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Ticker
Shares
Avg Cost
Price
Value
Total Gain
Daily Δ
Weight
Next Earnings
Layer
Tax Lots
Thesis
Macro ⓘ
Layer 1: L1 Structural BallastMacro Health 61
BRK-Bⓘ
100.00
$476.60
$510.37
$51,037
+7.09%
+0.66%
24.3%
—
L1
72
Investment Thesis — BRK-B
56/100evaluated 1h ago
●The company maintains extreme financial stability and liquidity to40.0%Not evaluated
cash_and_equivalents_to_total_assets=N/A[UNKNOWN]
●The company demonstrates consistent organic growth and operational30.0%Not evaluated
free_cash_flow_margin=N/A[UNKNOWN]
●The company continues its strategy of growth by acquisition,20.0%HEALTHY
revenue_growth_yoy=19.22[HEALTHY]
●Valuation remains within historical norms to prevent 'extreme10.0%Not evaluated
pe_ratio=N/A[UNKNOWN]
Macro Risk — BRK-B · 3 weeks of history
Rate Sensitivity2/10
Berkshire's massive fixed-income portfolio and insurance float benefit from higher yields, while its equity holdings are diversified enough to avoid the severe valuation compression seen in pure long-duration growth stocks.
Inflation Hedge6/10
The conglomerate's diverse operating businesses (railroads, utilities, energy, retail) possess significant pricing power to pass on costs, providing a moderate but effective hedge against sustained inflation.
Dollar Sensitivity4/10
While Berkshire has significant international revenue exposure that faces headwinds from a strong dollar, its vast domestic asset base and financial operations mitigate the overall negative impact compared to pure export-focused multinationals.
Geopolitical Risk3/10
Berkshire's heavy concentration in US-centric industries like rail, utilities, and domestic insurance insulates it from direct trade war tariffs or sanctions, though its global insurance and investment arms retain some indirect exposure.
Summary: BRK-B exhibits low rate sensitivity and moderate inflation hedging due to its diversified, pricing-power-heavy operating businesses, while remaining relatively insulated from geopolitical shocks through its domestic focus.
VTSAXⓘ
58.66
$144.85
$183.18
$10,746
+26.46%
+0.84%
5.1%
—
L1
Fund
42▼2
Macro Risk — VTSAX · 3 weeks of history
Rate Sensitivity6/10
As a total stock market index fund, VTSAX holds significant exposure to long-duration growth and tech stocks, which suffer from higher discount rates, though its broad diversification mitigates the impact compared to pure long-duration bond funds.
Inflation Hedge4/10
While the fund contains some commodity and energy names, its heavy weighting in consumer discretionary and technology sectors makes it vulnerable to margin compression and reduced consumer spending power during sustained high inflation.
Dollar Sensitivity5/10
VTSAX holds a substantial portion of multinational corporations with significant international revenue streams, meaning a strengthening dollar creates headwinds through currency translation effects and reduced competitiveness abroad.
Geopolitical Risk7/10▲1
The fund's large allocation to global supply chain-dependent technology and healthcare sectors exposes it to significant risks from trade wars, tariffs, and geopolitical disruptions affecting international operations.
Summary: VTSAX is a broad market index fund that faces moderate-to-high macro risks due to its growth-heavy composition and international revenue exposure, making it sensitive to rising rates, inflation, and geopolitical tensions.
VFIAXⓘ
13.72
$535.35
$708.02
$9,715
+32.25%
+0.86%
4.6%
—
L1
Fund
39▼14
Macro Risk — VFIAX · 3 weeks of history
Rate Sensitivity5/10▲2
As a broad S&P 500 index fund, it holds a mix of growth and value stocks, meaning higher rates hurt valuation multiples for growth components but benefit financials, resulting in a neutral-to-moderate sensitivity.
Inflation Hedge3/10▼1
While it contains some commodity and energy names, the majority of the S&P 500 consists of service and tech companies that suffer from margin compression when input costs rise above 3%.
Dollar Sensitivity6/10▲1
Approximately 40% of S&P 500 revenue is generated internationally, so a strengthening dollar significantly reduces the translated earnings of multinational corporations like Apple, Microsoft, and Johnson & Johnson.
Geopolitical Risk7/10▲1
The fund's heavy weighting in technology and consumer discretionary sectors exposes it to global supply chain disruptions, trade tariffs, and geopolitical tensions affecting international markets.
Summary: VFIAX is a diversified large-cap equity fund that faces moderate headwinds from rising rates and strong dollars, with significant exposure to global geopolitical risks inherent in its multinational holdings.
VTMGXⓘ
250.75
$19.94
$23.37
$5,860
+17.20%
+0.95%
2.8%
—
L1
Fund
47▲11
Macro Risk — VTMGX · 3 weeks of history
Rate Sensitivity9/10
As a long-duration bond fund, VTMGX is highly sensitive to rising yields, with a +50bps increase in the 10Y Treasury directly reducing its net asset value through duration risk.
Inflation Hedge2/10
The fund holds nominal fixed-income securities that offer poor protection against sustained inflation above 3%, as rising prices erode the real value of its coupon payments and principal.
Dollar Sensitivity3/10
Being a US-domiciled bond fund, it is largely insulated from currency fluctuations, though a stronger dollar may slightly dampen returns from any small allocation to foreign sovereign debt.
Geopolitical Risk2/10▼4
The portfolio's heavy concentration in US Treasuries and high-quality investment-grade corporates minimizes exposure to trade wars, tariffs, or specific geopolitical supply chain disruptions.
Summary: VTMGX is a high-duration, low-inflation-hedge fixed-income fund that benefits from stable rates but suffers significantly when yields rise or inflation persists.
VVIAXⓘ
41.32
$72.60
$87.39
$3,611
+20.37%
+0.77%
1.7%
—
L1
Fund
44▼14
Macro Risk — VVIAX · 3 weeks of history
Rate Sensitivity8/10▲3
As a Vanguard Total Bond Market Index Fund holding long-duration government and corporate bonds, a +50bps rise in yields would cause significant capital depreciation due to high duration risk.
Inflation Hedge2/10▼2
The fund holds nominal fixed-income securities which lose real purchasing power when inflation remains sticky above 3%, offering virtually no inflation protection compared to TIPS or commodities.
Dollar Sensitivity3/10
While the fund holds some foreign bonds, the majority are US-domiciled nominal bonds, meaning a strengthening dollar has a muted negative impact compared to pure international equity or commodity funds.
Geopolitical Risk4/10
The fund's heavy allocation to US Treasuries provides a safe-haven status that often benefits from geopolitical instability, though its corporate bond holdings carry moderate supply chain and trade war exposure.
Summary: VVIAX is a high-duration nominal bond fund that suffers sharply from rising rates and sticky inflation, while offering moderate stability against geopolitical shocks due to its sovereign debt allocation.
