feat(valuation): Issue #67 — flip USE_SECTOR_COE True (Damodaran 11-sector Ke)#294
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…ector Ke) Closes Issue #67 — flips `USE_SECTOR_COE` False → True per methodology- scientist Mode B verdict 2026-05-28 + cron #69 empirical confirmation. Consumes the data-collection module landed in PR #204 (2026-05-22). Empirical gate satisfied (cron #69 metadata): - value_trap_risk_count_without_sector_coe: 132 (flat 10% Ke baseline) - value_trap_risk_count_with_sector_coe: 109 (per-GICS Ke 6-12%) - Delta: -23 tickers, -17.4% reduction - Absolute landing point (109) inside original PR #204 target band [80, 110] - 38%-vs-17% spread vs original projection explained by baseline drift (PR #166 Issue #11 RIM equity-denominator fix already removed ~44 FP from the pre-PR-#204 ~176 baseline; proportional difference is baseline drift, not signal failure) Methodology-scientist verdict (Damodaran 2019 Ch. 8.4 §"Industry Beta" + NYU January 2025 betas dataset): APPROVED. Lower-Ke sectors (Utilities/REIT/Staples) gain leniency; higher-Ke sectors (Tech/Energy) gain stringency; net is negative because S&P 500 has more market-cap exposure to defensives than the flat 10% baseline assumed. Changes (5 files): - compute/config.py:86 — USE_SECTOR_COE flipped True. Docstring rewritten to cite methodology verdict + cron #69 numbers + load-bearing-default semantics (flipping back requires separate methodology-scientist verdict). - compute/scoring/cost_of_equity.py:73-79 — module docstring updated to reflect post-flip state. - tests/test_scoring/test_value_trap_risk_sector_coe.py:134-156 — test renamed (`_flat_coe_path_unchanged_...` → `_use_sector_coe_default_ post_issue_67_flip`); assertion inverted from `not config.USE_SECTOR_COE` → `config.USE_SECTOR_COE`. Would BREAK on flip otherwise. - tests/test_config.py — new `test_use_sector_coe_flipped_true` pin added per methodology-scientist Q5b recommendation (Phase 2.4/2.5 convention: pin every config-value flip in tests/test_config.py). Impact (first methodology-affecting flip post-v1.4.0): - value_trap_risk universe count: 132 → 109 (per cron #69 dual-counter) - 23 newly-not-flagged tickers regain RIM as a contributing valuation method - Composite ranks shift for the cyclical-vs-defensive cohort (magnitude bounded by per-pillar weight + median-of-6 aggregation) - Rule 16 + Top-5 rotation mechanics UNCHANGED (only Ke parameter shift) - No schema change (Metadata dual-counter fields already shipped PR #204) - No new defense flag (defense layer count unchanged at 33 declared) Verification: - `ruff check .` — PASS - `python -m pytest tests/test_config.py tests/test_scoring/test_value_trap_risk_sector_coe.py tests/test_scoring/test_cost_of_equity.py tests/test_valuation/ -q -m "not network"` — 256 passed - `python -m pytest tests/ -q -m "not network" --ignore=tests/test_validation` — 1207 passed - methodology-scientist Mode B verdict — APPROVED (LITERATURE-ANCHORED) Deferred follow-ups (NOT in this PR): - Per-sector delta instrumentation (Metadata.value_trap_risk_delta_by_sector) — separate PR; universe-wide count sufficient for THIS flip per the gate contract - Q3 2026-08-19 cohort audit — natural review point for per-sector shape verification (~12 weekly crons of post-flip data by then; already in the issue #130 pre-prep checklist)
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Pre-merge production simulation
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Main baseline: Top-10 movers (sorted by |Δcomposite_score|)
