A company you passed on that still exists, still grows, and may now fit the thesis you actually hold — but lives in a folder, so none of that reaches you. Passing is not deleting. In Scout, Watching and Passed stay in the book, still scored.

What is the difference between Watching and Passed?

Watching is for “doesn’t fit today, plausibly later.” Passed is a no you recorded. Both stay in the book, still scored. Neither is a trash folder. Record the reason for the pass — a no without a reason cannot be re-opened honestly.

Does rescoring turn old passes into buys?

No. Most will stay nos. The point is that the ones that moved are findable. Rescoring is the same model, versioned, run again — not a promise and not a CRM stage rename.

Which plans include retroactive rescoring?

Boutique and Institutional. Solo does not. When the strategy or Knowledge Base changes, rescoring the Watching/Passed pile is the cheap source of proprietary names. Portfolio does the same for names you already own: rescore holdings against the current thesis.

Your old no is not always still a no.

Passing on a company is not the same as deleting it. Sectors move, the company grows, and your thesis moves. If the pass lives in a folder, none of that reaches you. That is the buried no.

What a pass actually is

In Misano Scout the funnel is explicit: New → Watching → Shortlist → Due Diligence, then Passed / Portfolio / Exit.
Watching is for “doesn’t fit today, plausibly later.” Passed stays in the book, still scored. Neither is a trash folder.
Record the reason for the pass. A no without a reason cannot be re-opened honestly.

Why the pile compounds against you

A company you screened two years ago may now fit the thesis you actually hold. Nothing in a PDF pile tells you that.
The homepage names this as one of three costs of a small dealflow: the screening tax, curated inbound, and the buried no.

What rescoring does

Score everything with the same model, derived from the strategy (teaser PDF or a 200–10,000 character brief). Five dimensions, 0–100, plus Strategy Fit as a separate axis — not folded into the Score. How the Score is computed: misano.ai/guides/how-the-score-is-computed. Pipeline stages and scoring: misano.ai/guides/deal-pipeline-and-scoring.
When the strategy or Knowledge Base changes, rescoring the Watching/Passed pile is the cheap source of proprietary names. Boutique and Institutional plans include retroactive rescoring; Solo does not.
Portfolio has the same idea for names you already own: rescore holdings against the current thesis. The thesis you bought at is not automatically the thesis you hold at.

What this is not

Not a promise that old passes become buys. Most will stay nos. The point is that the ones that moved are findable.
Not a CRM stage rename. The value is the same model, versioned, run again.

Get started at https://app.misano.ai/login. From €39/month billed annually, 14-day money-back, no sales call.

See also: misano.ai/guides/deal-pipeline-and-scoring, misano.ai/guides/how-the-score-is-computed, and misano.ai/guides/search-reads-websites-not-nace-codes.