agent-trading.app Evidence-first advisory · Advisory only
2026-05-26 02:16 UTC

Current Investment Strategy

Portfolio Strategy Agent: Strategy Governor for survival-adjusted geometric CAGR. Primary objective: maximize survival-adjusted geometric CAGR. Best action today for compounding, without violating survival constraints. 10x over 10 years is a strategic ambition / calibration target, not an execution mandate or guarantee. Advisory only: no broker calls, no order placement.

Return Ambition / Cash Drag

10x over 10 years is a strategic ambition / calibration target, not an execution mandate.

Target CAGR: 25.9%

Cash drag: severe Required return on invested capital: 80.6% Deployment readiness: blocked Opportunity: under_deployed

Cash is 67.9%, about 57.9% above the active cash target; this is opportunity drag context, not automatic deployment advice. Candidate/reference target wording remains safe; deployment still requires snapshot, scope, thesis, staged-plan, product, risk, and MI gates. no_trade_placed=true

Current Investment Strategy

Defensive Rebalance

Posture: defensive

Active since: 2026-05-11T18:42:36.479920+00:00 · Days in play: 4.5302

The current strategy is Defensive Rebalance.

No trade placed. Strategy and reallocation guidance are advisory only.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot

Limitations: Portfolio snapshot is stale; portfolio-specific advice is downgraded. Snapshot is stale; update it before trusting portfolio-specific advice.

Review readiness: usable Market intelligence quality: high Decision impact: medium

Portfolio review can continue using snapshot, exposure, allocation policy, and risk rules. Does not block portfolio strategy review.

CORE_INVESTMENT

85.0% candidate rebuild target

Base prior only — not permanent target. 70.0%

Reference target only; not today's deployable target unless readiness gates pass.

ALPHA_SYSTEM

0.0% candidate rebuild target

Base prior only — not permanent target. 20.0%

Reference target only; not today's deployable target unless readiness gates pass.

CONVEX_BET

5.0% candidate rebuild target

Base prior only — not permanent target. 5.0%

Reference target only; not today's deployable target unless readiness gates pass.

CASH_RESERVE

10.0% candidate rebuild target

Base prior only — not permanent target. 5.0%

Reference target only; not today's deployable target unless readiness gates pass.

Why This Strategy Is Active

Alpha deployability is 0% because pod evidence is insufficient.

What Would Change This

Convex exposure falls below warning cap.

No X10/X20 exposure remains.

At least two alpha pods become micro_live_candidate or better.

Macro/regime context improves.

Portfolio drawdown and concentration risk normalize.

Review window: 14 days. No trade placed; advisory only.

Snapshot Basis

stale Strategy based on snapshot from 2026-05-16T17:52:00+02:00 imported 2026-05-16T07:26:01.050995+00:00.

Total 817645 SEK · Cash 554861 SEK (67.9%) · Positions 3.

Import a valid portfolio snapshot before acting.

Update Portfolio Snapshot

Today's Strategy Plan

Reduce / Exit

No reduce / exit actions.

Trim

No trim actions.

Hold

HOLD Hold: Amazon.com

Hold core if it fits the active strategy and concentration remains acceptable. · No portfolio step suggested. · no order created

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded. Advisory only — no trade placed.

HOLD Hold: Microsoft

Hold core if it fits the active strategy and concentration remains acceptable. · No portfolio step suggested. · no order created

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded. Advisory only — no trade placed.

HOLD Hold: CoreWeave

Hold core if it fits the active strategy and concentration remains acceptable. · No portfolio step suggested. · no order created

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded. Advisory only — no trade placed.

Add

No add actions.

Wait / Ignore

WAIT Wait: ALPHA_SYSTEM

Wait on alpha because deployable alpha is currently 0%. · No portfolio step suggested. · no order created

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded. Advisory only — no trade placed.

Market Intelligence Supporting Evidence

Market intelligence quality is partial; portfolio snapshot is fresh.

Portfolio snapshot: stale Signal feed: fresh Market Intelligence: available Macro regime: neutral Confidence: 0.50

Use as advisory market context only; do not treat it as trade authorization.

Market intelligence quality is partial (0.75); it is supporting evidence only. Portfolio snapshot and exposure are available. Signal scheduler is running, but latest signal is historical/stale. Macro regime exists but is unknown/low confidence. Missing: market_intel, news_event_risk, technical_context, volatility_context. Available: signal_health, signal_scheduler, market_intelligence_service, market_intelligence_regime, market_intelligence_digest, macro_regime_low_confidence.

Decision Impact

Decision impact: medium Review readiness: usable

Does not block portfolio strategy review. Snapshot and exposure are available; market intelligence is supporting evidence only.

Market Intelligence Source Health

MI: partial Sidecar reachable: yes MI API: running MI loop: running Scheduler: healthy / no fresh signals Macro: unknown_low_confidence

Local sidecar URL: http://127.0.0.1:8892. Market Intelligence API and loop are reachable.

Endpoints: /health, /v1/status, /v1/regime/latest, /v1/digests/latest, /v1/sources/health

Paid enrichment: disabled. Start API with ./manage_22.sh mi-start-api; start loop only after confirming enrichment settings.

Digest relevance: high · Portfolio relevant: yes

Relevant holdings: Microsoft

Relevant sectors: AI infrastructure, cloud, semiconductors, inflation

Digest quality warnings available in raw details. Count: 16.

Portfolio relevance profile is stale relative to latest snapshot.

Why Partial

Missing: market intel

Missing: news event risk

Missing: technical context

Missing: volatility context

Stale: market intelligence relevance profile

Stale: market intelligence relevance profile test tickers

What To Do

Continue using portfolio snapshot and risk rules only until market context improves.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

Run Strategy Agent after portfolio snapshot import.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

Allocation Impact

ALPHA_SYSTEM: ALPHA_SYSTEM: wait for evidence.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

CASH_RESERVE: CASH_RESERVE: preserve.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

CONVEX_BET: CONVEX_BET: do not chase.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

CORE_INVESTMENT: CORE_INVESTMENT: hold or selective unlevered add.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

Affected Sleeves / Holdings

ALPHA_SYSTEM

Near-Term Catalysts

US government increases AI suppliers and rethinks Anthropic’s role: holding_match

Google made agentic AI governance a product. Enterprises still have to catch up.: sector_match

Physical AI raises governance questions for autonomous systems: sector_match

What Not To Do

Do not add broad-market BULL certificates based only on macro optimism.

Evidence: policy_only Backtest: not_required Operator status: blocked Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

Do not let headlines override hard exposure blocks.

Evidence: policy_only Backtest: not_required Operator status: blocked Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

Do not act on historical signals.

Evidence: policy_only Backtest: not_required Operator status: blocked Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

Do not add convex exposure based on incomplete market context.

Evidence: policy_only Backtest: not_required Operator status: blocked Snapshot: fresh_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Market intelligence is supporting evidence only.

