Building investment knowledge and analytical frameworks — economic fundamentals, reading notes, and mental models for investors.
Frameworks tell you what to look at, but they cannot guarantee that what you see is real. Three cognitive biases (availability bias, confirmation bias, and herding) can distort the input, execution, and output of analytical frameworks.
What changes is statistical regularity; what remains constant is the logic of earnings-driven patterns. AI supply rigidity, misaligned capital structure, and policy framework shifts have together triggered a fundamental restructuring of the market.