; (2) fresh web research (latest quarter, price, splits, governance); (3) **brain consult** (`32_consult_brain.py --company "" --model --step conviction --json-out extracted/grilling/_conviction.json`, then likewise `--step margin-of-safety` — both mentors arrive in one call, mentor carried per-principle; use ONLY returned slugs); (4) method-appropriate IV as a **conservative range** (ground with `--step intrinsic-value` if needed); (5) "Author's voice" + "Comment-thread red flags" sections; (6) verdict + kill-criteria (inversion) + honesty flags. **Barrier:** all dossiers exist. - **Desk specialists (advisory):** run `primary-research-sentiment` (disconfirmation-seeking DD harvest) and the `forensic-accounting-redflags` integrity gate (CLEAN/CAUTION/RED — CAUTION caps conviction, RED hard-fails to AVOID/TOO_HARD); `valuation-dcf-longrunway` / `bank-valuation` may build the conservative IV range in step 4. They inform; the binding gate decides. ## STAGE 2 — Fundamentals fetch (mechanical) — the compounding-quality data For ALL stocks (old + new), fetch via **yfinance statements** (NOT `.info` — it rate-limits): ROCE (`EBIT / (Stockholders Equity + Total Debt)`), ROE (`Net Income / Equity`), and 4-year **FCF** (`Free Cash Flow`, count positive years + latest FCF/PAT). This is the owner-earnings + returns-on-capital evidence conviction needs. Add a 0.3s sleep between tickers. Output `/tmp/fundamentals_v2.json`. ## STAGE 3 — v2 conviction & verdict re-grade (Workflow, Sonnet — judgment, vault-bound) One agent per stock over the FULL set. Each reads its dossier + gets its fundamentals (ROCE/ROE/FCF) + the **binding vault principles** — the per-stock `32_consult_brain.py` output for steps `conviction`, `margin-of-safety` and (where IV is contested) `intrinsic-value`/`verdict`; embed the returned claims+citations in the prompt, `cites_principles` ⊂ returned slugs — + the conviction rubric & MoS thresholds, then applies JUDGMENT (not a formula) and returns structured: `{understanding (in|too_hard), conviction_v2 (1-5) + rationale, roic_runway_note, iv_low/iv_base/iv_high, mos_pct, required_mos_pct, clears_bar, buy_below_v2, verdict_v2, sell_logic}`. Honest + conservative — "nothing clears the bar" is the expected answer. (Existing dossiers are frozen *inputs*; re-grading their conviction/verdict against the whole set is allowed and required.) - **Desk specialists (advisory):** `moat-analysis` sharpens the moat call, `capital-allocation-judge` runs the 6-axis CEO scorecard (`--step capital-allocation --corpus blended`), and `valuation-dcf-longrunway` / `bank-valuation` supply the IV method. They inform the re-grade; the `--corpus binding` conviction/verdict gate remains the arbiter. ## STAGE 4 — Inversion / strict FOREVER gate (Opus/Fable, adversarial) For every FOREVER *candidate*: a skeptic pulls **disconfirming** vault principles (`32_consult_brain.py --company "" --model --step inversion` — moat erosion, management failure, MoS as protection against being wrong) and checks for bias (mere-association, overconfidence, market-prediction focus), and argues the strongest case it is NOT strictly lifelong (moat that can't be lost overnight, clean owner-earnings, aligned long-horizon owner, price not heroic). Survive all axes → FOREVER; else demote. Default = demote. **No standing Chairman FOREVER overrides** — the prior IGI & CAMS override was REVOKED 2026-06-17 (both graded to WATCH on the merits; the FOREVER tier is currently EMPTY). Grade every name honestly, IGI/CAMS included, no exceptions. - **Desk specialists (advisory):** `decision-journal` records the behavioral decision artifact + inversion enrichment (sentiment-cycle locus, standing FOREVER re-decision cadence), and `portfolio-sizing` informs the Max-size (col-M) call (`--step sizing --corpus blended`). They inform; the `--corpus binding` FOREVER gate decides — desk perspectives never lift a name into FOREVER. ## STAGE 5 — Price engine as a CLERK (mechanical, optional, informational