Hello Sia,

Thank you for your thoughtful comments. Yes, all of the factors you identify are a part of solving the investment problem. Inescapably: there is no such thing as a future fact. Facts by definition are things that have already occurred. Yet investing is about the future. Investment results unfold in the future. Some people are better at seeing pictures in the mosaic tiles (and at many mental scales) than others. One of the best ways I know how to get better is described in the post above.

It would be interesting to see a record of your investment notes going forward. I am certain that the considerations you describe above would be contained within.

Nice work!

Jason