Reading a report阅读报告

A finished report reads as the desk's conversation: one turn per role, in speaking order, under a divider for each team, with every role in its own colour and icon.

• Jump bar — the chips above the report reach any speaker and mark the one you are reading.
• Folding — click a name to fold that turn to one line. Collapse all, in the jump bar or the floating control beside the report, is remembered for your next report.
• Turn links — the link icon beside a name copies a link that opens the report at that turn.

已完成的报告以投研台内部对话的形式呈现：每个角色一轮发言，按发言顺序排列，每个团队前有分隔标题，每个角色都有固定的颜色和图标。

• 跳转栏——报告上方的一排标签可直达任意发言者，并标出你正在阅读的那一位。
• 折叠——点击名字即可把这一轮折叠成一行。跳转栏和报告旁的浮动按钮都提供“全部折叠”，页面会记住这个选择，下次打开报告时沿用。
• 发言链接——名字旁的链接图标会复制一条链接，打开后直接定位到这一轮发言。

Above the conversation is the decision: the portfolio manager's rating, exactly one of Buy, Overweight, Hold, Underweight or Sell, argued in full — with price levels and position size — in the last turn. If no rating can be read from that turn, it shows REVIEW rather than a guessed Hold.

对话上方是最终决策：投资组合经理的评级，以英文显示，五选一——Buy（买入）、Overweight（增持）、Hold（持有）、Underweight（减持）、Sell（卖出）；完整论证以及价位与仓位，都在最后一轮发言中。如果无法从这一轮读出评级，决策处会显示 REVIEW，而不是替你猜一个“持有”。

• Model — the provider, model and thinking depth the run started with.
• ran on fallback model — your model hit its daily limit with the provider mid-run, and the model named finished the run. Part of the report is a weaker model's work.
• recovered from stream — the run failed before filing its report, which was rebuilt from the sections already streamed; the final synthesis may be missing.

Both caveats are repeated in the PDF and the completion email.

• 模型——本次分析启动时使用的服务商、模型与思考深度。
• “已降级模型”——你选的模型在运行途中用完了服务商的当日额度，由标出的模型接手完成。报告中有一部分出自能力较弱的模型。
• “由实时流恢复”——分析在生成报告前失败，报告是用已经实时输出的章节重建的，最后的综合结论可能缺失。

这两项提示也会出现在 PDF 和完成通知邮件中。

A deep run takes ten minutes or more. Each role's section appears as soon as it is written, so you can read while it works; a run waiting its turn shows as queued. Closing the tab does not stop it — the report will be in your history and your inbox.

一次深度分析需要十分钟或更久。每个角色的章节一写完就会出现在页面上，你可以边运行边阅读；正在排队的分析显示为 queued（排队中）。关闭页面也不会中断分析——完成后，报告会出现在历史记录和你的邮箱里。

Recent runs lists your runs by analysis date, newest first, with View and PDF. Search by ticker (NV finds NVDA) or by date (2026-08 for a month) — each hit shows the portfolio manager's turn in full — filter by status, or click a ticker to see only its runs.

最近运行按分析日期列出你的分析，最新的在前，并提供“查看”和“PDF”。可按股票代码（输入 NV 即可找到 NVDA）或日期（如 2026-08 查找整个月）搜索，每条结果都会完整展示投资组合经理的发言；也可按状态筛选，或点击某个代码只看它的分析。

The PDF is typeset as a research note: a first page with the decision, the run's facts, caveats and contents; charts of the prices the agents analysed — moving averages, volume, RSI, and the 52-week range against the report's price target — whenever that data is available; then each team and speaker, bookmarked. It is stamped with the time it was generated, in your own time zone.

PDF 按研究报告的格式排版：首页包含决策、本次运行的基本信息、各项提示和目录；只要能取到相应数据，就附上智能体所分析价格的图表——均线、成交量、RSI，以及 52 周区间与报告目标价的对照；随后是各个团队和发言者的内容，并生成书签。文档上的生成时间按你所在的时区标注。

When a run finishes, the report is emailed once to the address you signed in with, in the report's language: the decision, models and caveats first, then the report. Gmail clips mail over about 102 KB, so a long report stops at the end of a whole section with a link to the rest — and the portfolio manager's section is always kept. A run that ends in an error sends nothing.

分析完成后，报告会以报告本身的语言发送到你登录时使用的邮箱，只发一次：开头是决策、所用模型和各项提示，然后是报告正文。Gmail 会截断超过约 102 KB 的邮件，所以篇幅很长的报告会停在某个完整章节的末尾，并附上查看全文的链接——投资组合经理的章节则总会保留。以出错告终的分析不会发送邮件。

Under a finished report, Ask the Portfolio Manager answers questions about it — from the report alone, in its language, and saying so when the report does not cover the question. Each question is one quick model call, not a run: 60 a day across your reports, saved with the report, and never part of a shared one.

在已完成的报告下方，可以通过“追问投资组合经理”就报告提问。回答只依据这份报告、使用报告的语言；报告没有涉及的问题，它会直接说明。每个问题只是一次快速的模型调用，而不是一次分析：每天在所有报告中累计可问 60 次，问答随报告保存，分享出去的报告不会包含这些问答。

Your history, and a report's full view with its questions and sharing, belong to your account: another signed-in user who opens your report's address gets a not-found error. A finished report can still be read anonymously, without your address:

• visitors who are not signed in are shown a random sample of finished reports;
• anyone not signed in who opens a report's address — turn links included — gets that anonymous view: the report, decision, models and PDF, without your questions. Unlike a share link, it does not expire and cannot be revoked.

Runs that used your holdings from My Assets are excluded from both. To choose your readers, use a share link.

你的历史记录，以及报告的完整视图（含追问和分享），都只属于你的账号：其他已登录用户打开你的报告地址，只会看到“找不到”的错误。不过，已完成的报告仍可能被匿名阅读，页面上不会出现你的邮箱：

• 未登录的访客会看到随机挑选的若干份已完成报告作为样例；
• 未登录的人打开报告地址（包括发言链接），看到的也是这种匿名视图：报告、决策、所用模型和 PDF，但不含你的追问。与分享链接不同，报告地址不会过期，也无法撤回。

使用了你在“我的资产”中持仓信息的分析，不会以上述任何方式公开。想自己决定谁能阅读，请使用分享链接。