An investment research workflow you can revisit

Turn a company idea into a documented thesis, then challenge the reasoning before relying on it.

A useful investment research process connects numbers with their sources and records the assumptions behind a decision. Lumunir brings company research, private notes, report preparation and review into a connected workspace for investors, analysts and portfolio managers.

1. Define the company question

Start with a question rather than a target price. What drives demand? How does the business earn money? What would make the thesis fail? Use available screening and company overview tools to establish the research scope and identify peers.

2. Examine financials and original evidence

Review revenue, profitability, cash generation, working capital and the balance sheet. Distinguish standalone from consolidated figures and annual from quarterly periods. Open available annual reports and supporting source documents to check accounting notes and the explanations behind changes.

3. Connect company and macro research

Consider how interest rates, inflation, currencies and policy could affect demand, financing costs or margins. Record the date and source of each relevant indicator. A broad economic narrative needs a clear connection to the company’s operating drivers.

4. Examine valuation and alternative scenarios

Write down the assumptions behind growth, margins and capital requirements. Compare a base case with weaker and stronger outcomes. Quantitative and technical tools can add context where supported; keep their data periods and methods visible rather than treating a historical pattern as a forecast.

5. Prepare a research report

Bring the investment question, evidence, valuation assumptions, risks and counterarguments together. Keep the distinction between reported facts, calculations and your interpretation clear. In Lumunir, use private research notes and supported report workflows to preserve your reasoning.

6. Challenge and revise the thesis

Submit your own readable report for AI-assisted critique with your consent. Look for unsupported claims, missing counterarguments and calculations that need checking. The critique helps review reasoning; it does not independently verify every fact. Make analyst revisions and record what would cause you to change your view.

A compact report checklist

Business model and key operating drivers
Financial periods, accounting basis and source references
Valuation assumptions and sensitivity to change
Risks, counterarguments and unresolved questions
Review date and evidence that would change the thesis

Explore Lumunir

Read the complete product introduction · Read the related research guide

Create an account Plans and included features

Built by iFactory India. Research tools support your judgement. Coverage and available features vary; no investment returns are promised.