@v587d/capital-generation 2.6.5 → 2.7.1

package/selected-skills/china-stock-research-skills/skills/valuation-investment-strategy/SKILL.md

@@ -0,0 +1,55 @@
+---
+name: valuation-investment-strategy
+description: Convert a source-backed A-share research view into valuation scenarios and an investment plan. Use this skill after strategy, business, financial, industry, and risk work is complete. Choose methods that fit the business model and explain assumptions with accessible source links.
+---
+
+# Valuation Investment Strategy
+
+Build scenario-based valuation only after the factual base is complete.
+
+## Non-Negotiable Rules
+
+- Do not invent inputs when public evidence is missing.
+- Tie every key assumption to a public source or a clearly labeled analytical assumption.
+- Use scenario analysis instead of false precision.
+- Keep facts separate from judgment and trading plan.
+- Default every intermediate and final output to Simplified Chinese unless the user explicitly requests another language.
+
+## Read First
+
+- `skills/shared/references/citation-standard.md`
+- `skills/shared/references/research-output-template.md`
+- `skills/shared/references/analysis-pattern-selector.md`
+- `skills/shared/references/language-output-standard.md`
+- `skills/shared/templates/valuation-scenario-table.md`
+- `skills/valuation-investment-strategy/references/method-selection.md`
+- If the company is in a business-model transition or asset-heavy ramp, also load the matching shared overlay.
+- If the company is an IDC or AI-compute transition case, `skills/shared/references/idc-heavy-asset-transition-overlay.md` and `skills/valuation-investment-strategy/references/idc-valuation-overlays.md` are optional example overlays.
+
+## When to Use
+
+- A full company view already exists and now needs a valuation frame.
+- The company is in transition and simple PE is not enough.
+- The report needs bear, base, and bull cases with explicit assumptions.
+
+## Workflow
+
+1. Pull outputs from the previous five skills.
+2. Select the right method: peer multiple, SOTP, EV/EBITDA, PB, DCF, or asset-based.
+3. Define a scenario table with revenue, margin, capex, utilization, and balance-sheet assumptions.
+4. Link every assumption to the supporting source or mark it as an analytical estimate.
+5. Produce a value range, thesis checkpoints, and invalidation triggers.
+
+## Required Output
+
+- `事实`: valuation-relevant facts, peer set, asset base, financing constraints
+- `解读`: which method is most suitable and why
+- `待验证问题`: missing occupancy, margin, capex, or disposal assumptions
+- `Scenario Table`: bear, base, bull with linked assumptions
+- `Investment Plan`: build condition, stop condition, and thesis-confirmation milestones
+
+## Boundaries
+
+- Do not rebuild the raw company fact base from scratch.
+- Do not present unsupported precision such as exact fair value without ranges.
+- Do not ignore risk and balance-sheet constraints.

package/selected-skills/china-stock-research-skills/skills/valuation-investment-strategy/references/idc-valuation-overlays.md

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+# IDC Valuation Overlay
+
+Use this guide when valuing an IDC or AI-compute transition story.
+
+## Source Map
+
+| Source | What It Supports | URL |
+| --- | --- | --- |
+| Company annual and interim reports | Asset base, capex, debt, segment mix, disclosed utilization | https://www.cninfo.com.cn/new/index |
+| Financing filings | Funding assumptions, project economics, dilution path | https://www.cninfo.com.cn/new/index |
+| Exchange disclosures of peers | Peer multiple context and business-model comparability | https://www.cninfo.com.cn/new/index |
+| MIIT / NDRC | Policy support that affects industry narrative and regional node logic | https://www.miit.gov.cn/ |
+
+## Method Hints
+
+- Use SOTP when the company still has legacy engineering or manufacturing assets plus new IDC assets.
+- Use EV/EBITDA carefully because heavy capex can make EBITDA look better than true owner economics.
+- Use asset-based or replacement-cost framing only when there is a realistic path to monetization and power access.
+- Use DCF only if utilization, ramp-up, and financing assumptions are explicitly disclosed or can be reasonably bounded.
+
+## Inputs to Force
+
+- Asset-loading or utilization path
+- Segment mix between one-off delivery and recurring operation
+- Debt cost and maturity profile
+- Additional capex still required before steady-state operation
+- Probability of project delay, contract revision, or slower ramp
+
+## Output Reminder
+
+Show which valuation upside depends on execution, which depends on financing relief, and which depends on real recurring monetization.

package/selected-skills/china-stock-research-skills/skills/valuation-investment-strategy/references/method-selection.md

