When running an analysis on multiple companies that might be of potential interest, going through the SEC filings is the most important yet most time consuming part of the process.
10Ks and 10Qs can go from 50 to hundreds of pages depending on the size of the target company.
Anyone has tips on how to go through reports quickly while extracting the essential information? or something like a quick checklist that one can follow?
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http://www.wallstreetoasis.com/forums/anatomy-of-the-10-k
Go to a table of contents on the 10-k to skip to the financial statement and exhibits section to get a quick read on what the full year financials look like, the go to the most recent 10-q to see the interim and all other needed data without the bs clutter that is usually in a 10-k
How do you read the MD&A section? Are you usually skeptic of that the Management has to say about their own work?
Depends on the management team, some I ignore some are ok.
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