Investment Memo Craft

Purpose

Turn investment research into a decision-ready Codex research report. Keep the data discipline of the underlying research skill, but make the output easier for an investor to use: concrete business mechanics, sharp inverse thinking, explicit opportunity cost, action thresholds, and calm Markdown typography.

Use this as a writing and judgment overlay. It does not replace financial-data rules, primary-source checks, valuation tools, or report audit tooling.

For long-form AI Berkshire outputs, title the artifact as a "research report" by default. Use "investment memo" only when the user explicitly asks for a memo format.

This is a Codex-only hand-written skill kept under codex-skills/ for simple installation. Do not add a same-named skills/investment-memo-craft.md source unless intentionally adopting this workflow for Claude Code too.

Core Workflow

Open with context; reserve the full decision for after the evidence.
- In the first screen, state the research date, price, market cap, valuation, and a short thesis.
- Do not front-load the full buy/hold/sell table unless the user explicitly asks for an executive memo.
- Put the detailed recommendation, investor-specific actions, and price bands near the end, after business quality, risk, and valuation have been argued.
- Separate "good business" from "good investment at this price".