Show market intelligence raw details
{
  "_completeness": {
    "available_sources": [
      "portfolio_snapshot",
      "portfolio_exposure",
      "signal_health",
      "signal_scheduler",
      "market_intelligence_service",
      "market_intelligence_regime",
      "market_intelligence_digest",
      "macro_regime_low_confidence"
    ],
    "blocking_reasons": [
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      "macro_regime_unknown_low_confidence"
    ],
    "completeness_score": 0.75,
    "completeness_status": "partial",
    "missing_sources": [
      "market_intel",
      "news_event_risk",
      "technical_context",
      "volatility_context"
    ],
    "no_trade_placed": true,
    "operator_action_texts": [
      "Continue using portfolio snapshot and risk rules only until market context improves.",
      "Run Strategy Agent after portfolio snapshot import."
    ],
    "operator_actions": [
      {
        "action": "WAIT_FOR_MARKET_CONTEXT",
        "decision": "WARN",
        "display_text": "Continue using portfolio snapshot and risk rules only until market context improves.",
        "evidence_package": {
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            "limitations": [],
            "max_drawdown": null,
            "period": null,
            "quality": "unknown",
            "required": false,
            "return": null,
            "run_id": null,
            "status": "not_required",
            "strategy_id": null,
            "trade_count": null
          },
          "candidate_id": null,
          "confidence_tier": "low",
          "data_quality": "partial",
          "evidence_id": "ev_f94eaaef914b",
          "evidence_status": "policy_only",
          "evidence_version": "evidence1",
          "limitations": [
            "Market intelligence is supporting evidence only and is partial.",
            "Market intelligence is supporting evidence only.",
            "Market intelligence context is partial.",
            "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
            "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
            "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
          ],
          "market_context": {
            "decision_impact": "medium",
            "limitations": [
              "Market intelligence is supporting evidence only and is partial.",
              "Market intelligence is supporting evidence only.",
              "Market intelligence context is partial.",
              "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
              "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
              "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
            ],
            "required": true,
            "status": "partial"
          },
          "no_trade_placed": true,
          "operator_status": "wait",
          "policy_evidence": [
            {
              "actual_value": null,
              "breach_status": "warn",
              "no_trade_placed": true,
              "policy_name": "market_context",
              "reason": "Continue using portfolio snapshot and risk rules only until market context improves.",
              "rule": "WAIT_FOR_MARKET_CONTEXT",
              "threshold": null
            }
          ],
          "recommendation_id": "mi_guidance_415b484e2ead",
          "snapshot_id": 15,
          "snapshot_status": "fresh_snapshot",
          "snapshot_usable": true,
          "source": "market_context",
          "stress_evidence": []
        },
        "id": "mi_guidance_415b484e2ead",
        "is_operator_advice": true,
        "message": "Continue using portfolio snapshot and risk rules only until market context improves.",
        "no_trade_placed": true,
        "rationale": "Continue using portfolio snapshot and risk rules only until market context improves.",
        "source": "market_context",
        "title": "Continue using portfolio snapshot and risk rules only until market context impro"
      },
      {
        "action": "WAIT_FOR_MARKET_CONTEXT",
        "decision": "WARN",
        "display_text": "Run Strategy Agent after portfolio snapshot import.",
        "evidence_package": {
          "backtest": {
            "benchmark_comparison": null,
            "limitations": [],
            "max_drawdown": null,
            "period": null,
            "quality": "unknown",
            "required": false,
            "return": null,
            "run_id": null,
            "status": "not_required",
            "strategy_id": null,
            "trade_count": null
          },
          "candidate_id": null,
          "confidence_tier": "low",
          "data_quality": "partial",
          "evidence_id": "ev_4cb774b46cdc",
          "evidence_status": "policy_only",
          "evidence_version": "evidence1",
          "limitations": [
            "Market intelligence is supporting evidence only and is partial.",
            "Market intelligence is supporting evidence only.",
            "Market intelligence context is partial.",
            "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
            "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
            "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
          ],
          "market_context": {
            "decision_impact": "medium",
            "limitations": [
              "Market intelligence is supporting evidence only and is partial.",
              "Market intelligence is supporting evidence only.",
              "Market intelligence context is partial.",
              "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
              "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
              "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
            ],
            "required": true,
            "status": "partial"
          },
          "no_trade_placed": true,
          "operator_status": "wait",
          "policy_evidence": [
            {
              "actual_value": null,
              "breach_status": "warn",
              "no_trade_placed": true,
              "policy_name": "market_context",
              "reason": "Run Strategy Agent after portfolio snapshot import.",
              "rule": "WAIT_FOR_MARKET_CONTEXT",
              "threshold": null
            }
          ],
          "recommendation_id": "mi_guidance_d9a3a76db262",
          "snapshot_id": 15,
          "snapshot_status": "fresh_snapshot",
          "snapshot_usable": true,
          "source": "market_context",
          "stress_evidence": []
        },
        "id": "mi_guidance_d9a3a76db262",
        "is_operator_advice": true,
        "message": "Run Strategy Agent after portfolio snapshot import.",
        "no_trade_placed": true,
        "rationale": "Run Strategy Agent after portfolio snapshot import.",
        "source": "market_context",
        "title": "Run Strategy Agent after portfolio snapshot import"
      }
    ],
    "stale_sources": [
      "market_intelligence_relevance_profile",
      "market_intelligence_relevance_profile_test_tickers"
    ],
    "summary": "Market intelligence quality is partial (0.75); it is supporting evidence only. Portfolio snapshot and exposure are available. Signal scheduler is running, but latest signal is historical/stale. Macro regime exists but is unknown/low confidence. Missing: market_intel, news_event_risk, technical_context, volatility_context. Available: signal_health, signal_scheduler, market_intelligence_service, market_intelligence_regime, market_intelligence_digest, macro_regime_low_confidence.",
    "what_not_to_do": [
      {
        "action": "DO_NOT_USE_MARKET_CONTEXT_AS_AUTHORIZATION",
        "decision": "BLOCK",
        "display_text": "Do not act on historical signals.",
        "evidence_package": {
          "backtest": {
            "benchmark_comparison": null,
            "limitations": [],
            "max_drawdown": null,
            "period": null,
            "quality": "unknown",
            "required": false,
            "return": null,
            "run_id": null,
            "status": "not_required",
            "strategy_id": null,
            "trade_count": null
          },
          "candidate_id": null,
          "confidence_tier": "blocked",
          "data_quality": "partial",
          "evidence_id": "ev_d00e6b163660",
          "evidence_status": "policy_only",
          "evidence_version": "evidence1",
          "limitations": [
            "Market intelligence is supporting evidence only and is partial.",
            "Market intelligence is supporting evidence only.",
            "Market intelligence context is partial.",
            "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
            "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
            "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
          ],
          "market_context": {
            "decision_impact": "medium",
            "limitations": [
              "Market intelligence is supporting evidence only and is partial.",
              "Market intelligence is supporting evidence only.",
              "Market intelligence context is partial.",
              "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
              "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
              "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
            ],
            "required": true,
            "status": "partial"
          },
          "no_trade_placed": true,
          "operator_status": "blocked",
          "policy_evidence": [
            {
              "actual_value": null,
              "breach_status": "hard",
              "no_trade_placed": true,
              "policy_name": "market_context",
              "reason": "Do not act on historical signals.",
              "rule": "DO_NOT_USE_MARKET_CONTEXT_AS_AUTHORIZATION",
              "threshold": null
            }
          ],
          "recommendation_id": "mi_guidance_a683d2d7afbd",
          "snapshot_id": 15,
          "snapshot_status": "fresh_snapshot",
          "snapshot_usable": true,
          "source": "market_context",
          "stress_evidence": []
        },
        "id": "mi_guidance_a683d2d7afbd",
        "is_operator_advice": true,
        "message": "Do not act on historical signals.",
        "no_trade_placed": true,
        "rationale": "Do not act on historical signals.",
        "source": "market_context",
        "title": "Do not act on historical signals"
      },
      {
        "action": "DO_NOT_USE_MARKET_CONTEXT_AS_AUTHORIZATION",
        "decision": "BLOCK",
        "display_text": "Do not add convex exposure based on incomplete market context.",
        "evidence_package": {
          "backtest": {
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            "limitations": [],
            "max_drawdown": null,
            "period": null,
            "quality": "unknown",
            "required": false,
            "return": null,
            "run_id": null,
            "status": "not_required",
            "strategy_id": null,
            "trade_count": null
          },
          "candidate_id": null,
          "confidence_tier": "blocked",
          "data_quality": "partial",
          "evidence_id": "ev_531273920098",
          "evidence_status": "policy_only",
          "evidence_version": "evidence1",
          "limitations": [
            "Market intelligence is supporting evidence only and is partial.",
            "Market intelligence is supporting evidence only.",
            "Market intelligence context is partial.",
            "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
            "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
            "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