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+# Valuation Method Selection
+
+Choose the method that fits the business model and data quality.
+
+| Method | Best For | Watch Out For |
+| --- | --- | --- |
+| PE | Stable profit businesses | Distorted by transition losses or one-offs |
+| EV/EBITDA | Asset-heavy and infrastructure-like assets | EBITDA may ignore capex burden |
+| PB | Asset-driven or cyclical balance-sheet stories | Book value may lag real economics |
+| SOTP | Mixed business models or transition stories | Requires careful boundary setting |
+| DCF | Businesses with visible cash ramp | False precision when cash flow is unstable |
+| Asset-based | Real estate, data-center, resource assets | Requires realistic utilization and discount |
+
+For transition names, start with SOTP or scenario-based EV/EBITDA plus a balance-sheet check.

package/selected-skills/investment-skills/.github/workflows/validate.yml

@@ -0,0 +1,25 @@
+name: Validate skill
+
+on:
+  pull_request:
+  push:
+    branches:
+      - main
+
+permissions:
+  contents: read
+
+jobs:
+  validate:
+    runs-on: ubuntu-latest
+    steps:
+      - name: Check out repository
+        uses: actions/checkout@df4cb1c069e1874edd31b4311f1884172cec0e10 # v6.0.3
+      - name: Set up Python
+        uses: actions/setup-python@ece7cb06caefa5fff74198d8649806c4678c61a1 # v6.3.0
+        with:
+          python-version: "3.11"
+      - name: Validate package
+        run: python3 skills/buffett-investment-framework/scripts/framework.py validate
+      - name: Compile runtime
+        run: python3 -m py_compile skills/buffett-investment-framework/scripts/framework.py

