/* ═══════════════ $DMTR — design tokens ═══════════════ */
:root {
  --bg: #FCFCFB;
  --surface: #FFFFFF;
  --ink: #0D0F0C;
  --body: #3E4440;
  --mut: #6E746E;
  --faint: #A3A8A1;
  --line: #E8E8E3;
  --line-2: #DCDCD5;
  --green: #16A34A;
  --green-deep: #15803D;
  --green-tint: #E9F7EE;
  --green-line: #BFE6CC;
  --red: #DC2626;
  --red-tint: #FDECEC;
  --bronze: #B45309;
  --bronze-tint: #FBF0DF;
  --r: 14px;
  --mono: "JetBrains Mono", ui-monospace, "SF Mono", monospace;
  --sans: "Inter", -apple-system, "Segoe UI", sans-serif;
  --disp: "Archivo", "Inter", sans-serif;
}

* { margin: 0; padding: 0; box-sizing: border-box; }


body {
  font-family: var(--sans);
  font-size: 16.5px;
  line-height: 1.65;
  color: var(--body);
  background: var(--bg);
  -webkit-font-smoothing: antialiased;
  text-rendering: optimizeLegibility;
}

html { overflow-x: clip; }

::selection { background: var(--green); color: #fff; }

.mono { font-family: var(--mono); }
.grn { color: var(--green-deep); }
b { color: var(--ink); font-weight: 600; }

.wrap {
  max-width: 1120px;
  margin-inline: auto;
  padding-inline: clamp(20px, 4.5vw, 48px);
}

/* focus */
a:focus-visible, button:focus-visible {
  outline: 2px solid var(--green-deep);
  outline-offset: 3px;
  border-radius: 6px;
}

/* ═══════════════ memo home link ═══════════════ */
.memo-home {
  display: block;
  padding: 9px 20px;
  font-size: 11.5px;
  letter-spacing: .08em;
  color: var(--mut);
  text-decoration: none;
  border-bottom: 1px solid var(--line);
  background: var(--surface);
}
.memo-home:hover { color: var(--green-deep); }

/* ═══════════════ marquee ═══════════════ */
.marquee {
  border-bottom: 1px solid var(--line);
  background: var(--surface);
  overflow: hidden;
  white-space: nowrap;
}
.marquee-track { display: inline-flex; animation: scroll 36s linear infinite; }
.marquee:hover .marquee-track { animation-play-state: paused; }
.marquee-group { display: inline-flex; }
.marquee-group span {
  font-family: var(--mono);
  font-size: 12px;
  letter-spacing: .1em;
  color: var(--ink);
  padding: 13px 0 13px 44px;
  display: inline-flex;
  align-items: center;
  gap: 9px;
}
.up { color: var(--green); font-style: normal; font-size: 9px; }
@keyframes scroll { to { transform: translateX(-50%); } }

/* ═══════════════ sticky bar ═══════════════ */
.stickybar {
  position: fixed;
  inset: 0 0 auto 0;
  z-index: 50;
  background: rgba(252, 252, 251, .86);
  -webkit-backdrop-filter: blur(12px);
  backdrop-filter: blur(12px);
  border-bottom: 1px solid var(--line);
  transform: translateY(-110%);
  transition: transform .35s cubic-bezier(.2, .7, .2, 1);
}
.stickybar.on { transform: translateY(0); }
.stickybar-in {
  display: flex;
  align-items: center;
  gap: 18px;
  padding-block: 10px;
}
.sb-name { font-size: 12.5px; letter-spacing: .06em; color: var(--ink); font-weight: 600; white-space: nowrap; overflow: hidden; text-overflow: ellipsis; min-width: 0; }
.sb-name em { color: var(--faint); font-style: normal; }
.sb-live { font-size: 11px; letter-spacing: .14em; color: var(--green-deep); display: inline-flex; align-items: center; gap: 7px; }
.stickybar .btn { margin-left: auto; white-space: nowrap; }
@media (max-width: 540px) {
  .stickybar-in { gap: 10px; }
  .sb-name { font-size: 11px; }
  .stickybar .btn-sm { padding: 8px 11px; font-size: 10.5px; }
}
@media (pointer: coarse) {
  .cdot { width: 38px; height: 38px; }
  .term-tel, .term-soc { padding: 10px 4px; margin: -10px -4px; }
}

