Editorial standards & disclosures

What this is, and is not

The Daily Finance publishes independent, source-cited research on ASX-listed companies, written for informed readers who make their own decisions. It is investment research, not personal financial advice. We publish no buy, sell, or hold recommendations, no price targets, and no ratings. Every article ends in observation — what the evidence supports and what would change it — never in a call to action.

How an article is researched

Coverage is triggered by a live market event — a sharp move, a results surprise, a guidance change, a capital action — and the article exists to explain that event and judge, on the evidence, whether the market’s reaction is reasonable. The research is primary-source first: the triggering announcement and the company’s filings are read in full, the multi-year financial history is rebuilt from annual and interim reports, and the return metrics that decide the business — return on invested capital, owner earnings, and the measures specific to banks, miners, REITs, insurers, and software — are computed and shown, not asserted.

Valuation is matched to the business: residual income for banks, mid-cycle net-asset value for commodity producers, owner-earnings and cash-flow multiples for industrials and software. Each article carries four scenarios, the one or two facts that will decide the outcome, and the disclosures we will be watching next.

The publishing gates

No article reaches the site on trust alone. Each one must pass a sequence of automated gates before it can be published. They check that the frontmatter and identity are well formed; that the company is named by its registered legal name, verified against the exchange; that the financial history is current and carries the metrics its business type requires; that the sources meet a breadth-and-diversity floor spanning primary filings, market data, macro context, peers, and independent or regulatory sources; that every reported figure reconciles to a cited source; that no regulated recommendation language is present; and that the prose is substantial. A failure blocks publication. The gates cannot judge whether an analysis is right — that remains editorial — but they ensure each article is honest about its provenance, free of advice language, and substantial enough to be useful.

Verification and uncertainty

Each article declares a verification tier — full, partial, or unverified — that states what was actually done, not what we wish we could claim. Where a figure is estimated, translated from another currency, pro-forma, or author-computed, it is labelled as such beside the number, and the article’s source notes set out the confidence and the gaps. We would rather be explicit about what we could not verify than imply a precision we do not have.

Sources and citations

Material claims carry light in-body citations that resolve to a reader-facing references list at the foot of each article, and to a machine-readable source record behind the page. Primary documents — exchange announcements, annual and interim reports, regulator and central-bank data — outrank media and aggregators, and financial-history figures are sourced only to primary filings or company releases.

Independence

Coverage is selected and written independently. Articles are not sponsored, commissioned, or paid for by the companies covered, and no advertising relationship influences what we publish or what we conclude.

Corrections

Each article is a dated, immutable edition — it carries its facts “as at” its publication date and is not silently changed afterward. A material error is corrected transparently: by a dated note, an annotation, or a fresh dated edition, with the change made visible rather than quietly overwritten. If you find something that needs correcting, please tell us.

Editorial and corrections: assistant@paulcrossland.com

The Daily Finance is published from Australia (https://thedaily.finance/). Content is in Australian English and references ASX-listed securities unless stated otherwise. Nothing on this site is a solicitation or recommendation to acquire or dispose of any security.