> For the complete documentation index, see [llms.txt](https://docs.questflow.ai/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.questflow.ai/financial-harness/what-is-an-investment-schema.md).

# What Is an Investment Schema?

**Short answer:** An investment schema (`invest.md` / `INVEST.md`) is the structured judgment system inside an Investor Skill. YAML tokens are the normative parameters (signals, filters, sizing, risk). Markdown prose is how to apply them. Spec: [docs/spec.md](https://github.com/questflowai/investorskills/blob/main/docs/spec.md).

## Why it exists

Most investing content is passive. The useful part is operational: what they notice, what they ignore, what makes them act. The schema extracts that into something an agent can lint and a human can audit.

It is the finance analogue of `DESIGN.md`: signals ≈ colors, filters ≈ type rules, playbooks ≈ components.

## Token groups

| Token                | Job                               |
| -------------------- | --------------------------------- |
| Signals              | What to watch and how hard        |
| Filters              | Hard pass / reject gates          |
| Sizing               | How much                          |
| Risk                 | Drawdown, stops, margin of safety |
| Universe             | What the model may even look at   |
| Market regime        | When the model is in-regime       |
| Decision cadence     | How often to reassess             |
| Playbooks            | Named decision templates          |
| Circle of competence | Domains it covers                 |

This schema is the skill’s identity file. The harness-level `invest.md` (trader DNA) is the same idea at the *person / Fund* layer — see What is invest.md?.

Related: What is an Investor Skill?

*Nothing here is financial advice.*