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Companies hide negative news with unrelated press releases alongside SEC filings

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Re: Companies hide negative news with unrelated press releases alongside SEC filings

#11

Post by est31 »

breput wrote: post #6
dpflan wrote: post #2

How can a lay-person investor get as-soon-as-possible access to recently filed form 8-K? What's the gate and delay time?

This is practically real time: https://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=&type=... also available as an RSS/Atom format feed: https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent&C... There is also a paid-for service called PDS ( https://www.sec.gov/oit/announcement/public-dissemination-se... ) which isn't necessarily any faster but can be more reliable.

Your first two links don't push the message though, so you have to keep refreshing the site quickly.

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#12

Post by boringg »

nico wrote: post #10

Will at any point we be able to build a system that won’t be gamed? ie. A system whose incentives are perfectly aligned with its operators and users incentives?

Never. We are humans - humans are by our very nature dynamic.

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#13

Post by TylerE »

est31 wrote: post #11
breput wrote: post #6

Earlier quoted context omitted.

This is practically real time: https://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=&type=... also available as an RSS/Atom format feed: https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent&C... There is also a paid-for service called PDS ( https://www.sec.gov/oit/announcement/public-dissemination-se... ) which isn't necessarily any faster but can be more reliable.

Your first two links don't push the message though, so you have to keep refreshing the site quickly.

Push is expensive (in volume) so it’s not really surprising they don’t offer it for free.

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#14

Post by throwaway50603 »

TylerE wrote: post #13
est31 wrote: post #11

Earlier quoted context omitted.

Your first two links don't push the message though, so you have to keep refreshing the site quickly.

Push is expensive (in volume) so it’s not really surprising they don’t offer it for free.

Isn't it more expensive to have many people poll frequently?

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#15

Post by breput »

est31 wrote: post #11
breput wrote: post #6

Earlier quoted context omitted.

This is practically real time: https://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=&type=... also available as an RSS/Atom format feed: https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent&C... There is also a paid-for service called PDS ( https://www.sec.gov/oit/announcement/public-dissemination-se... ) which isn't necessarily any faster but can be more reliable.

Your first two links don't push the message though, so you have to keep refreshing the site quickly.

If that is a problem and it is worth it to you, you pay for PDS - https://www.sec.gov/info/edgar/pds-new-subscriber-040819.pdf

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#16

Post by 317070 »

xwdv wrote: post #9
dpflan wrote: post #2

How can a lay-person investor get as-soon-as-possible access to recently filed form 8-K? What's the gate and delay time?

Before you think about making something that quickly reads 8-K filings and acts upon it: don’t bother. A bunch of entities are already doing this way faster than you ever can through various methods and by the time you get the data the opportunity to act is gone.

I believe the current SOTA is to submit trades in the order of 10ms after the document is available online. In that time they downloaded the file, ran sentiment analysis on it and ran the numbers, decided which way to go and sent the trades to the market.

It's worth every penny to be first, but unless you have a lot of pennies, you won't be first.

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#17

Post by gadflyinyoureye »

throwaway50603 wrote: post #14
TylerE wrote: post #13

Earlier quoted context omitted.

Push is expensive (in volume) so it’s not really surprising they don’t offer it for free.

Isn't it more expensive to have many people poll frequently?

Might not. Caching plus nginx would allow pretty decent performance. Not sure how expensive misses would be.

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#19

Post by neilv »

xwdv wrote: post #9
dpflan wrote: post #2

How can a lay-person investor get as-soon-as-possible access to recently filed form 8-K? What's the gate and delay time?

Before you think about making something that quickly reads 8-K filings and acts upon it: don’t bother. A bunch of entities are already doing this way faster than you ever can through various methods and by the time you get the data the opportunity to act is gone.

Despite being a Boglehead (total-market index investor), who thinks that's the best tablescraps I can get, when I can't be in the club of the people who're making the real money from the systems...

I have idly wondered whether there's an viable opportunity to exploit retail investors who're being manipulated/misled (by, e.g., MSM financial 'news', stock-picker personalities, bloggers, WSB, etc.).

Then I realize I was considering actively profiting off the misery of other retail investors, and decide to just stick to my index funds.

Re: Companies hide negative news with unrelated press releases alongside SEC filings

#20

Post by breput »

throwaway50603 wrote: post #14
TylerE wrote: post #13

Earlier quoted context omitted.

Push is expensive (in volume) so it’s not really surprising they don’t offer it for free.

Isn't it more expensive to have many people poll frequently?

The entire public sec.gov site, including filing data, is served from the Akamai CDN.

But there is also an AUP (https://www.sec.gov/os/accessing-edgar-data) which limits the number of requests per second, which in reality is quite a bit less than is documented.

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