Layer 2: L2 Cash-Flow EnginesMacro Health 65
SCHDⓘ
927.00
$29.54
$34.12
$31,629
+15.51%
+0.38%
15.1%
—
L2
Fund
69
Macro Risk — SCHD · 3 weeks of history
Rate Sensitivity4/10▼2
As a dividend-focused equity ETF, SCHD faces moderate headwinds from rising yields due to the discounting of future cash flows, though its focus on financially stable companies mitigates the severe duration risk seen in pure growth or long-duration bond portfolios.
Inflation Hedge5/10
SCHD holds a mix of sectors including financials and industrials that offer some pricing power, but its heavy weighting in consumer staples and healthcare limits its ability to fully outperform during sustained high-inflation environments compared to pure commodity or energy plays.
Dollar Sensitivity3/10▼1
While SCHD holds multinational corporations that face translation headwinds from a strong dollar, its significant allocation to domestic-focused financials and select industrials reduces overall currency exposure compared to broad international or pure export-heavy indices.
Geopolitical Risk2/10
SCHD's strict fundamental screening criteria and heavy concentration in US-domiciled large-cap value companies significantly reduce exposure to complex global supply chains, trade wars, and geopolitical sanctions compared to broad market or emerging market funds.
Summary: SCHD exhibits moderate vulnerability to rising rates and inflation due to its equity nature, but benefits from lower geopolitical risk and domestic focus, making it a relatively stable value-oriented position in the current macro environment.
BPⓘ
135.00
$45.10
$46.10
$6,223
+2.22%
+0.04%
3.0%
—
L2
42▼8
Investment Thesis — BP
78/100evaluated 1h ago
●BP must maintain sufficient Free Cash Flow generation to support its40.0%HEALTHY
fcf_margin=11.25[HEALTHY]
●Operating margins must stabilize above the 2024 low of 7.2% to30.0%HEALTHY
operating_margin=13.07[HEALTHY]
●Net income must remain positive to avoid equity erosion, ensuring20.0%HEALTHY
net_income=3911000000.00[HEALTHY]
●Revenue must not contract significantly below 2024 levels ($189.2B),10.0%WATCH
revenue_yoy=48.21[WATCH]
Macro Risk — BP · 3 weeks of history
Rate Sensitivity6/10▲2
As a capital-intensive integrated oil major with significant debt loads for exploration and transition investments, BP is moderately hurt by higher borrowing costs, though its strong cash flows from high oil prices provide some offset.
Inflation Hedge8/10
BP benefits significantly from rising inflation as it can pass through higher commodity prices for oil and gas, which typically rise in tandem with inflationary pressures.
Dollar Sensitivity7/10▲1
A strengthening US dollar negatively impacts BP's reported earnings because its primary revenue driver, crude oil, is priced in USD, reducing the value of non-dollar revenues when converted back.
Geopolitical Risk9/10
BP faces extreme geopolitical risk due to its substantial operational exposure to Russia (via the former BP-Rosneft joint venture) and its global supply chain dependencies, making it highly vulnerable to sanctions and trade disruptions.
Summary: BP is a high-geopolitical-risk, inflation-hedging asset that suffers from dollar strength and moderate rate sensitivity due to its capital-intensive, debt-heavy business model.
TROWⓘ
4.50
$112.53
$106.29
$478
-5.55%
-1.17%
0.2%
—
L2
61
Investment Thesis — TROW
68/100evaluated 1h ago
●Revenue growth must remain positive to support dividend30.0%HEALTHY
revenue_growth_yoy=10.68[HEALTHY]
●Operating leverage must be maintained, evidenced by operating30.0%WARNING
operating_margin=29.55[WARNING]
●Free Cash Flow generation must remain robust to fund dividends and25.0%HEALTHY
fcf_margin=23.64[HEALTHY]
●Net income must continue its upward trajectory from 2022, ensuring15.0%HEALTHY
net_income_yoy=25.10[HEALTHY]
Macro Risk — TROW · 3 weeks of history
Rate Sensitivity3/10
As a diversified asset manager, TROW benefits from higher yields through increased net interest income on its substantial cash reserves, offsetting the negative impact of higher discount rates on equity valuations.
Inflation Hedge4/10
TROW has moderate pricing power to raise management fees, but its core business relies on equity market growth, which can be pressured by high inflation eroding consumer spending and corporate margins.
Dollar Sensitivity5/10
A strong dollar creates a headwind for TROW's international asset management operations by reducing the USD value of foreign earnings and making US-managed funds less competitive globally.
Geopolitical Risk3/10
TROW's risk is primarily financial rather than direct geopolitical exposure, though global market volatility triggered by trade tensions or sanctions can negatively impact asset flows and AUM.
Summary: TROW exhibits moderate resilience to rate hikes due to its cash-heavy balance sheet but faces mixed headwinds from inflation and a strong dollar affecting its global asset management business.
VLYⓘ
11.25
$14.23
$13.80
$155
-3.05%
-0.36%
0.1%
—
L2
75
Investment Thesis — VLY
80/100evaluated 1h ago
●Net income must remain robust and growing to ensure the company can40.0%HEALTHY
net_income_yoy=28.32[HEALTHY]
●Revenue must demonstrate consistent year-over-year growth to support30.0%HEALTHY
revenue_growth_yoy=13.28[HEALTHY]
●The balance sheet must show deleveraging or stable leverage ratios,30.0%HEALTHY
debt_to_equity=0.43[HEALTHY]
Macro Risk — VLY · 3 weeks of history
Rate Sensitivity3/10
As a regional bank, VLY benefits from higher net interest margins in a rising rate environment, though its exposure to commercial real estate creates some downside sensitivity.
Inflation Hedge4/10
Banks can pass on some costs via higher loan rates, but sticky inflation may increase credit losses and deposit competition, limiting its effectiveness as a pure inflation hedge.
Dollar Sensitivity1/10▼1
VLY operates almost exclusively in the US domestic market with minimal international revenue, making it largely immune to USD exchange rate fluctuations.
Geopolitical Risk2/10▲1
Its focus on local community banking in Virginia, North Carolina, and South Carolina insulates it from global trade wars, tariffs, and international supply chain disruptions.
Summary: VLY is a domestically focused regional bank that thrives in rising rate environments with low geopolitical and currency risk, though it faces moderate inflation-related credit pressures.
As a capital-intensive industrial with moderate duration debt, higher rates increase borrowing costs but do not critically impair its essential infrastructure revenue streams.
Inflation Hedge6/10▲2
GRMN benefits from strong pricing power in critical network infrastructure and can pass through material cost increases to telecom operators, acting as a partial inflation hedge.
Dollar Sensitivity7/10
With significant international revenue exposure, a strengthening US dollar reduces the translated value of its overseas earnings and makes its equipment less competitive globally.
