Prompt Portfolios: Manage a Basket, Not a Single Best Prompt
Most production AI teams talk about prompts the way junior traders talk about stocks: there is one best one, and the job is to find it. So they iterate — a Slack thread, a few eval rows, a new winner, push to main, repeat. The result is a single artifact carrying the entire intent-resolution surface of the product, optimized against a frozen evaluation set, sitting one regrettable edit away from a P1.
The mistake is the singular. A prompt is not a security; it is an allocation. The same user intent can be served well by several variants, each with its own confidence interval, its own per-segment performance, and its own sensitivity to model and corpus drift. The right mental model is not "find the best prompt" — it is "manage a basket of prompts whose composition is itself the product." Quantitative finance figured this out fifty years ago, and the operational machinery transfers almost without modification.