          ],
          "market_context": {
            "decision_impact": "medium",
            "limitations": [
              "Market intelligence is supporting evidence only and is partial.",
              "Market intelligence is supporting evidence only.",
              "Market intelligence context is partial.",
              "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
              "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
              "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
            ],
            "required": true,
            "status": "partial"
          },
          "no_trade_placed": true,
          "operator_status": "blocked",
          "policy_evidence": [
            {
              "actual_value": null,
              "breach_status": "hard",
              "no_trade_placed": true,
              "policy_name": "market_context",
              "reason": "Do not add convex exposure based on incomplete market context.",
              "rule": "DO_NOT_USE_MARKET_CONTEXT_AS_AUTHORIZATION",
              "threshold": null
            }
          ],
          "recommendation_id": "mi_guidance_9c3def01d0c8",
          "snapshot_id": 15,
          "snapshot_status": "fresh_snapshot",
          "snapshot_usable": true,
          "source": "market_context",
          "stress_evidence": []
        },
        "id": "mi_guidance_9c3def01d0c8",
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        "rationale": "Do not add convex exposure based on incomplete market context.",
        "source": "market_context",
        "title": "Do not add convex exposure based on incomplete market context"
      },
      {
        "action": "DO_NOT_USE_MARKET_CONTEXT_AS_AUTHORIZATION",
        "decision": "BLOCK",
        "display_text": "Do not let market headlines override hard risk blocks.",
        "evidence_package": {
          "backtest": {
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            "limitations": [],
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            "period": null,
            "quality": "unknown",
            "required": false,
            "return": null,
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            "status": "not_required",
            "strategy_id": null,
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          },
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          "evidence_id": "ev_5c7a0203c7c8",
          "evidence_status": "policy_only",
          "evidence_version": "evidence1",
          "limitations": [
            "Market intelligence is supporting evidence only and is partial.",
            "Market intelligence is supporting evidence only.",
            "Market intelligence context is partial.",
            "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
            "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
            "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
          ],
          "market_context": {
            "decision_impact": "medium",
            "limitations": [
              "Market intelligence is supporting evidence only and is partial.",
              "Market intelligence is supporting evidence only.",
              "Market intelligence context is partial.",
              "Missing MI sources: market_intel, news_event_risk, technical_context, volatility_context.",
              "Stale MI sources: market_intelligence_relevance_profile, market_intelligence_relevance_profile_test_tickers.",
              "Market-context limitations: scheduler_healthy_no_fresh_signals, macro_regime_unknown_low_confidence."
            ],
            "required": true,
            "status": "partial"
          },
          "no_trade_placed": true,
          "operator_status": "blocked",
          "policy_evidence": [
            {
              "actual_value": null,
              "breach_status": "hard",
              "no_trade_placed": true,
              "policy_name": "market_context",
              "reason": "Do not let market headlines override hard risk blocks.",
              "rule": "DO_NOT_USE_MARKET_CONTEXT_AS_AUTHORIZATION",
              "threshold": null
            }
          ],
          "recommendation_id": "mi_guidance_3ae2f1b29a95",
          "snapshot_id": 15,
          "snapshot_status": "fresh_snapshot",
          "snapshot_usable": true,
          "source": "market_context",
          "stress_evidence": []
        },
        "id": "mi_guidance_3ae2f1b29a95",
        "is_operator_advice": true,
        "message": "Do not let market headlines override hard risk blocks.",
        "no_trade_placed": true,
        "rationale": "Do not let market headlines override hard risk blocks.",
        "source": "market_context",
        "title": "Do not let market headlines override hard risk blocks"
      }
    ],
    "what_not_to_do_texts": [
      "Do not act on historical signals.",
      "Do not add convex exposure based on incomplete market context.",
      "Do not let market headlines override hard risk blocks."
    ]
  },
  "_digest_quality": {
    "digest_relevance_state": "high",
    "general_market_relevance_state": null,
    "general_market_themes": [],
    "headline": "Market Intelligence digest is portfolio-relevant.",
    "near_term_catalysts": [
      {
        "date": null,
        "name": "US government increases AI suppliers and rethinks Anthropic\u2019s role",
        "relevance": "holding_match"
      },
      {
        "date": null,
        "name": "Google made agentic AI governance a product. Enterprises still have to catch up.",
        "relevance": "sector_match"
      },
      {
        "date": null,
        "name": "Physical AI raises governance questions for autonomous systems",
        "relevance": "sector_match"
      },
      {
        "date": null,
        "name": "Google tests Remy AI agent for Gemini as focus turns to user control",
        "relevance": "sector_match"
      },
      {
        "date": null,
        "name": "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates",
        "relevance": "macro_context"
      }
    ],
    "no_trade_placed": true,
    "portfolio_context_fallback": null,
    "portfolio_context_limitation": null,
    "portfolio_context_status": null,
    "portfolio_context_usable": null,
    "portfolio_context_warnings": [],
    "portfolio_implication": "Use as advisory market context only; do not treat it as trade authorization.",
    "relevant_holdings": [
      "Microsoft"
    ],
    "relevant_sectors": [
      "AI infrastructure",
      "cloud",
      "semiconductors",
      "inflation"
    ],
    "source_concentration": {
      "high": false,
      "top_source": "AI News",
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        "id": 65,
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        "summary_excerpt": "\u003cp\u003eThe US administration has added four more AI companies to its roster of favoured suppliers, with the Pentagon signing agreements with Microsoft, Reflection AI (which has yet to release a publicly-available model), Amazon, and Nvidia that mean their products can be used on classified operations. The companies join OpenAI, xAI, and Google as companies that [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificialint",
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        "summary_excerpt": "\u003cp\u003eTwo weeks ago at Google Cloud Next \u0026#8217;26 in Las Vegas, Google did something the enterprise AI industry has been dancing around for the better part of two years: it\u0026#160;made\u0026#160;agentic AI governance a native product feature, not an afterthought. The centrepiece announcement was the Gemini Enterprise Agent Platform, pitched as the successor to Vertex AI [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
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        "summary_excerpt": "\u003cp\u003eGovernance around Physical AI is becoming harder as autonomous AI systems move into robots, sensors, and industrial equipment. The issue is not only whether AI agents can complete tasks. It is how their actions are tested, monitored, and stopped when they interact with real-world systems. Industrial robotics already provides a large base for that discussion. [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
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        "ticker": null,
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        "ticker": null,
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        "source": "SEC press releases",
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        "summary_excerpt": "The Securities and Exchange Commission today issued a conditional exemptive order that permits customer cross-margining of cash market positions in U.S. Treasury securities cleared by a registered clearing agency and futures positions in U.S. Treasury\u2026",
        "ticker": null,
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        "title": "SEC Approves Exemptive Order and Proposed Rule Change to Permit Customer Cross-Margining in the U.S. Treasury Market",
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        "ticker": null,
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        "ticker": null,
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        "summary_excerpt": "Copper refining now has a Strait of Hormuz problem.",
        "ticker": null,
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          "prompt_context": "Market Intelligence digest (daily) \u2014 advisory only, not trade instructions.\nAs-of 2026-05-13T11:34:27.500257+00:00 UTC\nRegime: neutral (score 0.50)\nHighlights (source-linked):\n- [65] US government increases AI suppliers and rethinks Anthropic\u2019s role | market_context | reason=holding_match | evidence=summary\n- [68] Google made agentic AI governance a product. Enterprises still have to catch up. | market_context | reason=sector_match | evidence=summary\n- [67] Physical AI raises governance questions for autonomous systems | market_context | reason=sector_match | evidence=summary\n- [66] Google tests Remy AI agent for Gemini as focus turns to user control | market_context | reason=sector_match | evidence=summary\n- [45] SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates | market_context | reason=macro_context | evidence=summary\n- [36] SEC Clarifies the Application of Federal Securities Laws to Crypto Assets | market_context | reason=macro_context | evidence=summary\n- [30] SEC Approves Exemptive Order and Proposed Rule Change to Permit Customer Cross-Margining in the U.S. Treasury Market | market_context | reason=macro_context | evidence=summary\n- [24] SEC Proposes Amendments to Permit Optional Semiannual Reporting by Public Companies | market_context | reason=macro_context | evidence=summary\n- [17] Federal Reserve Board announces it has made the joint findings with the Office of the Comptroller of the Currency required for the OCC to approve a request by Morgan Stanley Bank, N.A., for an exemption under section 23A of the Federal Rese | market_context | reason=macro_context | evidence=summary\n- [1] AI capex note | NVDA | reason=sector_match | evidence=n/a",
          "regime_summary": "neutral (score 0.50)",
          "relevant_holdings": [
            "Microsoft"
          ],
          "relevant_sectors": [
            "AI infrastructure",
            "cloud",
            "semiconductors",
            "inflation"
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          "risks": [
            "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates",
            "SEC Publishes Data on Public and Private Offerings, Municipal Advisors, Transfer Agents, and Securities-Based Swap Dealers",
