What’s For Brunch? Trending Foods with Growth Potential: Part 2

Last week, we took a close look at the food industry, which certainly follows trends and changing consumption habits that can ultimately greatly affect the performance of various companies. Using Sentieo, we were able to take a look at data and trends regarding protein-rich grains like quinoa, hemp, and sorghum. This week, we’ll examine how the hype around brunch and street foods have been discussed across company filings.

 

The Avocado Craze and Brunch Boom

Avocados have been available to consumers for a while, but they were not very popular outside of Mexican cuisine until a few years ago. Since 2010, the popularity of this fruit has boomed, and consumer interest has spiked due to people’s greater awareness of healthy eating habits. The benefits of the avocado are many: the fruit has more potassium than bananas and is full of antioxidants, to name a few.

Google Trends data from Sentieo shows the booming popularity of the avocado quite clearly. The volume of searches has risen by over 400% since 2004 – 2008:

 

Many companies are not waiting on the sidelines. They are well aware of the recent trends, and the number of times that the word “avocado” has been mentioned in company filings proves it. (See below).

There are numerous companies exposed to the growing popularity of the avocado. Del Monte produces and markets several avocado products, while Limoneira claims to be one of the leading producers of avocado in the Americas. In the restaurant segments, more and more companies use it as an ingredient in their recipes. Del Taco Restaurants even mentions avocado in the company’s About section on every press release:

Consumers’ changing tastes are not just reflected in the growing or falling popularity of specific foods, but also in changing consumption habits when it comes to where to eat and when to eat. The way people eat and relax across the world is evolving, and the growing popularity of brunch is a clear example of that.

Document hits confirm that the brunch boom is a trend that many companies have been riding for several years now:

Based on the number of times that the word “brunch” has been mentioned in filings and transcripts, the most active companies in the brunch space seem to be Brazilian steakhouse chain Fogo de Chao, The Cheesecake Factory, and Brinker International. Even hospitality chain Marriott International has tried to take advantage of the new trend by offering several brunch options to its customers.

Speaking of how and where, we can’t avoid mentioning the constant growth of street food concepts. Street food’s growth is rampant. Even Michelin has recognized street food in its Hong Kong guide, and even two Singapore street-food hawkers have each received one Michelin star. The street food concept is loved by companies that want low-risk ways to test a new restaurant concept or food offering before committing to larger investments.

Look at how the number of mentions of “street food” in company-related documents and transcripts has boomed since 2013:

It is also a reflection of the growing interest from customers:

Street food combines the pleasure of eating tasty food with an important experience component, and it’s highly shareable, as the growing number of Twitter mentions indicates:

 

Sentieo’s tools help us identify, analyze and compare industry trends quickly and effectively. We used Document Search and alternative data from Mosaic to analyze these interesting trends in the food industry, a segment of the consumer space that is experiencing significant changes due to increasing health consciousness, changing consumption habits, and the rising adoption of specific diets for ethical reasons.

However, Sentieo’s tools can be used to run ad-hoc searches on a virtually unlimited number of topics, allowing us to gain important insights into any industry that are not available anywhere else. Stay tuned for the upcoming Part 3 of our Trending Foods Series!

From Crypto to Interest Rates: A Sentiment Analysis of Q1 2018 Earnings Calls

Today we published our quarterly Sentiment Analysis Report, which summarizes last quarter’s top keyword searches and provides detailed sentiment analysis across all industries. We used Sentieo’s Transcript Sentiment Analysis feature to analyze earnings call transcripts and discover which topics companies discussed the most last quarter, versus the same quarter in 2017.

We also compared the sentiment of management and analyst sections of transcripts, and graphed these data points so you can easily see trends or discrepancies between the two. We publish these reports every quarter, so you can stay updated on information that could impact your investment decisions this year. Here are some interesting themes that came up in our research:

 

Sentiment Analysis

Management versus investor sentiment is diverging.

Our sentiment analysis on transcripts shows that a decoupling is taking hold between the language from company management and market participants. Management continues to be upbeat during earning calls and presentations, while sell-side analysts and investors are taking a more cautious stance. To learn more, download the full, free report.

 

Keyword Mentions

Two themes we look at closely in this report are Cryptocurrency and Trade Tariffs. When analyzing the number of mentions of crypto by company, the companies that are leading the conversation are currently Nvidia (crypto chip vendor), Visa (payment company), CBOE (professional crypto derivatives exchange), and Salesforce (CRM and enterprise SaaS vendor). 

Talks of trade wars have unsurprisingly become central to many companies, with a marked edge towards uncertainty, caution and even fear for the effect it will have on business. Read more on page 4 of the report.

With these quarterly reports, we are starting down the path of quantifying linguistic data. This report is a real use case of the exciting new features we recently released, like our Transcript Sentiment Report function, which is part of Sentieo Document Search.

Below is a sneak peek of the report: a sample page about cryptocurrency.

To learn more about the companies, industries, and regions where crypto and other themes are being most discussed, download the full report, which covers this sector and many more. To find out more about how to run your own sentiment analysis with Sentieo, sign up here for a free trial.

What Is GDPR, Which Companies Are Talking About It, and Why?

You’ve probably been hearing a lot about the GDPR, or General Data Protection Regulation, over the past few months. If you haven’t, it’s very likely you have at least been receiving a few emails about privacy policy updates from the software products that you use. If you’ve been researching GDPR, you may have even noticed that the official GDPR site has been so overloaded with visits that it has slowed and sometimes even become unreachable.

