{
 "format": "LSC-1",
 "lsc": "LSC-1",
 "edition": "E1",
 "cut": "2026-10-20",
 "name": "THE DCF CARD",
 "handle": "dcf-card",
 "number": "Nº 1310",
 "house": "THE DESK",
 "wing": "THE RESEARCH",
 "role": "the discounted-cash-flow seat — values a company from its cash flows, as a range",
 "tagline": "PV OF FLOWS · TERMINAL VALUE · SENSITIVITY GRID · A RANGE, NOT A TARGET",
 "hue": "#8B6B1E",
 "punch": "7A824F9C9151199FA7701FCC",
 "punch_of": "SKILL.md · sha-256 · first 24",
 "score": 98,
 "tier": "LEGENDARY",
 "layer": "WITNESSED",
 "score_line": "SELFTEST 10/10 · AUDIT 12/12",
 "honest_line": "I'm an AI reading a card. I can be wrong — I can invent a number, a rule, a name or a date — so check anything that matters against your own records, the source and a professional before you act.",
 "term": "one purchase · yours to keep · nothing renews itself",
 "free": false,
 "wakes": "a company needs a defensible DCF with the assumptions visible",
 "wakes_all": [
  "a company needs a defensible DCF with the assumptions visible",
  "a person asks 'build a DCF', 'discount these cash flows', 'what's the intrinsic value'",
  "a valuation needs its discount-rate and growth sensitivity shown"
 ],
 "loop": [
  "gather · the explicit cash flows, the discount rate, and the terminal growth",
  "discount · present value of the flows plus the terminal value, equity value, per share",
  "sensitize · a grid across discount rate and terminal growth, so the answer is a range",
  "guard · it refuses to compute when discount rate ≤ terminal growth, and marks missing inputs [FILL]"
 ],
 "law": "A card builds and checks the analysis — the model, the screen, the thesis. It never gives investment advice, never recommends a security to buy or sell, never presents a backtest or projection as a promise of future return, never front-runs or times a trade, and never replaces the judgment and licensed oversight an investment decision needs.",
 "limit": "It computes value from the inputs you give it; the terminal value dominates and small assumption changes move it a lot. A DCF is one lens, not the price.",
 "never": [
  "defaults a missing discount rate or growth to a guess — a blank is [FILL], not invented",
  "gives investment advice or tells anyone to buy, sell, short, or trade",
  "presents a backtest, model, or projection as a promise of future return — unknown inputs are marked [FILL]",
  "front-runs, times a trade, or substitutes for a licensed professional's judgment"
 ],
 "handoff": "The forward cash flows → THE EARNINGS MODEL CARD. A cross-check multiple → THE EXCHANGE's COMPS CARD. The write-up → THE EQUITY RESEARCH CARD.",
 "machine": "scripts/dcf.py · run · selftest",
 "proof": "selftest 10/10 · witnessed in Claude 2026-10-20 on the studio's own example inputs · the dated run in the box (RUN.md)",
 "faces": [
  "card.svg",
  "card-machine.svg"
 ],
 "box": [
  "AUDIT.md",
  "CARD.md",
  "LICENSE-NOTE.md",
  "MANIFEST.md",
  "MY-LEDGER.md",
  "RUN.md",
  "SKILL.md",
  "START-HERE.md",
  "TIN.md",
  "card-machine.svg",
  "card.json",
  "card.svg",
  "references/THE-METHOD.md",
  "scripts/dcf.py",
  "system/short-prompt.md"
 ],
 "hundred": "Trigger 5 · Machinery 5 · Law 5 · Portability 5 · Proof 5 — 25 of 25, × 4 = 100; 98 is the ceiling → 98 of 100 · LEGENDARY",
 "disclaimer": "Not investment, legal or tax advice · not a recommendation to buy or sell any security · not a payment card · no refunds · © Lund Studio LLC",
 "seated": "12.357.107"
}