# Use Cases & Journeys > The [Cookbook](cookbook.html) shows individual skills and their output. This page shows *people with goals* chaining skills end-to-end — including a worked case where the analysis **changed the conclusion**, and the common ways analyses go wrong. Commands use Claude Code slash syntax; on other platforms, reference the matching `prompts/*.md` file instead. **Journeys:** [Dividend investor](#the-dividend--income-investor) · [First-time investor](#the-first-time-investor) · [Earnings-season trader](#the-earnings-season-trader) · [Macro allocator](#the-macro--top-down-allocator) · [The skeptic](#the-skeptic--risk-manager) · [Worked case study](#worked-case-study-when-analysis-changes-the-answer) · [Anti-patterns](#anti-patterns-how-analyses-go-wrong) --- ## The Dividend / Income Investor **Goal:** build a portfolio that pays reliable, growing income — without walking into a [yield trap](glossary.html#yield-trap). ``` /dividend-analysis JNJ ← safety score, payout ratio, coverage, growth streak /dividend-analysis KO /dividend-analysis O /portfolio-review ← paste candidates; check concentration & blended yield ``` **What to look for:** [payout ratio](glossary.html#dividend-payout-ratio) under ~60%, [coverage](glossary.html#dividend-coverage-ratio) > 2x, positive [FCF](glossary.html#fcf-free-cash-flow), and a multi-year growth streak. A 9% yield with a 110% payout ratio is a *warning*, not a bargain — the market is pricing in a cut. **Decision rule:** target a blended portfolio yield of ~3%+ with an average safety score above 7.5, and no single holding over ~10%. --- ## The First-Time Investor **Goal:** "I have some cash and want to evaluate my first stock without pretending I'm a pro." ``` /stock-eval AAPL ← one screen: quality, value, moat, risk ``` Then **don't just read the score — decode it.** Hit an unfamiliar term ([Piotroski F-Score](glossary.html#piotroski-f-score)? [ROIC](glossary.html#roic-return-on-invested-capital)?) → open the [Glossary](glossary.html). Want the intuition → [Concepts](concepts.html). Then sanity-check before trusting it: ``` /result-validator ← paste the stock-eval output; get a confidence score ``` **Mindset:** the signal block is a *starting point*, not a verdict. A "BUY / MODERATE" with **LOW confidence** means "interesting, but the data is thin — learn more before acting." Start small, size positions you can afford to be wrong on, and read [margin of safety](concepts.html#margin-of-safety--position-sizing). --- ## The Earnings-Season Trader **Goal:** have a plan *before* the call, react with discipline *after* it. ``` # Before earnings /fundamental-analysis NVDA ← baseline: what does "good" look like this quarter? /options-analysis NVDA --earnings ← what move is the market pricing in (IV)? # After the call /earnings-call-analysis NVDA ← paste transcript: tone, guidance delta, hidden risks /technical-analysis NVDA ← did price confirm or fade the reaction? ``` **What to look for:** the gap between *guidance* and *expectations*, language shifts versus prior quarters, and whether realized volatility justified the [implied volatility](glossary.html#implied-volatility-iv) you paid for. The edge is in the *delta*, not the headline number. --- ## The Macro / Top-Down Allocator **Goal:** position by reading the macro weather, then drill down to a name. ``` /economics-analysis ← regime: yield curve, Fed stance, leading indicators /sector-analysis ← which sectors lead in this regime? relative strength /stock-eval JPM ← best-in-class name within the favored sector /portfolio-review ← does adding it reduce or add rate sensitivity? ``` **What to look for:** the [macro regime](concepts.html#macro-regimes) sets the tilt — rising rates favor financials and value; easing favors growth and rate-sensitive yield. Pick the sector *then* the stock, and check the portfolio-level effect before you add risk. --- ## The Skeptic / Risk Manager **Goal:** actively hunt for reasons *not* to buy — the most underrated discipline in investing. ``` /financial-report-analyst TSLA 10-K ← accounting red flags, one-offs, footnote risks /insider-trading TSLA ← are insiders selling into strength? /short-interest TSLA ← is smart money positioned against it? /result-validator ← does the bull case survive scrutiny? ``` **What to look for:** disagreement between signals. Bullish fundamentals + heavy insider selling + rising short interest is a contradiction worth resolving *before* you commit. The goal isn't to be negative — it's to make the bull case earn it. --- ## Worked Case Study: When Analysis Changes the Answer A short, illustrative walkthrough (hypothetical ticker **"XYZ"**) showing how a thesis should *evolve* as evidence accumulates — not lock in at step one. | Step | Skill | Finding | Running signal | |------|-------|---------|----------------| | 1 | `stock-eval` | High ROIC, clean Piotroski 8/9, reasonable P/E | **BULLISH** · MED conf | | 2 | `stock-valuation` | DCF + comps say ~15% undervalued | **BULLISH** · stronger | | 3 | `financial-report-analyst` | 10-K reveals revenue increasingly from one customer + a large receivable build | Confidence **drops** | | 4 | `insider-trading` | Two officers sold large blocks last month | Signal weakens to **NEUTRAL** | | 5 | `result-validator` | Flags the customer-concentration + insider conflict; confidence **LOW** | **HOLD**, not BUY | **Lesson:** steps 1–2 looked like a clean buy. The *judgment* came from steps 3–5, where the filing and insider data introduced risks the headline metrics hid. The final call — **HOLD pending the next 10-Q** — is the *output of the disagreement*, exactly what a composite [signal block](concepts.html#anatomy-of-the-signal-block) is designed to surface. A high score with low confidence is a "look closer," not a "go." --- ## Anti-Patterns: How Analyses Go Wrong | Anti-pattern | Why it bites | The fix | |--------------|--------------|---------| | **Trusting a single DCF point estimate** | Tiny WACC/terminal-growth changes swing it wildly | Read the **bear/base/bull range** and sensitivity table, not the single number | | **Ignoring the Confidence field** | A bullish *score* with LOW confidence is a guess | Treat low confidence as "gather more data," not "go" | | **Using stale or guessed data** | The AI reasons over whatever you give it | Paste current, primary-source financials; see [Data & Accuracy](data-and-accuracy.html) | | **Mistaking a yield trap for income** | A 10% yield often signals a coming cut | Check [payout ratio](glossary.html#dividend-payout-ratio) and FCF, not just yield | | **Anchoring on one signal block** | One skill sees one slice | Run `research-bundle` / cross-check with `result-validator` | | **Confusing confidence with conviction** | They're different axes | See the [signal-block anatomy](concepts.html#anatomy-of-the-signal-block) | | **Skipping validation on composites** | Disagreeing sub-signals get averaged away | Always `result-validator` a `full-report` / `research-bundle` | --- > **Next:** [Choose a Skill](choose-a-skill.html) to build your own chain · [Concepts](concepts.html) for the reasoning · [Data & Accuracy](data-and-accuracy.html) before you act. *Educational content only. Not financial advice. Tickers used illustratively, not as recommendations.*