            "AI capex note",
            "Intel\u2019s stock just guided the chip sector toward a sharp selloff. Here\u2019s why.",
            "What former poker champion turned investing coach Annie Duke says most of us get wrong about risk"
          ],
          "risks_json": "[\"SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates\", \"SEC Publishes Data on Public and Private Offerings, Municipal Advisors, Transfer Agents, and Securities-Based Swap Dealers\", \"AI capex note\", \"Intel\u2019s stock just guided the chip sector toward a sharp selloff. Here\u2019s why.\", \"What former poker champion turned investing coach Annie Duke says most of us get wrong about risk\"]",
          "source_concentration": {
            "high": false,
            "top_source": "AI News",
            "top_source_share": 0.3333
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          "source_quality_warnings": [
            "filtered_false_ticker:AN",
            "filtered_false_ticker:AS",
            "filtered_false_ticker:AT",
            "filtered_false_ticker:BY",
            "filtered_false_ticker:DATA",
            "filtered_false_ticker:FINAL",
            "filtered_false_ticker:FSA",
            "filtered_false_ticker:IN",
            "filtered_false_ticker:IS",
            "filtered_false_ticker:IT",
            "filtered_false_ticker:JUDGE",
            "filtered_false_ticker:MONTH",
            "filtered_false_ticker:NEW",
            "filtered_false_ticker:OF",
            "filtered_false_ticker:ON",
            "filtered_false_ticker:TO"
          ],
          "summary": "12 advisory bulletins selected; relevance=high; holdings: Microsoft; sectors: AI infrastructure, cloud, semiconductors, inflation.",
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            "filtered_false_ticker:OF",
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          "title": "Market Intelligence digest is portfolio-relevant.",
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              "id": 65,
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              "summary_excerpt": "\u003cp\u003eThe US administration has added four more AI companies to its roster of favoured suppliers, with the Pentagon signing agreements with Microsoft, Reflection AI (which has yet to release a publicly-available model), Amazon, and Nvidia that mean their products can be used on classified operations. The companies join OpenAI, xAI, and Google as companies that [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificialint",
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              "summary_excerpt": "\u003cp\u003eTwo weeks ago at Google Cloud Next \u0026#8217;26 in Las Vegas, Google did something the enterprise AI industry has been dancing around for the better part of two years: it\u0026#160;made\u0026#160;agentic AI governance a native product feature, not an afterthought. The centrepiece announcement was the Gemini Enterprise Agent Platform, pitched as the successor to Vertex AI [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
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              "source": "AI News",
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              "summary_excerpt": "\u003cp\u003eGovernance around Physical AI is becoming harder as autonomous AI systems move into robots, sensors, and industrial equipment. The issue is not only whether AI agents can complete tasks. It is how their actions are tested, monitored, and stopped when they interact with real-world systems. Industrial robotics already provides a large base for that discussion. [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
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              "ticker": null,
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              "source": "SEC press releases",
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              "summary_excerpt": "The Securities and Exchange Commission today announced it will hold a roundtable on March 4 to discuss private market valuations and responsible retailization.The roundtable will be hosted by the Division of Investment Management from 1 p.m. to 3 p.m. ET\u2026",
              "ticker": null,
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              "title": "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates",
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              "summary_excerpt": "The Securities and Exchange Commission (SEC) today issued an interpretation clarifying how the federal securities laws apply to certain crypto assets and transactions involving crypto assets. This is a major step in the Commission\u2019s efforts to provide\u2026",
              "ticker": null,
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              "summary_excerpt": "The Securities and Exchange Commission today issued a conditional exemptive order that permits customer cross-margining of cash market positions in U.S. Treasury securities cleared by a registered clearing agency and futures positions in U.S. Treasury\u2026",
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              "summary_excerpt": "NVDA, AMD and AVGO may benefit from continued AI infrastructure spending, but valuations and crowding risk are elevated.",
              "ticker": "NVDA",
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              "source": "MarketWatch top stories",
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              "ticker": null,
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              "title": "Intel\u2019s stock just guided the chip sector toward a sharp selloff. Here\u2019s why.",
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              "summary_excerpt": "Copper refining now has a Strait of Hormuz problem.",
              "ticker": null,
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              "title": "Copper prices are now at their highest level on record. AI is only part of the story.",
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The companies join OpenAI, xAI, and Google as companies that [\u0026#8230;]\u003c/p\u003e\\n\u003cp\u003eThe post \u003ca href=\\\"https://www.artificialint\"}, {\"id\": 68, \"title\": \"Google made agentic AI governance a product. Enterprises still have to catch up.\", \"ticker\": null, \"tickers\": [], \"relevance\": 0.98, \"base_relevance\": 0.7999999999999999, \"top_relevance_reason\": \"sector_match\", \"relevant_holdings\": [], \"relevant_sectors\": [\"cloud\", \"AI infrastructure\"], \"evidence\": \"summary\", \"source\": \"AI News\", \"source_category\": \"unknown\", \"summary_excerpt\": \"\u003cp\u003eTwo weeks ago at Google Cloud Next \u0026#8217;26 in Las Vegas, Google did something the enterprise AI industry has been dancing around for the better part of two years: it\u0026#160;made\u0026#160;agentic AI governance a native product feature, not an afterthought. 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          "direction": "LONG",
          "ticker": "QCOM"
        }
      ],
      "warnings": [
        "latest scheduler cycle produced 0 signals across all active pods"
      ]
    },
    "source": "local_safe_sources",
    "summary": "No strong local macro/regime signal is available; use conservative prior.",
    "supporting_evidence": {
      "exposure": {
        "asof": "2026-05-16T17:52:00+02:00",
        "available_cash_sek": 554861.43,
        "cash_pct": 0.678609,
        "certificate_count": 0,
        "certificate_market_value_pct": 0.0,
        "certificate_market_value_sek": 0,
        "gross_exposure_proxy_sek": 262782.59,
        "incremental_leverage_proxy_sek": 0,
        "invested_market_value_sek": 262782.59,
        "leverage_weighted_exposure_proxy_pct": 0.32139,
        "leverage_weighted_exposure_proxy_sek": 262782.59,
        "leveraged_market_value_pct": 0.0,
        "leveraged_market_value_sek": 0,
        "market_value_by_bucket_guess": {
          "CORE_INVESTMENT": 262782.59
        },
        "market_value_by_product_type": {
          "stock": 262782.59
        },
        "max_leverage": 1.0,
        "ok": true,
        "snapshot_id": 15,
        "snapshot_key": "portfolio_d2e4569aaeb0",
        "top_leveraged_positions": [],
        "total_value_sek": 817645.02,
        "warnings": []
      },
      "signal_health": {
        "active_pods": [
          "cross_asset_trend",
          "index_mean_reversion",
          "relative_strength",
          "event_reversal"
        ],
        "active_pods_zero_signals_latest_cycle": [
          "cross_asset_trend",
          "event_reversal",
          "index_mean_reversion"
        ],
        "by_deploy_status_24h": {
          "YES": 3
        },
        "by_pod_24h": [
          {
            "count": 3,
            "pod": "relative_strength"
          }
        ],
        "latest_scheduler_cycle_at": "2026-05-16T07:21:55.451482+00:00",
        "latest_scheduler_cycle_signal_count": 0,
        "latest_signal_age_minutes": 355.26,
        "latest_signal_at": "2026-05-16T01:30:45.677047+00:00",
        "latest_signal_cycle_id": "2026-05-16T01:30:45",
        "latest_signal_producing_cycle_signal_count": 3,
        "latest_successful_cycle_at": "2026-05-16T07:21:55.451482+00:00",
        "signals_24h": 3,
        "signals_7d": 21,
        "stale_signal_hours": 12.0,
        "state": "FRESH_SIGNALS",
        "suspected_test_tickers": [],
        "top_repeated_symbols_7d": [
          {
            "count": 7,
            "direction": "LONG",
            "ticker": "AMD"
          },
          {
            "count": 7,
            "direction": "LONG",
            "ticker": "DDOG"
          },
          {
            "count": 7,
            "direction": "LONG",
            "ticker": "QCOM"
          }
        ],
        "warnings": [
          "latest scheduler cycle produced 0 signals across all active pods"
        ]
      }
    },
    "technical_context": {},
    "volatility_context": {},
    "warnings": []
  },
  "market_intel": {},
  "market_intelligence_digest": {
    "digest": {
      "asof": "2026-05-13T11:34:27.500257+00:00",
      "created_at": "2026-05-13T11:34:27.538172+00:00",
      "digest_relevance_state": "high",
      "digest_type": "daily",
      "headline": "Market Intelligence digest is portfolio-relevant.",
      "id": 5,
      "metadata": {
        "digest_relevance_state": "high",
        "headline": "Market Intelligence digest is portfolio-relevant.",
        "near_term_catalysts": [
          {
            "date": null,
            "name": "US government increases AI suppliers and rethinks Anthropic\u2019s role",
            "relevance": "holding_match"
          },
          {
            "date": null,
            "name": "Google made agentic AI governance a product. Enterprises still have to catch up.",
            "relevance": "sector_match"
          },
          {
            "date": null,
            "name": "Physical AI raises governance questions for autonomous systems",
            "relevance": "sector_match"
          },
          {
            "date": null,
            "name": "Google tests Remy AI agent for Gemini as focus turns to user control",
            "relevance": "sector_match"
          },
          {
            "date": null,
            "name": "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates",
            "relevance": "macro_context"
          }
        ],
        "no_trade_placed": true,
        "portfolio_implication": "Use as advisory market context only; do not treat it as trade authorization.",
        "relevant_holdings": [
          "Microsoft"
        ],
        "relevant_sectors": [
          "AI infrastructure",
          "cloud",