Geopolitical Risk8/10▲4
GRMN faces high geopolitical risk due to its critical role in global 5G infrastructure, making it a primary target for US-China trade restrictions and national security bans.
Summary: GRMN is a high-geopolitical-risk, dollar-sensitive industrial with moderate inflation hedging capabilities, making it vulnerable to trade tensions despite its essential market position.
WMTⓘ
100.56
$118.26
$107.15
$10,775
-9.40%
+1.34%
5.1%
—
L3
67▼5
Investment Thesis — WMT
75/100evaluated 1h ago
●Walmart maintains its competitive moat through sustained revenue35.0%HEALTHY
revenue_growth_yoy=7.33[HEALTHY]
●Profitability and cash generation remain robust, ensuring the35.0%WATCH
free_cash_flow=-1946000000.00[WATCH]
●Operational leverage and pricing power are preserved as operating30.0%HEALTHY
operating_margin=4.22[HEALTHY]
Macro Risk — WMT · 3 weeks of history
Rate Sensitivity3/10
While WMT carries moderate debt, its stable cash flows and short-duration inventory model make it less vulnerable to rising rates than high-growth or highly leveraged peers.
Inflation Hedge7/10▲1
WMT possesses strong pricing power to pass on inflationary costs to consumers, protecting margins better than discretionary retailers, though volume sensitivity remains a constraint.
Dollar Sensitivity4/10▲2
As a predominantly domestic retailer, WMT is largely insulated from currency headwinds, though its international operations (e.g., Mexico, China) provide some minor exposure to a strong dollar.
Geopolitical Risk5/10▲1
WMT's heavy reliance on imported goods from Asia exposes it to potential tariff escalations and supply chain disruptions, despite its diversified sourcing strategy.
Summary: WMT offers a balanced profile with moderate inflation protection and manageable rate sensitivity, but faces distinct risks from global supply chain dependencies.
EWⓘ
100.00
$85.31
$84.37
$8,437
-1.10%
-2.77%
4.0%
—
L3
17▼41
Investment Thesis — EW
76/100evaluated 1h ago
●Sustained top-line expansion driven by organic growth and strategic40.0%HEALTHY
revenue_growth_yoy=13.63[HEALTHY]
●Operating leverage must be maintained or improved, ensuring that30.0%WATCH
operating_margin=29.84[WATCH]
●Free Cash Flow generation must remain robust relative to net income,30.0%HEALTHY
fcf_margin=33.60[HEALTHY]
Macro Risk — EW · 3 weeks of history
Rate Sensitivity8/10▲1
As a leveraged buyout firm, iShares MSCI Emerging Markets ETF's valuation is highly sensitive to rising yields because higher discount rates compress the present value of future cash flows from its underlying emerging market equities.
Inflation Hedge3/10▼1
While some commodity producers are included, the ETF's heavy weighting in financials and consumer discretionary sectors means it generally suffers from margin compression and reduced consumer purchasing power during sustained high inflation.
Dollar Sensitivity9/10▲6
Since the ETF holds non-USD denominated assets, a strengthening US dollar directly reduces the translated value of earnings and dividends from emerging market holdings, creating significant headwinds.
Geopolitical Risk9/10▲7
The fund's concentration in countries like China, India, and Brazil exposes it to high risks from trade wars, sanctions, political instability, and fragmented global supply chains.
Summary: EW faces a challenging macro environment due to high interest rate sensitivity, currency headwinds from a strong dollar, and significant geopolitical exposure inherent in emerging markets.
NFLXⓘ
100.00
$82.25
$77.40
$7,740
-5.90%
+1.83%
3.7%
—
L3
47
Investment Thesis — NFLX
80/100evaluated 1h ago
●Content Margin Quality ⚑60.0%HEALTHY
gross_profit=6522973000.00[HEALTHY]
Macro Risk — NFLX · 3 weeks of history
Rate Sensitivity7/10
As a long-duration growth asset, NFLX's valuation is highly sensitive to higher discount rates, which reduce the present value of its future cash flows.
Inflation Hedge4/10
While NFLX has strong pricing power, it faces margin pressure from rising content costs and wage inflation, making it a moderate rather than strong inflation hedge.
Dollar Sensitivity3/10
NFLX benefits from a strong dollar as its global subscription revenue translates into higher reported USD earnings, offsetting some international headwinds.
Geopolitical Risk6/10
NFLX faces moderate geopolitical risk due to content restrictions and censorship in key international markets like China and Russia, alongside potential trade barriers affecting content distribution.
Summary: NFLX is a high-rate-sensitivity growth stock with moderate geopolitical exposure but benefits from dollar strength, while its inflation hedging capability is limited by rising content costs.
STZⓘ
34.44
$150.68
$122.45
$4,218
-18.73%
-1.10%
2.0%
—
L3
83
Investment Thesis — STZ
62/100evaluated 1h ago
●Sustained top-line growth driven by premiumization and volume30.0%WARNING
revenue_yoy=-3.27[WARNING]
●Operational efficiency and pricing power are maintained, with30.0%HEALTHY
operating_margin=35.50[HEALTHY]
●Strong cash generation capability persists, with Free Cash Flow25.0%WATCH
free_cash_flow_annual=484600000.00[WATCH]
●Balance sheet health is preserved through deleveraging, with total15.0%WATCH
total_debt=10533800000.00[WATCH]
Macro Risk — STZ · 3 weeks of history
Rate Sensitivity3/10
As a consumer staples company, STZ has moderate rate sensitivity due to its capital-intensive distillation operations and potential debt refinancing needs, but it is far less vulnerable than long-duration growth stocks or highly leveraged REITs.
Inflation Hedge7/10
STZ possesses strong pricing power within the alcohol category, allowing it to pass higher input and logistics costs to consumers, making it a relatively effective hedge against sustained inflation above 3%.
Dollar Sensitivity2/10
Since the vast majority of Constellation Brands' revenue is generated domestically in the US, a strengthening dollar has minimal negative impact on its reported earnings compared to multinational exporters.
Geopolitical Risk1/10
STZ operates primarily within the US domestic market with a stable, non-sanctioned supply chain, making it largely immune to trade wars, tariffs, or geopolitical disruptions affecting global logistics.
Summary: STZ is a defensive, domestically focused consumer staples business that benefits from inflationary pricing power while remaining largely insulated from dollar strength and geopolitical risks.
FSPTXⓘ
72.55
$41.35
$55.24
$4,008
+33.59%
+0.93%
1.9%
—
L3
Fund
78▲6
Macro Risk — FSPTX · 3 weeks of history
Rate Sensitivity2/10▼1
As a short-term government fund, FSPTX holds highly liquid, short-duration Treasuries that are largely immune to the negative price impact of a +50bps yield rise.
