alphacouncil-agent 0.9.2 → 1.0.0

package/knowledge/solo-test/masters/master_asness/manifest.json

@@ -16,6 +16,9 @@
     ],
     "native_decision_schema": "factor_adjusted_alpha_v1",
     "optional_fact_types": [
+      "market.change_pct",
+      "macro.credit_spread",
+      "factor.value_exposure",
       "factor.momentum_exposure",
       "factor.quality_exposure",
       "factor.beta_exposure",
@@ -24,7 +27,9 @@
       "return.factor_adjusted"
     ],
     "required_fact_types": [
-      "factor.value_exposure"
+      "index.aggregate_earnings_yield",
+      "macro.real_rate",
+      "macro.long_bond_yield"
     ]
   },
   "components": {
@@ -45,8 +50,8 @@
   "computation": {
     "dsl_version": "1.1",
     "pipeline": [
-      "master_asness.factor_decomposer",
-      "master_asness.crowding_cost_stress"
+      "master_asness.real_earnings_yield_gap",
+      "master_asness.nominal_earnings_yield_gap"
     ]
   },
   "decision": {
@@ -54,7 +59,9 @@
     "common_projection": "common_stance_v1",
     "confidence_calibrator": null,
     "eligibility": [
-      "factor.value_exposure"
+      "index.aggregate_earnings_yield",
+      "macro.real_rate",
+      "macro.long_bond_yield"
     ],
     "hard_vetoes": [
       "master_asness.undefined_factor",
@@ -77,11 +84,15 @@
     "maturity": "operator_lens",
     "operator_label": {
       "en": "Asness Factor Lens Provisional Operator Lens",
+      "ja": "Asness Factor Lens 暫定オペレーター・レンズ",
+      "ko": "Asness Factor Lens 임시 오퍼레이터 렌즈",
       "zh": "Asness 因子视角临时操作视角"
     },
     "persona_id": "master_asness",
     "public_label": {
       "en": "Asness Factor Lens Solo Test",
+      "ja": "Asness Factor Lens 単独テスト",
+      "ko": "Asness Factor Lens 단독 테스트",
       "zh": "Asness 因子视角单人测试"
     },
     "source_cutoff": "2026-07-27"
@@ -92,7 +103,7 @@
     "leak_rule": "public_at <= as_of AND memory_created_at <= as_of",
     "postmortem_horizon_days": 90
   },
-  "pack_version": "0.9.2",
+  "pack_version": "0.9.4",
   "research": {
     "mandatory_disconfirming_queries": [
       "Reject attribution when factor construction is not versioned and reproducible.",
@@ -109,16 +120,22 @@
   "schema_version": 3,
   "selection": {
     "best_for": {
-      "en": "Testing deterministic behavior in factor_investing, portfolio_attribution, style_cycles, crowding",
-      "zh": "用于测试确定性行为：factor_investing、portfolio_attribution、style_cycles、crowding"
+      "en": "Factor investing, portfolio attribution, style cycles, and crowded positioning.",
+      "ja": "ファクター投資、ポートフォリオ帰属分析、スタイル循環、ポジションの混雑。",
+      "ko": "팩터 투자, 포트폴리오 성과 귀속, 스타일 순환, 포지션 쏠림.",
+      "zh": "因子投资、组合归因、风格周期与拥挤交易。"
     },
     "identity": {
       "en": "Asness Factor Lens; project-derived and not human reviewed",
+      "ja": "Asness Factor Lens。プロジェクト派生で、方法帰属について人による審査を受けていない暫定オペレーター・レンズ。本人の発言や現在の見解ではない。",
+      "ko": "Asness Factor Lens. 프로젝트에서 파생되었고 방법 귀속에 대한 인적 심사를 거치지 않은 임시 오퍼레이터 렌즈다. 본인의 발언이나 현재 견해가 아니다.",
       "zh": "Asness 因子视角；项目派生、未经人工审定"
     },
     "method": {
       "en": "Decompose returns into value, momentum, quality, beta, sector and crowding exposures before treating residual performance as alpha.",
-      "zh": "Decompose returns into value, momentum, quality, beta, sector and crowding exposures before treating residual performance as alpha."
+      "ja": "リターンをバリュー、モメンタム、クオリティ、ベータ、セクター、混雑度へのエクスポージャーに分解し、残差リターンをアルファとみなす前に検証する。",
+      "ko": "수익률을 가치, 모멘텀, 퀄리티, 베타, 섹터, 쏠림 노출로 분해한 뒤 잔여 성과를 알파로 간주할 수 있는지 검증한다.",
+      "zh": "分解价值、动量、质量、beta、行业暴露和拥挤度，检查所谓 alpha 是否只是因子。"
     }
   },
   "voice": {