package/selected-skills/investment-skills/.tbd/config.yml

@@ -0,0 +1,107 @@
+tbd_format: f06
+tbd_version: 0.4.1
+# tbd_upgrades: tbd versions that have run `tbd setup` in this repo (oldest first);
+# tbd_version above is the most recent. Informational; updated automatically by setup.
+tbd_upgrades:
+  - version: 0.4.1
+    at: 2026-07-22T16:27:06.123Z
+display:
+  id_prefix: isk
+sync:
+  branch: tbd-sync
+  remote: origin
+  storage: git-common-dir-v1
+settings:
+  auto_sync: false
+  doc_auto_sync_hours: 24
+  use_gh_cli: true
+# Documentation cache: the docs tbd serves (guidelines, shortcuts, templates), synced
+# into the gitignored .tbd/docs/ cache. Managed with `tbd docs` (run `tbd docs --help`).
+# files: destination path (under .tbd/docs/) -> source docref. Common source forms:
+#   - internal:<path>                          bundled with tbd (e.g. internal:guidelines/typescript-rules.md)
+#   - github:owner/repo@ref//path/to/file.md   a file in a git repo (gitlab: too; @ref optional)
+#   - https://host/path/file.md                a plain URL, kept verbatim
+#   Full docref grammar: `tbd docs show docref-format`.
+# lookup_path: doc lookup search order, like shell $PATH (earlier paths win).
+# Refresh the cache with `tbd docs sync`; it also auto-syncs when stale
+# (settings.doc_auto_sync_hours, default 24; 0 disables).
+docs_cache:
+  lookup_path:
+    - .tbd/docs/shortcuts/system
+    - .tbd/docs/shortcuts/standard
+  files:
+    references/tbd-docs.md: internal:tbd-docs.md
+    references/tbd-design.md: internal:tbd-design.md
+    shortcuts/system/shortcut-explanation.md: internal:shortcuts/system/shortcut-explanation.md
+    shortcuts/system/skill-baseline.md: internal:shortcuts/system/skill-baseline.md
+    shortcuts/system/skill-brief.md: internal:shortcuts/system/skill-brief.md
+    shortcuts/system/skill-minimal.md: internal:shortcuts/system/skill-minimal.md
+    shortcuts/standard/address-pr-review.md: internal:shortcuts/standard/address-pr-review.md
+    shortcuts/standard/agent-handoff.md: internal:shortcuts/standard/agent-handoff.md
+    shortcuts/standard/checkout-third-party-repo.md: internal:shortcuts/standard/checkout-third-party-repo.md
+    shortcuts/standard/code-cleanup-all.md: internal:shortcuts/standard/code-cleanup-all.md
+    shortcuts/standard/code-cleanup-docstrings.md: internal:shortcuts/standard/code-cleanup-docstrings.md
+    shortcuts/standard/code-cleanup-tests.md: internal:shortcuts/standard/code-cleanup-tests.md
+    shortcuts/standard/code-review-and-commit.md: internal:shortcuts/standard/code-review-and-commit.md
+    shortcuts/standard/coding-spike.md: internal:shortcuts/standard/coding-spike.md
+    shortcuts/standard/create-or-update-pr-simple.md: internal:shortcuts/standard/create-or-update-pr-simple.md
+    shortcuts/standard/create-or-update-pr-with-validation-plan.md: internal:shortcuts/standard/create-or-update-pr-with-validation-plan.md
+    shortcuts/standard/implement-beads.md: internal:shortcuts/standard/implement-beads.md
+    shortcuts/standard/merge-upstream.md: internal:shortcuts/standard/merge-upstream.md
+    shortcuts/standard/new-architecture-doc.md: internal:shortcuts/standard/new-architecture-doc.md
+    shortcuts/standard/new-guideline.md: internal:shortcuts/standard/new-guideline.md
+    shortcuts/standard/new-plan-spec.md: internal:shortcuts/standard/new-plan-spec.md
+    shortcuts/standard/new-qa-playbook.md: internal:shortcuts/standard/new-qa-playbook.md
+    shortcuts/standard/new-research-brief.md: internal:shortcuts/standard/new-research-brief.md
+    shortcuts/standard/new-shortcut.md: internal:shortcuts/standard/new-shortcut.md
+    shortcuts/standard/new-validation-plan.md: internal:shortcuts/standard/new-validation-plan.md
+    shortcuts/standard/plan-implementation-with-beads.md: internal:shortcuts/standard/plan-implementation-with-beads.md
+    shortcuts/standard/pr-review-workflows.md: internal:shortcuts/standard/pr-review-workflows.md
+    shortcuts/standard/precommit-process.md: internal:shortcuts/standard/precommit-process.md
+    shortcuts/standard/review-code-python.md: internal:shortcuts/standard/review-code-python.md
+    shortcuts/standard/review-code-typescript.md: internal:shortcuts/standard/review-code-typescript.md
+    shortcuts/standard/review-code.md: internal:shortcuts/standard/review-code.md
+    shortcuts/standard/review-github-pr.md: internal:shortcuts/standard/review-github-pr.md
+    shortcuts/standard/revise-all-architecture-docs.md: internal:shortcuts/standard/revise-all-architecture-docs.md
+    shortcuts/standard/revise-architecture-doc.md: internal:shortcuts/standard/revise-architecture-doc.md
+    shortcuts/standard/setup-github-cli.md: internal:shortcuts/standard/setup-github-cli.md
+    shortcuts/standard/suggest-upstream-improvements.md: internal:shortcuts/standard/suggest-upstream-improvements.md
+    shortcuts/standard/sync-failure-recovery.md: internal:shortcuts/standard/sync-failure-recovery.md
+    shortcuts/standard/update-specs-status.md: internal:shortcuts/standard/update-specs-status.md
+    shortcuts/standard/welcome-user.md: internal:shortcuts/standard/welcome-user.md
+    guidelines/backward-compatibility-rules.md: internal:guidelines/backward-compatibility-rules.md
+    guidelines/bun-monorepo-patterns.md: internal:guidelines/bun-monorepo-patterns.md
+    guidelines/cli-agent-skill-patterns.md: internal:guidelines/cli-agent-skill-patterns.md
+    guidelines/commit-conventions.md: internal:guidelines/commit-conventions.md
+    guidelines/common-doc-guidelines.md: internal:guidelines/common-doc-guidelines.md
+    guidelines/convex-limits-best-practices.md: internal:guidelines/convex-limits-best-practices.md
+    guidelines/convex-rules.md: internal:guidelines/convex-rules.md
+    guidelines/electron-app-development-patterns.md: internal:guidelines/electron-app-development-patterns.md
+    guidelines/error-handling-rules.md: internal:guidelines/error-handling-rules.md
+    guidelines/general-coding-rules.md: internal:guidelines/general-coding-rules.md
+    guidelines/general-comment-rules.md: internal:guidelines/general-comment-rules.md
+    guidelines/general-eng-agent-principles.md: internal:guidelines/general-eng-agent-principles.md
+    guidelines/general-tdd-guidelines.md: internal:guidelines/general-tdd-guidelines.md
+    guidelines/general-testing-rules.md: internal:guidelines/general-testing-rules.md
+    guidelines/golden-testing-guidelines.md: internal:guidelines/golden-testing-guidelines.md
+    guidelines/pnpm-monorepo-patterns.md: internal:guidelines/pnpm-monorepo-patterns.md
+    guidelines/python-cli-patterns.md: internal:guidelines/python-cli-patterns.md
+    guidelines/python-modern-guidelines.md: internal:guidelines/python-modern-guidelines.md
+    guidelines/python-rules.md: internal:guidelines/python-rules.md
+    guidelines/release-notes-guidelines.md: internal:guidelines/release-notes-guidelines.md
+    guidelines/supply-chain-hardening.md: internal:guidelines/supply-chain-hardening.md
+    guidelines/tbd-sync-troubleshooting.md: internal:guidelines/tbd-sync-troubleshooting.md
+    guidelines/typescript-cli-tool-rules.md: internal:guidelines/typescript-cli-tool-rules.md
+    guidelines/typescript-code-coverage.md: internal:guidelines/typescript-code-coverage.md
+    guidelines/typescript-rules.md: internal:guidelines/typescript-rules.md
+    guidelines/typescript-sorting-patterns.md: internal:guidelines/typescript-sorting-patterns.md
+    guidelines/typescript-yaml-handling-rules.md: internal:guidelines/typescript-yaml-handling-rules.md
+    templates/architecture-doc.md: internal:templates/architecture-doc.md
+    templates/plan-spec.md: internal:templates/plan-spec.md
+    templates/qa-playbook.md: internal:templates/qa-playbook.md
+    templates/research-brief.md: internal:templates/research-brief.md
+    references/agent-platform-integration.md: internal:references/agent-platform-integration.md
+    references/agent-skill-bundle-publication.md: internal:references/agent-skill-bundle-publication.md
+    references/agent-skill-distribution.md: internal:references/agent-skill-distribution.md
+    references/docmap-format.md: internal:references/docmap-format.md
+    references/docref-format.md: internal:references/docref-format.md