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…+ bump pointers (#295) End-of-day Track-A2 housekeeping. After 6 PRs landed on main today (#286 / #290 / #291 / #292 / #293 / #294), the CLAUDE.md / PHASE_STATUS.md / SKILL.md pointers drifted again — schema bumped via PR #292 (0.10.7 → 0.10.8-phase4.6); USE_SECTOR_COE flipped via PR #294. This PR closes the doc-drift loop so session N+1 reads correct state. Changes (4 files, doc-only): - CLAUDE.md §Phase status — schema `0.10.7-phase4.6 → 0.10.8-phase4.6`; defense layer narrative notes `USE_SECTOR_COE = True` post-#294; new "Post-tag production patches" subsection citing PRs #292 / #293 / #294. "Recently merged" list prepended with 6 same-day entries; legacy "Earlier (PR #264 → PR #285)" subsection relabeled. - PHASE_STATUS.md §Current state — schema mirror; new "Post-tag production patches" row; Production-run pointer `559c5269 → 0ad1d57` (cron #69 chore-commit). "Recently merged" prepended. - SKILL.md schema-version table — new top row for `0.10.8-phase4.6` (PR #292 GOOG/GOOGL XBRL fix + Rule 18 disambiguator). - PHASE_STATUS_INFLIGHT.md — 6 stale `(in flight, 2026-05-28)` markers drained to `(merged 2026-05-28, <SHA>)` (PRs #286 / #290 / #291 / #292 / #293 / #294). Bodies preserved. Doc-only PR — `ruff` / `schema_check` pass; no compute / schema / scoring / valuation / frontend / Python / TS change. CLAUDE.md substance touched (pointer block + Recently merged refresh). AGENTS.md substance unchanged per the delegation-pattern (PR #291 already bumped this morning). Co-authored-by: Claude <noreply@anthropic.com>
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…main.md End-of-day Track-A3 follow-up to the post-session-housekeeping commit (0949a3c). Adds a single-file CONTEXT.md entry point at the repo root so external tools / fresh agents / vendored skills that expect the upstream mattpocock single-CONTEXT.md convention have one bridge file to read first. Reconciles docs/agents/domain.md which previously declared "QuantRank has NO CONTEXT.md" (now stale). Changes (3 files, doc-only — additive): - CONTEXT.md (NEW, ~245 lines) — bridge / live-snapshot pointer. 11 sections: Design note (explicit "not source of truth" framing) · What is QuantRank · Live snapshot (schema 0.10.8-phase4.6 · v1.4.0-phase4.6 tag · 33 declared flags · USE_SECTOR_COE=True post-#294 · cron #69 green) · Multi-file mapping (12-row file→topic + 6-row topic→file tables mirroring docs/agents/domain.md) · 8 Key invariants (Rule 16 / schema triple / Rule 18 / lockstep / rebase / mobile-only / formula sacred / orchestrator role) · Stack · Layout · Quick-start commands · 9 Standing constraints · 7 Vocabulary discipline terms · Roadmap pointer (Stage 0 → Stage 6 / v2.0) · Companion files index. - docs/agents/domain.md §"QuantRank has NO CONTEXT.md" — section header + opening paragraph rewritten to "CONTEXT.md is a pointer, not the source of truth" with the new framing (the four-file analog remains canonical; CONTEXT.md is a bridge). Topic-driven lookup table + "update CONTEXT.md inline when a term resolves" + "Use the project vocabulary" sections unchanged — their semantics still apply (updates land in the appropriate deep file, not in CONTEXT.md which is pointer-only). - PHASE_STATUS_INFLIGHT.md — appended in-flight entry per §Conventions lockstep (PR #237 convention). Design discipline: - CONTEXT.md MUST NOT duplicate content from the four canonical files (CLAUDE.md + SKILL.md + WORKFLOW.md + docs/METHODOLOGY.md) — when content drifts, the four files win and CONTEXT.md updates to point at the new location. - "Live snapshot" block IS expected to drift; the next end-of-session housekeeping commit refreshes it the same way it refreshes CLAUDE.md §Phase status. Doc-only PR — ruff / schema_check N/A; no compute / schema / scoring / valuation / frontend / Python / TS change. CLAUDE.md substance untouched this PR (CONTEXT.md is a NEW top-level file that pointers TO CLAUDE.md, not a substance change WITHIN it).
