Via WSJ.com
Article explains research that takes SEC filings from 1994 to 2014, uses textual analysis to apply a similarity score from one filing to the next and a comparison of stock performance found companies with changes to their risk disclosures significantly underperformed the market.
I’ve been using python to download SEC filings with the intent of tracking similar changes as well as a few other things.
The article also mentions research that analyzed server logs from SEC EDGAR’s website and found: “The average publicly-traded firm has their annual report requested only 28.4 total times by investors immediately after the 10 K-filing.” Insanity!
LongHedge 