Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

Wednesday, January 2, 2019
Quants: Point-in-Time Data for Backtesting

Friday, December 28, 2018
Now Showing: Controls & Procedures

Thursday, December 27, 2018
A Reminder on Non-GAAP Reporting Rules

Monday, December 17, 2018
Researching PG&E’s Wildfire Risk

Wednesday, December 12, 2018
Tracking Brexit Disclosures

Thursday, December 6, 2018
Campbell Soup: Looking Behind the Label

Sunday, December 2, 2018
SEC Comment Letters: The Amazon Example

Wednesday, November 28, 2018
Measuring Big Pharma’s Chemical Dependency

Monday, November 26, 2018
Analysts, Can You Relate? A True Story

Monday, November 19, 2018
Digging Up Historical Trend Data: Quest Example

Sunday, November 11, 2018
Cost of Revenue, SG&A: Q3 Update

Monday, November 5, 2018
Lease Accounting: FedEx vs. UPS

Saturday, November 3, 2018
New Email Alerting Powers

Wednesday, October 31, 2018
PTC and Two Tales of Revenue

Tuesday, October 30, 2018
10-K/Q Section Text Change Detection

Sunday, October 28, 2018
Finding Purchase Price Allocation

Sunday, October 21, 2018
Charting Netflix Growth in Three Ways

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When the SEC has questions or problems with a company’s filing, it sends a ‘comment’ letter (often times including insightful information), to which the company must then respond. At least 20 days after this review is concluded, the correspondence becomes public. The letters are posted to EDGAR, using document types “UPLOAD” for the letters, and “CORRESP” for the responses.

These letters, however, are a bit hard to find and difficult to follow along in sequence.

Problem solved! You can now read these full correspondence chains using our interactive disclosure tool.

1) Pick a company.

2) Hit the ‘All History’ button near the top right of your screen.

3) Scroll to “SEC Comment Letters & Responses”

Now you can read along each chain in order.

Why should you care?

For investors this can be critical information. Here’s a recent example, involving Yahoo’s search agreement with Mozilla. That agreement was excluded from company filings, but turned out to be important during the company’s sale.

More here from last week’s New York Times:

“Yahoo decided the contract’s provisions were not significant enough to disclose to shareholders, despite a series of letters last year from the Securities and Exchange Commission asking the company to lay out the terms of the agreement and the risks to Yahoo. A spokeswoman for the agency declined to comment on the dispute.”

In other words, if you hadn’t read the letters, you wouldn’t have known….

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