package/selected-skills/investment-skills/LICENSE

@@ -0,0 +1,21 @@
+MIT License
+
+Copyright (c) 2026 finterm.ai
+
+Permission is hereby granted, free of charge, to any person obtaining a copy
+of this software and associated documentation files (the "Software"), to deal
+in the Software without restriction, including without limitation the rights
+to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
+copies of the Software, and to permit persons to whom the Software is
+furnished to do so, subject to the following conditions:
+
+The above copyright notice and this permission notice shall be included in all
+copies or substantial portions of the Software.
+
+THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
+AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
+OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE
+SOFTWARE.

package/selected-skills/investment-skills/Makefile

@@ -0,0 +1,29 @@
+# Repo tasks: skill validation and the viz poster pipeline (see viz/README.md).
+# `make` lists targets; poster targets need Google Chrome, macOS sips, and uv.
+
+.DEFAULT_GOAL := help
+.PHONY: help setup validate posters images open clean
+
+help:  ## List available targets
+	@grep -E '^[a-z][a-z-]*:.*##' $(MAKEFILE_LIST) | awk -F':.*## ' '{printf "  make %-10s %s\n", $$1, $$2}'
+
+setup: viz/vendor/elk.bundled.js  ## Fetch the elkjs runtime (once per checkout)
+
+viz/vendor/elk.bundled.js:
+	viz/vendor/fetch-elk.sh
+
+validate:  ## Validate the 65-card skill package
+	python3 skills/buffett-investment-framework/scripts/framework.py validate
+
+posters: setup  ## Render light + dark poster PNGs to viz/out
+	cd viz && ./generate-posters.sh
+
+images: setup  ## Refresh the README poster PNGs in images/
+	cd viz && ./generate-posters.sh ../images
+
+open: setup  ## Open the interactive canvas in the default browser
+	open viz/canvas-skills.html
+
+clean:  ## Remove fetched vendor files and generated posters
+	rm -f viz/vendor/elk.bundled.js viz/vendor/elkjs-license.txt
+	rm -rf viz/out

