Thesis-Broken Exit
A pre-named exit triggered when a falsification signal fires — typically a pre-named operational signal moves against the thesis (margin contraction, churn acceleration, falling guidance, receivables-vs-revenue divergence) or a new structural bear case emerges that the original thesis did not contemplate. The discipline at thesis-broken is to investigate the explanation, verify whether the signal is genuine or a one-time noise event, and exit decisively if the falsification holds. Re-defining the trigger after it fires is the textbook failure mode.
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