Live data from Hacker News

Show HN: I built an AI tool to analyze SEC filings the minute they're released

docdelta.ca

31–40 of 59 posts

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#31
post #4

Naive question here: wouldn't the upside of keeping this secret and trading on it's output yourself far exceed what you can make in subscriptions?

These releases usually happen after trading hours, so instant analysis isn't super helpful for making trades.

Plenty of after hours trading happens around these releases so there’s certainly the potential for them to be useful to people engaging in that trading.

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#32
post #24
post #4

Naive question here: wouldn't the upside of keeping this secret and trading on it's output yourself far exceed what you can make in subscriptions?

Typically, you won't be able to make any trades for hours after the info is released anyway.

Not true. I can’t speak to the situation in the US but, in the UK, there are certainly platforms that enable after hours trading on US markets even for retail traders.

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#33
post #29

I like seeing trading tools released. Kudos. Barriers are falling, fees and such. APIs popping up and interest in markets growing. I'd be bullish on retail trading and its healthy future.

If you mean that retail trading volume and opportunities to make money from it have a healthy future then I agree. But if you mean that retail traders themselves have a good outlook, in the sense that they will end up with more money overall than if tools and access were more limited, I couldn't disagree more. Retail stock traders have a terrible track record overall, and bits of additional market information here or there will do nothing to change that. Increased access to trading results in amateurs having less money.

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#36
post #35

Have you tried selling to high-frequency traders / hedge funds? If they bite, it's probably not even worth having a low-cost/self-serve tier.

I’d guess they’re already using this signal and if not they’d be more likely to do it at competitively high speed and internally, where they can control and iterate? Maybe crypto HFT since that’s a big more sluggish.

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#37
post #35

Have you tried selling to high-frequency traders / hedge funds? If they bite, it's probably not even worth having a low-cost/self-serve tier.

I'm in the business of selling AI tools to high-frequency traders / hedge funds and the bad news is that, most of them are so risk averse and/or technically illiterate that sometimes we joke that there's big alpha to be had in starting a hedge fund that simply embraces AI.

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#38
post #35

Have you tried selling to high-frequency traders / hedge funds? If they bite, it's probably not even worth having a low-cost/self-serve tier.

Everyone who is anyone in the finance space has been doing stuff like this since way before LLMs were a thing, and they've put a lot of time and effort into their tools. This suggestion is kind of like saying you should try to sell your lemonade stand to Coca-Cola.

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#39
post #28

You are charging way too much and offering too little. $29/month to track 15 companies, $89 to track 50, and "Contact sales" for unlimited. The "AI Analysis" you have is too brief and doesn't tell me anything useful as an investor. Compare this to what https://quartr.com/products/quartr-core is offering for $20/month. I know how difficult it is to build a tool like this and you've done a decent job. Just doesn't make…

As someone who was a paid customer of Quartr: they do not offer the ability to look or search actual filings at the $20/month plan. Full text search starts from $500/month, and is an annual contract (so $6,000/month.)

Pricing for these services is not cheap, given it can be very helpful for professional traders.

(I’m no professional trader, and not even a trader. I just sometimes want to search for interesting things in transcripts, when I research a topic. I would pay for a decent service offering full text search for transcript search, to use it a few times per month (or perhaps even less frequently). Still not found a product that does it at a sensible price point for my use case - likely because my use case is not worth building a business on.)

Re: Show HN: I built an AI tool to analyze SEC filings the minute they're released

#40
post #35

Have you tried selling to high-frequency traders / hedge funds? If they bite, it's probably not even worth having a low-cost/self-serve tier.

Everyone who is anyone in the finance space has been doing stuff like this since way before LLMs were a thing, and they've put a lot of time and effort into their tools. This suggestion is kind of like saying you should try to sell your lemonade stand to Coca-Cola.

This is not possible without LLMs. The interesting stuff is not the numbers but the soft values and insights. Go check out the example reports.

With that said, I agree that hedge funds probably already have their own internal versions of this.

Post reply on HN