Confirmed
An official or primary record: a regulator's resolution, an official gazette, a decision of a competition authority.
Method
Every note passes the same six steps, four levels and five automatic checks.
What follows is not a statement of principles: it is what the engine runs before an edition is printed. A note that fails any step is not published, and the edition comes out shorter.
THE CHAIN
- 01
Fact
What happened, written so that it can be checked against the document rather than believed.
- 02
Source
Who published it, named. If a reader cannot open it, it is not a source.
- 03
Date
When the fact occurred, not when it was read here. The two are different and only one is useful.
- 04
Confirmation
Which of the four levels below applies, stated on the note itself.
- 05
Interpretation
The reading of the house, in its own labelled block so you can reject it without touching the fact.
- 06
Implication for capital
What changes for whoever owns an asset or is looking for one, in this market and in this size band: USD 10 to 50 million.
THE FOUR LEVELS
They are not interchangeable, and the difference between them is the difference between evidence and inference.
Corroborated
Two independent accounts that agree, without a primary record behind them.
In progress
A process that has begun and has not concluded. Published as unfinished, because it is.
Signal
A pattern consistent with a movement, without the movement being established. The weakest level, and it is labelled.
THE FIVE AUTOMATIC CHECKS
Five automatic checks, each with an individual veto. One objection blocks the note; it does not average with the other four.
- 01
Fact auditor
Blocks any note whose six steps are not all present and whose claims are not traceable to its sources.
- 02
Temporal auditor
Blocks stale material. A fortnightly that presents an old fact as news misrepresents its own cadence.
- 03
Leakage auditor
Blocks anything that would publish what belongs to a client or to a subscriber who has not received it yet.
- 04
Reader in role
Reads the note as the person who has to decide, and blocks it when it says nothing that person can act on.
- 05
Redundancy and risk auditor
Blocks a note that restates another one, and one whose interpretation reaches further than its evidence.
Subscription
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