NTRS_ZIB
NTRS_ZIB ResearchIndependent coverage

House standards

How a document is built.

A reader who has learned one report can read any of them. The product is the discipline, not the typography.

Two documents, two jobs

The research report is read start to finish. It answers what the company is and what it is worth. The catalyst calendar is scanned and jumped into. It answers what could move the name, and when. They are separate because they are used differently.

Every material claim is tagged

TagMeaning
FILEDStated in an SEC filing or company release, cited by form and date.
ESTIMATEDerived here, with the arithmetic shown.
OPENExpected but unconfirmed. Nothing filed either way.
MARKETPrice, volume, float, published targets and ratings, stamped with the close.
PRESSReported by a named publication, cited by outlet and date.
SOCIALPosted publicly by a named account, cited by handle and date.

PRESS and SOCIAL assert that something was said, never that it is true. Neither is ever the sole basis for a material claim.

Inference is separated from evidence

Where the analysis stops reporting filings and starts reasoning, a violet-bordered block says so. A reader can tell which parts would survive if the analyst turned out to be wrong.

Colour has a fixed meaning

Green is favourable, red adverse, amber unresolved, violet an analyst assumption. These mean the same thing in every document. A company accent taken from its logo is used only for identity: the ticker, the section numbers, the links. It never marks anything as good or bad.

Absence is stated

Every document carries a table of categories that were checked and found empty, so a reader can tell “there is no dividend” from “nobody looked.” A category nobody examined reads Not established, not None.

Revision history is part of the document

Each file ends with its own log, preserved across updates, including entries that record what an earlier version got wrong. Dates are not restamped to make the set look current.