Inflation Hedge3/10▲1
While short duration mitigates real yield erosion, the fund's nominal returns may still lag behind a sustained 3.54% inflation rate, offering only partial protection.
Dollar Sensitivity1/10
Since the fund invests exclusively in US government debt, it has no foreign currency exposure or multinational revenue streams to be hurt by a strengthening dollar.
Geopolitical Risk1/10
US Treasury securities are considered the global safe-haven asset, meaning geopolitical disruptions typically drive capital into this fund rather than harming it.
Summary: FSPTX acts as a defensive cash-equivalent vehicle that benefits from current high yields while remaining largely insulated from rate shocks, inflation erosion, and geopolitical volatility.
SNAⓘ
10.13
$350.02
$375.44
$3,802
+7.26%
+0.16%
1.8%
—
L3
47▲3
Investment Thesis — SNA
75/100evaluated 1h ago
●SNA must demonstrate sustained revenue expansion driven by40.0%HEALTHY
revenue_growth_yoy=4.19[HEALTHY]
●Operating leverage must be preserved, with operating margins35.0%WATCH
operating_margin=25.20[WATCH]
●Free Cash Flow generation must remain robust relative to sales,25.0%HEALTHY
fcf_margin=18.61[HEALTHY]
Macro Risk — SNA · 3 weeks of history
Rate Sensitivity3/10▼1
As a capital-intensive industrial manufacturer, Snapple's high debt load makes it moderately sensitive to rising rates, though its stable cash flows from essential automotive components provide some insulation compared to pure growth stocks.
Inflation Hedge4/10▲1
Snapple has moderate pricing power within the automotive supply chain to offset input cost inflation, but it lacks the raw commodity exposure or strong brand elasticity of a true inflation hedge.
Dollar Sensitivity7/10
With significant international revenue exposure, a strengthening US dollar directly reduces the translation value of its overseas earnings and makes its products less competitive in foreign markets.
Geopolitical Risk6/10▲1
Being embedded in global automotive supply chains exposes Snapple to trade tariffs, cross-border logistics disruptions, and potential sanctions affecting international manufacturing partners.
Summary: Snapple faces moderate headwinds from rising rates and a strong dollar, with its primary risks stemming from global supply chain dependencies rather than domestic regulatory or inflationary shocks.
ITWⓘ
12.07
$267.92
$268.16
$3,237
+0.09%
+1.12%
1.5%
—
L3
58
Investment Thesis — ITW
68/100evaluated 1h ago
●ITW must demonstrate sustained operating margin expansion,35.0%HEALTHY
operating_margin=26.67[HEALTHY]
●Free Cash Flow generation must remain robust relative to net income,30.0%WARNING
fcf_to_net_income_ratio=0.77[WARNING]
●Revenue growth must be positive or neutral, indicating that US25.0%HEALTHY
revenue_growth_yoy=6.12[HEALTHY]
●Gross margins must remain elevated, reflecting pricing power and mix10.0%HEALTHY
gross_margin=44.13[HEALTHY]
Macro Risk — ITW · 3 weeks of history
Rate Sensitivity4/10
As an industrial conglomerate with moderate leverage and stable cash flows, ITW is moderately sensitive to higher rates due to financing costs, but its diversified nature and pricing power mitigate the severe impact seen in highly leveraged or long-duration growth stocks.
Inflation Hedge7/10
ITW possesses strong pricing power across its industrial brands and operates in essential sectors, allowing it to pass through input cost increases effectively, making it a robust hedge against sustained inflation above 3%.
Dollar Sensitivity6/10
With approximately 40-50% of revenue generated internationally, a strengthening US dollar creates a headwind for ITW's reported earnings, though its global footprint provides some natural hedging compared to purely domestic firms.
Geopolitical Risk5/10
ITW's global supply chain and international revenue exposure create moderate geopolitical risk, particularly regarding trade tariffs and manufacturing shifts, but its focus on essential industrial components reduces the volatility associated with consumer discretionary or China-dependent tech.
Summary: ITW represents a balanced industrial position with strong inflation pass-through capabilities, offset by moderate currency and interest rate headwinds in the current macro environment.
SLYVⓘ
19.00
$88.50
$107.41
$2,041
+21.37%
+0.49%
1.0%
—
L3
Fund
58▼6
Macro Risk — SLYV · 3 weeks of history
Rate Sensitivity7/10
As a small-cap value ETF, SLYV holds companies with higher leverage and lower interest coverage ratios, making them significantly more vulnerable to rising borrowing costs associated with a +50bps yield increase.
Inflation Hedge6/10
Small-cap value firms often possess pricing power and operate in tangible sectors like industrials and financials, allowing them to pass on inflationary costs better than growth-oriented or service-heavy portfolios.
Dollar Sensitivity4/10▲1
While small-cap companies have less international revenue than large-caps, SLYV still holds multinational exporters whose earnings are negatively impacted by a strengthening US dollar.
Geopolitical Risk3/10▲1
SLYV is heavily weighted toward US domestic cyclicals and financials, reducing exposure to complex global supply chains or foreign regulatory sanctions compared to broad market or tech-heavy ETFs.
Summary: SLYV offers moderate inflation protection and low geopolitical risk, but remains highly sensitive to rising interest rates due to the inherent leverage and valuation characteristics of its small-cap value constituents.
Layer 4: L4 ConvexityMacro Health 41
IGVⓘ
41.00
$89.94
$101.52
$4,162
+12.88%
+0.32%
2.0%
—
L4
Fund
36▲5
Macro Risk — IGV · 3 weeks of history
Rate Sensitivity8/10
As a leveraged ETF tracking long-duration growth equities, IGV suffers disproportionately from rising yields which compress valuation multiples and increase the discount rate for future cash flows.
Inflation Hedge3/10
Software companies typically face margin compression from rising input costs and lack the pricing power or tangible asset backing to effectively hedge against sustained inflation above 3%.
Dollar Sensitivity6/10
Many underlying SaaS firms derive significant revenue from international markets, meaning a strong dollar creates translation headwinds and reduces reported earnings growth.
Geopolitical Risk5/10▼2
While less exposed than hardware manufacturers, the sector faces moderate risk from global trade tensions affecting cloud infrastructure supply chains and cross-border data regulations.
Summary: IGV is a high-volatility, high-duration growth instrument that faces significant headwinds from rising rates and inflation, with moderate sensitivity to dollar strength and geopolitical fragmentation.
BTCⓘ
56.00
$36.50
$34.15
$1,912
-6.44%
+0.23%
0.9%
—
L4
42▼11
Investment Thesis — BTC
50/100evaluated 1h ago
●Bitcoin maintains its viability as a speculative store of value and50.0%Not evaluated
Bitcoin acts as a long-duration, non-yielding asset, meaning higher real yields and tight financial conditions significantly increase the opportunity cost of holding it, thereby suppressing price appreciation.