package/selected-skills/investment-skills/README.md

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+# The Investment Skills Lexicon
+
+**How great investors think, distilled from primary sources.**
+
+The primary Buffett and Berkshire corpus runs 72 documents and about 950,000 words.
+This project extracts, analyzes, and condenses it (3,809 extracted insights and roughly
+3.4 billion tokens of processing) into 65 decision cards that an agent loads 5–12 at a
+time.
+
+You can always ask an agent to “analyze this like Warren Buffett.”
+But the goal is not to role play an investor’s voice.
+Rather, we want an agent to apply the underlying frameworks and mental models used by
+that investor to real filings, memos, and theses without searching or reading the whole
+corpus into context.
+
+The idea of this project is to spend the tokens and do heavy thinking once, then reuse
+the insights in a context-efficient way.
+
+This works with Claude Code, Codex, or any agent that reads the open
+[Agent Skills](https://agentskills.io) standard.
+
+## The Buffett Investment Framework
+
+**The Buffett investment framework** distills \~2,300 pages of primary Buffett and
+Berkshire writing into **65 evidence-bounded decision cards** an agent can use.
+
+It is an agent skill for **evidence-bounded financial analysis, investment-memo review,
+and thesis evaluation**. It offers **three focused workflows** that surface assumptions,
+counterarguments, missing evidence, and invalidation conditions.
+
+The framework helps an agent reason about a business.
+It does not issue buy, sell, hold, entry-price, position-size, or trade instructions.
+The complete agent instructions are in
+[SKILL.md](skills/buffett-investment-framework/SKILL.md), which is self-contained once
+installed.
+
+| Stage | Contents | Scale |
+| --- | --- | --- |
+| Source corpus | 48 Berkshire shareholder letters (1977–2024), Greg Abel’s 2025 transition letter, the 1957–1970 Buffett Partnership letter compilation, other Buffett and Berkshire writings, *The Essays of Warren Buffett*, and *Buffett: The Making of an American Capitalist* | **72 documents (2,300 pages, 950,000 words)** |
+| Extraction | Source-native insights distilled from the corpus | **3,809 insights** |
+| Processing | Extraction and synthesis ran across Codex Sol and Claude Fable | **about 3.4 billion tokens** |
+| Skill lexicon | Final task-facing output | **65 cards · 8 modules · about 51 pages** |
+
+## A Growing Collection of Skills
+
+This “lexicon” is a growing collection of insights.
+Decades of investment thinking sit in writings, interviews, and filings that few people
+or even agents have time to analyze deeply.
+So we’re extracting these piece by piece.
+
+The first piece is the Buffett framework.
+Queued next: Munger, Graham, Marks, Fisher, Lynch, Sleep and Zakaria, Grantham,
+Greenblatt, and Druckenmiller.
+
+Check back here as we’re adding a new one each week!
+Primary sources and framework focus for each are in the [roadmap](docs/roadmap.md).
+
+## Try It
+
+Install with the [`skills` CLI](https://github.com/vercel-labs/skills) (more options
+under [Other Install Methods](#other-install-methods)):
+
+```bash
+npx skills add finterm-ai/investment-skills --skill buffett-investment-framework --yes
+```
+
+Then ask in your own words and attach the evidence.
+The skill picks the workflow and loads only the cards that fit:
+
+```text
+What are the real owner earnings in these filings?
+```
+
+```text
+Review this investment memo and tell me which claims hold up.
+```
+
+```text
+Here is my thesis on this company. What would prove it wrong?
+```
+
+Most agents load the skill from its description, so naming it is optional.
+In Codex, type `$` to mention it explicitly.
+
+## How It Works
+
+### Three Workflows
+
+| Workflow | Starting load | What it returns |
+| --- | --- | --- |
+| Financial analysis | `F01`, `F02`, `F05`, `F06`, `F07` | Filing inventory, reported-to-owner bridge, normalized segments, returns, obligations, assumptions, and blocked calculations |
+| Memo review | `D01`, `D03`, `B02`, `V01`, `V05`, `V06`, `R01`, `R07` | One dispositioned row per material claim, with counterevidence and missing evidence |
+| Thesis evaluation | `D02`, `D03`, `B01`, `B06`, `V01`, `V04`, `R01`, `R07` | Component map, mechanism and valuation tests, owner-harm paths, and invalidation conditions |
+
+The router starts with 5–8 cards, adds only material management, allocation, financing,
+or specialized overlays.
+It caps at 12 cards in one pass to preserve context and stay focused.
+
+![Map of the buffett-investment-framework package: SKILL.md entry point and router, three workflows, and 65 cards in eight modules](images/buffett-investment-framework-map.png)
+
+### Eight Modules
+
+| Module | Cards | Decision use |
+| --- | --- | --- |
+| [Decision posture](skills/buffett-investment-framework/references/01-decision-posture.md) | `D01`–`D09` | Bound competence, ownership, alternatives, concentration, and speculation. |
+| [Business economics](skills/buffett-investment-framework/references/02-business-economics.md) | `B01`–`B07` | Map cash generation, moat mechanisms, reinvestment, and structural change. |
+| [Management and governance](skills/buffett-investment-framework/references/03-management-governance.md) | `M01`–`M08` | Test conduct, contribution, incentives, controls, governance, and succession. |
+| [Financial reality](skills/buffett-investment-framework/references/04-financial-reality.md) | `F01`–`F07` | Reconcile filings to owner economics, segments, returns, and obligations. |
+| [Valuation](skills/buffett-investment-framework/references/05-valuation.md) | `V01`–`V06` | Select methods, normalize the base, test growth and sensitivity, and separate value from price. |
+| [Capital allocation](skills/buffett-investment-framework/references/06-capital-allocation.md) | `C01`–`C09` | Evaluate reserves, retention, payout, repurchase, issuance, and acquisitions. |
+| [Risk and monitoring](skills/buffett-investment-framework/references/07-risk-monitoring.md) | `R01`–`R07` | Trace permanent harm, forced action, nonlinear claims, and invalidation. |
+| [Specialized overlays](skills/buffett-investment-framework/references/08-specialized-overlays.md) | `S01`–`S12` | Add only the triggered insurance, banking, consumer, infrastructure, technology, commodity, or instrument analysis. |
+
