Methodology
Evidence should remain connected to its context.
Valorem structures investment information so that reported facts, calculations, inference, uncertainty and unresolved questions remain distinguishable throughout the research process.
The objective is not to remove uncertainty from emerging markets. It is to make that uncertainty easier to identify, assess and investigate.
Source context
Information begins with its source.
Valorem brings together information from sources that may include public disclosures, company-provided materials, supporting documents, official publications and other traceable research inputs.
Where practical, information is retained alongside its source context so that users can understand where a statement originated and evaluate it accordingly.
The presence of a source does not, by itself, make a statement verified or complete.
Information labels
Different types of information should not look the same.
Reported
Information presented by a company, source or other identified contributor.
Reported information reflects what the source states. It is not automatically treated as independently verified.
Calculated
A value derived from available inputs using a defined calculation.
Where relevant, the underlying inputs and method should remain identifiable.
Inferred
An interpretation or conclusion drawn from available evidence rather than directly stated by a source.
Inference should remain distinguishable from reported fact.
Verified
Information for which Valorem has sufficient supporting evidence to substantiate the specific claim being presented.
Verification applies to the particular statement or data point, not automatically to every statement associated with the same company or opportunity.
Unavailable
Information that is required or relevant to the research process but is not currently available in sufficient form.
Unavailable information should not be replaced with invented values.
Sample
Illustrative content. Never data and never verified.
Demonstration content is kept clearly separate from real research data.
Contradictions
Contradictions are research signals, not formatting problems.
When credible sources disagree, Valorem should not silently choose the more convenient value.
Conflicting information may be retained as part of the research record until additional evidence allows the discrepancy to be resolved.
Where appropriate, users should be able to see:
- the competing claims
- their respective sources
- the date or context attached to each
- whether the contradiction remains unresolved
Information gaps
Missing information remains visible.
An absence of information can itself be relevant to diligence.
Valorem is designed to surface gaps rather than fill them with assumptions.
Examples may include:
- missing documentation
- unanswered diligence questions
- incomplete operating information
- unclear ownership or project structure
- outdated disclosures
- unsupported claims
These gaps can inform further research but should not automatically be interpreted as evidence of wrongdoing or weakness.
Time and freshness
Evidence has a date.
Emerging-market information can change quickly.
Where available, Valorem retains dates, publication context and update history so users can distinguish recent information from older evidence.
A previously supported statement may require review when:
- new information becomes available
- market conditions change
- a company updates its disclosures
- contradictory evidence emerges
- the underlying source becomes outdated
Restricted information
Access follows permission.
Not all information is intended for unrestricted distribution.
Valorem distinguishes between information that can be made broadly available and material that carries access restrictions.
Restricted information should only be made available according to the permissions associated with it.
Approval to receive or review information does not imply permission to redistribute it.
Commercial neutrality
Commercial relationships should not determine research presentation.
Valorem does not design rankings or research presentation around paid placement.
Commercial relationships should remain separate from the evidence used to structure and communicate investment intelligence.
Human judgement
Structured intelligence does not replace judgement.
Valorem is intended to support screening, research and diligence.
It does not eliminate the need for:
- investor judgement
- specialist due diligence
- legal advice
- financial analysis
- technical expertise
- independent verification where appropriate
Valorem informs screening and diligence. It does not replace investment judgement or specialist due diligence.
Methodology principle
The objective is simple: preserve the distinction between what is known, what is reported, what is calculated, what is inferred and what remains unresolved.
That distinction is central to how Valorem approaches emerging-market investment intelligence.