Zax Capital / Research / Conviction Ledger

The Conviction Ledger: every call, on the record.

A timestamped, tamper-evident record of every research thesis Zax publishes, scored against what actually happens. It makes credibility something you can check from day one, and it cannot be cherry-picked.

Hash-chainedTimestampedSample entries
How it works

Write once. Score honestly.

Each entry records the thesis, the time it was published, how it will be scored, and its status. Every entry is hashed together with the hash of the entry before it, so altering any past entry would break every link after it.

01 · LOG

Coverage selected

The candidate is timestamped, conflicts are checked and restricted-list status is confirmed.

02 · COMMIT

Thesis published

A testable claim, its horizon and an explicit scoring rule are fixed at publication.

03 · MAINTAIN

Checkpoints

Earnings notes and updates are logged as new entries. Nothing is overwritten.

04 · SCORE

Outcome recorded

Each thesis is scored against its own rule, whether it held or not.

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Sample entries · placeholder content
Verifying chain…
Entry hash (SHA-256)TimestampCoverageThesis & scoring ruleStatus
computing…2026-10-20 14:00 UTCZX-0001 · Example Co.Initiation · [Sector]Thesis: [testable claim about unit economics] over [horizon].Open
computing…2026-10-20 14:05 UTCZX-0002 · Example Private Co.Private deep diveThesis: [testable claim about market share] within [horizon].Open
computing…2026-10-20 14:10 UTCZX-0003 · [Sector] peer setSector initiationThesis: [margin convergence claim] across the peer set by [date].Open
computing…2026-10-20 14:15 UTCZX-0004 · Example Co.Earnings noteCheckpoint: [KPI] vs. thesis threshold. View unchanged.Under review
computing…2026-10-20 14:20 UTCZX-0005 · [Theme]ThematicThesis: [adoption curve claim], scored at [date].Open
computing…2026-10-20 14:25 UTCZX-0006 · Example Co. BInitiation · [Sector]Thesis: [testable claim]. Scoring rule: [metric] at [date].Closed: scored (sample)

The hashes are computed live in your browser from each sample entry and the hash before it, which shows the mechanism. The entries are fictional placeholders. Zax has not yet published research.

Compliance note. Using any ledger results in fund marketing is subject to the SEC Marketing Rule's conditions on performance and hypothetical performance, and requires compliance review. The ledger records research views and is not a performance record of any fund or account.

Want the full record when it starts?

Founding subscribers see every ledger entry, with its full rationale and scoring, at the moment of publication.

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