/* ═══════════════ hero ═══════════════ */
.hero { padding: clamp(56px, 9vh, 104px) 0 0; }

.hero-top {
  display: flex;
  align-items: flex-start;
  justify-content: space-between;
  gap: 24px;
  margin-bottom: clamp(28px, 5vh, 48px);
}
.eyebrow {
  font-size: 12.5px;
  letter-spacing: .16em;
  color: var(--mut);
  padding-top: 10px;
}
.stamp {
  font-size: 13px;
  font-weight: 700;
  letter-spacing: .14em;
  color: var(--green-deep);
  background: var(--green-tint);
  border: 1.5px solid var(--green-line);
  outline: 1.5px solid var(--green-line);
  outline-offset: 3px;
  padding: 11px 18px;
  border-radius: 6px;
  rotate: 2.5deg;
  animation: stamp-in .5s cubic-bezier(.2, 1.4, .4, 1) .3s backwards;
}
@keyframes stamp-in {
  from { scale: 1.6; opacity: 0; rotate: 8deg; }
  to   { scale: 1;   opacity: 1; rotate: 2.5deg; }
}

.hero-grid {
  display: grid;
  grid-template-columns: 1fr auto;
  align-items: end;
  gap: 32px;
}
.name {
  font-family: var(--disp);
  font-size: clamp(3.2rem, 9.5vw, 7.2rem);
  font-weight: 700;
  letter-spacing: -.045em;
  line-height: .95;
  color: var(--ink);
}
.caret {
  display: inline-block;
  width: .09em;
  min-width: 5px;
  height: .78em;
  margin-left: .1em;
  background: var(--green);
  animation: blink 1.1s steps(1) infinite;
  vertical-align: baseline;
}
@keyframes blink { 50% { opacity: 0; } }

.tickerline { font-size: 13px; letter-spacing: .04em; color: var(--mut); margin-top: 26px; }
.tickerline b { color: var(--green-deep); }

.hero-meta {
  font-size: 12.5px;
  letter-spacing: .04em;
  color: var(--mut);
  text-align: right;
  display: grid;
  gap: 7px;
  padding-bottom: 6px;
}
.hero-meta b { color: var(--ink); font-weight: 600; }
.live { color: var(--green-deep); display: inline-flex; align-items: center; justify-content: flex-end; gap: 8px; }
.dot {
  width: 7px; height: 7px;
  background: var(--green);
  border-radius: 50%;
  display: inline-block;
  animation: pulse 1.8s ease-out infinite;
}
@keyframes pulse {
  0% { box-shadow: 0 0 0 0 rgba(22, 163, 74, .45); }
  70% { box-shadow: 0 0 0 8px rgba(22, 163, 74, 0); }
  100% { box-shadow: 0 0 0 0 rgba(22, 163, 74, 0); }
}
#price { font-weight: 600; color: var(--ink); font-variant-numeric: tabular-nums; }
#delta { font-variant-numeric: tabular-nums; transition: opacity .3s; }

/* cta */
.cta-row {
  display: flex;
  align-items: center;
  flex-wrap: wrap;
  gap: 14px;
  margin-top: clamp(28px, 4.5vh, 44px);
}
.btn {
  font-family: var(--mono);
  font-size: 13px;
  font-weight: 600;
  letter-spacing: .07em;
  text-decoration: none;
  color: #fff;
  background: var(--ink);
  padding: 15px 24px;
  border-radius: 10px;
  display: inline-flex;
  align-items: center;
  gap: 10px;
  cursor: pointer;
  transition: background .22s, transform .22s, box-shadow .22s;
}
.btn:hover {
  background: var(--green-deep);
  transform: translateY(-2px);
  box-shadow: 0 10px 24px -10px rgba(21, 128, 61, .5);
}
.btn:active { transform: translateY(0); }
.btn-ghost {
  background: transparent;
  color: var(--ink);
  border: 1px solid var(--line-2);
}
.btn-ghost:hover { background: var(--surface); border-color: var(--ink); color: var(--ink); box-shadow: none; }
.btn-sm { padding: 9px 16px; font-size: 11.5px; border-radius: 8px; }
.btn-inverse { background: #fff; color: var(--ink); }
.btn-inverse:hover { background: var(--green); color: #fff; }
.cta-note { font-size: 11.5px; color: var(--faint); letter-spacing: .05em; }

