The Ledger

This is the whole point of the site. Every verdict gets a date and a price on the day it is published, and the market grades it from then on. Nothing is edited, nothing is quietly removed, and the wrong calls sit in the same table as the right ones. Updated Sep 1, 2026, 16:30 UTC.

How grading works

• Price then is the market price recorded when the verdict was published (the closing price on, or nearest to, the verdict date). Price now is the latest price at the time this page was last generated; it may be delayed.
• Change is the simple price return between those two points — no dividends, taxes, fees, or slippage. Where shown, vs S&P 500 is that return minus the S&P 500's return over the same window.
• Verdicts are never edited or deleted. A verdict may be superseded by a new, separately dated verdict on the same company; the old row stays. Grading is computed automatically by the pipeline, not curated by hand.
• A dash (—) means the figure is not yet available; it fills in on a later update.

All of this tracks a hypothetical model portfolio — no real positions are represented, and past performance, graded or otherwise, does not indicate future results. Content is AI-generated and educational only. Full disclaimer