miaolay investing

Decisions, not a scoreboard

Investing

The structure is public; holdings and opinions stay empty until they are supplied with an as-of date.

Write the rule before the result.

Record the thesis, what would disprove it, the intended horizon, and the date on which the decision was made. No personal principle has been supplied yet, so this section remains a structure rather than invented advice.

Every snapshot needs an as-of date.

Future public snapshots should separate allocation, cost basis, current weight, thesis, and changed view. No holdings or returns are published in this edition.