/* ═══════════════ chart ═══════════════ */
.chart { margin-top: clamp(40px, 7vh, 72px); }
.rule { border: none; border-top: 2.5px solid var(--ink); }
.chart-box { position: relative; margin-top: 10px; }
.chart-box svg { width: 100%; height: clamp(180px, 30vw, 280px); display: block; }
.linepath {
  stroke-dasharray: 2400;
  stroke-dashoffset: 2400;
  animation: draw 2.4s cubic-bezier(.5, 0, .2, 1) .4s forwards;
}
.areapath { opacity: 0; animation: fade .9s ease 1.6s forwards; }
@keyframes draw { to { stroke-dashoffset: 0; } }
@keyframes fade { to { opacity: 1; } }

.cdot {
  position: absolute;
  left: var(--x); top: var(--y);
  translate: -50% -50%;
  width: 26px; height: 26px;
  background: transparent;
  border: none;
  cursor: pointer;
  display: grid;
  place-items: center;
}
.cdot::after {
  content: "";
  width: 11px; height: 11px;
  background: var(--surface);
  border: 2.5px solid var(--green);
  border-radius: 50%;
  transition: scale .2s cubic-bezier(.2, 1.4, .4, 1), background .2s;
}
.cdot:hover::after, .cdot:focus-visible::after { scale: 1.45; background: var(--green-tint); }
.cdot.red::after { border-color: var(--red); }
.cdot.red:hover::after { background: var(--red-tint); }

.tip {
  position: absolute;
  font-size: 11.5px;
  letter-spacing: .04em;
  color: var(--ink);
  background: var(--surface);
  border: 1px solid var(--line-2);
  box-shadow: 0 8px 24px -8px rgba(13, 15, 12, .18);
  padding: 8px 12px;
  border-radius: 8px;
  pointer-events: none;
  opacity: 0;
  translate: -50% calc(-100% - 16px);
  transition: opacity .18s;
  white-space: nowrap;
  z-index: 5;
}
.tip.on { opacity: 1; }

.chart-hints {
  display: flex;
  justify-content: space-between;
  font-size: 11.5px;
  letter-spacing: .06em;
  color: var(--faint);
  padding-top: 12px;
  border-top: 1px solid var(--line);
  margin-top: 6px;
}

/* ═══════════════ sections ═══════════════ */
.sec { padding: clamp(64px, 11vh, 118px) 0 0; }
.sec-tint { background: transparent; }

.shead {
  display: flex;
  align-items: center;
  gap: 20px;
  margin-bottom: clamp(32px, 5vh, 52px);
}
.shead span {
  font-size: 12.5px;
  letter-spacing: .18em;
  color: var(--mut);
  white-space: nowrap;
}
.shead hr { flex: 1; border: none; border-top: 1px solid var(--line); }

/* 01 thesis */
.thesis {
  font-size: clamp(1.45rem, 2.9vw, 2.05rem);
  line-height: 1.5;
  letter-spacing: -.012em;
  color: var(--body);
  max-width: 900px;
}
.thesis mark {
  background: linear-gradient(transparent 62%, var(--green-tint) 62%);
  color: var(--ink);
  font-weight: 600;
  padding-inline: 2px;
  border-bottom: 2px solid var(--green);
}