Inflation Hedge7/10▼1
While marketed as digital gold, Bitcoin's correlation with risk assets often weakens its efficacy as a pure inflation hedge compared to commodities, though its fixed supply offers long-term protection against currency debasement.
Dollar Sensitivity9/10▲1
Bitcoin exhibits a strong inverse correlation with the US Dollar, as a strengthening dollar makes the asset more expensive for foreign buyers and typically correlates with tighter global liquidity conditions.
Geopolitical Risk4/10▲1
Bitcoin is largely immune to traditional trade wars and tariffs, but faces elevated regulatory and sanction risks in specific jurisdictions, particularly regarding mining operations and cross-border capital controls.
Summary: Bitcoin remains highly sensitive to interest rate hikes and dollar strength, offering moderate inflation protection but carrying significant regulatory geopolitical exposure.
DSGXⓘ
18.00
$70.07
$76.04
$1,369
+8.52%
+6.62%
0.7%
—
L4
58▲2
Investment Thesis — DSGX
80/100evaluated 1h ago
●Sustained top-line growth driven by organic expansion and M&A35.0%HEALTHY
revenue_growth_yoy=14.75[HEALTHY]
●Maintenance of high gross margins above 75%, indicating strong25.0%HEALTHY
gross_margin=77.56[HEALTHY]
●Continued expansion of operating leverage, with operating margin20.0%HEALTHY
operating_margin=32.85[HEALTHY]
●Strong free cash flow generation relative to net income, ensuring20.0%HEALTHY
fcf_to_net_income_ratio=1.50[HEALTHY]
Macro Risk — DSGX · 3 weeks of history
Rate Sensitivity7/10▲1
As a growth-oriented software company with negative free cash flow and high valuation multiples, DSGX is significantly hurt by rising rates which increase its cost of capital and compress its discounted future cash flows.
Inflation Hedge3/10
DSGX lacks strong pricing power to offset rising operational costs and wage inflation, making it vulnerable to margin compression rather than benefiting from sustained inflation above 3%.
Dollar Sensitivity2/10▼2
The vast majority of DSGX's revenue is generated domestically within the United States, making it largely immune to the headwinds associated with a strengthening US dollar.
Geopolitical Risk2/10
DSGX's business model relies on US-based healthcare providers and software implementation, resulting in minimal exposure to international trade wars, tariffs, or geopolitical supply chain disruptions.
Summary: DSGX faces headwinds from higher interest rates due to its growth profile but remains resilient to dollar strength and geopolitical risks due to its domestic-focused, software-based business model.
JOBYⓘ
100.00
$9.67
$6.39
$639
-33.92%
+1.27%
0.3%
—
L4
36
Investment Thesis — JOBY
54/100evaluated 1h ago
●Regulatory approval and commercial launch must drive accelerating40.0%HEALTHY
revenue_growth_yoy=257493.33[HEALTHY]
●Gross margins must stabilize above 45% to demonstrate unit economics30.0%VIOLATED
gross_margin=26.76[VIOLATED]
●Cash runway must remain sufficient to fund operations without30.0%WATCH
cash_and_equivalents=629861000.00[WATCH]
Macro Risk — JOBY · 3 weeks of history
Rate Sensitivity9/10
As an unprofitable, long-duration growth stock reliant on future cash flows, JOBY is severely discounted by higher interest rates, which increase its cost of capital and reduce the present value of its distant profitability timeline.
Inflation Hedge2/10▼1
JOBY faces significant margin pressure from rising costs for batteries, aviation-grade materials, and labor, while its ability to pass these costs to consumers in an emerging market is currently limited.
Dollar Sensitivity4/10
While JOBY's primary operations are domestic, a strong dollar complicates the global supply chain for its aircraft components and batteries, though its lack of significant overseas revenue mitigates direct translation risk.
Geopolitical Risk5/10▼1
JOBY's reliance on global supply chains for critical avionics and battery components exposes it to potential trade tensions or export controls, particularly regarding semiconductor and advanced manufacturing inputs.
Summary: JOBY exhibits high sensitivity to rising rates and inflation due to its pre-revenue status and capital-intensive business model, making it vulnerable in the current macro environment.
Layer 5: L5 Shock AbsorbersMacro Health 66
MCOⓘ
15.02
$461.55
$474.95
$7,135
+2.90%
+1.62%
3.4%
—
L5
78▲6
Investment Thesis — MCO
80/100evaluated 1h ago
●Core business demonstrates resilient, above-historical-average40.0%HEALTHY
revenue_growth_yoy=15.12[HEALTHY]
●Operational leverage is expanding, evidenced by operating margin30.0%HEALTHY
operating_margin=49.34[HEALTHY]
●Free Cash Flow generation remains robust and exceeds net income,30.0%HEALTHY
fcf_margin=31.49[HEALTHY]
Macro Risk — MCO · 3 weeks of history
Rate Sensitivity3/10
As a financial services company, MCO benefits from higher net interest margins on its float and credit card receivables, making it largely immune or positively correlated to rising 10Y yields.
Inflation Hedge6/10
MCO possesses strong pricing power to pass on transaction fees to merchants and consumers, allowing it to maintain margins despite sustained inflation above 3%.
Dollar Sensitivity2/10▼2
Since the vast majority of MCO's revenue is generated domestically in the US, a strengthening dollar has minimal negative impact on its core operations.
Geopolitical Risk2/10
MCO's business model is domestically focused with minimal exposure to international trade wars, sanctions, or complex global supply chain disruptions.
Summary: MCO is a resilient domestic financial infrastructure play that thrives in rising rate environments and maintains pricing power, while remaining largely insulated from currency and geopolitical headwinds.
UNPⓘ
25.06
$241.86
$284.40
$7,126
+17.59%
-0.48%
3.4%
—
L5
69
Investment Thesis — UNP
80/100evaluated 1h ago
●Core revenue must remain stable or grow, as the primary driver of40.0%HEALTHY
revenue_growth_yoy=11.54[HEALTHY]
●Operating leverage must be maintained, evidenced by operating35.0%HEALTHY
operating_margin=40.25[HEALTHY]
●Free cash flow generation must remain robust to support dividends25.0%HEALTHY
fcf_margin=32.09[HEALTHY]
Macro Risk — UNP · 3 weeks of history
Rate Sensitivity7/10▲1
As a capital-intensive infrastructure business with significant debt loads, Union Pacific faces higher borrowing costs and valuation compression from a +50bps rise in yields, though its regulated pricing power offers some mitigation.
Inflation Hedge6/10▼1
Union Pacific possesses strong pricing power to pass through inflationary labor and fuel costs to shippers, providing a moderate but effective hedge against sustained CPI above 3%.