+Every card uses the same contract: decision question, guidance, use condition,
+analytical actions, observable output, limits, readable source basis, and abbreviated
+corroboration citations.
+
+### Output Standard
+
+Every completed analysis reports:
+
+1. Question, horizon, scope, and exclusions.
+2. Evidence received and material missing inputs.
+3. The 5–12 cards loaded and why.
+4. Sourced calculations, bridges, and mechanism tests.
+5. Supported, challenged, or unresolved findings.
+6. Counterevidence and alternate mechanisms.
+7. Limits and blocked branches.
+8. Monitoring evidence and invalidation conditions.
+
+The result ends with an analytical summary.
+
+## Design Notes
+
+### How It Was Built
+
+The framework is an **editorial synthesis of published Buffett and Berkshire writings**,
+not a transcription or an attempt to imitate Buffett’s voice.
+The development corpus drew primarily from Berkshire Hathaway annual letters, Buffett’s
+2015 50th-anniversary essay, and “The Superinvestors of Graham-and-Doddsville.”
+
+The material was distilled in four steps:
+
+1. Extract claims, definitions, analytical tactics, examples, and source references
+   while preserving their source identity.
+2. Inventory the recurring decision questions before applying a product taxonomy.
+3. Reconcile overlapping questions by analytical consequence, splitting items when their
+   evidence needs or failure conditions differ.
+4. Project the result into 65 consistent cards, eight modules, and three task workflows.
+
+```mermaid
+flowchart LR
+    corpus["<b>Source corpus</b><br/>primary writings, letters,<br/>interviews, filings"]
+    extract["<b>1 · Extract</b><br/>source-native insights,<br/>identity preserved"]
+    inventory["<b>2 · Inventory</b><br/>recurring decision questions,<br/>before any taxonomy"]
+    reconcile["<b>3 · Reconcile</b><br/>overlapping questions merged<br/>or split by consequence"]
+    project["<b>4 · Project</b><br/>consistent cards, modules,<br/>and task workflows"]
+    corroborate["<b>Corroborate</b><br/>every card re-checked against<br/>the full landed collection"]
+    validate["<b>Validate</b><br/>one command: contracts,<br/>sources, routing, links"]
+    use["<b>Agent use</b><br/>router loads a small card<br/>set per task, never all"]
+
+    corpus --> extract --> inventory --> reconcile --> project
+    project --> corroborate --> validate --> use
+
+    classDef src fill:#f5f0e1,stroke:#b8a878,color:#1f2328;
+    classDef step fill:#e9f2fc,stroke:#7ba7d7,color:#1f2328;
+    classDef check fill:#e3f3ee,stroke:#6fb39c,color:#1f2328;
+    classDef out fill:#f1ecfa,stroke:#a68fd8,color:#1f2328;
+    class corpus src
+    class extract,inventory,reconcile,project step
+    class corroborate,validate check
+    class use out
+```
+
+The published cards provide representative, not exhaustive, coverage.
+The process prioritized recurring decision questions rather than attempting to map every
+passage in the source material.
+
+Each published card names one to three representative Buffett or Berkshire sources and
+the role each played: defining, supporting, implementing, illustrating, or qualifying
+the guidance, or specializing it for one context.
+These source notes explain the synthesis; they are not quotations, exhaustive literature
+reviews, independent corroboration, or a substitute for checking the original writing
+and the company evidence under analysis.
+
+After synthesis, every card was reconciled against the project’s full landed source
+collection: Berkshire letters from 1977 through 2024, the 2025 transition and farewell
+letters, the partnership letters, the Owner’s Manual, the 50th-anniversary essays,
+Buffett’s later public letters and comments, *The Essays of Warren Buffett* arrangement,
+and the Lowenstein biography.
+Each card carries abbreviated corroboration citations naming additional checked
+locations where its point is stated, applied, or qualified; the
+[source key](skills/buffett-investment-framework/references/00-source-key.md) resolves
+every abbreviation, explains the evidence character of each source, and gives a
+verified retrieval location for every citation key.
+
+This project is not affiliated with, approved by, or endorsed by Warren Buffett or
+Berkshire Hathaway.
+
+### Design Choices
+
+- **Deterministic routing:** `scripts/framework.py` is a standard-library Python script;
+  no model chooses the card load.
+  The same intent and topics always produce the same cards.
+- **A hard card cap:** 5–12 cards per pass; agent context is treated as a budget.
+- **A one-command validator:** `validate` checks the 65-card namespace and per-card
+  field contracts.
+- **A structural authority boundary:** cards return supported, challenged, or unresolved
+  findings.
+
+## Other Install Methods
+
+The `npx skills add` command in [Try It](#try-it) installs into whichever agent
+directories the CLI detects.
+Add `-g` to install for your user instead of the current project, `--copy` to install an
+independent snapshot rather than a symlink, and `--list` to see what a repository offers
+without installing it.
+The CLI attempts every agent it detects; a per-agent failure line for an agent you do
+not use (for example, PromptScript declining global installs) leaves the successful
+installs intact.
+
+To install without the CLI, copy the skill folder into the directory your agent reads.
+From this repository’s root:
+
+```bash
+# Cross-agent project install (Codex, Cursor, and pi read this path natively)
+mkdir -p your-project/.agents/skills
+cp -R skills/buffett-investment-framework your-project/.agents/skills/
+
+# Claude Code
+mkdir -p your-project/.claude/skills
+cp -R skills/buffett-investment-framework your-project/.claude/skills/
+
+# Codex
+cp -R skills/buffett-investment-framework "${CODEX_HOME:-$HOME/.codex}/skills/"
+```
+
+## Development
+
+Development docs live in [docs/development.md](docs/development.md) and
+[viz/README.md](viz/README.md).
+
+## License and Disclaimer
+
+MIT. See [LICENSE](LICENSE).
+
+This project is open-source reference material, **not investment advice**. finterm.ai
+makes no recommendation to buy, sell, or hold any security and accepts no liability for
+investment decisions you or your agents make.
+
+<!-- This document follows common-doc-guidelines.md.
+See github.com/jlevy/practical-prose and review guidelines before editing.
+-->

