Signal report cards lazy_prices
Lazy Prices (10-K text change)
Cohen-Malloe-Nguyen (2020) — companies that materially rewrite Risk Factors or MD&A in their 10-K subsequently underperform.
Demo data: this card was rendered from fixtures because no live track record has been computed yet in this environment.
Basket vs SPY
14 flagged ticker-events · 136-day window| Horizon | Basket | SPY | Alpha | Sample |
|---|---|---|---|---|
| +30d | -1.40% | 2.60% | -4.00% | n=14 |
| +60d | -3.00% | 4.80% | -7.80% | n=12 |
| +90d | -4.70% | 6.90% | -11.60% | n=9 |
Returns are equal-weighted, simple arithmetic means of per-ticker forward returns. Alpha = basket minus SPY. Flags younger than the horizon are excluded from that horizon's sample.
Methodology
- What the signal measures
- Cohen-Malloe-Nguyen (2020) — companies that materially rewrite Risk Factors or MD&A in their 10-K subsequently underperform.
- What counts as a flag
- Text-change score ≥ 0.20 in the latest 10-K / 10-Q (substantial rewrite).
- Sample window
- 2026-01-01 → 2026-05-17
- Benchmark
- SPY
Recent flags
Most recent ticker-events that crossed the flag criteria, newest first. Spot-check the rule against actual signal output.
Outputs are informational only and should not be considered individualized investment advice.
Stocks is a financial publisher, not an investment adviser or broker-dealer. It does not provide personalized recommendations and does not know your holdings.