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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Friday’s (8/1) edition of the Wall Street Journal carried an article entitled Record Cash, Record Debt   by Ted Mann and Theo Francis.  The authors worked with Calcbench in order to obtain data for their article.  Included in the dataset were Unremitted Foreign Earnings and Debt levels across the entire US filing universe. 

The objective of the authors was to identify firms with increasing overseas earnings and increasing debt levels.  The results are fairly straightforward, defer taxes on overseas earnings, borrow cheaply against the overseas earnings, invest where you can make more, and as an added kicker, take a deduction on the interest paid on the debt.  It looks like a corporate win-win.  Francis and Mann found more than 200 US firms used this technique effectively in 2013 (Francis, Mann, WSJ).

Firms and investors have been executing carry trades like this forever, but using tagged financials will help identify patterns more quickly.  This in turn moves away from anecdotal evidence into the realm of hard fact.  Anyone with the remotest of interest in economics or finance should be running to get at this information. 

Why did the authors at one of the most prestigious newspapers in the world come to Calcbench?  They couldn’t get the data anywhere else. 

The takeaway for users is that just like our friends at the WSJ used Calcbench, so can you.  Sign up today!

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