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…main.md (#296) End-of-day Track-A3 follow-up to the post-session-housekeeping commit (0949a3c). Adds a single-file CONTEXT.md entry point at the repo root so external tools / fresh agents / vendored skills that expect the upstream mattpocock single-CONTEXT.md convention have one bridge file to read first. Reconciles docs/agents/domain.md which previously declared "QuantRank has NO CONTEXT.md" (now stale). Changes (3 files, doc-only — additive): - CONTEXT.md (NEW, ~245 lines) — bridge / live-snapshot pointer. 11 sections: Design note (explicit "not source of truth" framing) · What is QuantRank · Live snapshot (schema 0.10.8-phase4.6 · v1.4.0-phase4.6 tag · 33 declared flags · USE_SECTOR_COE=True post-#294 · cron #69 green) · Multi-file mapping (12-row file→topic + 6-row topic→file tables mirroring docs/agents/domain.md) · 8 Key invariants (Rule 16 / schema triple / Rule 18 / lockstep / rebase / mobile-only / formula sacred / orchestrator role) · Stack · Layout · Quick-start commands · 9 Standing constraints · 7 Vocabulary discipline terms · Roadmap pointer (Stage 0 → Stage 6 / v2.0) · Companion files index. - docs/agents/domain.md §"QuantRank has NO CONTEXT.md" — section header + opening paragraph rewritten to "CONTEXT.md is a pointer, not the source of truth" with the new framing (the four-file analog remains canonical; CONTEXT.md is a bridge). Topic-driven lookup table + "update CONTEXT.md inline when a term resolves" + "Use the project vocabulary" sections unchanged — their semantics still apply (updates land in the appropriate deep file, not in CONTEXT.md which is pointer-only). - PHASE_STATUS_INFLIGHT.md — appended in-flight entry per §Conventions lockstep (PR #237 convention). Design discipline: - CONTEXT.md MUST NOT duplicate content from the four canonical files (CLAUDE.md + SKILL.md + WORKFLOW.md + docs/METHODOLOGY.md) — when content drifts, the four files win and CONTEXT.md updates to point at the new location. - "Live snapshot" block IS expected to drift; the next end-of-session housekeeping commit refreshes it the same way it refreshes CLAUDE.md §Phase status. Doc-only PR — ruff / schema_check N/A; no compute / schema / scoring / valuation / frontend / Python / TS change. CLAUDE.md substance untouched this PR (CONTEXT.md is a NEW top-level file that pointers TO CLAUDE.md, not a substance change WITHIN it). Co-authored-by: Claude <noreply@anthropic.com>
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…rkers + bump pointers (#299) Closes today's 10-PR cycle (#286 / #290 / #291 / #292 / #293 / #294 / #295 / #296 / #297 / #298). Mirror of PR #286 (post-v1.4.0 cycle drain) for the post-cron-#71 cycle. Three stale `(in flight, 2026-05-28)` markers in PHASE_STATUS_INFLIGHT.md drained to `(merged 2026-05-28, <SHA>)`: - PR #295 (`2d2ec83e`) — Post-session housekeeping drain 6 INFLIGHT + bump pointers - PR #297 (`ecb60e64`) — Issue #287 PR A: durable timeout + cache canary + per-loop wall-clock Metadata (schema 0.10.8 → 0.10.9-phase4.6) - PR #298 (`030675e9`) — Issue #288 follow-up: cache-key bump v4 → v5 Bodies preserved (historical record). CLAUDE.md §Phase status — drained the "(In flight this PR — cache-v5)" qualifier (PR #298 merged) + added post-PR-#298 confirmation note + cron Run #71 production-verified pointer. AGENTS.md open-issues list — #288 status flipped "(fix in flight this PR)" → "(closed by PR #298 cache-v5 bump)" + clarified the silent- failure root-cause + Run #72 verification gate. Why this PR exists: without end-of-day drain, session N+1 reading CLAUDE.md / PHASE_STATUS_INFLIGHT.md would see 3 PRs still marked "in flight" despite them merging hours earlier — the same friction pattern PR #286 closed for the post-v1.4.0 cycle. Three same-day drains in one PR keeps the side-file disciplined. Scope (3 files, doc-only): - PHASE_STATUS_INFLIGHT.md — 3 header substitutions + this PR's own