Research that owns its record
Think Noted is independent equity research. What makes it different is what happens after a note publishes: if it takes a position, that position is dated, priced and tracked in public, permanently.
Nothing gets buried
The calls that don't pan out stay on the site and stay in the record. Notes can't be quietly re-dated either: a note publishes on the day its call is struck, so there is no way to post one later and claim an earlier entry price.
The reasoning is inspectable
Where a note carries a model, the assumptions behind it are published with it: discount rate, price deck, terminal growth, the lot. The base case is checked against the stated target before publishing, so the model has to support the thesis rather than decorate it.
Not everything is a trade
Plenty of good research isn't a call on a ticker. Coverage notes are first-class here: the return is still tracked, but they carry no price target and are excluded from the hit rate.
Independent, and disclosed
No bank, no sell-side relationship. Every note states the position held at publication. Returns are always shown against a benchmark, currency-adjusted, so outperformance has to be earned rather than cherry-picked.
How a call is scored
- Open positions are marked to the live price and reported as unrealized. They are never counted in the hit rate.
- Closed positions are realized at their exit price. The hit rate is realized return > 0, over closed calls only.
- Benchmark-relative. Every call is measured against a benchmark over the same window, currency-adjusted, so alpha is apples-to-apples even for cross-border names.
- No backdating. A note publishes on the day its call is struck, and returns are measured from that date. There is no mechanism to post a call later and claim an earlier entry.
Want to publish here?
Writing isn't open yet. Right now this is a one-person site. When it opens to other analysts, the deal will be the same one the record runs on: if a note takes a position, it's dated and priced, and the tracking can't be turned off. Leave your email and we'll tell you when that happens.
This site is research and commentary, not investment advice, and not a solicitation to buy or sell any security. Do your own due diligence.