package/knowledge/solo-test/masters/master_asness/provisional-index.json

@@ -16,7 +16,7 @@
   ],
   "experiment_pass_count": 0,
   "formula_approval_binding_count": 0,
-  "formula_compilation_manifest_hash": "sha256:7265b10a67bd0437af02572176793ef0b8529e48437edc5a2e0b1b1b9fbe73d0",
+  "formula_compilation_manifest_hash": "sha256:fc8afd469d9cafccccc4221622ccde5061167c538ab6472eecaaf65efce5461b",
   "method_model_eligible": false,
   "native_states": [
     "provisional_unidentified_exposure",
@@ -26,8 +26,8 @@
   ],
   "persona_id": "master_asness",
   "planned_tool_ids": [
-    "master_asness.factor_decomposer",
-    "master_asness.crowding_cost_stress"
+    "master_asness.real_earnings_yield_gap",
+    "master_asness.nominal_earnings_yield_gap"
   ],
   "production_eligible": false,
   "review_status": "not_human_reviewed",

package/knowledge/solo-test/masters/master_asness/sources.jsonl

@@ -1 +1 @@
-{"adjudication":{"notes":"No human review, no named-method attribution, no production effect.","reviewer_ids":[],"status":"pending"},"author":"AlphaCouncil project build specification","content_hash":"sha256:889eeaa454132dbdc3339ded6f55de4a6222dc75363969afc9a01f65af1572c8","grade":"E","known_at":"2026-07-27","locator":{"section":"master_asness"},"public_at":"2026-07-27","published_at":"2026-07-27","retrieved_at":"2026-07-27","schema_version":1,"source_id":"proxy:b5b13eff4215f804d","source_kind":"derived_proxy","summary":"Project-authored provisional proxy used only to exercise the deterministic solo-test build; it is not source approval or method attribution.","supports":["solo_test_structure","deterministic_execution_only"],"title":"Provisional project-derived method hypothesis for master_asness","url":"https://github.com/Zhao73/alphacouncil-agent/blob/main/data/persona-v3-build-specs.v1.mjs"}
+{"adjudication":{"notes":"No human review, no named-method attribution, no production effect.","reviewer_ids":[],"status":"pending"},"author":"AlphaCouncil project build specification","content_hash":"sha256:6b4d6d4a2781bd5c6994d55298144d735b1266a7fab8906be5f96d0b31daf5e6","grade":"E","known_at":"2026-07-27","locator":{"section":"master_asness"},"public_at":"2026-07-27","published_at":"2026-07-27","retrieved_at":"2026-07-27","schema_version":1,"source_id":"proxy:b5b13eff4215f804d","source_kind":"derived_proxy","summary":"Project-authored provisional proxy used only to exercise the deterministic solo-test build; it is not source approval or method attribution.","supports":["solo_test_structure","deterministic_execution_only"],"title":"Provisional project-derived method hypothesis for master_asness","url":"https://github.com/Zhao73/alphacouncil-agent/blob/main/data/persona-v3-build-specs.v1.mjs"}

