THE BROADWAY BRIEF | December 29, 2025

Yesterday wasn’t about the record. It was about confirmation.

The framework didn’t change. Same late-season posture that’s been in place since December 19: selective exposure, environment first, margin-aware. No volume. No flex. Just structure doing the work.

And it continues to show up.

Since December 19, the card sits 28–14.
Not because variance cooperated.
Because the assumptions held.

Wins and losses have resolved cleanly. Either structure confirmed or execution missed. No noise. No rewrites.

Standard reminder: these are trend-based positions, not predictions. Trends describe repeatable behavior, not certainty. Know the assumptions. Size responsibly. Let the long run - not one result - do the work.

Let’s break these down.