package/selected-skills/investment-skills/UPSTREAM.md

@@ -0,0 +1,12 @@
+# Upstream Record
+
+- Project: The Investment Skills Lexicon
+- Repository: https://github.com/finterm-ai/investment-skills
+- Upstream commit: `7235d3411601036cc79137fa0aec0d587f2c8e19`
+- License: MIT; see `LICENSE` copied from upstream.
+- Imported content: complete upstream repository snapshot, including the Buffett framework skill and its references. Upstream scripts are retained as source material and are never executed by intake or activation.
+- Local modifications: one sentence, on the router block. Upstream wrote "Use the bundled deterministic router when a shell is available" and four `python3 scripts/framework.py …` examples; under Capital the root role has no shell (§1.6), so that conditional left a dead end with nothing to fall back to. The sentence now states the two preconditions (a shell **and** a reachable skill directory) and names the fallback: skip the router and open the `references/` file for the chosen module directly, since the router only picks which file to read. No card, workflow, or analytical text was touched; `scripts/framework.py` itself is unmodified. Recorded here per `docs/dev/selected-skills.md` §8.6, and enforced by `test/selected-skills-content.test.mjs` (a file may mention `python3 scripts/` only if it also carries the no-shell fallback). This record and the Capital selected-skill catalog are maintained by Capital Generation.
+- Packaging: a Capital-owned `.npmignore` beside these files excludes `images/` and `viz/` from the published npm package — 2.3 MB of upstream README artwork (the same four PNGs exist twice, in `images/` and `viz/out/`) plus the upstream visualization site; no skill body references either. The complete snapshot stays committed here, so `github:` installs and provenance review are unaffected.
+- Maintenance snapshot (checked 2026-10-08): latest commit 2026-07-22; no later commits observed through the review date (78 days). See [GitHub commit history](https://github.com/finterm-ai/investment-skills/commits/main/).
+- Runtime status: `experimental` / explicit experiment. The skill remains disabled until explicitly selected in Capital settings and is registered only in a Capital root Agent's own scope. Its capability tags and warning are maintained in `selected-skills/catalog.js`.
+- Review status: imported for user-directed evaluation; not endorsed by Warren Buffett, Berkshire Hathaway, or Capital Generation. Its US-centric framework must not be treated as A-share rules. Validate all financial claims against primary evidence.