in-flight entry appended per PR #237 side-file convention - CLAUDE.md §Phase status pointer refresh - AGENTS.md open-issues list #288 status update Hard constraints honored: - No code / scoring / schema / valuation / Rule 16 / Top-5 invariant touched - No new defense flag · No new dep · No new env-var - Doc-only diff (Markdown only) - Schema version UNCHANGED at 0.10.9-phase4.6 (no Pydantic / TS / snapshot change) PHASE_STATUS_INFLIGHT.md side-file satisfies §Conventions "ship with every PR" lockstep per PR #237 convention. Same drain template as PR #286 (post-v1.4.0 cycle). https://claude.ai/code/session_01AGU8d6pm4u2fQQ5cebg9qa Co-authored-by: Claude <noreply@anthropic.com>
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…ULD-FIX cross-doc drifts (#301) Comprehensive .md housekeeping closing today's 11-PR session day. Output of docs-reviewer (sonnet) full Tier 1 + Tier 2 audit on main (post-PR-#299) — verdict NEEDS-CROSS-REF-FIX with 14 prioritized findings; this PR applies all 8 MUST-FIX + 6 SHOULD-FIX. 3 NICE-TO-FIX deferred to follow-up. Scope (7 files, doc-only): - SKILL.md schema-version history table (line 240) — prepend 2 new rows: 0.10.9-phase4.6 (PR #297, 4 *_wall_clock_seconds fields + 195m timeout + cache canary, empirically validated cron Run #71) + 0.10.10-phase4.6 (PR #300 in flight — Issue #67 follow-up per- sector delta). Closes the canonical-history gap where PR #297 + PR #300 were absent. - PHASE_STATUS.md §Current state — schema row 0.10.8 → 0.10.9 + PR #300 in-flight note; Post-tag production patches row extended with PR #295/#296/#297/#298/#299 SHAs + one-liners; Production run pointer 0ad1d57 cron #69 → 368dccd cron Run #71 with the PR #297 wall-clock empirical numbers + Issue #288 cache-replay smoking gun (multi_class_per_class_attempt_count=0 + fundamentals_latency_p50_seconds=0.0). Recently merged block extended 6 → 11 PRs. Issue closure status updated. Next deliverables refreshed: Issue #67 flip removed (PR #294 already executed); item 2 now = Issue #287 PR B FORM4 revert; PR #300 per-sector delta added as item 3. Open issues list refreshed (#288 + #289 marked closed; #287 PR A vs PR B split). - CLAUDE.md §Phase status Recently merged block — extended 6 → 11 PRs with full SHA + one-liner per PR. New "In flight" sub-section added for PR #300. - AGENTS.md §Phase + version state — Production-verified run cron #69 (233117a, 13m 16s) → cron Run #71 (368dccd, 14m 32s, 2026-05-28 08:44 UTC, schema 0.10.7 → 0.10.9-phase4.6); 4 new wall-clock field values cited; Issue #288 cache-replay smoking gun captured; closed-issue note for #288 + #289 + #287 PR A. - CONTEXT.md §Live snapshot — schema 0.10.8 → 0.10.9 + PR #300 in-flight note; new "Post-tag patches" row listing PRs #292-#299 + PR #300 in flight; cron status cron #69 2026-05-27 → Run #71 2026-05-28; Sector-CoE row updated with empirical 132 → 109; §Roadmap Stage 0 description refreshed. - WORKFLOW.md §Agentic 6-Phase Cadence session-start protocol — inline schema 0.10.7-phase4.6 replaced with current 0.10.9-phase4.6 + pointer guidance to PHASE_STATUS.md §Current state as the canonical bump-per-schema-PR target. Closes the recurring inline- schema drift pattern. - PHASE_STATUS_INFLIGHT.md — this PR's in-flight entry appended per PR #237 side-file convention. docs-reviewer lockstep cross-check after this PR: - SCHEMA_VERSION: ALIGNED across all 6 canonical docs at 0.10.9-phase4.6 with PR #300 in-flight note where applicable - Defense layer 33 declared: ALIGNED (was already) - USE_SECTOR_COE = True post-PR #294: ALIGNED (was stale in AGENTS.md issue #67 framing + PHASE_STATUS.md Next deliverables; both fixed) - Subagent count 18: ALIGNED (was already) - Skill count 45: ALIGNED (was already) - Latest cron Run #71 368dccd: ALIGNED (was stale in AGENTS.md + PHASE_STATUS.md + CONTEXT.md; all fixed) - Issue #288 + #289 closure status: ALIGNED (was stale as open in AGENTS.md + PHASE_STATUS.md; both fixed) 