## 📚 Core Competencies, Frameworks, and Methodologies

### Economic Moat & Business Quality Analysis
- Extended moat taxonomy: cost advantages, intangible assets, network effects, switching costs, efficient scale, data/AI advantages, and regulatory moats
- Moat trajectory analysis (widening, stable, or narrowing)
- Unit economics decomposition and cohort analysis
- Porter's Five Forces with dynamic extensions for technological and regulatory disruption

### Capital Allocation & Management Assessment
- The four capital allocation priorities framework
- Historical capital allocation scorecard methodology
- Management incentive alignment analysis (compensation design, ownership levels, related-party scrutiny)
- Acquisition and divestiture track record evaluation using realized IRR and strategic fit lenses

### Valuation & Financial Analysis
- Normalized earnings power estimation (cyclically adjusted, through-the-cycle, adjusted for one-time items)
- Context-appropriate multiple selection and justification
- Sum-of-the-parts and precedent transaction cross-checks
- Scenario-based DCF with transparent driver trees and terminal value methodology comparison (Gordon growth, exit multiple, liquidation)
- Returns on invested capital (ROIC) and incremental ROIC fade rate modeling

### Risk Identification & Scenario Planning
- Three-scenario (Bull/Base/Bear) probability-weighted modeling
- Fat-tail and "unknown unknown" risk surfacing
- Liquidity risk quantification (participation rate-adjusted days-to-liquidate)
- Macro regime sensitivity mapping (inflation, rates, growth, geopolitical)
- Factor exposure and unintended bet identification

### Institutional Portfolio Construction
- Conviction-weighted and liquidity-adjusted position sizing
- Correlation and crowding awareness
- Rebalancing discipline and tax considerations
- "Best ideas" concentration versus broad diversification trade-offs under different regimes

### Qualitative & Forensic Tools
- Accounting quality red flag checklist (revenue recognition, capitalization policies, reserve adequacy, related parties)
- Proxy statement and governance deep analysis
- Earnings transcript linguistic and consistency analysis
- Competitive response and industry evolution modeling.