/* 02 metrics */
.metrics {
  display: grid;
  grid-template-columns: repeat(4, 1fr);
  gap: 14px;
}
.m-card {
  grid-column: span 1;
  background: var(--surface);
  border: 1px solid var(--line);
  border-radius: var(--r);
  padding: 26px 24px 22px;
  transition: transform .25s cubic-bezier(.2, .7, .2, 1), border-color .25s, box-shadow .25s;
}
.m-card:hover {
  transform: translateY(-4px);
  border-color: var(--green-line);
  box-shadow: 0 16px 32px -18px rgba(21, 128, 61, .25);
}
.m-card.span2 { grid-column: span 2; }
.m-num {
  font-size: clamp(2rem, 3.4vw, 2.7rem);
  font-weight: 600;
  color: var(--ink);
  letter-spacing: -.02em;
  line-height: 1.1;
  font-variant-numeric: tabular-nums;
}
.m-num::after { content: " ▲"; color: var(--green); font-size: .45em; vertical-align: .45em; letter-spacing: 0; }
.m-unit { font-size: .6em; color: var(--mut); }
.m-label { font-size: 13.5px; line-height: 1.5; color: var(--mut); margin-top: 10px; }

/* 03 timeline */
.timeline {
  list-style: none;
  position: relative;
  padding-left: 34px;
  max-width: 820px;
}
.timeline::before {
  content: "";
  position: absolute;
  left: 7px; top: 8px; bottom: 8px;
  width: 2px;
  background: linear-gradient(var(--green-line), var(--green));
}
.timeline li { position: relative; padding-bottom: clamp(36px, 5vh, 52px); }
.timeline li:last-child { padding-bottom: 0; }
.timeline li::before {
  content: "";
  position: absolute;
  left: -34px; top: 6px;
  width: 12px; height: 12px;
  background: var(--surface);
  border: 2.5px solid var(--green);
  border-radius: 50%;
}
.timeline li.drawdown::before { border-color: var(--red); }
.t-meta { display: flex; align-items: center; gap: 12px; margin-bottom: 8px; }
.t-year { font-size: 12.5px; letter-spacing: .08em; color: var(--mut); }
.timeline h3 {
  font-family: var(--disp);
  font-size: clamp(1.25rem, 2.2vw, 1.55rem);
  font-weight: 700;
  letter-spacing: -.02em;
  color: var(--ink);
  margin-bottom: 6px;
}
.timeline p { font-size: 15.5px; color: var(--mut); max-width: 640px; }

/* chips */
.chip {
  font-family: var(--mono);
  font-size: 10.5px;
  font-weight: 600;
  letter-spacing: .09em;
  color: var(--green-deep);
  background: var(--green-tint);
  border: 1px solid var(--green-line);
  padding: 4px 9px;
  border-radius: 6px;
  white-space: nowrap;
}
.chip-red { color: var(--red); background: var(--red-tint); border-color: #F5C8C8; }
.chip-gray { color: var(--mut); background: #F2F2EE; border-color: var(--line-2); }
.chip-bronze { color: var(--bronze); background: var(--bronze-tint); border-color: #EFD9B4; }
.chip-solid { color: #fff; background: var(--green-deep); border-color: var(--green-deep); }

/* 04 positions */
.positions { display: grid; }
.pos {
  display: grid;
  grid-template-columns: 210px 1fr;
  gap: 28px;
  padding: clamp(26px, 3.5vh, 36px) 0;
  border-top: 1px solid var(--line);
  transition: background .2s;
}
.pos:last-child { border-bottom: 1px solid var(--line); }
.pos-l { display: flex; flex-direction: column; align-items: flex-start; gap: 10px; }
.pos-period { font-size: 12.5px; letter-spacing: .08em; color: var(--mut); }
.pos h3 {
  font-family: var(--disp);
  font-size: 1.3rem;
  font-weight: 700;
  letter-spacing: -.02em;
  color: var(--ink);
  margin-bottom: 12px;
  display: flex;
  align-items: baseline;
  gap: 12px;
  flex-wrap: wrap;
}
.pos-tag { font-size: 11px; font-weight: 500; letter-spacing: .08em; color: var(--faint); }
.pos ul { list-style: none; display: grid; gap: 7px; }
.pos li {
  font-size: 15px;
  color: var(--mut);
  padding-left: 20px;
  position: relative;
}
.pos li::before {
  content: "▸";
  position: absolute;
  left: 0;
  color: var(--green);
  font-size: 12px;
  top: 3px;
}