only) The Family-D engine (`data/scripts/30_d_engine.py`) may be run to answer "is a buyable entry plausible / where is the MoS line" — but it is **demoted**: volatility ≠ risk, it does NOT set verdict, conviction, or the rank. Its sheet tab (🧮 D-Engine, gid 1487890548) is annotated DEMOTED. Skip if not needed. ## STAGE 6 — Final sort & publish (mechanical, no rework) **⚠️ READ BEFORE TOUCHING THE SHEET — the cockpit is hand-tuned & LOCKED ([[feedback-sheet-is-locked]]). The live sheet is canonical; if a helper disagrees, FIX THE HELPER, never the sheet, and NEVER bypass a helper with raw `sheets_update_cells` for new/reordered rows (raw writes lose number-formats, banding, verdict colors, sparkline colors → broke the dashboard 2026-06-17). The Action Dashboard is **18 columns A–R**: A Rank·B Stock·C Company·D Verdict·E Buy-below·F Avg·G Live·H Sell·I Status·J To-buy·K Upside·L Sparkline·M Conv·N Why·O Dossier·**P P/E (TTM)·Q P/S·R EV/Sales**. Locked format spec: `dashboards/action-dashboard-style.json` (re-capture via `introspect-dashboard.js` when layout changes).** - **Rank key = lexicographic (verdict_tier [FOREVER` resolves in the Deep tab). To re-derive mos for EXISTING rows from the dashboard alone: `iv_base = buy_below / (1 − req_mos/100)`, `mos% = (iv_base − live)/iv_base × 100` (req_mos by conv: 5→10,4→15,3→25,2→40,1→55). - **PUBLISH RUNBOOK (every batch, in order):** (1) **BACK UP all 3 tabs** to `extracted/dengine/backup__/` (values+grid) — a revert point is mandatory. (2) **Re-rank the WHOLE set** + insert new rows with the CANONICAL helpers in `/Users/Dhiraj/dev/invest/tools/sheets-bridge/`: **`multi_insert_dashboard.js` is the reliable multi-row insert** (reads full grid, carries col-B author hyperlinks byte-for-byte, regenerates row-relative I/J/K/L, re-stamps A rank + O dossier link, colors new col-B by author_rgb; NEW non-Substack names → PLAIN black ticker, no hyperlink). It takes `orderFile=[{rank,ticker,verdict,conv,mos,is_new}]` + `newStocksFile={TICKER:{symbol,company,verdict,buyBelow,sell,conv,why,priceFallback,exch,(source_url+author_rgb only if Substack)}}`. **`why` MUST come from dossier `## One-line thesis`** — never Obsidian `[!info]` callouts. Writes A–O only. **Always `--dry-run` first** (manual onboarding); **the news loop runs this same runbook UNATTENDED via `82_rerank_guard.py`, where "dry-run first" becomes an automated dry-run-diff gate that ABORTS on any unexpected diff** — `82` backs up all 3 tabs, dry-runs the order, asserts ONLY row-order + col-A rank changed and each row's verdict/conv/IV matches its re-graded dossier (checksum keyed by **ticker, not row**), and auto-reverts on anomaly; the live write is armed by `RERANK_AUTO=1` (**code default OFF; ENABLED in the LaunchAgent plist 2026-06-25 → live on the scheduled loop**). Do NOT use `republish.js` (drops HYPERLINK rows) and do NOT use `add-stock.js` for batches (single-row); raw `sheets_update_cells` is BANNED for new/reordered rows. (3) Companion tabs: `multi_insert_conv.js` (🔍 Conviction & MoS v2) + `multi_insert_deep.js` (Buffett-Munger Deep Ranking — needed for dossier links). **IS_NEW RULE: in the companion order, any ticker that ALREADY exists in that companion tab (e.g. a prior-batch TOO_HARD like MAHSCOOTER, which the dashboard omits but companion tabs keep) MUST be `is_new:false` — else the deep/conv insert errors ("no row for new "). The dry-run catches it. So a carried-over TOO_HARD just gets its rank re-stamped, never re-built.