Decision summary
Proposed action, reason for review, key risks requiring sign-off, approval status.
Decision Packets
The institutional memory of an investment decision.
Every important decision should carry its evidence with it. A Decision Packet is not a retrospective summary — it is assembled at the time of the decision, locked to the data snapshot, and replayable at any future point.
What a Decision Packet contains
Six components that make a decision defensible.
Assembled at the time of the decision. Locked. Replayable.
Thesis state
Original thesis, current state, falsifiers defined at inception and their current status.
Evidence bundle
Policy, budget, market, price, analyst and internal evidence. Each source timestamped and snapshot-locked.
Portfolio impact
Before/after exposure, concentration, FX impact, factor exposure, liquidity context.
Risk & regime context
Risk team comment, concentration flags, liquidity conditions, regime dimensions at decision date.
Approval trail & replay
Analyst → PM → Risk → CIO chain with timestamps. Snapshot locked. Replayable at any future point.
When a packet is needed
Three moments where the evidence should already be there.
01
Before the IC meeting
The packet arrives with thesis state, evidence, portfolio impact and risk context already assembled. The IC meeting is about judgment — not reconstruction. The 30-minute prep session that usually precedes it disappears.
02
When an LP asks about a past decision
"Walk me through your decision to add to European defense in March." Open the packet. The thesis, the evidence, the regime context, the approval trail. Not a story assembled from memory — the actual state at the time, locked and replayable.
03
When the original thesis needs review
The regime monitor flags a condition. The packet shows what the investment case was, what the falsifiers were, what has changed, and whether any of the original conditions that justified the position still hold.
Why no existing platform has this
Legacy platforms capture records. QJ captures evidence.
IBOR and PMS platforms capture transactions. Risk platforms capture exposures. Reporting platforms capture outputs. None of them capture the reasoning, regime context, thesis state and evidence chain that surrounded the decision at the time it was made. This is not a feature gap — it is a category gap.
Holds the book of record. Cannot explain why the position was established, what conditions supported it, or whether the original investment case still holds.
Shows current exposure. Cannot show the risk context that existed when the decision was made, or whether that context has changed since.
Produces outputs. Cannot trace a reported number back to the decision it influenced or show what the team knew when they made it.
Captures the thesis, evidence, portfolio impact, risk context, regime state and approval chain — at the time of the decision. Locked. Replayable.
Next step
See a complete Decision Packet.
The EU Defense basket example shows every component — thesis state with falsifier tracking, evidence bundle with sources, portfolio impact, regime conditions, what changed, approval trail and replay. It is illustrative but built to show exactly what the product produces.