The full method is published at
How I Underwrite Deep Value Stocks: the screen gates, the twelve forensic flags, the Net Cash Bridge, the scoring anchors and the track-record rules.
Value Score is the Cantillon Value Score out of 25 (Cheapness, Business quality, Catalyst and clock, Balance sheet and governance, Mispricing conviction), after red flag deductions.
Tiers: 20 to 25 Conviction Buy · 15 to 19 Buy · 10 to 14 Watch · under 10 Pass. A rating also has to clear a return hurdle: 25% a year for a Conviction Buy, 18% for a Buy. A good score that misses its hurdle is a Watch.
Timing comes from the IVT read and sets the action, not the score:
Accumulate buy now ·
Scale-In start partial, add on confirmation ·
Wait alert only.
Status: Working thesis intact, position open ·
Revised position open but the rating has been changed since publication, with the reasons published at the top of that issue ·
Watchlist published as a Buy but timing gate is Wait, not entered yet ·
Closed thesis played out or broken.
Entries are never moved. A position is recorded at the closing price on the day it was first published, whatever we learn afterwards. If a rating is later cut, the entry stays where it was and the loss belongs to us.
Return is price only, in the stock's local currency, before any currency move. Current prices update live from the same feed as the IVT dashboard; the hand-set price is a fallback if the feed is unavailable.