package/selected-skills/investment-skills/docs/development.md

@@ -0,0 +1,37 @@
+# Development
+
+Internal dev notes for this repo.
+The skill package itself lives in `skills/buffett-investment-framework/`; the
+interactive layout map and its poster pipeline live in `viz/` (see
+[viz/README.md](../viz/README.md) for how the canvas works).
+
+## Tasks
+
+Routine steps run through the top-level Makefile; `make` (or `make help`) lists them:
+
+| Target | What it does |
+| --- | --- |
+| `make setup` | Fetch the elkjs layout runtime into `viz/vendor/` (gitignored; once per checkout). |
+| `make validate` | Run the skill package’s own validator (`scripts/framework.py validate`). |
+| `make posters` | Render the light and dark poster PNGs to `viz/out/`. |
+| `make images` | Regenerate the README map images in `images/`. |
+| `make open` | Open the interactive canvas (`viz/canvas-skills.html`) in a browser. |
+| `make clean` | Remove fetched vendor files and generated posters. |
+
+## Prerequisites
+
+- `python3` for `make validate`.
+- Google Chrome, macOS `sips`, and `uv` for the poster targets (the pipeline is
+  macOS-specific; see the PNG Capture Mode section of `viz/README.md` for why it goes
+  through PDF).
+
+## Changing the Map
+
+The map’s content is the hand-authored snapshot in `viz/data.js`; edit it when cards,
+modules, or workflows change, then run `make images` to refresh the README posters.
+`make images` writes both the light and dark variants; the top-level README currently
+embeds only the light one.
+
+<!-- This document follows common-doc-guidelines.md.
+See github.com/jlevy/practical-prose and review guidelines before editing.
+-->

package/selected-skills/investment-skills/docs/roadmap.md

@@ -0,0 +1,25 @@
+# Roadmap
+
+The Investment Skills Lexicon is a growing collection.
+The [Buffett framework](../skills/buffett-investment-framework/) is complete and
+installable today; the frameworks below are queued, listed with the primary sources each
+distillation will draw from.
+
+| Investor | Status | Primary sources | Framework focus |
+| --- | --- | --- | --- |
+| Warren Buffett | ✅ Complete | 48 Berkshire shareholder letters (1977–2024), the 1957–1970 partnership letters, *The Essays of Warren Buffett*, and *Buffett: The Making of an American Capitalist* | [buffett-investment-framework](../skills/buffett-investment-framework/) applies Buffett’s investment frameworks and mental models, distilled into 65 decision cards, to financial analysis, investment-memo review, and thesis evaluation |
+| Charlie Munger | Queued | *Poor Charlie’s Almanack* (the [Stripe Press edition](https://www.stripe.press/poor-charlies-almanack) is free online), Wesco Financial and Daily Journal meeting transcripts, “The Psychology of Human Misjudgment” | Mental models, inversion, and the psychology of misjudgment |
+| Benjamin Graham | Queued | *Security Analysis*, *The Intelligent Investor*, Graham-Newman letters, 1955 congressional testimony, late lectures | Margin of safety, Mr. Market, and quantitative value screens |
+| Howard Marks | Queued | About 160 Oaktree client memos (1990–present, [public archive](https://www.oaktreecapital.com/insights/memos)), *The Most Important Thing*, *Mastering the Market Cycle* | Risk versus loss, market cycles, and second-level thinking |
+| Philip Fisher | Queued | *Common Stocks and Uncommon Profits*, *Conservative Investors Sleep Well*, *Developing an Investment Philosophy* | Scuttlebutt research and the fifteen-point growth checklist |
+| Peter Lynch | Queued | *One Up on Wall Street*, *Beating the Street*, Worth magazine columns | Stock categories, growth at a reasonable price, and the everyday-knowledge edge |
+| Nick Sleep and Qais Zakaria | Queued | The Nomad Investment Partnership letters, 2001–2014, [released free by the authors](https://igyfoundation.org.uk/) | Scale economies shared, destination analysis, and the cost of growth |
+| Jeremy Grantham | Queued | GMO quarterly letters and Viewpoints ([public archive](https://www.gmo.com/americas/research-library/)) | Bubbles, mean reversion, and asset-class regimes |
+| Joel Greenblatt | Queued | *You Can Be a Stock Market Genius*, *The Little Book That Beats the Market*, Columbia special-situations lectures | Spinoffs, special situations, and where structural mispricing hides |
+| Stanley Druckenmiller | Queued | Three decades of long-form talks and interviews, including the transcribed 2015 Lost Tree Club speech | Concentrated macro positioning, asymmetric bet sizing, and liquidity-regime reading |
+
+Install and usage instructions are in the [main README](../README.md).
+
+<!-- This document follows common-doc-guidelines.md.
+See github.com/jlevy/practical-prose and review guidelines before editing.
+-->