THE SQUARE TAX · OUR SYSTEM
Every selection we publish falls into one of four categories: Official Play, Strong Lean, Lean, or Pass. Here is exactly what each one means, and how we keep ourselves honest.
THE FOUR CLASSIFICATIONS
GRADE 01
Official Plays are our premium selections, published to Tax Code members and tracked in our Official record. This is the only category that counts toward the record.
GRADE 02
A selection with substantial supporting matchup and market evidence that we like considerably, but which does not meet our threshold for an Official Play. Strong Leans are tracked separately and never count toward the Official record.
GRADE 03
A selection with some favorable matchup or market factors, but with greater uncertainty or less conviction than a Strong Lean. Leans are tracked separately and never count toward the Official record.
GRADE 04
A Pass is a game where we don’t identify sufficient value. We would rather skip a game than force action.
OUR COMMITMENT
Every published Official Play is part of the record. Wins and losses are both included.
Selections that were not published do not count toward the record, in either direction.
We never retroactively promote a Lean into an Official Play. A grade is set when we publish it.
THE TAX CODE
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