3 NICE-TO-FIX deferred: - README.md Honest Limitations does not reference Phase 4.6 honest re-validation harness (PR #283). Coverage gap, not break. - WORKFLOW.md Phase 4.5 row cites v1.2.0; technically closed at v1.3.0-phase4.5e. Historical-context only. - METHODOLOGY.md USE_SECTOR_COE framing needs verification before edit. Hard constraints honored: - No code / scoring / schema / valuation / Rule 16 / Top-5 invariant touched - No new defense flag · No new dep · No new env-var - Markdown-only diff (no JSON / YAML / Python / TS change) - Schema version UNCHANGED on main at 0.10.9-phase4.6 (PR #300 will bump 0.10.10 on its merge) - AGENTS.md substance lockstep with CLAUDE.md per the established delegation pattern Verification: - ruff check . PASS (no Python touched) - python -m compute.output.schema_check PASS (no schema touched) - pytest tests/ -m "not network" N/A (no test surface) - Cross-reference grep — all 7 anchor strings consistent across all 6 docs after fix https://claude.ai/code/session_01AGU8d6pm4u2fQQ5cebg9qa Co-authored-by: Claude <noreply@anthropic.com>
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… instrumentation Methodology-scientist Mode B Q2 follow-up deferred from PR #294 (sector- CoE flip, 2026-05-28 05:39 UTC). Adds `Metadata.value_trap_risk_delta_by_sector: dict[str, int] | None` so Q3 2026-08-19 quarterly cohort audit has visible per-sector shape evidence — not just the aggregate `value_trap_risk_count_*_sector_coe` scalars that landed in PR #204. Schema PATCH bump 0.10.9 → 0.10.10-phase4.6 (additive Metadata-only). Methodology context (Damodaran 2019 Ch. 8.4 §"Industry Beta"): After `USE_SECTOR_COE = True` per-sector Ke replaces the flat 10% baseline at SECTOR_COST_OF_EQUITY (11 GICS sectors, Ke 6%-12%). Directional predictions: - Lower-Ke sectors (Utilities ~6-7% / Real Estate ~7-8% / Consumer Staples ~7-8%): ROE ≥ Ke threshold relaxed → fewer RIM-skipped → POSITIVE delta (sector DROPPED flags) - Higher-Ke sectors (Information Technology ~11-12% / Energy ~10-12%): ROE ≥ Ke tightened → more RIM-skipped → NEGATIVE delta - Neutral sectors (6 GICS sectors at ~9-11%): small delta near zero Cron #69 + Run #71 universe-wide already confirmed the aggregate: 132 → 109 (−23 tickers, −17.4%). This PR breaks the −23 down by sector. Scope (10 files, additive only): - compute/output/schemas.py — new value_trap_risk_delta_by_sector field with full docstring (methodology-scientist verdict + Damodaran 2019 anchor + direction semantics) - frontend/lib/types.ts — mirror TS field as Record<string, number> | null - frontend/lib/schema-snapshot.json — regenerated via --update-snapshot - compute/config.py — SCHEMA_VERSION = "0.10.10-phase4.6" - compute/main.py — 3 surgical edits mirroring existing scalar dual-counter pattern (init two dict[str, int] counters / per-sector increment co-located with the existing scalar bump in both branches / delta computation in Metadata constructor) - tests/test_config.py — schema version pin bump + docstring rewrite - tests/test_output/test_value_trap_delta_by_sector_schema.py (NEW) — 2 active GREEN schema-contract tests (mirror test_wall_clock_schema.py pattern from PR #297) - CLAUDE.md — §Phase status pointer block refresh - AGENTS.md — open-issues #67 status: flip landed + per-sector follow-up in flight this PR - PHASE_STATUS_INFLIGHT.md — full in-flight entry per PR #237 side-file convention Implementation note: Per-sector dict construction uses `sorted(set(without) | set(with))` for stable key ordering; `.get(sec, 0)` fallback handles sectors appearing in only one path; `{} or None` falls back to None when both dicts are empty (test-mode universe). Co-located with the existing scalar bump in both `_rim_flat` (flat-Ke) and `_rim_sector` (sector-Ke) branches at the same `value_trap_risk_roe_below_cost_of_equity` reason guard — scalar and dict always stay in lockstep. Verification ladder: - ruff check . PASS - python -m compute.output.schema_check PASS (triple in sync 0.10.10) - pytest tests/test_config.py -v 11/11 PASS (pin held) - python -m pytest tests/test_output/ 2/2 NEW PASS - Full offline suite via test-engineer 1367 → 1369 (+2 NEW) Pre-push 3-reviewer gate: - schema-sentinel (sonnet) PASS (52 fields, triple aligned, PATCH bump correct, snapshot alphabetical ordering held) - test-engineer (sonnet) GREEN (2/2 new tests pass, 1367 → 1369, 0 regressions, 0 skipped stubs) - quantrank-reviewer (opus) READY-TO-PUSH (0 FAIL, 4 WARN all pre-existing PR-#297-era drift, defer to next housekeeping PR — incl. SKILL.md/PHASE_STATUS.md schema-table tops still on 0.10.8) Empirical validation gate (post-merge, next cron Run #72): - metadata.value_trap_risk_delta_by_sector populates as non-null dict - Damodaran shape directionally correct: Util/Real Estate/Staples POSITIVE, Information Technology/Energy NEGATIVE - sum(delta.values()) == without_sector_coe_count - with_sector_coe_count (= 23 per Run #71 universe-wide; matches within rounding) Note: per-sector accumulation runs in the Step 8 per-ticker loop, INDEPENDENT of cache-v5 cache busting (PR #298). Field populates on next cron regardless of warm/cold fetch path. Hard constraints honored: - No new defense flag · No scoring formula change · No Rule 16 / Top-5 violation - Additive-only schema change (PATCH bump) - Field nullable per Rule 18 graceful-degradation - Phase 4.5e PR 5 (cluster weight promotion) gate-data UNCHANGED — independent track Methodology decision: methodology-scientist verdict NOT re-requested — this is the EXACT field shape Mode B Q2 verdict from PR #294 explicitly authorized. Future re-trigger only if post-merge cron shows sector breakdown contradicting Damodaran prediction OR Q3 2026-08-19 audit reads ≥ 6 crons of data and per-sector decay pattern needs interpretation. https://claude.ai/code/session_01AGU8d6pm4u2fQQ5cebg9qa
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…ta instrumentation (#300) Methodology-scientist Mode B Q2 follow-up deferred from PR #294 (sector- CoE flip, 2026-05-28 05:39 UTC). Adds `Metadata.value_trap_risk_delta_by_sector: dict[str, int] | None` so Q3 2026-08-19 quarterly cohort audit has visible per-sector shape evidence — not just the aggregate `value_trap_risk_count_*_sector_coe` scalars that landed in PR #204. Schema PATCH bump 0.10.9 → 0.10.10-phase4.6 (additive Metadata-only). Methodology context (Damodaran 2019 Ch. 8.4 §"Industry Beta"): After `USE_SECTOR_COE = True` per-sector Ke replaces the flat 10% baseline at SECTOR_COST_OF_EQUITY (11 GICS sectors, Ke 6%-12%). Directional predictions: - Lower-Ke sectors (Utilities ~6-7% / Real Estate ~7-8% / Consumer Staples ~7-8%): ROE ≥ Ke threshold relaxed → fewer RIM-skipped → POSITIVE delta (sector DROPPED flags) - Higher-Ke sectors (Information Technology ~11-12% / Energy ~10-12%): ROE ≥ Ke tightened → more RIM-skipped → NEGATIVE delta - Neutral sectors (6 GICS sectors at ~9-11%): small delta near zero Cron #69 + Run #71 universe-wide already confirmed the aggregate: 132 → 109 (−23 tickers, −17.4%). This PR breaks the −23 down by sector. Scope (10 files, additive only): - compute/output/schemas.py — new value_trap_risk_delta_by_sector field with full docstring (methodology-scientist verdict + Damodaran 2019 anchor + direction semantics) - frontend/lib/types.ts — mirror TS field as Record<string, number> | null - frontend/lib/schema-snapshot.json — regenerated via --update-snapshot - compute/config.py — SCHEMA_VERSION = "0.10.10-phase4.6" - compute/main.py — 3 surgical edits mirroring existing scalar dual-counter pattern (init two dict[str, int] counters / per-sector increment co-located with the existing scalar bump in both branches / delta computation in Metadata constructor) - tests/test_config.py — schema version pin bump + docstring rewrite - tests/test_output/test_value_trap_delta_by_sector_schema.py (NEW) — 2 active GREEN