Who uses SEC filings?

Question

Do you use them for investment research?

If so, why?

How many individuals do you think use them?

Do you have any info to back the previous question up?

That's a lot, I know. Thanks for the input!

Answer 1

anyone who works at a bank uses them.  anyone who invests in any security from a public company should use them.  so figure a few million people, conservatively.

if you don't know what the company owns (assets) and how much it owes (liabilities), then you have no way to figure out what the company is worth (stockholder equity).

stock is an ownership interest in a company.  if you don't know what you actually own, how do you know if it's worth buying or not?

Answer 2

SO many investors, analysts, consultants, etc use SEC filings.  why?  b/c there's a wealth of important info in them, from financial statments, to management discussion of operating results, to industry/competitive analyses, accounting issues ranging from inventory treatment to tax treatment to the recognition of nonrecurring gains/losses to risks to opportunities....the list just goes on and on.

and that's just 10K and Q filings!  Proxy statements are in there.  Prospectuses on secondary offerings.  Info on major shareholders.  8Ks are for announcing new happenings.

at work i use them constantly.

Answer 3

Analysts, regulators and anyone who invests in a company uses SEC filings, individual investors, pension funds, mutual funds, hedge funds. etc.  I doubt banks use them.  SEC filings are mainly for investors.  Companies have several sets of books.  One set for investors, one set for creditors, one set for taxing authorities, and a set for internal use, the cost accounting books.  Each has different information laid out in different way to be useful to the recipient.