α
AlphaSteve
← Home

Coherence Audit — 2026-05-25

Post-shipment audit covering the 2026-05-24 doctrine recalibration (Greenwald-modified deep value), the 2026-05-25 autonomy doctrine update, and the new thesis-bundle / first-read / shadow-matrix / consensus-benchmarking / sources-policy artifacts.

Summary

Top three issues:

  1. first-read-standard.md directly contradicts the new autonomy doctrine. Lines 92-94 classify the continue decision as Tier 2 requiring user approval, while Rules.md lines 26 and 61-62 (and the SKILL.md for the AM scan, line 207) classify it as Tier 1 autonomous. This is the load-bearing contradiction of the 2026-05-25 ship — the doctrine file the scan task points to as its source of truth is still written under the old regime.
  2. PM scan SKILL.md still references the disabled alphasteve-first-read 8:00 AM task (lines 23 and 80: "First-reads happen tomorrow morning at 8:00 AM"). The first-read step was folded into the 7:30 AM consolidated scan; the PM scan was never updated.
  3. _Start-Here/Welcome.md is stale across the board — daily-rhythm table still shows 6:30 AM scan and 7:00 AM AM research (line 99); the doctrine recalibration is not mentioned; the autonomy doctrine is not mentioned; the new artifacts (methodology-calibration, first-read-standard, shadow-valuation-matrix, consensus-benchmarking) are mostly missing from the Map of Content, and first-read-standard is listed twice in 08-Frameworks (line 54).

Findings by category

1. Welcome.md and READMEs

  • _Start-Here/Welcome.md line 54 — 08-Frameworks MoC lists [first-read-standard](/brain/first-read-standard) twice and is missing [methodology-calibration](/brain/methodology-calibration) and [shadow-valuation-matrix](/brain/shadow-valuation-matrix) from the 10-Calibration line (line 60 lists methodology-calibration and shadow-valuation-matrix — correct there — but consensus-benchmarking is properly in the Valuation line 39).
  • _Start-Here/Welcome.md line 99 — daily-rhythm table shows "6:30 AM | Daily deep-value scan" and "7:00 AM | AM research". Actual schedule per task spec is 7:30 AM scan; no first-read row; thesis-builder 11:00 AM row missing; PM scan 4:30 PM row missing.
  • _Start-Here/Welcome.md — no mention of the Greenwald-modified doctrine recalibration, no mention of the autonomy doctrine, no mention of first-read as a pipeline stage. The "Typical workup flow" (lines 113-126) jumps straight from sector read to thesis with no first-read triage.
  • _Start-Here/README.md line 27 — sub-comment "EPV first, then triangulate" no longer matches the Greenwald-modified default (EPV-plus-growth when gating tests pass).
  • _Start-Here/README.md line 69 — "start with [earnings-power-value-greenwald](/brain/earnings-power-value-greenwald)" — text is fine but does not flag the methodology shift.
  • _Start-Here/README.md has no mention of first-read-standard, thesis-bundle-standard, shadow-valuation-matrix, consensus-benchmarking, methodology-calibration, or sources-policy — none of the new artifacts.

2. Cross-references between new files

  • first-read-standard.md references [Rules](/brain/rules), [methodology-calibration](/brain/methodology-calibration), [thesis-bundle-standard](/brain/thesis-bundle-standard), [investment-thesis-template](/brain/investment-thesis-template), [02-philosophy-deep-value](/brain/02-philosophy-deep-value), [05-decision-framework](/brain/05-decision-framework) — all resolve.
  • investment-thesis-template.md has zero references to first-read-standard (Grep confirmed). The "upstream stage" linkage that the audit asked about is missing. The template lists thesis-bundle-standard only.
  • 05-decision-framework.md does not mention first-read, thesis-bundle-standard, shadow-valuation-matrix, consensus-benchmarking, or methodology-calibration. Gate-3 valuation order (line 39-44) still implies "EPV first" without crediting the gated EPV-plus-growth default.
  • FCN/first-read-2026-05-25.md wiki-links [insider-signal-decoding](/brain/insider-signal-decoding) (line 80) — file does not exist anywhere in the vault. Same file links [2026-05-25-scan](/brain/2026-05-25-scan) (lines 62, 82) — also unresolved; actual file is Daily-Scans/2026-05-25.md.
  • thesis-bundle-standard.md properly cross-refs first-read-standard, shadow-valuation-matrix, consensus-benchmarking, _calibration-template, methodology-calibration, investment-thesis-template, sources-policy — clean.