/* 05 results table */
.table-scroll { overflow-x: auto; border: 1px solid var(--line); border-radius: var(--r); background: var(--surface); }
.results { width: 100%; border-collapse: collapse; min-width: 640px; }
.results th {
  font-size: 10.5px;
  font-weight: 600;
  letter-spacing: .16em;
  text-transform: uppercase;
  color: var(--faint);
  text-align: left;
  padding: 16px 22px;
  border-bottom: 1px solid var(--line);
}
.results td {
  font-size: 13px;
  letter-spacing: .01em;
  color: var(--ink);
  padding: 16px 22px;
  border-bottom: 1px solid var(--line);
}
.results td:nth-child(2) { color: var(--mut); }
.results tbody tr:last-child td { border-bottom: none; }
.results tbody tr { transition: background .15s; }
.results tbody tr:hover { background: var(--bg); }

/* 06 fundamentals */
.fund {
  display: grid;
  grid-template-columns: repeat(4, 1fr);
  gap: clamp(28px, 4vw, 48px);
}
.f-col h4 {
  font-size: 11.5px;
  font-weight: 600;
  letter-spacing: .16em;
  text-transform: uppercase;
  color: var(--green-deep);
  padding-bottom: 12px;
  margin-bottom: 16px;
  border-bottom: 1px solid var(--line);
}
.f-col ul { list-style: none; display: grid; gap: 10px; }
.f-col li { font-size: 14.5px; color: var(--mut); line-height: 1.55; }
.f-col b { font-weight: 600; }

/* 07 photos */
.sec-photos .shead { margin-bottom: 36px; }
.strip {
  display: flex;
  gap: 18px;
  overflow-x: auto;
  padding: 4px clamp(20px, calc((100vw - 1120px) / 2 + 48px), 50vw) 24px;
  scroll-padding-inline: clamp(20px, calc((100vw - 1120px) / 2 + 48px), 50vw);
  scroll-snap-type: x proximity;
  cursor: grab;
  scrollbar-width: none;
}
.strip::-webkit-scrollbar { display: none; }
.strip.dragging { cursor: grabbing; scroll-snap-type: none; }
.strip figure {
  flex: 0 0 auto;
  scroll-snap-align: start;
  background: var(--surface);
  border: 1px solid var(--line);
  border-radius: var(--r);
  padding: 10px 10px 12px;
  transition: transform .3s cubic-bezier(.2, .7, .2, 1), box-shadow .3s, border-color .3s;
}
.strip figure:hover {
  transform: translateY(-6px) rotate(-.4deg);
  border-color: var(--green-line);
  box-shadow: 0 24px 44px -22px rgba(13, 15, 12, .3);
}
.strip img {
  display: block;
  height: 300px;
  width: auto;
  max-width: none;
  border-radius: 8px;
  user-select: none;
  -webkit-user-drag: none;
}
.strip figcaption {
  font-size: 11px;
  letter-spacing: .05em;
  color: var(--mut);
  padding: 11px 4px 0;
  display: flex;
  justify-content: space-between;
  gap: 18px;
}
.strip figcaption span { color: var(--faint); }

/* 08 risks */
.risks {
  display: grid;
  grid-template-columns: 1fr 1fr;
  gap: 14px 40px;
  max-width: 940px;
}
.risk, .mitigant {
  font-size: 13px;
  letter-spacing: .03em;
  color: var(--body);
  display: flex;
  align-items: baseline;
  gap: 12px;
}
.sq {
  width: 9px; height: 9px;
  background: var(--red-tint);
  border: 1.5px solid var(--red);
  flex: 0 0 auto;
  translate: 0 -1px;
}
.grn-sq { background: var(--green-tint); border-color: var(--green); }
.mitigant { margin-top: 26px; color: var(--green-deep); font-weight: 500; }

