Need feedback about the financial product I am providing
Hello indiehacker,
I have created a solution to extract information from the quarterly reports of public companies. And I can extract this in real-time from the PDF letter.
For now, it can be done in ~1 minute, but in the future, it will be much lower.
It is for personal uses, but maybe other people might be interested in this product (I did not see anything equivalent out there). I am providing an excel file by mail, but maybe people are more interested by real-time newsletter.
Let me know if you think my solution is solving a problem or not!
Here is the website to subscribe and receive the extracted information by mail:
https://asklafayette.herokuapp.com/
Thank you very much,
Simon
I'm not your target customer, but if I was a financial analyst I would love to have a csv extract of quarterly reports.
How do you ensure
Since this is a machine learning-based approach, I have a certainty score for each extraction and provide the result only when my certainty score is above a given threshold.
I think it depends on who your target market is.
Is it for individuals / small investors or larger investors like institutions? I'm not sure how many individuals read or look at the filings. Personally I just go for the lowest cost Vanguard ETF...
I used to work at Thomson Reuters and one of the products i worked on did filings analysis for large investors.
The key there was to not just have information but actionable information. Being faster sounds good on paper but most firms that depend on filings are not doing trigger fast trades so the time factor is not as relevant for them - for a quant shop - definitely. What's very important is how they use the data and what they are looking for to make their investment decisions.
With that said I do think there is a opportunity in figuring out new ways to use filings as it's the "raw" data that's out there.
Send me a email off my IH profile if I can provide more insight :)
It’s a great idea, but in my opinion it will always fall behind the information you would get from a Bloomberg terminal. How is the info parsed and presented? Are you just focusing on earnings?
On your link: "There's nothing here, yet."
Sorry,I just changed the domain . name.. it should work here:
https://asklafayette.herokuapp.com/
I wanted to check it out, but the URL is currently down. Can you check?
Ah yeah, I just changed the URL.. my bad!
https://asklafayette.herokuapp.com/
While I'm not sure if it's alway manual or automated, I'm pretty sure there are already solution like that one can buy or access...
seekingalpha yahoofinanace googlefinanace are just some common known sources..
there are some more premium ones for bigger traders..
Thanks for the info!
Is it real-time as soon as the report is published? I think Bloomberg has a solution but I don't know how to find more details of it.
Information needs to be extracted from a PDF file, and I was thinking they were releasing this with a delay in order for a human to verify the information.
There might be space in the niche or sub-niches for more services, when you talk about real time there are automated trades and single services and probably more things I can't think about right now that might take interest in it.
And while there are probably solutions it also means there is a need.
The questions is how to package it all.
Also quality is super important.
Maybe that could actually be interesting for people to get multiple close to real time services to validate each other :shrug:
It's been a really long time since I was in the niche.
I think SA is in minutes with an email alert.
Bloomberg IIRC is the premium traders terminal service for the big guys...