3. Stale references to disabled/removed concepts

  • alphasteve-daily-deep-value-scan-pm/SKILL.md line 23: "First-reads happen tomorrow morning at 8:00 AM from the combined AM+PM scan queue." The 8:00 AM alphasteve-first-read task is disabled; first-reads now run inside the 7:30 AM scan. Critical stale ref.
  • alphasteve-daily-deep-value-scan-pm/SKILL.md line 80: "Tier 1 — selected for first-read tomorrow morning" — same problem; needs rewording to "selected for first-read in tomorrow's AM scan".
  • first-read-standard.md lines 92-94: classifies continue decisions as Tier 2 requiring user pre-approval. Contradicts the 2026-05-25 autonomy doctrine. The "asymmetry is intentional" paragraph (line 94) needs full rewrite — the kit's new posture is the inverse (Tier 1 across the board, post-hoc review).
  • first-read-standard.md line 78 also says continue "gets queued (Tier 2 — see Rules)" — same issue.
  • first-read-standard.md is missing the avoid decision in its enumerated decision values (line 53 frontmatter) and decision section, but the scan SKILL.md and the FCN scan log both reference an avoid value. Either add avoid to the standard or remove it from downstream references.
  • No remaining vault file references "6:30 AM scan" except Welcome.md line 99 (Grep 6:30 AM confirmed). No vault file references "8:00 AM" first-read task except the PM scan SKILL. No file references "user must approve full theses" — that phrasing is gone.
  • 14-Optimization/Daily/2026-05-25.md — the day-of optimization log makes no mention of the autonomy doctrine update or that Tier classifications changed. Given the change shipped today, that log should record it.

4. Decision framework alignment (01-Soul/05-decision-framework.md)

  • Does not acknowledge the first-read stage. The flow described jumps from circle-of-competence (Gate 1) straight into deep work (Gates 2-5).
  • Does not acknowledge post-hoc review. The "When you stop" and "When you walk away" sections (lines 87-99) describe analyst behavior; there's no mention that the user reviews completed work rather than authorizing it.
  • Gate 3 (line 39-44) still implies EPV-only as the working default ("EPV (Greenwald). What does the business earn without growth?") with growth-included treated as a contingent step 3. This phrasing predates the Greenwald-modified recalibration that promoted EPV-plus-growth to the default when gating tests pass.

5. Backlog state (14-Optimization/Backlog.md)

  • Lines 123-129 — "P2 — Watchlist row propagation for 2026-05-24 PLTR refresh" is now obsolete under the new Rules.md. Rules line 29 explicitly makes "Watchlist row updates derived from a published verdict" Tier 1 (autonomous). This item should be re-classified Tier 1 and executed, not queued for user approval.
  • Lines 31-49 — P1 skill-gap items ("Software & SaaS economics", "Primary-research workflow", "Reverse-DCF calculator") are still labeled "awaiting approval to write." Per the new autonomy doctrine these are still Tier 2 (new skill files) — correctly queued. No change needed.
  • Line 24 — "soul-level change executed under explicit user approval, not autonomous Tier 1 work" — accurate as a historical statement about 2026-05-24, but worth pairing with a note that the 2026-05-25 doctrine update did itself relax some pre-approval gates.

