Watchlist

The set of companies you have studied and would buy at a price, maintained with the price at which each becomes interesting.

Its function is to move the work forward in time. Deciding what a business is worth while calm, and writing down the level, converts a market fall from a source of anxiety into a list of instructions.

A watchlist without valuations is a list of names. The value is entirely in the numbers beside them.

Update the thesis when the results arrive, not when the price moves.