This afternoon I took the first of three free webinars run by Michelle Leder of footnoted. I’ve poked around in the filings on the SEC website, but found all the documents to be very onerous and lengthy. The short of it was that my eyes glazed over in horror when I saw them Now, after Michelle’s class, I have a clearer picture on what to look for in a 10-K annual report and fell like the research task isn’t that bad after all.
The trick is how to leverage the unstructured information into a text mining model because the changes in filings can really be subtle from one period to another. The language changes from one industry to the next and any model that needs to be built is going to be sector/industry specific. From what I learned this afternoon, building a model is going to be trickier that I first assumed, so I’ll have to continue to brainstorm this.