Dollar Sensitivity2/10
The vast majority of Union Pacific's revenue is generated domestically within the US, making it largely immune to the negative impacts of a strengthening US dollar on foreign earnings.
Geopolitical Risk1/10▼2
Union Pacific operates primarily within North America with minimal reliance on complex global supply chains or foreign geopolitical exposure, insulating it from trade wars and international sanctions.
Summary: Union Pacific is a domestically focused, inflation-resilant infrastructure asset with high sensitivity to interest rates but negligible geopolitical or currency risks.
NOCⓘ
10.00
$543.55
$518.97
$5,190
-4.52%
+0.00%
2.5%
—
L5
61
Investment Thesis — NOC
62/100evaluated 1h ago
●Core US government defense revenue must sustain double-digit40.0%Not evaluated
us_gov_revenue_growth_yoy=N/A[UNKNOWN]
●Operating margins must remain above 9.5% to demonstrate pricing30.0%HEALTHY
operating_margin_pct=10.08[HEALTHY]
●Free Cash Flow must remain positive and exceed $2.0B annually to20.0%WATCH
annual_fcf_usd_b=0.98[WATCH]
●Non-US allied revenue must grow at a rate comparable to or exceeding10.0%Not evaluated
allied_revenue_growth_yoy=N/A[UNKNOWN]
Macro Risk — NOC · 3 weeks of history
Rate Sensitivity3/10
As a large-cap industrial with moderate leverage and stable cash flows, NOC is less sensitive to rate hikes than high-growth tech or long-duration bonds, though higher borrowing costs slightly pressure margins.
Inflation Hedge7/10
NOC benefits from cost-plus contract structures and pricing power that allow it to pass increased material and labor costs to the government, effectively hedging against sustained inflation.
Dollar Sensitivity2/10
Since the vast majority of NOC's revenue comes from US government contracts denominated in USD, a strengthening dollar has minimal negative impact on its core earnings.
Geopolitical Risk9/10
NOC is a primary beneficiary of global geopolitical tensions as its core business involves manufacturing critical defense systems like the B-21 bomber and missile defense, directly linking its growth to international conflict and trade friction.
Summary: NOC is a geopolitical alpha play with strong inflation pass-through capabilities, offering low sensitivity to interest rates and currency fluctuations while maximizing exposure to global security spending.
MITSFⓘ
100.00
$29.25
$32.80
$3,280
+12.14%
+0.61%
1.6%
—
L5
61
Investment Thesis — MITSF
50/100evaluated 1h ago
●The company must maintain positive Free Cash Flow to service its40.0%Not evaluated
fcf=N/A[UNKNOWN]
●Revenue must demonstrate consistent year-over-year growth to35.0%Not evaluated
revenue_growth_yoy=N/A[UNKNOWN]
●Gross margins must remain stable or expand to indicate pricing25.0%Not evaluated
gross_margin=N/A[UNKNOWN]
Macro Risk — MITSF · 3 weeks of history
Rate Sensitivity3/10
As a Japanese real estate investment trust, MITSF faces moderate rate sensitivity due to its reliance on debt financing, though its domestic focus and shorter duration assets mitigate the impact of rising US Treasury yields compared to US-listed REITs.
Inflation Hedge6/10
MITSF benefits from moderate inflation hedging capabilities because its Japanese commercial real estate portfolio allows for periodic rent escalations that can track with local inflation, preserving real yields.
Dollar Sensitivity8/10
A strengthening US dollar significantly hurts MITSF by reducing the USD-equivalent value of its Japanese Yen-denominated rental income and asset base, creating a persistent currency headwind for US-based investors.
Geopolitical Risk2/10
MITSF exhibits low geopolitical risk as it operates exclusively within Japan's stable regulatory environment, focusing on domestic commercial properties with minimal exposure to international trade disputes or sanctions.
Summary: MITSF is primarily a currency-play on the Yen rather than a direct macro-risk asset, offering domestic stability but suffering from USD appreciation.
ITOCFⓘ
200.00
$12.30
$14.02
$2,804
+13.98%
-3.11%
1.3%
—
L5
47
Investment Thesis — ITOCF
50/100evaluated 1h ago
●Company must maintain positive top-line momentum to justify non-US40.0%Not evaluated
revenue_growth_yoy=N/A[UNKNOWN]
●Operating efficiency must remain stable; significant margin30.0%Not evaluated
operating_margin=N/A[UNKNOWN]
●Strong free cash flow generation is critical to service increasing30.0%Not evaluated
free_cash_flow=N/A[UNKNOWN]
Macro Risk — ITOCF · 3 weeks of history
Rate Sensitivity9/10
As a 10-year Treasury ETF, ITOC is directly and inversely correlated to rising yields, suffering significant price depreciation when the 10Y yield rises by 50bps.
Inflation Hedge2/10
Fixed-rate nominal bonds lose real purchasing power during sustained inflation above 3%, making this position a poor hedge compared to TIPS or commodities.
Dollar Sensitivity3/10
While domestic, a stronger dollar typically correlates with higher real yields and tighter financial conditions, which pressures bond prices, though the effect is indirect compared to equities.
Geopolitical Risk2/10
US Treasuries are the global safe-haven asset, meaning geopolitical turmoil often drives capital into bonds, lowering yields and supporting prices rather than hurting them.
Summary: ITOCF is a high-duration nominal bond fund that faces severe headwinds from rising rates and inflation but benefits from safe-haven demand during geopolitical stress.
ST = short-term (<1yr) · LT = long-term (≥1yr) — derived from your tax lots. Click Lots to add or view purchase history.
Realized Gains & Tax Estimate
Total Realized G/L
—
Short-Term (<1yr)
—
Taxed as ordinary income
Long-Term (≥1yr)
—
Preferred cap gains rate
Estimated Federal Tax
Adjust rates for your bracket · saved in browser
%
%
Est. ST Tax
—
Est. LT Tax
—
Total Est. Tax
—
Federal only · does not include state taxes · consult a tax advisor
Generated Friday, September 11, 2026 at 10:15 PM ET
Macro Risk DashboardLast scored 2026-09-05 · 3 weeks of history
Portfolio Composite — Weekly Trend
Week-over-Week
Portfolio59▼2
L1 Structural Ballast61▼2
L2 Cash-Flow Engines65▲14
L3 Compounders52▼8
L4 Convexity41=
L5 Shock Absorbers66▲1
Weekly AI Summary
2026-09-05 · 27 holdings
The portfolio exhibits divergent health, with defensive cash and domestic financials stabilizing while growth and international exposures deteriorate due to persistent inflation and rate sensitivity. The overall macro risk profile remains elevated, driven by the sharp decline in emerging markets and speculative assets despite the resilience of ballast and income layers.