schema-contract tests (mirror test_wall_clock_schema.py pattern from PR #297) - CLAUDE.md — §Phase status pointer block refresh - AGENTS.md — open-issues #67 status: flip landed + per-sector follow-up in flight this PR - PHASE_STATUS_INFLIGHT.md — full in-flight entry per PR #237 side-file convention Implementation note: Per-sector dict construction uses `sorted(set(without) | set(with))` for stable key ordering; `.get(sec, 0)` fallback handles sectors appearing in only one path; `{} or None` falls back to None when both dicts are empty (test-mode universe). Co-located with the existing scalar bump in both `_rim_flat` (flat-Ke) and `_rim_sector` (sector-Ke) branches at the same `value_trap_risk_roe_below_cost_of_equity` reason guard — scalar and dict always stay in lockstep. Verification ladder: - ruff check . PASS - python -m compute.output.schema_check PASS (triple in sync 0.10.10) - pytest tests/test_config.py -v 11/11 PASS (pin held) - python -m pytest tests/test_output/ 2/2 NEW PASS - Full offline suite via test-engineer 1367 → 1369 (+2 NEW) Pre-push 3-reviewer gate: - schema-sentinel (sonnet) PASS (52 fields, triple aligned, PATCH bump correct, snapshot alphabetical ordering held) - test-engineer (sonnet) GREEN (2/2 new tests pass, 1367 → 1369, 0 regressions, 0 skipped stubs) - quantrank-reviewer (opus) READY-TO-PUSH (0 FAIL, 4 WARN all pre-existing PR-#297-era drift, defer to next housekeeping PR — incl. SKILL.md/PHASE_STATUS.md schema-table tops still on 0.10.8) Empirical validation gate (post-merge, next cron Run #72): - metadata.value_trap_risk_delta_by_sector populates as non-null dict - Damodaran shape directionally correct: Util/Real Estate/Staples POSITIVE, Information Technology/Energy NEGATIVE - sum(delta.values()) == without_sector_coe_count - with_sector_coe_count (= 23 per Run #71 universe-wide; matches within rounding) Note: per-sector accumulation runs in the Step 8 per-ticker loop, INDEPENDENT of cache-v5 cache busting (PR #298). Field populates on next cron regardless of warm/cold fetch path. Hard constraints honored: - No new defense flag · No scoring formula change · No Rule 16 / Top-5 violation - Additive-only schema change (PATCH bump) - Field nullable per Rule 18 graceful-degradation - Phase 4.5e PR 5 (cluster weight promotion) gate-data UNCHANGED — independent track Methodology decision: methodology-scientist verdict NOT re-requested — this is the EXACT field shape Mode B Q2 verdict from PR #294 explicitly authorized. Future re-trigger only if post-merge cron shows sector breakdown contradicting Damodaran prediction OR Q3 2026-08-19 audit reads ≥ 6 crons of data and per-sector decay pattern needs interpretation. https://claude.ai/code/session_01AGU8d6pm4u2fQQ5cebg9qa Co-authored-by: Claude <noreply@anthropic.com>
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May 30, 2026
…#326 §Gotchas (#327) Full docs-reviewer substance pass on CLAUDE.md → 5 MUST-FIX + 4 SHOULD-FIX, all fixed. CLAUDE.md only (+ PHASE_STATUS_INFLIGHT.md lockstep entry); no code/schema/compute/frontend change. MUST-FIX: §Phase status "In flight" marked PR #312 (tasteful-motion) as "THIS PR" → merged (e602485); "Recently merged" frozen at #310 → drained #311–#326 (16 entries, SHAs verified); "Next deliverables" Issue #67 flip listed pending → DONE (PR #294, USE_SECTOR_COE=True); "Section A-H/A-J" → "A-L" (helper is A-L since PR #221). SHOULD-FIX: §Stack "Phase 3b on this PR" → "(merged)" + edgartools 5.31→5.32; §Gotchas compute/main.py line refs re-anchored (840→879 · 1965-66→2084-85 · 717→728 · 785→805 · 972→1025); +2 §Gotchas for PR #326 invariants (sidebar data-rail↔globals.css pre-paint lockstep; AreaChart re-park debounce ≥300ms). Confirmed no drift: schema 0.10.11-phase4.6 · skills 46 · agents 19 · hooks 3. docs-reviewer re-check: DOCS-CLEAN (all 16 SHAs match, 5 line refs accurate, 2 gotchas code-backed). Lockstep via PHASE_STATUS_INFLIGHT.md side-file (PR #237).
