Keep, deepen, or remove: writing classifications clients can use

A screening note that ends every paragraph with “monitor closely” has not done its job. Clients need language they can carry into a rebalance meeting.

Three labels, defined

Keep — passes the agreed frame; thesis intact; monitoring cost justified.
Deepen — passes the frame but needs more work before a size decision (for example, awaiting a filing or clarifying a segment).
Remove — fails the frame or the thesis has expired; continued attention is not earned.

Borderline cases exist. They belong in the discussion call, not hidden under softer vocabulary.

Cite what you read

A classification without a filing reference or peer anchor invites endless re-litigation. Short citations keep the argument inspectable.

Leave trading to the client

Our notes stop at classification and rationale. Position sizing, brokers, and timing remain with the investor or their adviser. That boundary keeps the work honest.