L1 Structural Ballast
Layer 1 scores declined significantly, primarily driven by VFIAX and VVIAX suffering from rising yields and sticky inflation, which eroded the value of broad equity and nominal bond holdings. Conversely, VTMGX improved as geopolitical risks eased, highlighting the benefit of high-quality US Treasuries in a complacent market. The net result is a weakened structural ballast, reflecting the current headwinds of a 4.78% 10Y yield and 3.54% CPI.
L2 Cash-Flow Engines
Layer 2 showed mixed results, with SCHD benefiting from lower rate sensitivity and VLY maintaining stability due to its domestic focus, while BP declined due to dollar strength and debt loads. The layer remains resilient overall, as domestic-focused income generators like VLY and TROW insulated the portfolio from global currency fluctuations. This layer effectively balances the inflationary pressures with pricing power and domestic revenue dominance.
L3 Compounders
Layer 3 experienced the most severe deterioration, led by a massive drop in EW due to extreme dollar sensitivity and geopolitical risks in emerging markets, alongside declines in SLYV and GRMN. While FSPTX and STZ provided stability through short duration and domestic consumer staples strength, the broader growth compounders struggled with rate sensitivity and supply chain dependencies. The composite score drop reflects the punishing environment for leveraged and internationally exposed growth assets.
L4 Convexity
Layer 4 saw mixed movements, with BTC and JOBY declining due to high rate sensitivity and inflation margin pressures, while IGV and DSGX showed slight improvements. Bitcoin's score dropped as it remains vulnerable to strong dollar dynamics and regulatory geopolitical risks, despite its inflation-hedge narrative. The layer remains highly volatile, with speculative assets struggling to find traction in a high-yield, low-fear environment.
L5 Shock Absorbers
Layer 5 remained largely stable, with MCO improving due to domestic financial infrastructure resilience and NOC maintaining its geopolitical alpha. UNP and ITOCF held steady, benefiting from domestic focus and safe-haven demand respectively, despite rate headwinds. This layer continues to provide essential shock absorption, with domestic-centric assets like MCO and NOC offering protection against the broader macro volatility.
Definitions for every metric and term used in the Investment Dashboard.
Terms marked NEW were added in the V2 covered call engine.
Options & Covered Calls — Core Mechanics
Covered Call (Buy-Write)
Selling a call option against shares you already own. You collect the premium immediately; in exchange you agree to sell your shares at the strike price if the buyer exercises. The strategy trades upside potential for income.
Strike Price (K)
The price at which your shares would be called away (sold) if the option is exercised. You choose a strike above the current price to stay out-of-the-money.
DTE — Days to Expiration
Calendar days until the option contract expires. The dashboard filters 21–60 DTE by default (enough time value without excessive event risk).
Bid / Ask / Mid
Bid — highest price a buyer will pay right now. Ask — lowest price a seller will accept. Mid — the mathematical midpoint. Wide bid-ask spreads indicate an illiquid market; the mid is rarely the actual fill price.
Exec Premium NEW
Exec = Bid + 0.25 × (Ask − Bid)
Estimated fill price — more realistic than mid for thinly traded options. Uses 25% of the spread above bid, reflecting typical retail execution. All profit, yield, and alpha calculations use Exec Premium, not Mid.
Premium % (Prem%)
Prem% = Exec Premium / Stock Price
The option income as a percentage of the stock's current value. Useful for comparing contracts across different price stocks.
Annualized Return (Ann%)
Ann% = Prem% × (365 / DTE)
Premium yield scaled to a full year. Used for comparison only — it assumes you can continuously roll at the same premium, which is unrealistic. The V2 engine ranks by Score, not Ann%, to avoid systematically favouring short-DTE contracts.
P/L if Called
(Strike + Exec Premium − Avg Cost) / Avg Cost
Your total return on the original investment if assigned. This is the number that matters for profit-floor filtering; premium counts toward the return. Floor policy: the engine uses your position-level average cost (not individual tax-lot basis). In a FIFO scenario where you hold lots at varying prices, a high-cost lot could be assigned at a loss even when the average-cost floor is satisfied — the dashboard does not model this per-lot edge case.
Assignment
The option buyer exercises their right to buy your shares at the strike price. For covered calls this typically happens at expiration when the stock closes above the strike, though early assignment is possible for deep ITM contracts near ex-dividend dates.
ITM / ATM / OTM
In The Money (ITM) — strike < current price; intrinsic value exists, assignment more likely. At The Money (ATM) — strike ≈ current price; maximum time value. Out of The Money (OTM) — strike > current price; all value is extrinsic; lower assignment risk, lower premium.
Intrinsic Value
max(Stock Price − Strike, 0)
The in-the-money amount of the option. An OTM call has zero intrinsic value — its entire price is time/extrinsic value.
Extrinsic Value (Time Value)
Option Price − Intrinsic Value
The portion of the option's price beyond intrinsic value. Decays toward zero at expiration. Relevant for early assignment risk: a holder generally won't exercise early if doing so forfeits meaningful extrinsic value.
Open Interest (OI)
Total number of outstanding contracts at this strike/expiry. Higher OI means tighter spreads and easier fills. The dashboard's liquidity score weights OI at 30 points out of 100.
Roll / Roll Up / Roll Out
Roll — buy back the current call and sell a new one simultaneously. Roll out — same strike, later expiry (collects more time value). Roll up — higher strike, same or later expiry (raises your cap, often a debit or smaller credit). A roll is evaluated as a new trade: it should only be done when the net position beats both holding and closing outright.
V2 Analysis Metrics
CC Alpha $ NEW
CC Alpha ≈ P − E[(ST − K)+] where E[(ST − K)+] = S·e(μ−q)T·N(d1,μ) − K·N(d2,μ) d1,μ = d2,μ + σ√T · σ = eff_IV
The expected gain from selling the call versus simply continuing to hold the stock. The expected upside surrender is computed under the real-world lognormal model with drift μ — not the risk-neutral rate. The premium P is collected today; the surrender term occurs at expiration.
Positive (green) — selling the call adds expected value vs holding. Negative (red) — holding outright has higher expected return; consider doing nothing.
Regret % NEW
Regret % = N(d2,μ(B)) where B = K + P
Probability that the stock closes above the regret threshold B = K + P at expiration — the price above which selling the call leaves you worse off than simply holding. This is lower than the expiry-ITM probability: the stock can finish above the strike and you still win, as long as it doesn't run past K + P.
Regret Threshold NEW
Regret Threshold = Strike + Exec Premium
The stock price above which the covered call underperforms a pure hold. Below this level, even if assigned, you captured more value than you gave up.
0–100 composite for within-ticker contract selection. All inputs ∈ [0,1] before weighting: A — CC Alpha (25%) · Y — Premium yield (15%) · V — IV richness (15%) · L — Liquidity (15%) · U — Upside room (15%) · R — 1 − PctRank(Regret%) (15%)
Limitation: ranks are within-ticker — every stock produces a contract near 90. Use Opp Score for cross-ticker comparison.
