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A Playbook is an investment strategy. It defines how a portfolio is built and run — its universe, risk rules, position sizing, and what counts as a buy or a sell — and your Agent applies it to every analysis and trading decision for that portfolio. A Playbook belongs to a portfolio, not to the Agent as a whole. So one Agent can hold several Playbooks at once, one per portfolio. A long-term value portfolio and a short-term momentum portfolio can live under the same Agent while following completely different Playbooks.

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What a Playbook drives

A portfolio’s Playbook shapes the portfolio end to end:
  • Creation — the strategy you set when you start the portfolio: its goal, universe, and constraints
  • Configuration — risk limits, position sizing, screening criteria, and rebalancing rules
  • Trading behavior — what the Agent buys, sells, trims, or flags for that portfolio, and the reasoning it measures every decision against

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What belongs in a Playbook

  • Investment universe — the markets and asset types this portfolio trades
  • Watchlist — the names this strategy tracks
  • Risk preferences — what you avoid and what you tolerate
  • Position sizing rules — concentration limits and sizing logic
  • Screening criteria — what makes a name a candidate for this strategy
  • Benchmark — what you measure this portfolio’s performance against
  • Buy and sell discipline — the conditions that trigger an entry, a trim, or an exit

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One Agent, several Playbooks

Because each portfolio carries its own Playbook, an Agent can run distinct strategies in parallel:
  • A long-term US equity portfolio with a quality-and-valuation Playbook
  • A momentum portfolio with a different risk and sizing Playbook
Keeping each strategy in its own Playbook means the Agent never applies one portfolio’s rules to another.

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Playbook vs Profile

A Playbook is the strategy for a portfolio. It is not the Agent’s identity. How your Agent talks to you — its tone, language, and general research style — lives in the Agent’s Profile, set once when you create the Agent. The Playbook is specifically the investing rules for one portfolio.

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Example Playbook entry

This portfolio trades profitable US and Hong Kong software companies. Prioritize business quality, revenue durability, margin trend, free cash flow, and reasonable valuation. Cap any single position at 10% and avoid heavy leverage. Trim when the thesis weakens or a position grows past its cap.
A Playbook is built from rules like this. Each one tells the Agent something stable about how this portfolio should be run, and the Agent applies all of them automatically.

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What should stay out

Do not put temporary tasks in a Playbook. “Analyze AAPL today” is a one-off — it belongs in chat, or as a scheduled task if it recurs. A Playbook is for the rules that hold across every decision for the portfolio, not for today’s to-do item.

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Review cadence

Review a portfolio’s Playbook whenever its strategy changes. A stale Playbook is worse than an empty one: it quietly steers the portfolio toward assumptions you have already moved past. When your thesis shifts, your risk tolerance changes, or the universe expands, update the Playbook so the Agent optimizes for the strategy you hold now.