          "semiconductors",
          "inflation"
        ],
        "source_concentration": {
          "high": false,
          "top_source": "AI News",
          "top_source_share": 0.3333
        },
        "source_quality_warnings": [
          "filtered_false_ticker:AN",
          "filtered_false_ticker:AS",
          "filtered_false_ticker:AT",
          "filtered_false_ticker:BY",
          "filtered_false_ticker:DATA",
          "filtered_false_ticker:FINAL",
          "filtered_false_ticker:FSA",
          "filtered_false_ticker:IN",
          "filtered_false_ticker:IS",
          "filtered_false_ticker:IT",
          "filtered_false_ticker:JUDGE",
          "filtered_false_ticker:MONTH",
          "filtered_false_ticker:NEW",
          "filtered_false_ticker:OF",
          "filtered_false_ticker:ON",
          "filtered_false_ticker:TO"
        ],
        "ticker_extraction_warnings": [
          "filtered_false_ticker:AN",
          "filtered_false_ticker:AS",
          "filtered_false_ticker:AT",
          "filtered_false_ticker:BY",
          "filtered_false_ticker:DATA",
          "filtered_false_ticker:FINAL",
          "filtered_false_ticker:FSA",
          "filtered_false_ticker:IN",
          "filtered_false_ticker:IS",
          "filtered_false_ticker:IT",
          "filtered_false_ticker:JUDGE",
          "filtered_false_ticker:MONTH",
          "filtered_false_ticker:NEW",
          "filtered_false_ticker:OF",
          "filtered_false_ticker:ON",
          "filtered_false_ticker:TO"
        ],
        "what_changed": [
          "US government increases AI suppliers and rethinks Anthropic\u2019s role",
          "Google made agentic AI governance a product. Enterprises still have to catch up.",
          "Physical AI raises governance questions for autonomous systems",
          "Google tests Remy AI agent for Gemini as focus turns to user control",
          "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates"
        ],
        "what_not_to_do": [
          "Do not treat Market Intelligence as a trade instruction.",
          "Do not add leveraged exposure from headlines alone.",
          "Do not promote low-relevance regulatory items into portfolio signals."
        ]
      },
      "metadata_json": "{\"headline\": \"Market Intelligence digest is portfolio-relevant.\", \"what_changed\": [\"US government increases AI suppliers and rethinks Anthropic\u2019s role\", \"Google made agentic AI governance a product. Enterprises still have to catch up.\", \"Physical AI raises governance questions for autonomous systems\", \"Google tests Remy AI agent for Gemini as focus turns to user control\", \"SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates\"], \"portfolio_implication\": \"Use as advisory market context only; do not treat it as trade authorization.\", \"relevant_holdings\": [\"Microsoft\"], \"relevant_sectors\": [\"AI infrastructure\", \"cloud\", \"semiconductors\", \"inflation\"], \"near_term_catalysts\": [{\"name\": \"US government increases AI suppliers and rethinks Anthropic\u2019s role\", \"date\": null, \"relevance\": \"holding_match\"}, {\"name\": \"Google made agentic AI governance a product. Enterprises still have to catch up.\", \"date\": null, \"relevance\": \"sector_match\"}, {\"name\": \"Physical AI raises governance questions for autonomous systems\", \"date\": null, \"relevance\": \"sector_match\"}, {\"name\": \"Google tests Remy AI agent for Gemini as focus turns to user control\", \"date\": null, \"relevance\": \"sector_match\"}, {\"name\": \"SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates\", \"date\": null, \"relevance\": \"macro_context\"}], \"what_not_to_do\": [\"Do not treat Market Intelligence as a trade instruction.\", \"Do not add leveraged exposure from headlines alone.\", \"Do not promote low-relevance regulatory items into portfolio signals.\"], \"source_quality_warnings\": [\"filtered_false_ticker:AN\", \"filtered_false_ticker:AS\", \"filtered_false_ticker:AT\", \"filtered_false_ticker:BY\", \"filtered_false_ticker:DATA\", \"filtered_false_ticker:FINAL\", \"filtered_false_ticker:FSA\", \"filtered_false_ticker:IN\", \"filtered_false_ticker:IS\", \"filtered_false_ticker:IT\", \"filtered_false_ticker:JUDGE\", \"filtered_false_ticker:MONTH\", \"filtered_false_ticker:NEW\", \"filtered_false_ticker:OF\", \"filtered_false_ticker:ON\", \"filtered_false_ticker:TO\"], \"ticker_extraction_warnings\": [\"filtered_false_ticker:AN\", \"filtered_false_ticker:AS\", \"filtered_false_ticker:AT\", \"filtered_false_ticker:BY\", \"filtered_false_ticker:DATA\", \"filtered_false_ticker:FINAL\", \"filtered_false_ticker:FSA\", \"filtered_false_ticker:IN\", \"filtered_false_ticker:IS\", \"filtered_false_ticker:IT\", \"filtered_false_ticker:JUDGE\", \"filtered_false_ticker:MONTH\", \"filtered_false_ticker:NEW\", \"filtered_false_ticker:OF\", \"filtered_false_ticker:ON\", \"filtered_false_ticker:TO\"], \"digest_relevance_state\": \"high\", \"source_concentration\": {\"high\": false, \"top_source\": \"AI News\", \"top_source_share\": 0.3333}, \"no_trade_placed\": true}",
      "near_term_catalysts": [
        {
          "date": null,
          "name": "US government increases AI suppliers and rethinks Anthropic\u2019s role",
          "relevance": "holding_match"
        },
        {
          "date": null,
          "name": "Google made agentic AI governance a product. Enterprises still have to catch up.",
          "relevance": "sector_match"
        },
        {
          "date": null,
          "name": "Physical AI raises governance questions for autonomous systems",
          "relevance": "sector_match"
        },
        {
          "date": null,
          "name": "Google tests Remy AI agent for Gemini as focus turns to user control",
          "relevance": "sector_match"
        },
        {
          "date": null,
          "name": "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates",
          "relevance": "macro_context"
        }
      ],
      "no_trade_placed": true,
      "opportunities": [
        "AI capex note"
      ],
      "opportunities_json": "[\"AI capex note\"]",
      "portfolio_implication": "Use as advisory market context only; do not treat it as trade authorization.",
      "prompt_context": "Market Intelligence digest (daily) \u2014 advisory only, not trade instructions.\nAs-of 2026-05-13T11:34:27.500257+00:00 UTC\nRegime: neutral (score 0.50)\nHighlights (source-linked):\n- [65] US government increases AI suppliers and rethinks Anthropic\u2019s role | market_context | reason=holding_match | evidence=summary\n- [68] Google made agentic AI governance a product. Enterprises still have to catch up. | market_context | reason=sector_match | evidence=summary\n- [67] Physical AI raises governance questions for autonomous systems | market_context | reason=sector_match | evidence=summary\n- [66] Google tests Remy AI agent for Gemini as focus turns to user control | market_context | reason=sector_match | evidence=summary\n- [45] SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates | market_context | reason=macro_context | evidence=summary\n- [36] SEC Clarifies the Application of Federal Securities Laws to Crypto Assets | market_context | reason=macro_context | evidence=summary\n- [30] SEC Approves Exemptive Order and Proposed Rule Change to Permit Customer Cross-Margining in the U.S. Treasury Market | market_context | reason=macro_context | evidence=summary\n- [24] SEC Proposes Amendments to Permit Optional Semiannual Reporting by Public Companies | market_context | reason=macro_context | evidence=summary\n- [17] Federal Reserve Board announces it has made the joint findings with the Office of the Comptroller of the Currency required for the OCC to approve a request by Morgan Stanley Bank, N.A., for an exemption under section 23A of the Federal Rese | market_context | reason=macro_context | evidence=summary\n- [1] AI capex note | NVDA | reason=sector_match | evidence=n/a",
      "regime_summary": "neutral (score 0.50)",
      "relevant_holdings": [
        "Microsoft"
      ],
      "relevant_sectors": [
        "AI infrastructure",
        "cloud",
        "semiconductors",
        "inflation"
      ],
      "risks": [
        "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates",
        "SEC Publishes Data on Public and Private Offerings, Municipal Advisors, Transfer Agents, and Securities-Based Swap Dealers",
        "AI capex note",
        "Intel\u2019s stock just guided the chip sector toward a sharp selloff. Here\u2019s why.",
        "What former poker champion turned investing coach Annie Duke says most of us get wrong about risk"
      ],
      "risks_json": "[\"SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates\", \"SEC Publishes Data on Public and Private Offerings, Municipal Advisors, Transfer Agents, and Securities-Based Swap Dealers\", \"AI capex note\", \"Intel\u2019s stock just guided the chip sector toward a sharp selloff. Here\u2019s why.\", \"What former poker champion turned investing coach Annie Duke says most of us get wrong about risk\"]",
      "source_concentration": {
        "high": false,
        "top_source": "AI News",
        "top_source_share": 0.3333
      },
      "source_quality_warnings": [
        "filtered_false_ticker:AN",
        "filtered_false_ticker:AS",
        "filtered_false_ticker:AT",
        "filtered_false_ticker:BY",
        "filtered_false_ticker:DATA",
        "filtered_false_ticker:FINAL",
        "filtered_false_ticker:FSA",
        "filtered_false_ticker:IN",
        "filtered_false_ticker:IS",
        "filtered_false_ticker:IT",
        "filtered_false_ticker:JUDGE",
        "filtered_false_ticker:MONTH",
        "filtered_false_ticker:NEW",
        "filtered_false_ticker:OF",
        "filtered_false_ticker:ON",
        "filtered_false_ticker:TO"
      ],
      "summary": "12 advisory bulletins selected; relevance=high; holdings: Microsoft; sectors: AI infrastructure, cloud, semiconductors, inflation.",
      "ticker_extraction_warnings": [
        "filtered_false_ticker:AN",
        "filtered_false_ticker:AS",
        "filtered_false_ticker:AT",
        "filtered_false_ticker:BY",
        "filtered_false_ticker:DATA",
        "filtered_false_ticker:FINAL",
        "filtered_false_ticker:FSA",
        "filtered_false_ticker:IN",
        "filtered_false_ticker:IS",
        "filtered_false_ticker:IT",
        "filtered_false_ticker:JUDGE",
        "filtered_false_ticker:MONTH",
        "filtered_false_ticker:NEW",
        "filtered_false_ticker:OF",
        "filtered_false_ticker:ON",
        "filtered_false_ticker:TO"
      ],
      "title": "Market Intelligence digest is portfolio-relevant.",
      "top_bulletins": [
        {
          "base_relevance": 0.7999999999999999,
          "evidence": "summary",
          "id": 65,
          "relevance": 1.0,
          "relevant_holdings": [
            "Microsoft"
          ],
          "relevant_sectors": [
            "AI infrastructure"
          ],
          "source": "AI News",
          "source_category": "unknown",
          "summary_excerpt": "\u003cp\u003eThe US administration has added four more AI companies to its roster of favoured suppliers, with the Pentagon signing agreements with Microsoft, Reflection AI (which has yet to release a publicly-available model), Amazon, and Nvidia that mean their products can be used on classified operations. The companies join OpenAI, xAI, and Google as companies that [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificialint",
          "ticker": null,
          "tickers": [],
          "title": "US government increases AI suppliers and rethinks Anthropic\u2019s role",
          "top_relevance_reason": "holding_match"
        },
        {
