Meridian

Institutional modeling desk. Eight names, live formulas, one blotter.

DCF, LBO, comps, three-statement, merger math, CIMs, buyer lists, earnings notes, IC memos, KYC, GL recon, NAV tie-outs. Tweak an assumption and the grid, the football field, and the memo all move.

This is not a Bloomberg terminal, not a live feed, and not investment advice. Figures are an illustrative close (21 Aug 2026). Treat every number as a teaching case until you replace it with yours.

Inspired by the workflow in anthropics/financial-services — not a fork, not connected to FactSet / PitchBook / S&P. The models run in the browser.

What it does

Desk	What you get
Coverage	Universe blotter ranked by DCF upside. Slash-command cheat sheet.
DCF	Five-year unlevered FCFF, Gordon + exit-multiple TV, WACC/g sensitivity, football field.
LBO	Sources & uses, cash-sweep hold period, MOIC / IRR. Hypothetical take-private on listed names.
Comps	Peer EV/Sales, EV/EBITDA, EV/EBIT, P/E. Median implies a share price.
3-statement	Linked IS / BS / CF on the same growth and margin path as the DCF.
Merger	Accretion / dilution, CIM teaser, buyer list (strategic + financial).
Research	Initiation note and post-print update from the live model. Optional Grok rewrite.
IC memo	Six-section committee paper. Hurdle is 20% IRR / 2.0x MOIC.
Ops	KYC screen, GL recon (GP pack vs admin), NAV bridge.

Search is Ctrl/⌘K. Aliases: /dcf, /lbo, /comps, /earnings, /cim, /buyers, /nav, /gl.

Cases live in this browser (localStorage). There is no account.

Desk loop

1. Open Coverage. Pick a name, or hit /dcf.
2. Change WACC, growth, or an exit multiple. Arrow keys step the field.
3. Read the sensitivity grid and the football field before you trust the headline.
4. Cross-check comps and the three-statement roll-forward.
5. For Harborline, run the LBO, then Merger → Caterpillar / Harborline → CIM + buyer list.
6. Ops: Harborline clears; Vesper is a block. GL and NAV are the July pack and Northwind IV.

Full math: docs/MODELS.md. Universe and ops data: docs/DATA.md. Layout: docs/ARCHITECTURE.md.

Universe

Ticker	Name	Why it is on the blotter
NVDA	NVIDIA	High-growth DCF, crowded multiple.
AAPL	Apple	Quality compounder, low WACC.
MSFT	Microsoft	Cloud / AI, default acquirer on the merger desk.
COST	Costco	Membership flywheel, thin merchandise margin.
ADBE	Adobe	Software take-private teaching case; last print missed.
CAT	Caterpillar	Cycle + services. Acquirer for Harborline.
SBUX	Starbucks	Turnaround. Traffic still the question.
HBL	Harborline Logistics	Private portco. LBO, CIM, KYC, GL, NAV.

Run it

Node 22. Optional: XAI_API_KEY for “Rewrite with Grok” on research and IC memos. Without it, the local model notes still run.

npm install
npm run dev

npm run typecheck
npm test
npm run build

Assumptions persist under meridian.desk.v1 in localStorage. Reset case on a desk restores the file defaults for that ticker.

What this is not

It will not pull a live print, book a trade, or replace a three-statement model your associate already owns. It will not talk to Bloomberg, FactSet, or a GP portal. It will not make you money.

Do not send a Meridian number to a client. Do not file the IC memo. Replace the universe with your own workpapers before you treat a cell as real.

License

MIT. See LICENSE.

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Hermes Bot Mode

This desk is a named Hermes Bot — own model slot, memory, skills, routines, and @mentions.

# once
curl -fsSL https://hermes-agent.nousresearch.com/install.sh | bash

# this repo
./scripts/install-hermes-bot.sh
hermes -p meridian chat

In Hermes Desktop the Bot lands under Bots. Type @meridian from any chat; group it with the rest of the k3ss roster (markets).

File	Role
AGENTS.md	Project harness Hermes loads at session start
.hermes/SOUL.md	Bot personality
.hermes/bot.yaml	Roster, skills, groups
.hermes/skills/meridian/SKILL.md	Portable skill

Docs: Bot Mode · Context files · Skills