Canonical thesis registry

One JSON file per durable investment thesis. Markdown reports may explain a thesis, but these versioned JSON documents are the machine-readable authority for assumptions, red lines, valuation anchors, evidence, state, and the next review trigger.

Validate a document:

python3 scripts/data/thesis_registry.py validate memory/theses/<thesis-id>.json

Compare two versions:

python3 scripts/data/thesis_registry.py drift old.json new.json

Missing baselines stay unknown. A changed dimension requires a newly observed evidence ID; price-only evidence may change valuation but cannot change business, moat, or management state.

Red lines are symmetric: triggering one and leaving triggered both require new evidence observed after the baseline’s checked_at, and a triggered red line may not simply be deleted from the next version. drift reports newly_triggered_red_lines and resolved_red_lines so a reversal is visible instead of dissolving into unchanged.