About

What this is

Every comparable 10-K filer's annual report is read, both this year's and last year's, and the risk factors they name are counted. The result is a number with a denominator: how many companies name a risk, how many name it for the first time, and how many say nothing at all.

Why it exists

A free tool will show you what one company wrote, and a hand-picked list will show you fifty interesting ones. Neither tells you what share of comparable filers that is, or which of them changed their language this year. Without the denominator and the prior year, a count of risk disclosures is an anecdote.

Who is behind it

risk.readevery.co is run by Anton Novopashin, one person, working from Massachusetts. There is no team, no outside funding and no investor. The limitations are on the pages rather than in a footnote.

Anton Novopashin
PO Box 384, Medway, MA 02053, USA
[email protected]

How to check the work

Every page states where its numbers came from and how they were produced. The methodology page sets out which documents were read, the rule that turns a paragraph into a label, the validation read behind the error rate, and what this cannot tell you. The sources page names the one source and its reuse terms.

Corrections are welcome and get made. Email [email protected] with the page and what is wrong.

One disclaimer

Nothing on this site is investment, legal or professional advice, and the labels are machine-generated and wrong some of the time.