package/knowledge/solo-test/masters/master_asness/tools.json

@@ -1,11 +1,11 @@
 [
   {
     "assurance_class": "provisional_derived_proxy",
-    "derivation_evidence_hash": "sha256:98e274dd74d5d074be39602d3263ebcc8da02b25e13b8ec4feca3dc207383a03",
-    "derivation_spec_hash": "sha256:319e46ff64092fb9577cba1ea97fc65ac74fb7021373aba0c7ec4111945f3712",
-    "derivation_spec_id": "master_asness.factor_decomposer.prototype_v1.derived_proxy_v1",
+    "derivation_evidence_hash": "sha256:5417afe0a2e3efe909d206233a878a568ebe26afd3183f727ae9c166dc07a935",
+    "derivation_spec_hash": "sha256:6564e77bbe274cb64d4452b0732e6c0cc1936b2d9e6fa2f0f4a600cdbee8a45c",
+    "derivation_spec_id": "master_asness.real_earnings_yield_gap.prototype_v1.derived_proxy_v1",
     "dsl_version": "1.1",
-    "id": "master_asness.factor_decomposer",
+    "id": "master_asness.real_earnings_yield_gap",
     "input_contracts": [
       {
         "on_missing": "fail",
@@ -14,44 +14,57 @@
           "basis": "instant",
           "window": null
         },
-        "unit": "derived_proxy_scalar",
-        "value_kind": "scalar"
+        "unit": "decimal",
+        "value_kind": "ratio"
+      },
+      {
+        "on_missing": "fail",
+        "period": {
+          "alignment": "as_of",
+          "basis": "instant",
+          "window": null
+        },
+        "unit": "decimal",
+        "value_kind": "ratio"
       }
     ],
-    "input_schema_hash": "sha256:23708482dd01e5b24a5bc4ca8ed22d9a6d360f35eb1132468607ffcac7dcdf39",
+    "input_schema_hash": "sha256:a01968174447d466d8d1edfbcae722463ffb903b093c742aec9a031034805c14",
     "inputs": [
       {
-        "fact_id": "factor.value_exposure"
+        "fact_id": "index.aggregate_earnings_yield"
+      },
+      {
+        "fact_id": "macro.real_rate"
       }
     ],
     "intended_use": "local_test_only",
-    "kind": "transform",
+    "kind": "recomputation",
     "on_missing": "fail",
-    "operation": "identity",
-    "output_id": "factor.value_exposure",
+    "operation": "subtract",
+    "output_id": "index.real_earnings_yield_gap.master_asness",
     "output_period": {
       "alignment": "as_of",
       "basis": "instant",
       "window": null
     },
-    "output_schema_hash": "sha256:96545e2fbcc1831d18ada36155c50d55fa95c2803bf94187d562fa3bacf69f68",
+    "output_schema_hash": "sha256:7d68f2810703259b31e00881dcaa2687aa18b6170b6f4db752b45ea4505150b7",
     "production_eligible": false,
     "review_status": "not_human_reviewed",
     "schema_version": 1,
     "source_ids": [
       "proxy:b5b13eff4215f804d"
     ],
-    "unit": "derived_proxy_scalar",
-    "value_kind": "scalar",
-    "version": "0.1.0"
+    "unit": "decimal",
+    "value_kind": "ratio",