          "base_relevance": 0.7999999999999999,
          "evidence": "summary",
          "id": 68,
          "relevance": 0.98,
          "relevant_holdings": [],
          "relevant_sectors": [
            "cloud",
            "AI infrastructure"
          ],
          "source": "AI News",
          "source_category": "unknown",
          "summary_excerpt": "\u003cp\u003eTwo weeks ago at Google Cloud Next \u0026#8217;26 in Las Vegas, Google did something the enterprise AI industry has been dancing around for the better part of two years: it\u0026#160;made\u0026#160;agentic AI governance a native product feature, not an afterthought. The centrepiece announcement was the Gemini Enterprise Agent Platform, pitched as the successor to Vertex AI [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
          "ticker": null,
          "tickers": [],
          "title": "Google made agentic AI governance a product. Enterprises still have to catch up.",
          "top_relevance_reason": "sector_match"
        },
        {
          "base_relevance": 0.7999999999999999,
          "evidence": "summary",
          "id": 67,
          "relevance": 0.98,
          "relevant_holdings": [],
          "relevant_sectors": [
            "AI infrastructure"
          ],
          "source": "AI News",
          "source_category": "unknown",
          "summary_excerpt": "\u003cp\u003eGovernance around Physical AI is becoming harder as autonomous AI systems move into robots, sensors, and industrial equipment. The issue is not only whether AI agents can complete tasks. It is how their actions are tested, monitored, and stopped when they interact with real-world systems. Industrial robotics already provides a large base for that discussion. [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
          "ticker": null,
          "tickers": [],
          "title": "Physical AI raises governance questions for autonomous systems",
          "top_relevance_reason": "sector_match"
        },
        {
          "base_relevance": 0.7999999999999999,
          "evidence": "summary",
          "id": 66,
          "relevance": 0.98,
          "relevant_holdings": [],
          "relevant_sectors": [
            "AI infrastructure"
          ],
          "source": "AI News",
          "source_category": "unknown",
          "summary_excerpt": "\u003cp\u003eGoogle is testing Remy, a new AI personal agent for Gemini, according to Business Insider. The tool is designed to take actions for users in work and daily tasks. Remy is being tested in a staff-only version of the Gemini app. The report said it reviewed an internal document and spoke with two people familiar [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificialintelligence-news.com/news/google-remy-ai-agent-g",
          "ticker": null,
          "tickers": [],
          "title": "Google tests Remy AI agent for Gemini as focus turns to user control",
          "top_relevance_reason": "sector_match"
        },
        {
          "base_relevance": 0.85,
          "evidence": "summary",
          "id": 45,
          "relevance": 0.97,
          "relevant_holdings": [],
          "relevant_sectors": [],
          "source": "SEC press releases",
          "source_category": "official_company",
          "summary_excerpt": "The Securities and Exchange Commission today announced it will hold a roundtable on March 4 to discuss private market valuations and responsible retailization.The roundtable will be hosted by the Division of Investment Management from 1 p.m. to 3 p.m. ET\u2026",
          "ticker": null,
          "tickers": [],
          "title": "SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates",
          "top_relevance_reason": "macro_context"
        },
        {
          "base_relevance": 0.85,
          "evidence": "summary",
          "id": 36,
          "relevance": 0.97,
          "relevant_holdings": [],
          "relevant_sectors": [],
          "source": "SEC press releases",
          "source_category": "official_company",
          "summary_excerpt": "The Securities and Exchange Commission (SEC) today issued an interpretation clarifying how the federal securities laws apply to certain crypto assets and transactions involving crypto assets. This is a major step in the Commission\u2019s efforts to provide\u2026",
          "ticker": null,
          "tickers": [],
          "title": "SEC Clarifies the Application of Federal Securities Laws to Crypto Assets",
          "top_relevance_reason": "macro_context"
        },
        {
          "base_relevance": 0.85,
          "evidence": "summary",
          "id": 30,
          "relevance": 0.97,
          "relevant_holdings": [],
          "relevant_sectors": [],
          "source": "SEC press releases",
          "source_category": "official_company",
          "summary_excerpt": "The Securities and Exchange Commission today issued a conditional exemptive order that permits customer cross-margining of cash market positions in U.S. Treasury securities cleared by a registered clearing agency and futures positions in U.S. Treasury\u2026",
          "ticker": null,
          "tickers": [],
          "title": "SEC Approves Exemptive Order and Proposed Rule Change to Permit Customer Cross-Margining in the U.S. Treasury Market",
          "top_relevance_reason": "macro_context"
        },
        {
          "base_relevance": 0.85,
          "evidence": "summary",
          "id": 24,
          "relevance": 0.97,
          "relevant_holdings": [],
          "relevant_sectors": [],
          "source": "SEC press releases",
          "source_category": "official_company",
          "summary_excerpt": "The Securities and Exchange Commission today proposed rule and form amendments that would give public companies the option of filing semiannual reports in lieu of quarterly reports to meet their interim reporting obligations under the federal securities\u2026",
          "ticker": null,
          "tickers": [],
          "title": "SEC Proposes Amendments to Permit Optional Semiannual Reporting by Public Companies",
          "top_relevance_reason": "macro_context"
        },
        {
          "base_relevance": 0.7999999999999999,
          "evidence": "summary",
          "id": 17,
          "relevance": 0.92,
          "relevant_holdings": [],
          "relevant_sectors": [],
          "source": "Federal Reserve press releases",
          "source_category": "official_macro",
          "summary_excerpt": "Federal Reserve Board announces it has made the joint findings with the Office of the Comptroller of the Currency required for the OCC to approve a request by Morgan Stanley Bank, N.A., for an exemption under section 23A of the Federal Reserve Act",
          "ticker": null,
          "tickers": [],
          "title": "Federal Reserve Board announces it has made the joint findings with the Office of the Comptroller of the Currency required for the OCC to approve a request by Morgan Stanley Bank, N.A., for an exemption under section 23A of the Federal Rese",
          "top_relevance_reason": "macro_context"
        },
        {
          "base_relevance": 0.7315999999999999,
          "evidence": "",
          "id": 1,
          "relevance": 0.9116,
          "relevant_holdings": [],
          "relevant_sectors": [
            "AI infrastructure"
          ],
          "source": null,
          "source_category": "unknown",
          "summary_excerpt": "NVDA, AMD and AVGO may benefit from continued AI infrastructure spending, but valuations and crowding risk are elevated.",
          "ticker": "NVDA",
          "tickers": [
            "NVDA",
            "AMD",
            "AVGO"
          ],
          "title": "AI capex note",
          "top_relevance_reason": "sector_match"
        },
        {
          "base_relevance": 0.7,
          "evidence": "summary",
          "id": 55,
          "relevance": 0.88,
          "relevant_holdings": [],
          "relevant_sectors": [
            "AI infrastructure",
            "semiconductors",
            "inflation"
          ],
          "source": "MarketWatch top stories",
          "source_category": "unknown",
          "summary_excerpt": "Analysts note \u201cbuyer exhaustion\u201d and market concerns about what the latest inflation data may mean for future data-center spending commitments.",
          "ticker": null,
          "tickers": [],
          "title": "Intel\u2019s stock just guided the chip sector toward a sharp selloff. Here\u2019s why.",
          "top_relevance_reason": "sector_match"
        },
        {
          "base_relevance": 0.7,
          "evidence": "summary",
          "id": 54,
          "relevance": 0.88,
          "relevant_holdings": [],
          "relevant_sectors": [
            "AI infrastructure"
          ],
          "source": "MarketWatch top stories",
          "source_category": "unknown",
          "summary_excerpt": "Copper refining now has a Strait of Hormuz problem.",
          "ticker": null,
          "tickers": [],
          "title": "Copper prices are now at their highest level on record. AI is only part of the story.",
          "top_relevance_reason": "sector_match"
        }
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          "title": "Market Intelligence digest is portfolio-relevant.",
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              "id": 65,
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              "summary_excerpt": "\u003cp\u003eThe US administration has added four more AI companies to its roster of favoured suppliers, with the Pentagon signing agreements with Microsoft, Reflection AI (which has yet to release a publicly-available model), Amazon, and Nvidia that mean their products can be used on classified operations. The companies join OpenAI, xAI, and Google as companies that [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificialint",
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              "summary_excerpt": "\u003cp\u003eTwo weeks ago at Google Cloud Next \u0026#8217;26 in Las Vegas, Google did something the enterprise AI industry has been dancing around for the better part of two years: it\u0026#160;made\u0026#160;agentic AI governance a native product feature, not an afterthought. The centrepiece announcement was the Gemini Enterprise Agent Platform, pitched as the successor to Vertex AI [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
              "ticker": null,
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              "title": "Google made agentic AI governance a product. Enterprises still have to catch up.",
              "top_relevance_reason": "sector_match"
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              "evidence": "summary",
              "id": 67,
              "relevance": 0.98,
              "relevant_holdings": [],
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              ],
              "source": "AI News",
              "source_category": "unknown",
              "summary_excerpt": "\u003cp\u003eGovernance around Physical AI is becoming harder as autonomous AI systems move into robots, sensors, and industrial equipment. The issue is not only whether AI agents can complete tasks. It is how their actions are tested, monitored, and stopped when they interact with real-world systems. Industrial robotics already provides a large base for that discussion. [\u0026#8230;]\u003c/p\u003e\n\u003cp\u003eThe post \u003ca href=\"https://www.artificia",
              "ticker": null,
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              "title": "Physical AI raises governance questions for autonomous systems",
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Gradual Reallocation Plan