6. Watchlist and Portfolio

  • 11-Watchlist/Watchlist.md line 16 — PLTR row still shows trigger $29.00, central value $52.00, last review 2026-05-23. Should be $60.00 / $85.00 / 2026-05-24 per the doctrine refresh. This is the exact issue flagged in Backlog item P2 (which is now Tier 1 — see Finding 5).
  • 11-Watchlist/Watchlist.md has no mention that pass-with-trigger verdicts from the autonomous thesis-builder will land directly in this register. Section "How entries get added" (line 18-25) reads as if a human gatekeeps the addition.
  • 11-Watchlist/Watchlist.md "Linked" section omits [thesis-bundle-standard](/brain/thesis-bundle-standard) and [first-read-standard](/brain/first-read-standard).
  • 12-Portfolio/Portfolio.md line 12 — inception 2026-05-26 (Memorial Day delay) is consistent with the 5/25 scan and Daily-Notes.
  • 12-Portfolio/Portfolio.md does not reference the new pipeline (first-read-standard, thesis-bundle-standard, autonomy doctrine). The "Decision authority" line (17) still says "agent executes autonomously when kit discipline is clear" — coherent with the new doctrine but not explicit about the post-hoc review model.

7. PLTR bundle convention compliance

  • Folder structure matches the standard: 09-Theses/PLTR/PLTR.md (landing) + 09-Theses/PLTR/PLTR - MAY2026/ (instance) + revisions/. All artifacts prefixed PLTR-.
  • No leftover bare-name files (no thesis.md, no shadow-matrix.md without prefix). Clean.
  • No first-read files under 09-Theses/PLTR/ — PLTR predates the first-read stage; no conflict. But active-idea-refresh per the new scan workflow may want a backfilled placeholder.
  • PLTR-calibration.md is truncated mid-sentence: file ends at "broader lessons from th" (the kit-debrief-001-PLTR bullet). Flagged in the 5/25 optimization log as Tier-3-protected; needs user repair.
  • PLTR thesis frontmatter (lines 1-28) is fully compliant with thesis-bundle-standard schema including methodology: greenwald-modified and gating_tests_passed: 3.

8. Methodology-calibration logs

  • 10-Calibration/methodology-calibration.md lines 82-100 — the 2026-05-24 doctrine recalibration is logged in full (trigger, change, expected impact, counter-test, documentation). Compliant.
  • The 2026-05-25 autonomy doctrine update is NOT logged in the calibration-events section. Per thesis-bundle-standard line 254 ("Material changes ... are logged in methodology-calibration as calibration events, the same way doctrine changes are") and per the same spirit, the autonomy shift is a load-bearing change to how the kit operates and belongs in this log.

9. Other inconsistencies

  • Daily-Scans filename mismatch. Spec says Daily-Scans/YYYY-MM-DD-AM.md; actual file is Daily-Scans/2026-05-25.md (no AM suffix). The scan SKILL.md (line 141) and thesis-builder SKILL.md (line 71) both reference the -AM suffix path. The today-of file establishes a different convention. Either the spec or the file is wrong; needs reconciliation.
  • Daily-Scans/2026-05-25.md line 37 and FCN first-read line 80 wiki-link [insider-signal-decoding](/brain/insider-signal-decoding) — file does not exist. The capability is referenced as if it exists.
  • Daily-Scans/2026-05-25.md line 78 wiki-links [first-read-2026-05-25](/brain/first-read-2026-05-25) (bare). Obsidian resolves bare filenames across folders, so this works today, but as multiple tickers accumulate first-reads with the same date the link will become ambiguous. Recommended: standardize to [FCN-first-read-2026-05-25](/brain/fcn-first-read-2026-05-25) or move first-reads to a path-disambiguated convention.
  • 13-Research/README.md does not reference the new artifacts (no mention of thesis-bundle-standard, first-read-standard, methodology-calibration, consensus-benchmarking, shadow-valuation-matrix). It correctly references sources-policy and the doctrine date-stamp.
  • Two orphan files at vault root (03-Valuation.md, TICKER.md, both 0 bytes) — flagged in optimization log 2026-05-25 line 36, persist across runs.

