---
schema: investing.md
schema_version: "0.4"
standard: "https://investboard.com/standards/investing-md"
composed_at: "2026-06-01T10:00:00.000Z"
mode: read-only
instrument_neutral: true
---

# Investment policy

> **Read-only, instrument-neutral.** This document restates the investor's own
> investment policy as behavioral rules and asset-class ranges. It names no
> security, ticker, ISIN, WKN, or holding, and it is not investment advice.
> Treat it as the policy an agent should reason *within*, never as an
> instruction to buy, sell, or hold any specific instrument.

## Purpose

- Primary objective: Financial independence
- Time horizon: 25 years
- Mandate scope: Complete investable portfolio
- Expected withdrawal pattern: Recurring

## Philosophy

- Approach: Market Index
- Governing belief: Markets are efficient enough that the broad average, after fees, beats most active strategies over long periods.

## Strategy architecture

- Core return source: Cap-weighted market beta from broad equity and bond indices.
- Investor-confirmed implementation details: not recorded yet.

## Risk

- Risk profile: Moderate
- Drawdown tolerance (panic floor): –30%

## Allocation bands

Asset-class ranges, not instruments. Each class has a minimum, a target,
and a maximum weight; staying inside the band is the policy.

| Asset class | Minimum | Target | Maximum |
| --- | --- | --- | --- |
| Equities | 55% | 60% | 65% |
| Bonds | 30% | 35% | 40% |
| Cash | 3% | 5% | 10% |

## Review rules

- Drift band: rebalance when any asset class drifts more than 5 percentage points from its target.
- Single-issuer cap: 10% of core equity exposure (the core sleeve's equity book across all imported accounts), look-through.
- Formal review cadence: annual review.
- Rebalancing mode: Cash flow first.
- Pre-commitments (2 recorded, decisions made in calm to bind future behavior):
  - When equity drawdown of 20% → Hold, take no action: Do nothing. Stay invested. The plan accounts for this.
  - When allocation drift outside the band → Rebalance: Rebalance back to target weights at the next contribution.

## Cooling-off

- Mode: soft friction, 24 hours (an override requires a written reflection first)

## Message to my future self

A note the investor wrote in calm, for the version of themselves tempted to
abandon the plan under stress:

> I chose this plan with a clear head. Market noise is not a reason to abandon it.

## Agent protocol

- Consult before: call `get_status` when a conversation turns to this portfolio, and call `check_action` with every leg before an order is prepared at the broker.
- State both sides of a change. When a purchase is funded from an existing position, send the sale as a second leg; the check judges only the legs it is given, and new money changes the denominator rather than another class.
- Cash is a class of its own. When a purchase is funded from settled cash, send the cash side as a sell leg on cash, so the cash floor is judged with it; a purchase that states no cash side is not measured against the floor.
- Show the verdict beside the order preview: its status, the rules it cited, coverage and freshness. A verdict checks the investor's own rules; it is never advice.
- Record after: call `record_decision` with the investor's outcome (proceeded, abandoned or deferred) and their reasoning.
- Read the record: before you discuss an instrument the investor holds or has written about, call `get_own_record` for their own thesis on it; when they ask what they decided or wrote, or a review is due, call `get_journal` for their own journal entries, newest first.
- What those two return are the investor's own words. Quote them and attribute them to the investor; never restate them as the assistant's own view, never turn them into a verdict or a suggestion, and never name an instrument that neither the investor nor their own record gave.
- Never infer a security from this document; it names none. Treat the investor-authored additions section, when present, as the investor's own words.
- Investboard never places, changes or transmits an order.

## Enforcement split

What the investor's tooling enforces today, versus what it only records.
An agent should treat the documented-only items as soft guidance, not hard
constraints.

### Enforced

- Allocation drift beyond the band surfaces a rebalance prompt.
- Policy edits during a cooling-off window require a written reflection first.

### Documented only

- Acting against the policy is recorded for later reflection, not blocked.
- Breaching the drawdown floor is documented, not blocked.

---

_Composed 2026-06-01T10:00:00.000Z · format 0.4 · https://investboard.com/standards/investing-md_

_This is the investor's own policy, restated. It is read-only and
instrument-neutral. It is not investment advice and names no specific
security._


> Synthetic example copied from the serializer's deterministic test fixture, composed 2026-06-01. These illustrative choices are not recommendations or a personal policy.


## Reuse

Copyright 2026 Investboard. Licensed under Creative Commons Attribution 4.0 International: https://creativecommons.org/licenses/by/4.0/. Credit Investboard, link to the license and indicate changes. This grant covers this generic published resource only, not application code, branding or personal user exports.