RULERS dossiers
Each week the RULERS analyst updates a living dossier for the buy-range leaders, names with fresh Radar events, and anything on research/watchlist.txt. Each dossier covers Radar, Understand,Love (moat and management), Event, Reduce basis (a tranche ladder; no options) and Story, judged against the Rule #1 method. This is research, not advice.
| Ticker | Verdict | Conf. | Price now | Tranche 1 | vs T1 | Trim | Bottom line | Updated |
|---|---|---|---|---|---|---|---|---|
| ADBE Adobe Inc. | WATCH | 3/5 | $237.69 | $225.00 | 6% | $330.00 | A high-ROIC software franchise at ~10x non-GAAP earnings, but generative-AI disruption, a CEO handover (1 Dec) and an interim CFO leave the story unproven; the corrected Sticker is only ~$230. | 2026-10-09 |
| KNSL Kinsale Capital Group, Inc. | WATCH | 4/5 | $329.72 | $280.00 | 18% | $400.00 | An exceptional specialty insurer (combined ratio ~76%, ROIC 23%), but on normalised earnings it is above all three corrected prices because E&S property pricing is softening; wait for a lower price or Q3 proof. | 2026-10-09 |
| LULU lululemon athletica inc. | WATCH | 3/5 | $94.46 | $90.00 | 5% | $125.00 | A high-ROIC brand with net cash and a new CEO, but US sales are shrinking, earnings are falling and TTM EPS is flattered; wait for a lower price or proof the product fix works. | 2026-10-09 |
Track record 3 calls logged · graded after 4 weeks against the S&P 500
Every RULERS verdict and Radar EVENT/PROBLEM is logged with its price. The Professor reviews the outliers forprocess lessons. Judge the process, not the outcome.
Nothing old enough to grade yet.