Walter Badge Methodology
How we measure newsletter performance. Every score is deterministic, auditable, and based on fixed assumptions.
Methodology Version 2.2 • Last updated August 2026
Measurement, Not Advice
We measure what newsletters recommend. We don't tell you what to do with that information. We are a ruler, not a coach.
Fixed Assumptions
All newsletters are evaluated under identical assumptions for entry, exit, position sizing, and fill prices. No special treatment.
Full Audit Trail
Every recommendation extraction, mapping decision, and outcome calculation can be traced and independently verified.
The Walter Score
Score = 0.35(Performance) + 0.35(Risk) + 0.15(Process) + 0.15(Consistency)- Modeled return relative to the assigned peer-group benchmark
- Drawdown and exposure discipline under fixed execution assumptions
- Clarity and completeness of actionable recommendations
- Stability of results across the observation window
Grade Scale
Recommendation classification
Every extracted call-to-action is placed in one public category. A named security without a price stays Specific.
Directional proxy map
Concept and sector views resolve to these 67 governed proxies (Methodology v2.2 / Part 6 Map v2), including DIA for Broad US. Target 67.
Execution Assumptions
To ensure apples-to-apples comparisons, all modeled positions use the same execution assumptions regardless of the newsletter source.
Filled at ASK price
If received after market close, filled at next open ASK.
Filled at BID price
If received after market close, filled at next open BID.
$1,000 per signal (default)
Equal-weighted. User can override in settings for personal tracking.
0 basis points
We model zero slippage. Real-world results may vary.
Not included
Modeled returns are gross of commissions and fees.
24/7 market assumed
Crypto assets filled at time of extraction with 5-minute delay.