INTC (Intel Corp) — Execution Log (post-hoc) #

Status: OPEN, 14 sh, oversized hold re-authorised by the owner 2026-09-03; the trim to 8–9 sh is the T1 action at 115. Thesis written post-hoc on 2026-09-02: INTC_thesis.md + INTC_plan.json (verdict: 18A on track and insiders aligned, but not self-funding, +21% dilution, and not cheap at 59x forward; EV/price 0.88; no adds, rungs 115 / 141 / 200, exit on any kill condition regardless of P&L). Classification: process mistake at entry, logged as an exception, not a pattern. A profitable outcome does not validate it (rule-010). Logged from the DEGIRO confirmations in Gmail; neither buy was recorded in the ledger at the time. This log is the audit trail (rule-002).

Position #

Lot 2 was funded by the NFLX (10 sh @ 81.11) and PLTR (1 sh @ 185.35) exits placed four minutes earlier.

Process check against CLAUDE.md (2026-09-02 playbook) #

Log #

• 2026-09-02: thesis and plan written after the fact. The owner's two conditions hold (18A on track per Intel's July statements; CEO USD 35M bought, none sold; CFO bought; no cluster). The checklist fails on self-funding and dilution (USD 22.6B offering at 95 on Aug 12). Not cheap: 59x FY26E. Trim to the rule-006 cap proposed. Placeholders replaced by the ladder above. Next print 2026-10-21.
• 2026-09-03: owner declined the market trim ("I don't want to sell, especially at a loss, right now; only on a better opportunity or when TP hits"). Agreed policy: sell only on a rung, a kill condition, or a written better-EV switch; the sign of the P&L is not a reason either way, so a kill condition overrides a loss. The trim moves to T1 (115): sell down to 8–9 shares there. The hold is re-authorised in INTC_plan.json so the weekly monitor stops flagging the size. Owner's own framing: this is a mistake to learn from, not a winning pattern, unless it makes bank, and even then it is luck.