+    "version": "0.2.0"
   },
   {
     "assurance_class": "provisional_derived_proxy",
-    "derivation_evidence_hash": "sha256:a5b1fe7376f9e07ba6c320d915420933c5b0e92c3732380d5690ad7b6825d30a",
-    "derivation_spec_hash": "sha256:d9453ef6c6b917dca3aa0208f13087cf6f4607951985bfd495b5ce00d85beee1",
-    "derivation_spec_id": "master_asness.crowding_cost_stress.prototype_v1.derived_proxy_v1",
+    "derivation_evidence_hash": "sha256:d6950f6ee33be5a8f9b62664d905a777fad3826093dd6cc31185602c81cc7dcb",
+    "derivation_spec_hash": "sha256:811f468a7a8b3f1ce04e592f426cdb6e4099a5f50dfba2277a50f1868efede8d",
+    "derivation_spec_id": "master_asness.nominal_earnings_yield_gap.prototype_v1.derived_proxy_v1",
     "dsl_version": "1.1",
-    "id": "master_asness.crowding_cost_stress",
+    "id": "master_asness.nominal_earnings_yield_gap",
     "input_contracts": [
       {
         "on_missing": "fail",
@@ -60,35 +73,48 @@
           "basis": "instant",
           "window": null
         },
-        "unit": "derived_proxy_scalar",
-        "value_kind": "scalar"
+        "unit": "decimal",
+        "value_kind": "ratio"
+      },
+      {
+        "on_missing": "fail",
+        "period": {
+          "alignment": "as_of",
+          "basis": "instant",
+          "window": null
+        },
+        "unit": "decimal",
+        "value_kind": "ratio"
       }
     ],
-    "input_schema_hash": "sha256:dd5a7f94184e9ace1c84b7f68d783826e7a4aed2eb31c01d15024be93eb62104",
+    "input_schema_hash": "sha256:9a31aa3ce4ebc4019f58682d87d5d2edaea7d465a09bdd7a90796de9f1816962",
     "inputs": [
       {
-        "fact_id": "factor.value_exposure"
+        "fact_id": "index.aggregate_earnings_yield"
+      },
+      {
+        "fact_id": "macro.long_bond_yield"
       }
     ],
     "intended_use": "local_test_only",
-    "kind": "transform",
+    "kind": "recomputation",
     "on_missing": "fail",
-    "operation": "identity",
-    "output_id": "factor.crowding",
+    "operation": "subtract",
+    "output_id": "index.implied_equity_risk_premium.master_asness",
     "output_period": {
       "alignment": "as_of",
       "basis": "instant",
       "window": null
     },
-    "output_schema_hash": "sha256:79b74a9de554814a9e993c479a1fbc11c13ea02198c202bf86559395dbfa4374",
+    "output_schema_hash": "sha256:d14d9f18c4f0be6c2d8a4c992543d03bd9511b32390a0a25810c24b3fafd4f67",
     "production_eligible": false,
     "review_status": "not_human_reviewed",
     "schema_version": 1,
     "source_ids": [
       "proxy:b5b13eff4215f804d"
     ],
-    "unit": "derived_proxy_scalar",
-    "value_kind": "scalar",
-    "version": "0.1.0"
+    "unit": "decimal",
+    "value_kind": "ratio",
+    "version": "0.2.0"
   }
 ]