Cross-ticker comparable score — MSFT 72 and RIVN 72 represent similar opportunity levels. Uses absolute inputs with fixed reference scales so the score doesn't inflate just because a contract ranks well within a bad option chain.
Pair with Score: Score answers "which contract is best for this stock?"; Opp Score answers "which stock currently offers the best covered-call opportunity?"
Liquidity Score NEW
0–100 composite measuring how tradeable the contract is: 50 pts for bid-ask spread quality (<5% of mid = max points), 30 pts for open interest, 20 pts for daily volume.
Probability & Greeks
Delta (Δ)
Δ = e−qT · N(d1)
Rate of change of the option's price per $1 move in the stock. Sometimes cited as a rough assignment-probability estimate ("25-delta call"), but the true risk-neutral ITM probability is N(d2), which is somewhat lower. The table shows delta separately from eITM% and Regret % for a cleaner probability picture.
Estimated Expiry ITM % NEW
P(ST > K) = N(d2,μ) σ = eff_IV (contract IV if >1%, else HV forecast)
Estimated probability that the stock price closes above the strike at expiration under the real-world drift model. Not the same as assignment probability. Use as a directional estimate of how likely the strike is breached at expiry.
μ — Real-World Drift NEW
μ = 0.50·μ60d + 0.25·μ252d + 0.25·μmarket
Blended estimate of the stock's total-return drift. Weights recent 60-day momentum most heavily, blends in 1-year trend and a 10% long-run market assumption, then caps at ±50% to prevent extremes from dominating.
Gamma (Γ)
Γ = e−qT · φ(d1) / (S · σ · √T)
Rate of change of delta per $1 move in the stock. High gamma (near expiry and near the strike) means delta can shift dramatically on a small stock move. Used in the open position evaluator to flag accelerating assignment risk.
Volatility & Pricing
IV — Implied Volatility
The market's expectation of future volatility, backed out from current option prices using Black-Scholes. Higher IV = more expensive options = more premium income for sellers. Shown as ATM IV (at-the-money, nearest expiry).
HV — Historical (Realised) Volatility
Actual volatility the stock has exhibited, measured from daily price returns and annualised. The dashboard computes HV20 (20-day), HV60 (60-day), HV120 (120-day), and an EWMA variant (exponentially weighted, λ=0.94).
HV_forecast NEW
HV_fc = 0.40·HV20 + 0.35·HVEWMA + 0.25·HV60
Blended forward-looking volatility estimate used as the denominator in IV Richness. Weights recent realised vol more heavily than longer windows.
HV Percentile
Percentile of today's 21-day realised volatility within its own 1-year distribution. HV Pct 70% means today's vol is higher than 70% of the past year's readings — a better environment for selling premium.
IV Richness NEW
IV RichnessK,T = IVK,T / HV_forecast − 1
Whether the option is expensive or cheap relative to expected realised volatility. Each contract uses its own implied volatility, so a contract can appear rich due to strike-specific skew. Positive (green) — market IV exceeds expected realized vol; favorable for premium sellers. Negative (red) — options priced below expected realized vol; less favorable environment.
Expected Move NEW
Expected Move = S × IV × √T
Approximate one-standard-deviation move in the stock over the option's life, in dollar terms. A strike 1.0× the expected move above spot is roughly 1-sigma OTM. Used to normalise strike distance across stocks with very different volatilities.
A return calculation that eliminates the distorting effect of cash flows (new money added, positions sold). Each day's return is computed independently and then chain-multiplied. Makes the portfolio chart comparable to SPY regardless of when capital was deployed.
FIFO — First In, First Out
When selling shares, the oldest lot (lowest purchase date) is consumed first. IRS default cost basis method. Affects whether a sale is short-term or long-term and which cost basis applies to the gain/loss calculation.
Tax Lot
A specific purchase tranche: a date, share count, and cost/share. Each lot ages independently toward long-term status (held more than one year, per IRS rules). The Lots modal shows all lots per holding with their ST/LT badge, unrealized G/L, and days until LT conversion.
ST / LT — Short-Term / Long-Term Gains
Short-term — held ≤1 year; taxed as ordinary income (up to 37% federal). Long-term — held more than 1 year; taxed at lower capital gains rates (0%, 15%, or 20% depending on income).
Written equity call tax treatment (IRS Pub. 550): If the call expires or is closed, the gain/loss is generally short-term regardless of how long it was open. If the call is exercised, the premium is added to stock sale proceeds and follows the stock's holding period. Consult a tax advisor.
NIIT — Net Investment Income Tax
3.8% federal surtax on investment income for taxpayers above $200k (single) / $250k (MFJ) MAGI. NIIT applies to net option gains, not gross premium collected. Formula: 0.038 × min(NII, max(0, MAGI − Threshold)). Toggle in the Tax Harvesting modal.
Yield on Cost
Yield on Cost = Annual Dividend per Share / Avg Cost per Share
Dividend yield relative to what you paid, not the current market price. A position bought cheaply years ago may show a much higher yield on cost than the current quoted yield.
Ex-Dividend Date
The date you must own shares before to receive the next dividend. Buy on or after this date and you miss the payout. For covered calls, an ex-div date inside the option window creates early assignment risk: a call holder may exercise early to capture the dividend if the dividend exceeds the option's extrinsic value.
Buffett Screener
Gross Margin
(Revenue − Cost of Goods Sold) / Revenue
How much of each revenue dollar remains after direct production costs. Buffett threshold: ≥40%. High gross margins indicate pricing power and durable competitive advantage.
SG&A / Gross Profit
Selling, General & Administrative expenses as a fraction of gross profit. Buffett threshold: ≤30%. Companies spending less to maintain revenue tend to have stronger moats.
Interest / Operating Income
Debt service burden relative to operating earnings. Buffett threshold: ≤15%. Low ratio = company can service debt comfortably even in a downturn.
CapEx / Net Income
Capital expenditure intensity. Buffett threshold: ≤25% (screener uses ≤50% for a wider net). Capital-light businesses generate free cash flow without heavy reinvestment, enabling buybacks and dividends.
EV / EBITDA
Enterprise Value divided by Earnings Before Interest, Taxes, Depreciation and Amortisation. Capital-structure neutral valuation multiple. Used in the Buffett Deep-Dive and Recommended Purchases valuation scoring.
P / FCF
Price divided by Free Cash Flow per share. FCF = operating cash flow minus capital expenditures — the actual cash the business generates after maintaining its asset base. Often more reliable than P/E for capital-intensive industries.
Portfolio Decision Queue
Decision Journal
🧠 Investor Model▸ expand
Your inferred investment preferences — based on decisions you have made. Confirm, correct, or suppress each one.
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Relative ranking across active candidates — click any column to sort.
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