Audio 10-Ks
Hey guys,
Wanted to bounce an idea off of you and see if there is an actual gap/need for this in the market or if its just me that would use it.
Would a iPhone app service that allows you to listen to audio 10-Ks read by professional voice actors in an upbeat, engaging tone interest you? Obviously Financial tables will not be read but they will be referenced in the audio such as "P/L displayed in this section.. Continuing with MD&A and risk factors"
Similar to the app Umano that reads news articles to you using professional voice actors.
I know for the serious professionals here this is probably a minimal value add, but maybe for college students or analysts that process information quicker through audio or want to get through the qualitative portions of the 10-Ks while driving/at the gym, and then get to the statements when they get home.
Let me know. Thanks!
I can't speak for everyone, but I prefer it on paper because I can highlight if needed. Some people could listen and take quick notes, I'm sure.
I would also say it wouldn't be very useful. Generally when I'm glancing through a 10-k I'm looking for something and I'm really not looking to waste too much time with it as I have other stuff to do. Also, and maybe this is a function of my cynicism at this point, but listening to 10-k's would be akin to waterboarding and should only be done at Gitmo. My ears would literally start to bleed if I had to listen to someone to read through out loud much of the fluffy nonsense in the MD&A.
To Junior's point about looking for something quickly, I do use Ctrl + F a lot to quickly find information on 10-Ks. You couldn't do that with audio.
Personally, I would never use an audio 10-k. A 10k-k is something you need to scroll through and analyse rigorously. It is not comparable to reading a storybook, for which audiobooks are commonly used.
I find audio to be good to passive listening, such as fiction/history etc. Where the information is important and you do want to pick it up, but you don't really need to digest it and store it away for later recall.
Deep recall is definitely for reading. However despite this I think there is a market for it. I'm always looking to up my 10-k consumption, and if i was given to chance to passively listen to a company that catches my eye but doesn't deserve a deep dive yet... Would totally leap at this.
Next question though: how would you go through the financials? Are these going to be edited out? Thats like the meat and potatoes. As well as going through figures such as shares, options, etc.
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