package/knowledge/solo-test/masters/master_bogle/decision_policy.json

@@ -0,0 +1,170 @@
+{
+  "abstention_policy": "fail_closed",
+  "dsl_version": "1.1",
+  "eligibility": {
+    "all": [
+      {
+        "condition": {
+          "op": "exists",
+          "value": {
+            "fact_id": "fund.top_ten_weight"
+          }
+        },
+        "condition_id": "master_bogle.holdings_breadth_visible",
+        "on_false": {
+          "common_stance": "out_of_scope",
+          "native_state": "provisional_insufficient_return_inputs"
+        },
+        "on_uncomputable": {
+          "common_stance": "out_of_scope",
+          "native_state": "provisional_insufficient_return_inputs"
+        },
+        "source_ids": [
+          "proxy:1b982d2dc6b935fc0"
+        ]
+      }
+    ]
+  },
+  "fact_gate": {
+    "on_missing_critical": {
+      "common_stance": "out_of_scope",
+      "native_state": "provisional_insufficient_return_inputs"
+    }
+  },
+  "hard_vetoes": [
+    {
+      "condition": {
+        "left": {
+          "output_id": "index.fundamental_expected_return.master_bogle"
+        },
+        "op": "lte",
+        "right": {
+          "fact_id": "macro.breakeven_inflation"
+        }
+      },
+      "on_trigger": {
+        "common_stance": "opposed",
+        "native_state": "provisional_overpriced_market"
+      },
+      "on_uncomputable": {
+        "action": "abstain",
+        "decision": {
+          "common_stance": "out_of_scope",
+          "native_state": "provisional_insufficient_return_inputs"
+        }
+      },
+      "source_ids": [
+        "proxy:1b982d2dc6b935fc0"
+      ],
+      "veto_id": "master_bogle.expected_return_below_inflation"
+    }
+  ],
+  "native_decision_schema": "expected_market_return_v1",
+  "native_output_fields": [
+    {
+      "field": "metric_1",
+      "on_missing": "fail",
+      "value": {
+        "output_id": "index.fundamental_expected_return.master_bogle"
+      }
+    },
+    {
+      "field": "metric_2",
+      "on_missing": "fail",
+      "value": {
+        "output_id": "index.expected_return_over_long_bond.master_bogle"
+      }
+    }
+  ],
+  "native_states": [
+    "provisional_insufficient_return_inputs",
+    "provisional_overpriced_market",
+    "provisional_fair_expected_return",
+    "provisional_low_cost_index_candidate"
+  ],
+  "schema_version": 1,
+  "score_bands": [
+    {
+      "decision": {
+        "common_stance": "opposed",
+        "native_state": "provisional_overpriced_market"
+      },
+      "min_ratio": 0
+    },
+    {
+      "decision": {
+        "common_stance": "cautious",
+        "native_state": "provisional_fair_expected_return"
+      },
+      "min_ratio": 0.5
+    },
+    {
+      "decision": {
+        "common_stance": "constructive",
+        "native_state": "provisional_low_cost_index_candidate"
+      },
+      "min_ratio": 1
+    }
+  ],
+  "scoring": {
+    "max_score": 3,
+    "min_coverage": 1,
+    "on_insufficient_coverage": {
+      "common_stance": "out_of_scope",
+      "native_state": "provisional_insufficient_return_inputs"
+    },
+    "rules": [
+      {
+        "condition": {
+          "left": {
+            "output_id": "index.expected_return_over_long_bond.master_bogle"
+          },
+          "op": "gt",
+          "right": {
+            "literal": 0
+          }
+        },
+        "coverage_weight": 1,
+        "points": 1,
+        "rule_id": "bogle_fundamental_return_beats_long_bond",
+        "source_ids": [
+          "proxy:1b982d2dc6b935fc0"
+        ]
+      },
+      {
+        "condition": {
+          "left": {
+            "fact_id": "index.aggregate_earnings_yield"
+          },
+          "op": "gte",
+          "right": {
+            "literal": 0.0667
+          }
+        },
+        "coverage_weight": 1,
+        "points": 1,
+        "rule_id": "bogle_multiple_at_or_below_long_run_norm",
+        "source_ids": [
+          "proxy:1b982d2dc6b935fc0"
+        ]
+      },
+      {
+        "condition": {
+          "left": {
+            "fact_id": "fund.top_ten_weight"
+          },
+          "op": "lte",
+          "right": {
+            "literal": 0.5
+          }
+        },
+        "coverage_weight": 1,
+        "points": 1,
+        "rule_id": "bogle_owns_the_whole_market",
+        "source_ids": [
+          "proxy:1b982d2dc6b935fc0"
+        ]
+      }
+    ]
+  }
+}

