Research exists to explain markets, not predict them.
Every analysis starts with a verified event and works forward through the transmission chain. The reader should always be able to see how a headline becomes a sector move, and how that move affects individual companies.
Evidence before conclusions
No analytical position is formed before primary-source data is assembled and verified.
Mechanism before opinion
Each piece explains how something works before stating what it means.
Explicit assumptions
Readers should know what is fact and what is named inference.
Transparent uncertainty
If a point cannot be verified, it is excluded instead of estimated.
Source tiers
Tier 1 sources are always preferred. Lower tiers are used only when a primary source is unavailable, and any substitution is stated explicitly.
| Tier | Sources | Rule |
|---|---|---|
| Tier 1 | PSX · Company filings · SBP · PBS · NCCPL | Primary figures, official releases, and filed statements. |
| Tier 2 | Industry associations · IMF · World Bank | Secondary context when primary data is not available. |
| Tier 3 | Reuters · Bloomberg · Dawn Business · Profit | Tertiary references that must be cross-checked. |
| Tier 4 | Social media · forums · blogs | Never used as evidence. |
Eight steps, never reversed
The sequence is fixed. Analysis never begins at the conclusion and works backward; every step must be complete before the next one starts.
Collect facts
Gather raw data exclusively from Tier 1 sources.
Verify
Confirm every key figure against at least two independent references.
Identify the mechanism
Map the causal chain from event to sector to company.
Test assumptions
Make every assumption visible before conclusions are written.
Consider alternatives
Check competing explanations against the evidence.
Draw conclusions
Separate verified fact from named inference.
State the falsifier
Specify what evidence would overturn the thesis.
Publish with QA
Check factual accuracy, writing clarity, and compliance.