Portfolio Review

/portfolio-review — Unified Portfolio Review

This skill is the canonical investment-officer review workflow.

Default behavior:

1. run a readiness check,
2. run the core diagnostic,
3. flag hard-gate breaches and action-triggering thresholds,
4. produce a corrective path when action is required,
5. verify the primary path with internal MCP tools,
6. explain every action-triggering metric in plain language.

This is not a diagnostic-only note anymore. When a trigger breaches, the review must recommend a path.

Internal MCP Tool Map

• Baseline and state: ghostfolio.portfolio(operation="summary"), portfolio-analytics.validate_account_taxonomy, portfolio-analytics.get_condensed_portfolio_state
• Core risk: portfolio-analytics.analyze_portfolio_risk, portfolio-analytics.analyze_hypothetical_portfolio_risk
• Drift and TLH: portfolio-analytics.analyze_allocation_drift, portfolio-analytics.analyze_bucket_allocation_drift, portfolio-analytics.find_tax_loss_harvesting_candidates
• Practitioner layers: portfolio-analytics.compute_ruin_scenario, portfolio-analytics.classify_barbell_buckets, market-intel-direct.get_shiller_cape, market-intel-direct.compute_market_temperature, market-intel-direct.rank_convex_candidates
• Illiquid overlay inputs: risk-model-config skill plus finance-graph.get_net_worth
• Hard-gate overlay: practitioner-heuristics skill
• Corrective-action workflow: rebalance skill
• Tax overlay: household-tax.assess_exact_support only for narrow supported exact cases
• Context: market-intel-direct.get_market_snapshot, market-intel-direct.search_market_news, policy-events.*, sec-edgar.*

Review Readiness

Run these checks before writing the review. If a blocking layer fails, state that the review is incomplete and surface the gap near the top.

Blocking:

• portfolio-analytics.validate_account_taxonomy(strict=false)
• portfolio-analytics.get_condensed_portfolio_state
• portfolio-analytics.analyze_portfolio_risk
• portfolio-analytics.classify_barbell_buckets
• portfolio-analytics.find_tax_loss_harvesting_candidates
• finance-graph.get_net_worth
• market-intel-direct.get_shiller_cape
• market-intel-direct.compute_market_temperature
  • require status == "complete" for a complete temperature read

If compute_market_temperature.status == "incomplete", do not present the temperature score as if it were complete. Report the missing components explicitly.

Action-Triggering Metrics

These metrics trigger corrective action, not just commentary.

Hard triggers:

• ES above 2.5%
• illiquidity above 25% of household net worth
• employer-linked liquid exposure above 15%

Threshold triggers:

• hyper-safe below 15%
• convex below 10%
• fragile-middle above 70%
• material allocation drift outside IPS bands
• actionable TLH set above the configured threshold

Context-only metrics:

• market temperature
• ruin scenarios
• Student-t fit
• volatility regime

These change urgency and sequencing, but they do not independently force trades.

Execution Workflow

1. Establish scope and baseline

• Run ghostfolio.portfolio(operation="summary").
• Run portfolio-analytics.validate_account_taxonomy.
• Run portfolio-analytics.get_condensed_portfolio_state.
• For scoped calls, pass scope_account_types as a native list value.

2. Run the quantitative risk engine

• If illiquid or private holdings matter, run risk-model-config first and pass illiquid_overrides into portfolio-analytics.analyze_portfolio_risk.
• Use risk_model="auto" and include_fx_risk=true.
• If risk.status == "critical" or illiquid_overlay.adjusted_es_975_1d > 0.025, issue RISK ALERT LEVEL 3.
• If risk.status == "unreliable", state clearly that the tail metrics are directional only.
• If include_decomposition=true is needed for a corrective path, use it before ranking sells.

3. Run hard gates

Follow practitioner-heuristics:

• ES gate
• illiquidity gate
• employer concentration gate

If any hard gate fails, the review must say so before advisory context.

4. Run practitioner layers

• portfolio-analytics.compute_ruin_scenario
• portfolio-analytics.classify_barbell_buckets
  • use safe_gap_pct/value, convex_gap_pct/value, and fragile_excess_pct/value
• market-intel-direct.get_shiller_cape
• market-intel-direct.compute_market_temperature
• When convex is below target, run market-intel-direct.rank_convex_candidates

5. Produce corrective path when required

If any hard trigger or threshold trigger breaches, the review MUST call the rebalance skill logic and produce:

• Primary Path
• Lower-Tax Alternative
• Verification
• Remaining Caveats

The primary path must be verified with portfolio-analytics.analyze_hypothetical_portfolio_risk before it is presented as the recommendation.

6. Plain-language explanations

For every metric that directly triggers corrective action, include a short block with:

• What this metric means
• Why it matters
• Threshold breached
• Why the recommended action addresses it

Apply this to:

• ES
• illiquidity
• employer concentration
• hyper-safe gap
• convex gap
• fragile-middle excess
• any drift metric that directly drives a trade recommendation

7. Tax and implementation overlay

• Run portfolio-analytics.find_tax_loss_harvesting_candidates
• Use scope_account_types=["brokerage"] for brokerage-only TLH scans
• If material taxable decisions are involved, check household-tax.assess_exact_support first and only use the exact tools when the case is supported

8. Optional context

• Macro: market-intel-direct.get_market_snapshot, market-intel-direct.search_market_news
• Policy: policy-events.get_recent_bills, policy-events.get_federal_rules
• Disclosure/insider context for concentrated names: sec-edgar.sec_edgar_filing, sec-edgar.sec_edgar_insider

Output Contract

The review output should use this structure when action is required:

## Portfolio Review — [Date]

### Review Readiness
- [complete / incomplete]
- Blocking gaps: [...]

### Summary
- Total liquid value: $X
- Household net worth: $Y
- Binding constraint: [ES / illiquidity / employer / none]

### Triggered Metrics
- [metric]: [status] | [threshold] | [brief explanation]

### Plain-Language Metric Explanations
- [one short block per triggering metric]

### Corrective Path
- Primary path: [wrapper-aware actions]
- Lower-tax alternative: [if different]
- Advanced alternatives: [for example options-based convex ideas, if allowed]

### Verification
- Proposed ES(97.5%): X.XX%
- Verification pass: true/false
- Post-plan barbell: X% safe / X% convex / X% fragile

### Remaining Caveats
- [tool gaps, tax caveats, mapping caveats, incomplete context]

If no hard trigger or threshold trigger breaches, keep the review diagnostic and do not invent trades.

Constraints

• Advisory only. No trading authority.
• Do not fabricate data or approximate missing blocking inputs.
• ES <= 2.5% remains the binding constraint.
• Do not present a corrective path as the recommendation unless it has been verified with analyze_hypothetical_portfolio_risk.