package/knowledge/solo-test/masters/master_bogle/doctrine.jsonl

@@ -0,0 +1,14 @@
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Price a basket rather than a business by decomposing the long-run expected return into dividend yield, earnings growth and the change in valuation, then judging it against the long bond and the cost of holding it.","rule_id":"proxy_rule_1","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"the named source's investment return: the initial dividend yield plus the growth of the underlying businesses. Revenue growth stands in for earnings growth on his own argument that earnings cannot outrun sales for long.","rule_id":"proxy_rule_2","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"The stock-versus-bond comparison the named source used to set an allocation: what the market can reasonably be expected to deliver, less what the long bond pays outright.","rule_id":"proxy_rule_3","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Reject when dividend yield plus business growth does not exceed expected inflation, since no reduction in cost rescues a gross return already negative in real terms.","rule_id":"proxy_rule_4","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Decline when the subject is one operating business rather than a basket whose dividends and earnings aggregate.","rule_id":"proxy_rule_5","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Reject a case for a fund whose support is past outperformance rather than yield, growth and cost.","rule_id":"proxy_rule_6","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Excluded claim: a judgment on any single operating business","rule_id":"proxy_rule_7","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Excluded claim: security selection inside the basket","rule_id":"proxy_rule_8","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Excluded claim: a dated call on when a valuation reversion occurs","rule_id":"proxy_rule_9","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Excluded claim: manager skill inferred from a fund's past outperformance","rule_id":"proxy_rule_10","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Known limit: Earnings growth is not published for a basket in this build, so a look-through revenue-growth aggregate stands in for it and that substitution changes the number.","rule_id":"proxy_rule_11","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Known limit: Aggregate index multiples are quoted on incompatible earnings bases, so a reversion estimate is only meaningful within one basis and cannot be compared across sources.","rule_id":"proxy_rule_12","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Known limit: Fund cost is not currently produced by the instrument feed, so the cost term depends on an acquisition target rather than on a live fact.","rule_id":"proxy_rule_13","source_ids":["proxy:1b982d2dc6b935fc0"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Known limit: The method deliberately produces no judgment on a single business, so a large share of the coverage universe is out of scope by construction rather than by evidence gap.","rule_id":"proxy_rule_14","source_ids":["proxy:1b982d2dc6b935fc0"]}

package/knowledge/solo-test/masters/master_bogle/evaluation/experiments.json

@@ -0,0 +1,5 @@
+{
+  "experiments": {},
+  "persona_id": "master_bogle",
+  "schema_version": 1
+}

