SEC EDGAR Live — Read the Original Source Before the News

When the headline reads "Company X Surprises with Earnings," where did the editor get that information? From a document that the company is legally required to publish — publicly available to anyone at the same moment as analysts, in the SEC EDGAR database. The SEC EDGAR Live tab (/sec-filings) brings this stream of reports directly to your screen — without a middleman, without interpretation, without delay.

Thought: Those who read the original have an advantage over those who only read the report about the original.

---

What is SEC EDGAR

The SEC is the American market regulator (similar to the Czech National Bank for securities). Every company on the American stock exchange must regularly and extraordinarily publish information that may affect the price. EDGAR is a public database where these go — free of charge, continuously updated.

★ Insight: Funds have faster machines, but they read exactly the same documents as you. The institutions' advantage is in processing speed, not in exclusivity of the source. This is a huge difference compared to most markets.

The feed tab filters and sorts: a live stream of reports, filter by company or type of report.

---

Types of Reports

Report	What it is	When it arrives	Why it matters
8-K	Extraordinary event	Within 4 days of the event	"Something big happened NOW" — acquisition, CEO departure, loss of contract
10-Q	Quarterly results	4× a year	Health snapshot — revenue, profit, cash flow
10-K	Annual report	1× a year	Most comprehensive document — strategy, risks, audit
Form 4	Insider trading	Within 2 days	What directors are doing with their own shares
13F	Institutional positions	4× a year (45 days after the quarter)	Where big money is flowing
13D / 13G	5%+ shareholder	Within 10 days	Activist/strategic investor acquired a stake
S-1	Prospectus before IPO	Before going public	Picture of a company heading to market

8-K is the most dynamic — it arrives reactively whenever something important happens. In the live feed, it's the most valuable. 10-Q/10-K arrive predictably (linked with the Catalyst Calendar). Form 4 — insider trades.

★ Insight: An insider purchase is usually a stronger signal than a sale — a manager sells for dozens of reasons (taxes, house), but typically buys for one: belief in growth. An insider cluster is a factual event that data captures before the news.

---

Why Read Filings = Information Advantage

Chain: event → filing → agency → portal → headline. Each article adds delay and interpretation. By reading the original, you skip the intermediaries.

And the second reason: filings are dry truth. PR is written by marketing (aiming to look good); regulatory filings are written by lawyers and accountants under threat of criminal liability. PR says "record quarter"; 10-Q shows that revenue grew only due to discounts and margins fell.

★ Insight: Compare the language of PR with the subsequent filing. PR "strategic transformation" + filing "12% revenue drop and goodwill write-off" = you know where the truth lies. The discrepancy itself is a warning signal. PR shows the showcase, filing shows the warehouse.

---

How to Quickly Extract 8-K (and Longer Reports)

1. Start with the type of event — 8-K has an "Item" number (1.01 = contract, 5.02 = management change, 2.02 = results). The Item number immediately tells you what it's about.
2. Find MD&A (Management's Discussion) — management explains the numbers in their own words.
3. Read risk factors — especially CHANGES. A new risk = the company is planning something or has started to fear something.
4. Look for numbers in context — compared to what? Did profit also grow, or only revenue while margins fell?
5. Check cash flow, not just profit — cash is harder to manipulate.

---

How to Use It + Connections

Confirmation of catalyst — 8-K provides official confirmation that an event occurred. Tracking insiders/activists — Form 4 + 13D.

Connections: SEC filings → Smart Money (Form 4/13F/13D = raw data, Smart Money aggregates the pattern) · SEC filings → Catalyst Calendar (calendar = when, EDGAR = what exactly).

★ Insight: Strongest thesis: Calendar alerts to upcoming results → EDGAR delivers 8-K with a surprise → Smart Money shows insiders were buying beforehand. Three independent layers from original sources.

---

Practical Procedure

1. Open /sec-filings, set the type filter (8-K, Form 4…).
2. Narrow down to the company (ticker).
3. For a new 8-K: Item number + first paragraph = 30 seconds.
4. Relevant event → original → MD&A + risks.
5. Cross-verify in Smart Money.

---

Tips

1. Watch for CHANGES, not absolute values.
2. Form 4 purchases > sales.
3. Read 8-K Item number before the text.
4. Compare PR with the filing.
5. Watch cash flow, not just profit.

---

Common Mistakes

Only reading the headline · ignoring risk factors · overestimating a single Form 4 · confusing speed with haste · forgetting the context of numbers.

---

Summary

SEC EDGAR Live brings original truth — mandatory regulatory filings at the moment they are released. If you learn to distinguish types (8-K extraordinary, 10-Q/10-K regular, Form 4 insider, 13D activist) and read them purposefully, you gain an information advantage. In connection with Smart Money and the Calendar, individual filings become a comprehensive analysis. Read the warehouse, not the showcase.

---

Educational content describing QMA features and publicly available regulatory data. Regulatory filings are factual data; interpretation and decisions are up to you. Investing carries the risk of loss.