A kill condition is not a vibe. It is a pre-commitment you can audit when the position is red.
Three designs that work for solo books
- Price from cost — e.g. “Exit if −15% from average cost.” Simple, measurable, matches cost basis on the desk.
- Thesis break — name the falsifier in advance (guidance cut, multiple compression thesis dead, competitor ships first).
- Time stop — “If the thesis hasn’t played in 90 days, re-underwrite or cut.” Stops zombie holds.
Template
Kill condition:
1) Thesis break: _______________________________
2) Price: −____% from average cost of ______
3) Time: re-underwrite by __________ or exit
I will not average down without a new Pass station.
On Solo Fund AI, Memo must include a kill condition before Ticket can mean anything. If the model cannot state one, treat the run as incomplete.
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