package/knowledge/solo-test/masters/master_bogle/manifest.json

@@ -0,0 +1,141 @@
+{
+  "build_profile": "solo_test",
+  "capability": {
+    "domains": [
+      "index_funds",
+      "exchange_traded_funds",
+      "market_expected_return",
+      "cost_of_ownership"
+    ],
+    "exclusions": [
+      "a judgment on any single operating business",
+      "security selection inside the basket",
+      "a dated call on when a valuation reversion occurs",
+      "manager skill inferred from a fund's past outperformance",
+      "production decisions",
+      "method attribution"
+    ],
+    "native_decision_schema": "expected_market_return_v1",
+    "optional_fact_types": [
+      "fund.top_ten_weight",
+      "macro.breakeven_inflation",
+      "index.aggregate_earnings_yield"
+    ],
+    "required_fact_types": [
+      "index.dividend_yield",
+      "valuation.revenue_growth",
+      "macro.long_bond_yield"
+    ]
+  },
+  "components": {
+    "calibration_cases": "evaluation/calibration_cases.jsonl",
+    "counterfactuals": "counterfactuals.jsonl",
+    "decision_cases": "decision_cases.jsonl",
+    "decision_policy": "decision_policy.json",
+    "doctrine": "doctrine.jsonl",
+    "experiments": "evaluation/experiments.json",
+    "failures": "failures.jsonl",
+    "golden_cases": "evaluation/golden_cases.jsonl",
+    "memory_policy": "memory_policy.json",
+    "pairwise_cases": "evaluation/pairwise_cases.jsonl",
+    "research_policy": "research_policy.json",
+    "sources": "sources.jsonl",
+    "tools": "tools.json"
+  },
+  "computation": {
+    "dsl_version": "1.1",
+    "pipeline": [
+      "master_bogle.fundamental_expected_return",
+      "master_bogle.expected_return_over_long_bond"
+    ]
+  },
+  "decision": {
+    "abstention_policy": "fail_closed",
+    "common_projection": "common_stance_v1",
+    "confidence_calibrator": null,
+    "eligibility": [
+      "index.dividend_yield",
+      "valuation.revenue_growth",
+      "macro.long_bond_yield"
+    ],
+    "hard_vetoes": [
+      "master_bogle.expected_return_below_inflation",
+      "master_bogle.single_business",
+      "master_bogle.past_performance_claim"
+    ],
+    "native_output": "expected_market_return_v1"
+  },
+  "evaluation": {
+    "required_ablations": [
+      "name",
+      "voice",
+      "policy",
+      "evidence",
+      "memory",
+      "model"
+    ]
+  },
+  "identity": {
+    "maturity": "operator_lens",
+    "operator_label": {
+      "en": "Bogle Lens Provisional Operator Lens",
+      "ja": "Bogle Lens 暫定オペレーター・レンズ",
+      "ko": "Bogle Lens 임시 오퍼레이터 렌즈",
+      "zh": "约翰·博格视角临时操作视角"
+    },
+    "persona_id": "master_bogle",
+    "public_label": {
+      "en": "Bogle Lens Solo Test",
+      "ja": "Bogle Lens 単独テスト",
+      "ko": "Bogle Lens 단독 테스트",
+      "zh": "约翰·博格视角单人测试"
+    },
+    "source_cutoff": "2026-07-27"
+  },
+  "memory": {
+    "belief_updates": "evidence_required",
+    "episodic": false,
+    "leak_rule": "public_at <= as_of AND memory_created_at <= as_of",
+    "postmortem_horizon_days": 90
+  },
+  "pack_version": "0.9.4",
+  "research": {
+    "mandatory_disconfirming_queries": [
+      "Reject when dividend yield plus business growth does not exceed expected inflation, since no reduction in cost rescues a gross return already negative in real terms.",
+      "Decline when the subject is one operating business rather than a basket whose dividends and earnings aggregate.",
+      "Reject a case for a fund whose support is past outperformance rather than yield, growth and cost."
+    ],
+    "planner": "solo_test_public_fact_planner_v1",
+    "private_budget": {
+      "fetches": 3,
+      "queries": 3
+    },
+    "source_policy": "public_point_in_time_only_provisional_v1"
+  },
+  "schema_version": 3,
+  "selection": {
+    "best_for": {
+      "en": "Index funds, ETFs, market-wide expected return, and cost of ownership.",
+      "ja": "インデックスファンド、ETF、市場全体の期待リターン、保有コスト。",
+      "ko": "인덱스 펀드, ETF, 시장 전체 기대수익률, 보유 비용.",
+      "zh": "指数基金、ETF、整体市场预期回报与持有成本。"
+    },
+    "identity": {
+      "en": "Bogle Lens; project-derived and not human reviewed",
+      "ja": "Bogle Lens。プロジェクト派生で、方法帰属について人による審査を受けていない暫定オペレーター・レンズ。本人の発言や現在の見解ではない。",
+      "ko": "Bogle Lens. 프로젝트에서 파생되었고 방법 귀속에 대한 인적 심사를 거치지 않은 임시 오퍼레이터 렌즈다. 본인의 발언이나 현재 견해가 아니다.",
+      "zh": "约翰·博格视角；项目派生、未经人工审定"
+    },
+    "method": {
+      "en": "Price a basket rather than a business by decomposing the long-run expected return into dividend yield, earnings growth and the change in valuation, then judging it against the long bond and the cost of holding it.",
+      "ja": "一つの事業ではなく一つのバスケットを評価し、長期期待リターンを配当利回り、利益成長、バリュエーション変化に分解したうえで、長期債利回りと保有コストと比較する。",
+      "ko": "개별 기업이 아니라 바스켓을 평가하며, 장기 기대수익률을 배당수익률, 이익 성장, 밸류에이션 변화로 분해한 뒤 장기채 금리와 보유 비용에 견주어 판단한다.",
+      "zh": "把一篮子的长期预期回报拆成股息率、盈利增长和估值变化，再减去持有成本。"
+    }
+  },
+  "voice": {
+    "en": "voice.en.md",
+    "load_after_decision_freeze": true,
+    "zh": "voice.zh.md"
+  }
+}

package/knowledge/solo-test/masters/master_bogle/memory_policy.json

@@ -0,0 +1,5 @@
+{
+  "assurance_class": "provisional_derived_proxy",
+  "leak_rule": "public_at <= as_of AND memory_created_at <= as_of",
+  "write_enabled": false
+}