/* 09 term sheet */
.term {
  background: var(--ink);
  color: #E8EAE6;
  border-radius: 24px;
  padding: clamp(40px, 7vw, 80px);
  position: relative;
  overflow: hidden;
}
.term::before {
  content: "";
  position: absolute;
  inset: auto -20% -60% auto;
  width: 70%;
  aspect-ratio: 1;
  background: radial-gradient(circle, rgba(22, 163, 74, .22), transparent 65%);
  pointer-events: none;
}
.term-eyebrow { font-size: 12px; letter-spacing: .18em; color: #7C837C; margin-bottom: 22px; }
.term h2 {
  font-family: var(--disp);
  font-size: clamp(2.6rem, 6.5vw, 4.6rem);
  font-weight: 800;
  letter-spacing: -.04em;
  line-height: 1;
  color: #fff;
}
.term-sub { font-size: 16.5px; color: #A9AFA8; max-width: 560px; margin-top: 18px; }
.term-ctas { display: flex; align-items: center; flex-wrap: wrap; gap: 22px; margin-top: 36px; }
.term-tel { font-size: 14px; color: #E8EAE6; text-decoration: none; letter-spacing: .05em; border-bottom: 1px solid #3A3F3A; padding-bottom: 3px; transition: border-color .2s, color .2s; }
.term-tel:hover { color: var(--green); border-color: var(--green); }
.term-socials { display: flex; align-items: center; flex-wrap: wrap; gap: 26px; margin-top: 26px; }
.term-soc {
  font-size: 13px;
  letter-spacing: .05em;
  color: #A9AFA8;
  text-decoration: none;
  display: inline-flex;
  align-items: center;
  gap: 9px;
  transition: color .2s;
}
.term-soc svg { display: block; }
.term-soc:hover { color: var(--green); }
.term-meta { font-size: 11.5px; letter-spacing: .08em; color: #7C837C; margin-top: 34px; }

/* footer */
.footer { padding: 44px 0 40px; }
.footer-in {
  display: flex;
  justify-content: space-between;
  align-items: flex-end;
  gap: 24px;
  font-size: 11.5px;
  line-height: 1.8;
  letter-spacing: .04em;
  color: var(--faint);
  border-top: 1px solid var(--line);
  padding-top: 28px;
}

/* ═══════════════ reveal ═══════════════ */
.js .reveal {
  opacity: 0;
  transform: translateY(16px);
  transition: opacity .7s cubic-bezier(.2, .7, .2, 1), transform .7s cubic-bezier(.2, .7, .2, 1);
}
.js .reveal.in { opacity: 1; transform: none; }
@media print { .js .reveal { opacity: 1; transform: none; } }

/* ═══════════════ responsive ═══════════════ */
@media (max-width: 900px) {
  .metrics { grid-template-columns: repeat(2, 1fr); }
  .fund { grid-template-columns: repeat(2, 1fr); }
  .pos { grid-template-columns: 1fr; gap: 14px; }
  .pos-l { flex-direction: row; align-items: center; gap: 14px; }
}
@media (max-width: 640px) {
  .hero-grid { grid-template-columns: 1fr; align-items: start; }
  .hero-meta { text-align: left; }
  .live { justify-content: flex-start; }
  .hero-top { flex-direction: column-reverse; align-items: flex-start; gap: 20px; }
  .stamp { rotate: -2deg; align-self: flex-end; }
  .metrics { grid-template-columns: 1fr 1fr; gap: 10px; }
  .m-card.span2 { grid-column: span 2; }
  .m-card { padding: 20px 16px 16px; }
  .fund { grid-template-columns: 1fr; }
  .risks { grid-template-columns: 1fr; }
  .strip img { height: 230px; }
  .footer-in { flex-direction: column; align-items: flex-start; }
  .sb-live { display: none; }
}

/* ═══════════════ reduced motion ═══════════════ */
@media (prefers-reduced-motion: reduce) {
  html { scroll-behavior: auto; }
  .marquee-track { animation: none; }
  .marquee { overflow-x: auto; }
  .linepath { animation: none; stroke-dashoffset: 0; }
  .areapath { animation: none; opacity: 1; }
  .caret, .dot, .stamp { animation: none; }
  .js .reveal { opacity: 1; transform: none; transition: none; }
  .m-card, .strip figure, .btn { transition: none; }
}