Delta Reports

[handycap5]

In 2014, Todd Combs brought up the usefulness of "delta reports," which I believe are simply line-item comparisons of SEC filings. 

 

http://www.cnbc.com/id/101461797

 

In 2022, Todd Combs further emphasized the usefulness of these reports.

 

https://investmentmanagementinsights.substack.com/p/graham-and-dodd-annual-breakfast

 

So my question for the board is, what is the 1) simplest and 2) easiest way to access such comparisons of SEC filings. Is Bloomberg the best option and how does one do this? I have heard that Bamsec may also be a useful tool. I would like to avoid labor-intensive or complicated methods, such as using third-party software to compare downloaded files, such as doing a comparison in Word or using BeyondCompare from Scooter Software. Would someone who does this regularly provide advice? 

 

Thanks so much. Handy. 

Edited November 13, 2022 by handycap5
Submitted early - fat finger error hitting "Enter"

[handycap5]

Found that Bloomberg has a function called "redline" when you access an SEC filing under the function "CF." And Bamsec does a job if you click on "compare" when reviewing a filing. Both are pretty functional. Question answered. Problem solved. 

[TorontoChaosTheatre]

Thank you for the thoughtful response. I think BAMSEC is the correct choice for most money managers. 

 

However, if I can give some pushback, BAMSEC is super expensive for students, at 69 USD a month. When taking into Canadian currency conversion, the cost is over $1000 a year. I think the question was answered, but the problem of cheaper alternatives remains. 

 

I hope to have a better reply in the future, but if you are using BAMSEC, what do you like or dislike about it? What would you change or recommend the creators add? Thank you so much again. 

[Spekulatius]

Capedge is still free and has this “delta” functionality, they call it “view diff “ . I tested it out and it seems to work. My guess is that Capedge won’t remain free forever, but for now it is. Capedge is great for tracking new filings.

 

[Spooky]

If you have Microsoft word you can run a comparison in tracked changes of two PDF files. The results might be a bit messy but it works fairly well. There are also lots of legal blacklining specific tool for comparing documents you could look at.

[TorontoChaosTheatre]

On 1/18/2024 at 10:35 AM, Spekulatius said:

Capedge is still free and has this “delta” functionality, they call it “view diff “ . I tested it out and it seems to work. My guess is that Capedge won’t remain free forever, but for now it is. Capedge is great for tracking new filings.

 

 

This is amazing THANK YOU