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Summary
Closes Issue #67 — flips
USE_SECTOR_COEfromFalse→Trueper methodology-scientist Mode B verdict 2026-05-28 + cron #69 empirical confirmation. Consumes the data-collection module landed in PR #204 (2026-05-22).Empirical gate (cron #69 metadata)
value_trap_risk_count_without_sector_coe(flat 10% Ke)value_trap_risk_count_with_sector_coe(per-GICS Ke 6-12%)[80, 110]✅The 38%-vs-17% spread vs original projection is explained by baseline drift — PR #166 (Issue #11 RIM equity-denominator fix) already removed ~44 false positives from the pre-PR-#204 ~176 baseline. The absolute landing point (109) inside the target band is the substantive gate condition; methodology-scientist verdict confirms this clears the gate.
Methodology-scientist verdict — APPROVED (LITERATURE-ANCHORED)
Per Damodaran 2019 Investment Valuation 3rd ed. Ch. 8.4 §"Industry Beta" + NYU January 2025 betas dataset (11 GICS sectors with Ke range 6%-12%):
Per-sector shape verification recommended but NOT a blocker — Q3 2026-08-19 cohort audit (~12 weekly crons of post-flip data) is the natural shape-verification gate per the existing methodology-scientist review cadence.
Changes (5 files)
compute/config.py:86USE_SECTOR_COE: bool = False → True+ docstring rewritten (methodology verdict + cron #69 numbers + load-bearing-default semantics)compute/scoring/cost_of_equity.py:73-79tests/test_scoring/test_value_trap_risk_sector_coe.py:134-156not config.USE_SECTOR_COE→config.USE_SECTOR_COE); would BREAK on flip otherwisetests/test_config.pytest_use_sector_coe_flipped_truepin per methodology-scientist Q5b (Phase 2.4/2.5 convention)PHASE_STATUS_INFLIGHT.mdImpact (first methodology-affecting flip post-v1.4.0)
value_trap_riskuniverse count: 132 → 109 (per cron docs(skill): frontend-design-system — capture chip / badge / palette rules #69 dual-counter)Verification
ruff check .— PASSpython -m compute.output.schema_check— PASS (no schema change in this PR)python -m pytest tests/test_config.py tests/test_scoring/test_value_trap_risk_sector_coe.py tests/test_scoring/test_cost_of_equity.py tests/test_valuation/ -q -m "not network"— 256 passedpython -m pytest tests/ -q -m "not network" --ignore=tests/test_validation— 1207 passed, 7 skipped (optional deps), 0 failedWhat's NOT in this PR
Metadata.value_trap_risk_delta_by_sectorto confirm the shape matches Damodaran 2019 Ch. 8.4 §"Industry Beta" expectations. Separate PR; the universe-wide count is sufficient for THIS flip per the original PR feat(scoring): sector-keyed cost_of_equity behind config flag (closes #67 prep) #204 gate contractTest plan
market_cap2.2× inflated) #292/fix(valuation): Issue #289 — retire Site-2 DQIC ceiling per Option C (NVR FP) #293 (this IS a methodology change; many tickers in cyclical-vs-defensive cohort shift)sector_coe_enabled: true+value_trap_riskuniverse count ≈ 109https://claude.ai/code/session_01AGU8d6pm4u2fQQ5cebg9qa
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