Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

docdelta.ca

Post reply on HN
Print view View original

51–59 of 59 posts

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

#51

Post by polytroposphere »

myhau wrote: post #49
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

Not at all, I’m inclined to agree with the commenter. If you work in the industry you can immediately pick up a few problems.

1) SEC filings are largely useless. For earnings, funds typically look at the press release that companies put out. 10-Qs and Ks are sometimes released days or weeks after earnings are already out. You could potentially trade on filings that disclose insider share transactions but these are largely noise.

2) Setting all that aside, who exactly is buying this? Citadel/P72/all the other institutional investors have entire teams of data scientists. I’d be surprised if they didn’t have similar tools already with better functionality. Maybe this picks up steam with the retail crowd, but I doubt any average investor is going to have a trading system that can take advantage of this.

There’s just limited practicality and an even more limited customer base. Even if this were free, Im not sure I would have much use for it

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

#52

Post by sprobertson »

gregdoesit wrote: post #39
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…

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…

Wow $6000/month for a $500/month subscription is a bad deal!

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

#53

Post by lallysingh »

sprobertson wrote: post #52
gregdoesit wrote: post #39

Earlier quoted context omitted.

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…

Wow $6000/month for a $500/month subscription is a bad deal!

5*12=60, so assume $6k/yr.

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

#55

Post by supplied_demand »

Congrats on the release! I really like what you've done here. Making existing professional trading tools more accessible is a great path.

I'm especially intrigued by the use of AI to analyze the Risk Factors section. I've been working on a tool to SaaS increase sales by combing through 10-K Risk Factors and seeing which companies, industries, markets make the best sales targets. It becomes a matching algorithm between the value levers of the SaaS solution and the needs expressed in the Risk Factors section.

Do you have any plans to incorporate economic data from the monthly releases by BLS, BEA, Census, Federal Reserve, etc.?

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

#56

Post by Kiro »

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.

Sounds like you are the one suffering from Dunning-Kruger. Just check out one of the reports and you will see that it's lots more than just "sentiment analysis", and much more dynamic.

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

#57

Post by donavanm »

Etheryte wrote: post #45
instalabs wrote: post #37

Earlier quoted context omitted.

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.

Ive heard many variations of this along the lines of pennies and steam rollers. Yes, you have to have positive EV across the strategy. And just about everyone makes money when times are good, or theres volatility that matches your strategy, or your pods null out a bunch of factors.

But to survive long term you have to _not fail_ in a very repeatable and consistent manner. Long term success is risk and downside management.

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

#59

Post by docdeltaneer »

supplied_demand wrote: post #55

Congrats on the release! I really like what you've done here. Making existing professional trading tools more accessible is a great path. I'm especially intrigued by the use of AI to analyze the Risk Factors section. I've been working on a tool to SaaS increase sales by combing through 10-K Risk Factors and seeing which companies, industries, markets make the best sales targets. It becomes a matching algorithm betwee…

A bit late, but thank you for this comment. Appreciate the feedback. The features are actively expanding. Currently we have added 8K's and Form-4s, for handling SEC filings coverage. As our userbase grows alongside their feature requests and analysis presents new data points worth investing into we will increase the scope on a bang for buck basis.
Post reply on HN