June 23, 20250CommentsDon’t Be Misled by Flawed MetricsThe only way to truly understand the health of the underlying business of a company is to go through the footnotes in the filings. by Hakan Salt, Associate Investment Analyst
May 30, 20250CommentsICYMI: New Long Idea, FREE Stock Pick, Earnings Watch Replay, Beware Fake Dividends, The Importance of Footnotes, Focus List Stocks: Long Updates and Position Closes, Model Portfolio Updates & MoreHere's what happened at New Constructs during the week of May 26, 2025. by Hakan Salt, Associate Investment Analyst
May 29, 20250CommentsWhy Footnotes Are More Important Than You ThinkData in the financial statements is most meaningful when you consider the information in the footnotes. by Hakan Salt, Associate Investment Analyst
May 21, 20250Comments1Q25 Footnotes Season: Created $2.5 Million in ValueDuring 1Q25 footnotes season, we parsed 2,805 10Q and 10K filings and created $2,524,500 of value for clients. by Kyle Guske II, Senior Investment Analyst, MBA
April 4, 20250Comments4Q24 Footnotes Season Recap: Created $2.1 Million in ValueDuring 4Q24 Footnotes Season, our Robo-Analyst helped us make 38,492 Core Earnings, balance sheet, and valuation adjustments worth $21.8 trillion. by Kyle Guske II, Senior Investment Analyst, MBA
March 26, 20250CommentsAn Undervalued Gem Upgraded During 10-K Filing SeasonThis week’s Filing Season Finds report highlights a Technology company for understating its profits by $164 million (12% of GAAP earnings) by Kyle Guske II, Senior Investment Analyst, MBA
March 19, 20250CommentsOverstated Profits and an Expensive Valuation Lead to an Unattractive Stock RatingThis week’s Filing Season Finds report highlights Venture Globa for overstating its profits by $365 million (25% of GAAP earnings). by Kyle Guske II, Senior Investment Analyst, MBA
March 11, 20250CommentsHidden Data in 10-K Helps This Stock Get our Very Attractive RatingThis week’s Filing Season Finds report highlights Merck & Co. (MRK) for understating its profits by $1.3 billion (8% of GAAP earnings). by Kyle Guske II, Senior Investment Analyst, MBA
March 5, 20250CommentsHidden Profits During 10-K Filing Season Don’t Always Lead to a Good StockThis week’s Filing Season Finds report highlights AstraZeneca (AZN) for understating its profits by $1.1 billion (16% of GAAP earnings) by Kyle Guske II, Senior Investment Analyst, MBA
February 27, 20250CommentsUncovering Hidden Profits During 10-K Filing SeasonThis week’s Filing Season Finds report highlights Pilgrim’s Pride (PPC) for understating its profits by $283 million and its cheap stock valuation. by Kyle Guske II, Senior Investment Analyst, MBA
March 28, 20240Comments10-K Filing Season 2024 Recap: The Worst Red Flags In the FootnotesDuring the Real Earnings Season our Robo-Analyst analyzed 2,314 10-K and 10-Q filings and collected 263,722 data points. by Kyle Guske II, Senior Investment Analyst, MBA
March 20, 20240CommentsFinding Hidden Gems in the Footnotes to Understand True Profits During 10-K Filing SeasonThis week’s Filing Season Finds report highlights how hidden and reported unusual items can understate true profits. by Kyle Guske II, Senior Investment Analyst, MBA
March 13, 20240CommentsRed Flags in the Footnotes From 10-K Filing SeasonThis week’s Filing Season Finds report highlights how hidden and reported unusual items can materially overstate true profits. by Kyle Guske II, Senior Investment Analyst, MBA
March 7, 20240CommentsThe Magnitude of the ProblemIf everyone is relying on bad research, then does it do an investor any good to use better research? by David Trainer, Founder & CEO
March 6, 20240CommentsGetting the Footnotes Data to Calculate Core Earnings During 10-K Filing SeasonThis week’s Filing Season Finds report highlights how hidden and reported unusual items can materially understate true profits. by Kyle Guske II, Senior Investment Analyst, MBA
February 28, 20240CommentsUncovering Hidden Value During 10-K Filing SeasonThis week’s Filing Season Finds report highlights Cummins Inc. (CMI) for its profits being understated and its cheap stock valuation. by Kyle Guske II, Senior Investment Analyst, MBA
February 16, 20240CommentsThe Real Earnings Season Starts Now: Time to Read Filings & Footnotes 2024Quarterly earnings season may be winding down, but the real earnings season – annual 10-K filing season – is ramping up. by Kyle Guske II, Senior Investment Analyst, MBA
March 17, 20230CommentsICYMI: New Long Idea, The Next Zombie Stock, More 10-K Season Revelations & Model Portfolio UpdatesHere's what happened at New Constructs this past week. by Kyle Guske II, Senior Investment Analyst, MBA
March 15, 20230CommentsRed Flags in the Footnotes – 10-K Filing Season 2023 RecapDuring the Real Earnings Season, our Robo-Analyst analyzed 1,852 10-K and 10-Q filings, from which we collected 258,477 data points. by Kyle Guske II, Senior Investment Analyst, MBA
March 9, 20230CommentsHolding Management Accountable & More Insights from the Real Earnings SeasonWe found interesting footnote disclosures in the filings of Teladoc, Rivian, Lucid and other companies during The Real Earnings Season. by Kyle Guske II, Senior Investment Analyst, MBA