** (2b) **`sync_dashboard_extras.js`** — mandatory after every `multi_insert_dashboard.js` reorder: re-key **col N (Why)** from dossier `## One-line thesis` (`data/scripts/extract_dashboard_why.py`) and **cols P/Q/R** from `extracted/research/dashboard_multiples_live.json` by ticker on col B (reorder leaves P/Q/R on stale physical rows). **Col N is now the structured news-aware quick-read** `VERDICT · ✅ best: … · ⚠️ worst: … · 📰 : ` across **EVERY dashboard row** (PR #31/#32 + col-N-for-every-row 2026-06-26): the maker is `77_synthesize_dashboard_why.py` (drives a sweep universe via `--universe sweep`), the checker `78_verify_dashboard_why.py` (Gate 8 re-derives the 📰 segment from `event_index.sqlite` so news is never fabricated and never precedes the verdict word; **Gate 7 board-alignment is ADVISORY — it RECORDS a board (mis)alignment but never fails verification**), and the **sanctioned single-column writer `tools/sheets-bridge/write_col_n.mjs`** via `79_publish_col_n.py`. **col-N is published for EVERY row — including AVOID / board-contradiction / `needs_review` names, analysed and filled exactly like any other stock. The binding Munger/Buffett CIO (vault) verdict is PRIMARY and is what col-N shows; the 56-director board panel is ADVISORY and NEVER vetoes col-N publication.** 79 publishes whenever a VALID col-N can be synthesized and skips ONLY: `verdict==NEEDS_REVIEW`, a genuinely THIN dossier (BOTH best AND worst NEEDS_REVIEW), no rendered string, or head_overflow. A board contradiction / governance flag / within-tier `needs_review` is a CONTESTED GRADE that still publishes the current verdict's col-N and is RECORDED for human adjudication (78's `board_contradictions` + `81_audit_dashboard_consistency.py`), never withheld. The 📰 clause is verdict-NEUTRAL reportage (`coln_news_segment.py`, ~80-char budget), appended LAST so truncation never eats verdict/best/worst. On an L1 head edit, `71_refresh_orchestrator.py` chains 77 re-synth → 79 re-publish (col-N-only). **There are now TWO sanctioned single-column writers: `write_col_n.mjs` (col N) and `write_col_l.mjs` (col L, 1-yr-trend SPARKLINE, PR #30)** — each with a single-column assert + inverted checksum (excluded live-col set `{6,8,10,11,13,18}`) + per-row diff + backup + auto-revert + env flag (`COL_N_DASHBOARD_WRITE=1` / `COL_L_DASHBOARD_WRITE=1`); `lib/dashboard-format.js` now renders a diagnosable `—` sparkline fallback instead of a silent blank. (4) **Lock formatting:** if layout changed, **`introspect-dashboard.js`** → refresh `dashboards/action-dashboard-style.json` (must be **18-col A–R**); then **`lock-dashboard-style.js`** to extend banding/CF — running lock with a stale capture corrupts the sheet. (5) `link-authors.js` only if Substack names were added. (6) Reindex (next bullet) → **reload daemon** → verify. - Values: conviction = conv_v2, buy-below = buy_below_v2 (MoS-gate), verdict = verdict_v2; FOREVER/COMPOUND → Sell "DON'T SELL" (Upside "∞ hold"); **WATCH/AVOID/TOO_HARD → numeric Sell = iv_high** (rule 8 — NEVER blank a non-FOREVER Sell/Upside; Upside formula `=IF($D="FOREVER","∞ hold",TEXT(($H-$G)/$G,"+0%;-0%"))` needs a numeric Sell). **NEVER hand-paint C/J/K — they auto-color via native conditional formatting** (K&C green when (H−G)/G>50% or FOREVER/COMPOUND, yellow 30–50%; J yellow when within 20% of buy-below; AVOID/TOO_HARD never colored). E/F/G/H must be NUMBER-typed (₹#,##0). `sheet-exec.js` runs generic ops. - New dossiers → embed into RAG: `.venv/bin/python data/scripts/26_build_lancedb_index.py --vault vault --db vault/.lancedb` (this script auto-reloads the warm daemon; confirm `/health` after). - **🔍 Conviction & MoS v2 (gid 1264181600):** rewrite the full per-stock table (rank, ROCE/ROE, FCF, IV range, MoS%, req MoS%, clears-bar, buy-below, verdict, conviction rationale, sell logic). - **⚙️ Machinery v2 (gid 49292954):** the documented process — update only if the machinery itself changes. - **Buffett-Munger Deep Ranking (gid 508986127):** re-stamp col A = new rank + col I = verdict for ALL, then `sortRange` by rank (so dashboard "view" hyperlinks → row = rank+1 resolve). Add rows for new stocks (C&W prose). - Back up the prior engine/grade state (e.g. `extracted/dengine/backup_v1/`). Sync `avgCost` from INDmoney (`mcp__indmoney__networth_holdings IND_STOCK`: avg = invested_amount/total_units) for held names. - Update memory ([[reference-paise-se-paisa-sheet]]) with the new order + FOREVER finding + whether anything cleared