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

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

#41

Post by bdefig »

Etheryte wrote: post #38
bdefig wrote: 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.

That's exactly what I'm saying. If you've got something novel/hard to replicate, it's a no-brainer for them to pick up at any price. If not, that's good to know too.

Btw, Coca-Cola bought Minute Maid Lemonaide in 1960. :)

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

#42

Post by Etheryte »

Kiro wrote: post #40
Etheryte wrote: post #38

Earlier quoted context omitted.

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.

This is a good example of Dunning-Kruger, no offense. Sentiment analysis has been used as a tool to guide investments since the late 90s and there are companies out there who have been doing it for decades. LLMs didn't really break any new ground here, they just made this more accessible for the masses.

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

#44

Post by GoldenMonkey »

instalabs wrote: post #37
bdefig wrote: 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.

Let's do it :)

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

#45

Post by Etheryte »

instalabs wrote: post #37
bdefig wrote: 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.

I think you might be slightly misunderstanding why you're struggling to sell. In finance, correctness matters. A tool that's mostly right most of the time, but radically incorrect sometimes is a very hard sell when there's battle tested and well understood boring tools out there that do the same thing.

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

#46

Post by addicted »

instalabs wrote: post #37
bdefig wrote: 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.

> there's big alpha to be had in starting a hedge fund that simply embraces AI.

Maybe hedge funds are completely out of step with the rest of the finance world, but much of finance has been using AI for a long time. AI is old news at this point.

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

#47

Post by petesergeant »

Etheryte wrote: post #42
Kiro wrote: post #40

Earlier quoted context omitted.

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.

This is a good example of Dunning-Kruger, no offense. Sentiment analysis has been used as a tool to guide investments since the late 90s and there are companies out there who have been doing it for decades. LLMs didn't really break any new ground here, they just made this more accessible for the masses.

> Sentiment analysis has been used as a tool ... since the late 90s

Yes!

> LLMs didn't really break any new ground here

I don't think this is true. LLMs are a gigantic leap forward from any traditional sentiment analysis I've seen. Pre-2013, bag-of-words and TF-IDF were still state of the art. Call me out if you think I'm wrong, but hand-waving away the transformative power of LLMs here because we had some sentiment analysis approaches before seems unfair.

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

#48

Post by mschuster91 »

bko wrote: post #30
jebarker wrote: 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?

Unfortunately much of earnings responses is written after the fact. If the stock price goes up you can point to some positive parts. If it goes down, you can point to some negative parts. I see that all the time. "Earnings beat estimates but analysts were worried about declining growth in app related earnings and looming regulatory threats". Sometimes they even switch! The stock goes up, reporters write their pieces,…

> I'm reminded of the headline "More than 16M Americans have lost jobs in 3 week, dow's best week since 1938"

That's likely a significant contributor behind the November election results in the US and across Western countries in general. People aren't dumb, they spot through politicians and media claiming "good economy numbers" while their own paychecks don't come close to keeping up with inflation.

The economy numbers may be at record highs, but way too much of the wealth ends up in the pockets of a very select few.

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

#49

Post by myhau »

ezero wrote: 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…

This has similar vibes to The Infamous Dropbox Comment:

https://news.ycombinator.com/item?id=9224

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

#50

Post by robertlagrant »

mschuster91 wrote: post #48
bko wrote: post #30

Earlier quoted context omitted.

Unfortunately much of earnings responses is written after the fact. If the stock price goes up you can point to some positive parts. If it goes down, you can point to some negative parts. I see that all the time. "Earnings beat estimates but analysts were worried about declining growth in app related earnings and looming regulatory threats". Sometimes they even switch! The stock goes up, reporters write their pieces,…

> I'm reminded of the headline "More than 16M Americans have lost jobs in 3 week, dow's best week since 1938" That's likely a significant contributor behind the November election results in the US and across Western countries in general. People aren't dumb, they spot through politicians and media claiming "good economy numbers" while their own paychecks don't come close to keeping up with inflation. The economy numbe…

> The economy numbers may be at record highs, but way too much of the wealth ends up in the pockets of a very select few.

It's not that at all. Things like Russia spending all its money on the war effort boosts GDP, but doesn't help prices in the long term. The measures often don't measure costs, other than inflation.

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