P1 — must fix to avoid confusion

  1. Resolve the first-read-standard.md ↔ Rules.md autonomy contradiction. Rewrite section "Decision authority" (lines 86-94) of first-read-standard.md so the continue decision is Tier 1 per the 2026-05-25 update. Remove the "Tier 2 — see Rules" hedge from line 78. The intent of the asymmetry paragraph (line 94) should be inverted — the kit now treats the full pipeline as Tier 1 with post-hoc review.
  2. Update alphasteve-daily-deep-value-scan-pm/SKILL.md lines 23 and 80 — remove all references to the 8:00 AM first-read task. Reframe Tier 1 promotion as "queued for first-read in tomorrow's 7:30 AM consolidated scan."
  3. Propagate PLTR doctrine refresh to Watchlist.md — trigger $60, central $85, last review 2026-05-24. Either re-classify the Backlog P2 item as Tier 1 and let optimization execute, or do it directly. The vault's quick-glance state is currently wrong on the load-bearing thesis.
  4. Log the 2026-05-25 autonomy doctrine update in methodology-calibration.md calibration-events section. The format established by the 2026-05-24 entry (trigger, change, expected impact, counter-test, documentation) is the right template.
  5. Update Welcome.md — fix the daily-rhythm table (lines 96-102) to reflect 7:30 AM scan, 11:00 AM thesis-builder, 4:30 PM PM scan; add a paragraph on the doctrine recalibration and the autonomy doctrine; add a "first-read stage" item to the typical workup flow (lines 113-126); remove the duplicate [first-read-standard](/brain/first-read-standard) on line 54.

P2 — should fix for clarity

  1. Update 05-decision-framework.md — add a preamble noting the first-read stage upstream of the five gates; soften Gate 3 to align with the Greenwald-modified EPV-plus-growth default; add a closing note on the post-hoc review model.
  2. Update investment-thesis-template.md — add first-read-standard to the Linked section and note in the preamble that the thesis is the escalation product of a continue first-read.
  3. Create the missing insider-signal-decoding.md skill file (or remove the dangling links from FCN/first-read-2026-05-25.md and Daily-Scans/2026-05-25.md). The pattern of agents referencing capabilities that don't yet exist will accumulate if left.
  4. Reconcile the Daily-Scans filename convention — either rename 2026-05-25.md to 2026-05-25-AM.md (matching SKILL.md spec) or update the AM scan and thesis-builder SKILL.md files to use the bare-date convention. The bare-date convention is simpler if there's only one scan run per day per AM/PM (the -PM.md afternoon file would still need a suffix).
  5. Repair the truncated PLTR-calibration.md — file ends mid-sentence at "broader lessons from th". Tier-3 protects calibration from autonomous edits, so the user needs to repair directly.
  6. Update _Start-Here/README.md — add the new artifacts to the framework references and note the methodology shift; flag the autonomy doctrine.
  7. Update Watchlist.md "Linked" section to reference thesis-bundle-standard and first-read-standard, and add a sentence on how thesis-builder-produced pass-with-trigger verdicts land here directly.
  8. Add an avoid decision value to first-read-standard.md (or remove the avoid references from the scan SKILL.md). Currently the frontmatter schema enumerates only continue | pass | shelve-with-trigger while the scan SKILL.md and run logs use avoid too.

P3 — nice-to-have

  1. Add a "Pipeline at a glance" diagram or table to Welcome.md showing scan → first-read → thesis-builder → verdict → routing, with the Tier classifications visible. Would make the new operating model immediately legible.
  2. Standardize first-read wiki-link naming — prefix with ticker ([FCN-first-read-2026-05-25](/brain/fcn-first-read-2026-05-25)) so bare-filename resolution doesn't collide when two tickers get first-reads on the same day.
  3. Sweep the two 0-byte orphan files (03-Valuation.md, TICKER.md at vault root) — already flagged in the 5/25 optimization log; persistent over multiple runs.
  4. Add first-read-standard to 13-Research/README.md Linked or mention the active-idea-refresh check, which is the touchpoint between research and the workbench.