Investor Letter Writer

Investment Memo Skill

Reference Source

• Type: Uploaded artifact (two reference PDFs)
• Reference artifact type: PDF
• Reference File Type: PDF
• Primary language: English (Latin script)
• Reference fonts: Times New Roman (narrative memo), Helvetica (deal memo)

Supported Outputs

Default output: DOCX unless user explicitly requests another format.

Output Philosophy

Investment memos from both references are plain, text-first documents — black text on white paper, no cover page, no colored backgrounds, no styled boxes, no decorative elements. The formatting should be invisible; the analysis should carry all the weight.

Workflow Overview

1. Determine memo type — thematic memo (default) vs. venture deal memo vs. public equity memo
2. Gather inputs — company name, ticker, sector, data the user provides
3. Conduct analysis using references/analysis_framework.md
4. Draft content following references/structure_contract.md
5. Apply formatting per references/style_contract.md
6. Produce artifact in requested format (DOCX default)

Memo Type Selection

Critical Style Rules

Read references/style_contract.md for the full specification. These rules are non-negotiable:

• NO COVER PAGE — document starts immediately with the memo header block
• NO COLOR — strictly black text on white background throughout
• Times New Roman (or equivalent serif) for ALL text — body, headings, quotes, footer, captions
• NO running headers — blank page headers
• NO styled boxes, borders, or background fills — no gray backgrounds, no colored accent bars
• NO decorative elements — no geometric shapes, no badges, no styled quote blocks with left borders
• Quote blocks: simple indented italic text, no border or background
• NO formal tables — present data as inline text or bullet lists; tables only when absolutely necessary with minimal formatting
• Footer: copyright notice left, page number centered, "All Rights Reserved" right

Section Heading Style

For narrative/thematic memos (default):

• Use underlined text on its own line: Understanding AI, Can AI Think?
• NOT numbered, NOT bold, NOT large font — same size as body text with underline

For structured deal memos:

• Use bold text on its own line: Introduction, Competition, Deal Terms
• NOT numbered, NOT displayed in large font

Structure Contract

Read references/structure_contract.md for the full document structure including section hierarchy, header/footer rules, page break behavior, and the three memo type templates.

Key structural rules:

• No table of contents
• No executive summary for thematic memos (opening paragraph serves this purpose)
• Continuous text flow between sections — no forced page breaks
• Legal disclaimers at the end, separated by a horizontal rule, in italic
• Exhibits numbered sequentially: Exhibit 1, Exhibit 2, etc.

Voice & Tone Guidelines

Narrative/Thematic Memos

Write like a top value/credit investor writing to LPs: first-person, conversational, intellectually honest. Use "I believe", "I've been thinking", "I recently learned". Ask provocative questions. Draw historical parallels. Acknowledge uncertainty.

Deal Memos

Write like a top-tier VC analyst: direct, concise, bullet-oriented. State facts quickly. Lead with recommendation. Every sentence advances the investment case or flags a risk.

Exhibit Guidance

Include exhibits when quantitative analysis strengthens the case:

• Market size/growth as inline text or simple line charts
• Competitive landscape as bullet lists, not matrices
• Financial metrics as bolded inline figures or bullet points

Reference exhibits in text: "(see Exhibit 3)". Keep exhibits simple — plain line charts preferred.

Data Sourcing Strategy

When data is needed:

1. Use available financial data sources for public companies (stock prices, financials, ratios)
2. Search the web for company-specific information and market data
3. Cite sources inline — external data strengthens credibility
4. Flag missing data explicitly rather than fabricating numbers

Confidentiality Marking

Add a confidentiality footer only when the memo contains non-public information:

• "Confidential — For Internal Use Only" for IC memos
• "Highly Confidential" for live deal materials
• Omit for public thematic memos intended for broad distribution

Output-Specific Notes

DOCX (Default)

Produce a native Word document with:

• Times New Roman applied consistently to all text elements
• Underlined section headings (narrative) or bold headings (structured)
• Memo header with horizontal rule separator
• Page numbers centered in footer
• Copyright and rights notice in footer
• Left-aligned body text
• Proper bullet list formatting
• Italic indented blocks for quotes
• Horizontal rule before legal disclaimers section

PDF

Render the DOCX to PDF preserving all formatting. The result should match the plain, text-first appearance of both reference memos.

PPTX (Summary Deck)

When the user requests a slide deck instead of a memo document:

• Condense each major section to 1-2 slides
• Lead with the investment thesis on the title slide
• Use bullet points, not paragraphs
• Include 1-2 key exhibits per slide
• End with recommendation/next steps slide
• Use Times New Roman throughout, black text on white background, plain formatting