Glossary
Source stack
M8.01Also called research source stack, document stack.
The set of documents assembled before analysis begins: several years of annual reports, the last eight quarterly results and transcripts, the shareholding patterns, credit rating rationales, sector regulator publications, and the filings of the closest competitors.
Assembling it first is what makes the analysis fast, because every question that arises has its answer already on the desk rather than requiring a search that breaks concentration.
The stack also defines what you did not read, which is the honest boundary of any piece of research.
Build it once per company, then maintain it.