Gradual advisory plan for Defensive Rebalance: move from current allocation toward active target over 14 days.

Horizon: 14 days

What Not To Do

Do not force alpha trades just because the alpha target exists.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Portfolio snapshot is stale; portfolio-specific advice is downgraded. Snapshot is stale; update it before trusting portfolio-specific advice.

Do not expand convex exposure to replace weak alpha evidence.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Portfolio snapshot is stale; portfolio-specific advice is downgraded. Snapshot is stale; update it before trusting portfolio-specific advice.

Do not treat 70/20/5/5 as a permanent target.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Portfolio snapshot is stale; portfolio-specific advice is downgraded. Snapshot is stale; update it before trusting portfolio-specific advice.

Do not treat 70/20/5/5 as permanently optimal.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Portfolio snapshot is stale; portfolio-specific advice is downgraded. Snapshot is stale; update it before trusting portfolio-specific advice.

Do not force alpha allocation when evidence is weak.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Portfolio snapshot is stale; portfolio-specific advice is downgraded. Snapshot is stale; update it before trusting portfolio-specific advice.

Core Holdings Are Not Sacred

Core holdings may be held, added, trimmed, or sold if the active strategy and evidence justify it. The system prefers gradual changes unless risk blocks require faster reduction.

Strategy Timeline

Defensive Rebalance · active · since 2026-05-11T18:42:36.479920+00:00 · days 4.5302

Capital Protection / Defensive Rebuild · superseded · since 2026-05-11T18:27:58.936789+00:00 · days 0

Defensive Rebalance · superseded · since 2026-05-11T15:39:47.563853+00:00 · days 0.0008

Capital Protection / Defensive Rebuild · superseded · since 2026-05-11T09:26:58.191355+00:00 · days 0

Capital Protection / Defensive Rebuild · superseded · since 2026-05-10T15:43:44.083398+00:00 · days 0

Details: pod readiness, adaptive allocation, evidence, and raw recommendations

Adaptive Allocation Governor

Objective: Maximize survival-adjusted geometric CAGR while preserving the ability to keep compounding.

Base prior: 70% Core / 20% Alpha / 5% Convex / 5% Cash

Base prior, not permanent target.

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

SleeveBase priorCandidate rebuild targetRangeCurrent
CORE_INVESTMENT 70.0% 85.0% 40%-90% 32.1%
ALPHA_SYSTEM 20.0% 0.0% 0%-40% 0.0%
CONVEX_BET 5.0% 5.0% 0%-8% 0.0%
CASH_RESERVE 5.0% 10.0% 3%-30% 67.9%

This allocation is not static. It is a reference target, not today's deployable target unless readiness gates pass.

Dynamic Sleeve Registry

SleeveRoleStatusTypeRangeAllowed / Disallowed
No sleeve registry yet.

Macro / Market Regime Allocation Context

Regime: unknown

Confidence: 0.25

Macro/regime context is unknown or not yet evaluated.

Allocation Change Proposals

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.25 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.25 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.25 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.25 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Review defensive sleeve activation proposed

Risk-off regime may justify studying DEFENSIVE_COLLATERAL.

Type: sleeve_activate · confidence 0.45 · review 30 days

Defensive optional sleeves can preserve compounding ability during stress.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: defensive assets may lag recovery, implementation evidence may be weak

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.65 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.25 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.25 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Review defensive sleeve activation proposed

Risk-off regime may justify studying DEFENSIVE_COLLATERAL.

Type: sleeve_activate · confidence 0.45 · review 30 days

Defensive optional sleeves can preserve compounding ability during stress.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: defensive assets may lag recovery, implementation evidence may be weak

Review adaptive target allocation proposed

Active target differs from the base prior based on evidence and constraints.

Type: allocation_shift · confidence 0.65 · review 14 days

70/20/5/5 remains the starting prior, not a permanent target; active target adapts to regime, readiness, and hard constraints.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

What could go wrong: regime classification may be wrong, local evidence may be incomplete

Strategic Ambition

10x over 10 years strategic ambition · calibration target, not an execution mandate

Strategic ambition required CAGR: 25.9%

Progress ratio: 0.00

Target today: 0 SEK

Risk / Exposure

Certificate %: 0.0%

Leverage-weighted proxy: 32.1%

Allocation Policy

Optimization goal: Maximize long-term geometric CAGR while avoiding ruin.

Current/default profile: survival_adjusted_growth

Recommended profile: stabilization

Profile status: demotion_recommended

Current policy profile is survival_adjusted_growth: 70% Core, 20% Alpha, 5% Convex, 5% Cash. Deployable alpha is currently 0% based on pod readiness. The unused 20% alpha reserve should remain in core/cash. Do not force alpha trades or expand convex exposure.

Core

70%

Alpha

20%

Convex

5%

Cash

5%

Target vs Deployable Allocation

Sleeve Policy target Current allocation Deployable allocation Effective temporary target Status
CORE_INVESTMENT 70.0% 32.1% 70.0% 85.0% policy guided
ALPHA_SYSTEM 20.0% 0.0% 0.0% 0.0% unused reserve
CONVEX_BET 5.0% 0.0% 5.0% 5.0% policy guided
CASH_RESERVE 5.0% 67.9% 5.0% 10.0% policy guided

Unused Alpha Reserve

20.0% unused alpha reserve.

Unused alpha capacity remains in Core/Cash. It is not transferred to Convex Bets.

Do not force alpha trades. Do not add convex leverage to replace alpha.

Strategic Ambition Compounding Context

10x over 10 years strategic ambition / calibration target required CAGR without contributions: 25.89%

Contribution-adjusted scenario is incomplete until starting capital and contribution assumptions are configured.

DrawdownGain Needed To Recover
-10%+11%
-20%+25%
-30%+43%
-50%+100%
-75%+300%
-90%+900%

-50% requires +100% to recover; -75% requires +300%; -90% requires +900%.

Promotion / Demotion Gates

Current profile: survival_adjusted_growth

Recommended profile: stabilization

Promotion blockers: none

Demotion triggers: alpha_evidence_weak_or_stale

Current Allocation vs Target

Core

32.1%

Target 70.0%

Alpha

0.0%

Target 20.0%

Convex

0.0%

Target 5.0%

Cash

67.9%

Target 5.0%

Unknown

0.0%

Target 0.0%

Today's Recommendations

CURRENT_STRATEGY_STATE INFO

Current strategy is Defensive Rebalance. It is active because Alpha deployability is 0% because pod evidence is insufficient.. The system is prioritizing survival-adjusted compounding; no trade is placed.

Next step: Observe strategy behavior; no trade is placed.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

DO_NOT_TREAT_PRIOR_AS_PERMANENT INFO

70/20/5/5 is a base prior, not a permanent optimal allocation.

Next step: Review active allocation target and evidence before treating the prior as current truth.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

STRATEGY_DURATION INFO

Strategy has been in play for 4.5302 days since 2026-05-11T18:42:36.479920+00:00.

Next step: Use duration to judge whether the strategy is stable or newly changed.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

HOLD_UNUSED_ALPHA_IN_CORE_CASH INFO

Target alpha is 20%, but deployable alpha is 0%; unused alpha reserve stays in core/cash.

Next step: Do not force alpha trades. Keep unused alpha capacity in core/cash.

Risks: strategy_drift, forced_trade_risk

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

DO_NOT_FORCE_ALPHA WARN

Alpha is a capacity limit, not a forced deployment target.

Next step: A trade must earn the right to exist through signal and evidence.

Risks: overtrading, weak_evidence_scaling

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

DEMOTE_TO_STABILIZATION WARN

Allocation policy recommends stabilization due to active demotion triggers.

Next step: Review profile; config is not changed automatically.

Risks: strategy_drift

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

REVIEW_ALLOCATION_ADAPTATION INFO

Active target allocation differs from the base prior based on regime, readiness, and hard constraints.

Next step: Review proposal; no allocation change is auto-applied.

Risks: model_error, incomplete_local_context

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

MACRO_CONTEXT_INSUFFICIENT INFO

Macro/regime evidence is insufficient, so the governor stays close to the conservative prior.

Next step: Use local evidence only; do not let headlines override hard risk blocks.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

WAIT_FOR_REGIME_CLARITY INFO

Regime is unclear; avoid large allocation changes.

Next step: Wait for stronger local evidence before aggressive tilts.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

REVIEW_ALLOCATION_ADAPTATION INFO

Active target differs from the base prior based on evidence and constraints.

Next step: Human review only; no config or allocation is auto-applied.

Risks: hard_constraints, no_auto_apply

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

CORE_NOT_SACRED INFO

Core holdings may be held, added, trimmed, or sold when the active strategy and evidence justify it.

Next step: Prefer gradual changes unless risk blocks require faster reduction.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

GRADUAL_REALLOCATION_PLAN INFO

Gradual advisory plan for Defensive Rebalance: move from current allocation toward active target over 14 days.

Next step: Review advisory actions; no orders are created.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Evidence match: missing scope unknown

Limitations: No strategy id could be inferred for this advice item. No relevant backtest result found for this strategy-derived advice.