the MoS bar. ## KEY REGISTRY - Sheet fileId `1N87younF990u-YGMOAiT8q6X-EtZ3jVovlWCF44orEY`; tabs: **Action Dashboard 1722681272**, **🔍 Conviction & MoS v2 1264181600**, **⚙️ Machinery v2 49292954**, Buffett-Munger Deep Ranking 508986127, 🧮 D-Engine 1487890548 (demoted), Final Ranking v2 528383543, Stock Picks 747182097. - Scripts: brain consult `data/scripts/32_consult_brain.py` (the BINDING gate — scoped+cited, see CONSULTING THE BRAIN); free-form vault RAG `29_vault_chat.py` (ad-hoc Q&A only); index `26_build_lancedb_index.py`; price-engine clerk `30_d_engine.py` (demoted); fundamentals = yfinance statements (ROCE/ROE/FCF, not `.info`). - **Dynamic-IV + news machinery (PR #30–#34, the `news-results-refresh` loop drives these):** `data/scripts/80_estimate_iv.py` (price-INDEPENDENT fundamental IV by `brain_model`: multi-stage DCF for compounders / justified-P/B for banks-NBFC-insurance / mid-cycle DCF for cyclicals; binding-brain-grounded slugs; `compute_iv` is a cold-start fallback only — `--test` proves two prices → identical IV); `data/scripts/coln_iv_event_gate.py` (earning-power-vs-sentiment discriminator — only a structural results delta / capacity / durable order-book / restatement arms an IV re-grade; price/FII/MF/ratings/buy-calls → False); `data/scripts/82_rerank_guard.py` (the ONLY thing allowed to re-rank the LOCKED dashboard — 3-tab backup + dry-run-diff + ticker-keyed checksum vs the re-graded dossiers + auto-revert, behind `RERANK_AUTO=1`, **default-OFF**, `--self-test`; **invoked in the loop by `73` stage 3c** gated by RERANK_AUTO + brain-health + ≥1 L1, never from `71`); `data/scripts/sync_col_dm.py` + `tools/sheets-bridge/write_col_dm.mjs` (sanctioned col-D(verdict)/col-M(conviction) sync — reconciles the carried D/M cells to the dossier oracle so a guarded re-rank passes 82's carried-cell assertion; default dry-run, `COL_DM_DASHBOARD_WRITE=1` to write; 2-column assert + inverted checksum + per-row diff + backup + auto-revert; `--test`/`--self-test`); `data/scripts/81_audit_dashboard_consistency.py` (read-only daily drift auditor — re-derives every col-N cell / verdict word / 📰 / rank-position vs the source of truth, WRITES NOTHING, gates exit on class-1/2/5; `--strict` gates all); `data/scripts/coln_news_segment.py` (read-only 📰 segment — latest MATERIAL event from `event_index.sqlite` → dated factual verdict-neutral clause; never fabricates). - Helpers in `/Users/Dhiraj/dev/invest/tools/sheets-bridge/`: `add-stock.js` (new styled row), `republish.js` (formula-preserving reorder + overrides), `sheet-exec.js` (generic ops runner), `verify-row.js`, `clear-row.js`, `lock-dashboard-style.js`, `introspect-dashboard.js` (capture live format → `dashboards/action-dashboard-style.json`), `sync_dashboard_extras.js` (post-reorder col N + P/Q/R by ticker), `multi_insert_dashboard.js`, `add_multiples_columns.js`. **Sanctioned single-column writers (single-column assert + inverted checksum + auto-revert + env flag): `write_col_n.mjs` (col N) and `write_col_l.mjs` (col L).** `lib/dashboard-format.js` (shared row-cell builder; diagnosable `—` sparkline fallback). - **CONVICTION RUBRIC (1-5, judgment within gates, price-independent):** 5 = wide durable moat + pristine high ROCE/ROE (≥25%) + clean multi-year FCF + long reinvestment runway + aligned mgmt (almost never). 4 = strong moat + high returns + clean owner-earnings + good mgmt. 3 = real but narrower moat + good returns + reasonably clean FCF + decent runway. 2 = partial moat OR lumpy/weak FCF OR returns near cost of capital OR short/unproven. 1 = no durable moat (commodity/replicable/no pricing power). Gates: no-moat→1; weak-FCF→cap2; ROIC<~12%→cap2; bank-below-Ke→cap2; InvIT→cap2. **MoS thresholds:** conv5 ≥10%, conv4 ≥15%, conv3 ≥25%, conv2 ≥40%, conv1 ≥55%. - Verdict colors (Dashboard col D, rows 4-60): FOREVER green, COMPOUND blue #c9daf8, WATCH amber, AVOID red. E/F/G/H must be NUMBERS (₹#,##0 format) for the live GOOGLEFINANCE/Status/sparkline engine to work.