One company. 100+ agents. One human who signs off.
Each issue takes a single company apart the way a patient value investor would: what it really earns, what it's worth, and whether the price leaves a margin of safety. Worldwide, and especially the names nobody covers.
Join the waitlist → $75/yr early birdWhat we cover
Not the ten stocks everyone already owns. We look where the work hasn't been done for you.
Under the radar
Small and mid caps with no analyst coverage, where the filings are the only source and patience is the edge.
Outside the US
Japan, Europe, Israel, Korea and beyond. Agents read filings and calls in the original language, so you don't have to.
Value first
Graham, Buffett, Munger: owner earnings, durable moats, honest management, and a price below what the business is worth.
20 things nobody reads. We read them on a schedule.
A typical investor reads the headlines and maybe the annual report. The real story is spread across thousands of reviews, job posts, footnotes and foreign filings nobody has time for. That's why it takes 100+ agents. Each source is re-read on a fixed schedule and charted over time, so you see the trend, not a snapshot.
- 01
What customers say
Every review on app stores, Amazon, G2, Trustpilot and Google Maps, scored for sentiment. Is love for the product rising or fading?
Weekly - 02
Who they're hiring
Every job post: sales or engineers, which cities, which products. Hiring tells you the plan before the earnings call does.
Weekly - 03
Headcount and departures
Public LinkedIn profiles: is the team growing, and are senior people quietly leaving?
Monthly - 04
How employees feel
Glassdoor and Indeed reviews, CEO approval, the words staff use about management. Morale turns before numbers do.
Monthly - 05
Every earnings call, word by word
Ten years of transcripts. Tone shifts, questions they dodged, the KPIs they stopped mentioning.
Quarterly - 06
The footnotes, redlined
Each annual report compared line by line with last year's. Changes to revenue recognition, related parties and reserves are flagged.
Quarterly - 07
Filings in the original language
Japan's TDnet, Korea's DART, Germany's Bundesanzeiger, Israel's MAYA. Read in full, not in someone's summary.
As filed - 08
What competitors say about them
Rivals' calls, filings and decks mentioned by name. Competitors are the most honest critics.
Quarterly - 09
Suppliers and customers
Their filings and calls. When a key supplier says demand is slowing, that matters for the company too.
Quarterly - 10
Insider buying and selling
Every executive and director trade, including foreign equivalents of Form 4. Clusters matter more than single trades.
Daily - 11
Promises vs. delivery
Every target management has set, logged and checked against what actually happened.
Quarterly - 12
Their prices
Pricing pages archived and compared. Can they raise prices without losing customers? That's the moat.
Weekly - 13
Product release notes
Changelogs, app updates, status pages. Is the product getting better, and how often does it break?
Weekly - 14
Forums and communities
Reddit, Discord, niche forums where power users talk shop. They find the cracks first.
Weekly - 15
Leaders' own posts
What the CEO and executives post on LinkedIn and X: what they emphasize, and what they stop talking about.
Weekly - 16
Web and app traffic
Visits, downloads and search interest over time, compared with what the company reports.
Monthly - 17
Patents
Where R&D money is really going, years before it becomes a product.
Monthly - 18
Government contracts and trade
Procurement awards, import and export records. Hard numbers about real volume.
Monthly - 19
Courts and regulators
Lawsuits, FDA, FCC, EU and antitrust dockets. Risks that rarely make headlines until it's too late.
Weekly - 20
Local news where they operate
Papers in factory and HQ towns: expansions, layoffs, strikes, permits. The first place a story breaks.
Daily - 21+
The secret sauce
████████ the CFO's █████████ ████ every quarter, cross-checked against ██████ ███████.
█████ ████████████ in ████████, twice, in three languages.
We'd tell you, but the agents made us sign an NDA. Also, one of them won't stop counting cars in parking lots and we've stopped asking why.
Obsessively
Public sources only. We read what anyone could read, if they had the time.
What's in every issue
One company, end to end. Written to be read in a sitting and kept for years.
- The business in plain words. What they sell, who pays, and why customers come back.
- What it really earns. Owner earnings, cash conversion, and the adjustments management would rather you skip.
- The moat, tested. Returns on capital over a full cycle, pricing power, and what would have to happen for a rival to break in.
- Management and owners. Capital allocation record, insider buying and selling, and who else holds the stock.
- What it's worth. A valuation range with the assumptions shown, set against today's price.
- What could go wrong. The bear case argued properly, by agents told to break the thesis.
- The verdict. The human analyst's call, the margin of safety, and what we'll watch from here.
Pricing
One plan, billed yearly. We're opening a waitlist first: join now to lock in the early-bird price and hear when the first issue ships.
Regular
- Every deep-dive issue
- US and international companies
- Billed once a year
Early bird 25% off
- Everything in Regular
- For people who join the waitlist now
- Billed once a year
Questions
Why 100+ agents?
Because the slow part of research is reading, and the useful reading is the kind nobody does: every customer review, every job post, ten years of footnotes, filings in Japanese or Korean. Agents do it in parallel and keep doing it on a schedule. The human decides what matters. See the 20 sources we track.
What does the human analyst do?
Picks the company, directs the agents, checks the numbers against the source documents, and writes the verdict. Nothing ships without a person signing off.
What is the early-bird price?
Join the waitlist before the first issue ships and your price is $75 a year instead of $100.
Is this investment advice?
No. It's research. We don't know your situation, and you should make your own decisions.
Research and education only, not personal investment advice. Past performance says nothing certain about the future.