No trade placed: True

HOLD_CORE INFO

Hold core if it fits the active strategy and concentration remains acceptable.

Amazon.com

Next step: Human review only.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Evidence match: missing scope unknown

Limitations: No strategy id could be inferred for this advice item. No relevant backtest result found for this strategy-derived advice.

No trade placed: True

HOLD_CORE INFO

Hold core if it fits the active strategy and concentration remains acceptable.

Microsoft

Next step: Human review only.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Evidence match: missing scope unknown

Limitations: No strategy id could be inferred for this advice item. No relevant backtest result found for this strategy-derived advice.

No trade placed: True

HOLD_CORE INFO

Hold core if it fits the active strategy and concentration remains acceptable.

CoreWeave

Next step: Human review only.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Evidence match: missing scope unknown

Limitations: No strategy id could be inferred for this advice item. No relevant backtest result found for this strategy-derived advice.

No trade placed: True

ADD_CORE RECOMMENDED

Cash is above target while core compounding allocation is below target.

Next step: Consider an unlevered core ETF/core basket; no specific trade is placed.

Risks: instrument_selection_risk, market_timing_risk

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Evidence match: missing scope unknown

Limitations: No strategy id could be inferred for this advice item. No relevant backtest result found for this strategy-derived advice.

No trade placed: True

ADD_CORE_UNLEVERED INFO

Core is below the effective temporary target while alpha capacity is unused.

Next step: Prefer unlevered diversified core exposure; no order is created.

Risks: market_timing_risk

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Evidence match: missing scope unknown

Limitations: No strategy id could be inferred for this advice item. No relevant backtest result found for this strategy-derived advice.

No trade placed: True

RUN_BACKTEST WARN

cross_asset_trend needs data before readiness can be assessed.

cross_asset_trend

Next step: Import price data or run a fresh backtest before assessing readiness.

Risks: insufficient_evidence

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy cross_asset_trend · quality unknown

Evidence match: missing scope unknown

Limitations: no_backtest_runs_for_strategy missing_backtest_evidence

No trade placed: True

RUN_BACKTEST WARN

crypto_trend needs data before readiness can be assessed.

crypto_trend

Next step: Import price data or run a fresh backtest before assessing readiness.

Risks: insufficient_evidence

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy crypto_trend · quality unknown

Evidence match: missing scope unknown

Limitations: no_backtest_runs_for_strategy missing_backtest_evidence

No trade placed: True

RUN_BACKTEST WARN

event_reversal needs data before readiness can be assessed.

event_reversal

Next step: Import price data or run a fresh backtest before assessing readiness.

Risks: insufficient_evidence

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy event_reversal · quality unknown

Evidence match: missing scope unknown

Limitations: no_backtest_runs_for_strategy missing_backtest_evidence

No trade placed: True

RUN_BACKTEST WARN

index_mean_reversion needs data before readiness can be assessed.

index_mean_reversion

Next step: Import price data or run a fresh backtest before assessing readiness.

Risks: insufficient_evidence

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy index_mean_reversion · quality unknown

Evidence match: missing scope unknown

Limitations: no_backtest_runs_for_strategy missing_backtest_evidence

No trade placed: True

RUN_BACKTEST WARN

relative_strength needs data before readiness can be assessed.

relative_strength

Next step: Import price data or run a fresh backtest before assessing readiness.

Risks: insufficient_evidence

Evidence: insufficient_data Backtest: insufficient_data Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: run 2 · strategy relative_strength · period 2025-01-01 to 2026-04-28 · trades 0 · quality weak

Evidence match: strategy_only scope strategy

Limitations: zero_trade_backtest Backtest exists but has insufficient trade count.

No trade placed: True

HOLD INFO

No trade placed. Backtests and analyst reviews are evidence, not instructions.

Next step: Use recommendations as advisory context only.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is partial. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

No trade placed: True

No trade placed. Recommendations are evidence and strategy guidance.

Pod Readiness

Strategy Status Score Trades PF Expectancy R Max DD Data Quality Readiness note
cross_asset_trend needs_data 0.15 0 n/a n/a n/a n/a Import price data or run a fresh backtest before assessing readiness.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy cross_asset_trend · quality unknown

Evidence match: missing scope unknown

Limitations: Portfolio snapshot status is unknown; high-confidence advice is disabled. no_backtest_runs_for_strategy

crypto_trend needs_data 0.15 0 n/a n/a n/a n/a Import price data or run a fresh backtest before assessing readiness.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy crypto_trend · quality unknown

Evidence match: missing scope unknown

Limitations: Portfolio snapshot status is unknown; high-confidence advice is disabled. no_backtest_runs_for_strategy

event_reversal needs_data 0.15 0 n/a n/a n/a n/a Import price data or run a fresh backtest before assessing readiness.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy event_reversal · quality unknown

Evidence match: missing scope unknown

Limitations: Portfolio snapshot status is unknown; high-confidence advice is disabled. no_backtest_runs_for_strategy

index_mean_reversion needs_data 0.15 0 n/a n/a n/a n/a Import price data or run a fresh backtest before assessing readiness.

Evidence: missing Backtest: missing Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · strategy index_mean_reversion · quality unknown

Evidence match: missing scope unknown

Limitations: Portfolio snapshot status is unknown; high-confidence advice is disabled. no_backtest_runs_for_strategy

relative_strength needs_data 0.15 0 n/a n/a n/a n/a Import price data or run a fresh backtest before assessing readiness.

Evidence: insufficient_data Backtest: insufficient_data Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: run 2 · strategy relative_strength · period 2025-01-01 to 2026-04-28 · trades 0 · quality weak

Evidence match: diagnostic_only scope diagnostic

Limitations: Portfolio snapshot status is unknown; high-confidence advice is disabled. zero_trade_backtest

Core Candidate Ranking

Amazon.com

Amazon.com · stock · score 0.74

Current weight: 9.8%

Existing unlevered core holding below single-position cap.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

CoreWeave

CoreWeave · stock · score 0.73

Current weight: 11.2%

Existing unlevered core holding below single-position cap.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

Microsoft

Microsoft · stock · score 0.73

Current weight: 11.2%

Existing unlevered core holding below single-position cap.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: stale_snapshot · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Market intelligence is supporting evidence only and is unknown. Portfolio snapshot is stale; portfolio-specific advice is downgraded.

What Changed Since Previous Run

certificate exposure changed from 3.2% to 0.0%; new recommendations: ADD_CORE, ADD_CORE_UNLEVERED, CORE_NOT_SACRED, CURRENT_STRATEGY_STATE, DEMOTE_TO_STABILIZATION, DO_NOT_FORCE_ALPHA, DO_NOT_TREAT_PRIOR_AS_PERMANENT, GRADUAL_REALLOCATION_PLAN, HOLD, HOLD_CORE, HOLD_UNUSED_ALPHA_IN_CORE_CASH, MACRO_CONTEXT_INSUFFICIENT, REVIEW_ALLOCATION_ADAPTATION, RUN_BACKTEST, STRATEGY_DURATION, WAIT_FOR_REGIME_CLARITY.

New warnings: none

Resolved warnings: leverage_weighted_exposure_high

Added recommendations: ADD_CORE, ADD_CORE_UNLEVERED, CORE_NOT_SACRED, CURRENT_STRATEGY_STATE, DEMOTE_TO_STABILIZATION, DO_NOT_FORCE_ALPHA, DO_NOT_TREAT_PRIOR_AS_PERMANENT, GRADUAL_REALLOCATION_PLAN, HOLD, HOLD_CORE, HOLD_UNUSED_ALPHA_IN_CORE_CASH, MACRO_CONTEXT_INSUFFICIENT, REVIEW_ALLOCATION_ADAPTATION, RUN_BACKTEST, STRATEGY_DURATION, WAIT_FOR_REGIME_CLARITY

Removed recommendations: none

Strategy Pod Evidence

cross_asset_trend: paper_until_evidence (target 10.0%)

index_mean_reversion: paper_until_evidence (target 5.0%)

relative_strength: paper_until_evidence (target 7.0%)

event_reversal: paper_until_evidence (target 5.0%)

crypto_trend: research (target 3.0%)

What Not To Do

Do not expand convex exposure to compensate for weak alpha evidence.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Do not force alpha trades.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Unused alpha capacity remains in Core/Cash. It is not transferred to Convex Bets.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Do not treat 70/20/5/5 as permanently optimal.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Do not force alpha allocation when evidence is weak.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Do not expand convex exposure to compensate for weak alpha.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Do not let macro headlines override hard risk blocks.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Convex exposure falls below warning cap.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

No X10/X20 exposure remains.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

At least two alpha pods become micro_live_candidate or better.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Macro/regime context improves.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Portfolio drawdown and concentration risk normalize.

Evidence: policy_only Backtest: not_required Operator status: wait Snapshot: unknown · Advisory only — no trade placed

Backtest evidence: · quality unknown

Limitations: Advice is not linked to a current portfolio snapshot. Portfolio snapshot status is unknown; high-confidence advice is disabled.

Backtests and analyst reviews are evidence, not instructions.

No trade placed. Allocation changes are advisory proposals only.

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