So what’s all the fuss about? In this post, we’ll explain why.

What Is GDPR?

GDPR is the European Union’s new data privacy law that was written to further ensure the transparency of companies’ data collection and privacy. It has specifications for businesses around how they handle personal data such as user email addresses and phone numbers. GDPR is only really supposed to apply to the EU and EU residents, but because so many companies do business in Europe, American companies must also show that they are also GDPR compliant — all by today, when the law is officially implemented.

American companies have been updating their privacy policies and explaining, at the very  least, how they:

  • Capture, use, store, and secure user / customer data
  • Capture and use cookie data
  • Capture and use location/mobile data
  • Share user data with company employees, partners and third parties, if applicable
  • Obtain user consent to receive marketing communications

We decided to deep dive into how companies are talking about GDPR and the necessary compliance preparations. We used Sentieo’s DocSearch to search for mentions of GDPR across SEC filings, call transcripts, press releases, presentations, and global filings. We can see below that mentions have definitely escalated over the last two years, especially as we got closer and closer to the date of implementation: May 25, 2018.

 

Sentieo

We also see that there was an initial spike shortly after European Parliament adopted the regulation on April 14th, 2016. GDPR has been in progress for the past 6 years, as the timeline below shows:

  • January 25th, 2012: GDPR proposal released.
  • October 21, 2013: The European Parliament Committee on Civil Liberties, Justice and Home Affairs (LIBE) has orientation vote.
  • December 15, 2015: Negotiations between the European Parliament, Council and Commission (Formal Trilogue meeting) result in  joint proposal.
  • December 17, 2015: European Parliament’s LIBE Committee voted for negotiations between the three parties.
  • April 8, 2016: Adoption by Council of the European Union
  • April 14, 2016: Adoption by the European Parliament.
  • May 24, 2016: Regulation entered into force, 20 days after its publication in the Official Journal of the European Union.
  • May 25, 2018: Its provisions are directly applicable in all member states.

(source: Wikipedia)

We took a closer look at the companies with the most mentions of GDPR. The top five companies included Varonis and Talend, which are both companies that offer data-centric services. Varonis (VRNS) is a leader in data security and analytics, focused on protecting enterprise data. Thus, the GDPR mentions in its documents often refer to the products it provides to prepare its customers for GDPR.

Talend (TLND), a software integration vendor, also heavily referenced GDPR during its May 10th earnings call. Michael Tuchen, Talend’s CEO & Director even mentioned that Talend would even be “assisting Virgin Money UK with meeting regulatory requirements, including the EU’s GDPR.”

IBM had the third-most mentions of GDPR in its documents, and has even conducted a study on the subject: Majority of Businesses View GDPR As Opportunity to Improve Data Privacy and Security. Here is part of their press release about the study that came up in our search:

Last year, IBM itself also began to offer solutions to help their customers become more compliant with data regulations. Here is part of a June 2017 press release detailing those solutions:

 

 

GDPR is definitely inspiring organizations to more closely examine their data policies, especially in light of Facebook’s data breach and consumers’ increased understanding of privacy. We anticipate that most businesses will view data transparency as an essential part of their future strategies. This goal of transparency has allowed for some businesses like Varonis, Talend, and IBM to offer up specific compliance solutions for this use case, since compliance can be a complex process for most organizations without the right support. On the other hand, B2B companies in the software and targeted advertising businesses that derive a significant proportion of their revenues from the EU may face challenges from the GDPR.

As we’ve seen with the example of Facebook, non-compliance and cloudy communication can result not only in legal struggles, but also become a public relations nightmare with which no organization wants to be associated.

Earnings Guide Part 2 : Using Sentieo’s Alternative Data to Predict This Week’s Earnings Announcements

Note: The content of this post references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

With earnings season continuing this week, the Sentieo team has been making their predictions about earnings using alternative data from Sentieo Mosaic. Last earnings season, the team accurately predicted the Netflix, Snapchat, Twitter, Skechers, Grubhub, Trupanion, and Hubspot beats.

Our Methodology: Why Does This Data Predict Earnings?

In the graphs below, we are presenting Quarterly YoY growth in Google Trends, Website Visits (Alexa Panel), and Twitter Mentions. In all cases, we have compared the data against quarterly revenue growth. Alternative datasets like these are offered in the Sentieo platform and can provide an edge in analyzing consumer-facing businesses, as they often have a high correlation with revenue growth and are available ahead of traditional financial metrics for the period. As consumer behavior shifts more and more towards digital, indicators like these have become more predictive of tech and consumer company results. Below each chart is a link to the interactive version of the graph.

Here’s what we’re thinking for Floor & Decor:

 

FND – Floor & Decor Holdings (Call on Thursday, May 3, 2018)

 

Floor & Decor Holdings is a leading specialty retailer in the hard surface flooring market, selling tile, wood, and other accessories at low prices. The company was founded in 2000 and is headquartered in Atlanta.

We used Sentieo Mosaic to analyze alternative data for the brand, plotting it in the chart below. The chart shows that Google Trends (green line) and Alexa Website Visits (red line) have historically correlated with FND’s revenue growth; both datasets caught major revenue growth inflections in early and late 2017. For Q1 2018, Google Trends decelerated, but has leveled off more recently, while Alexa data has moved sideways in the face of an expected revenue deceleration from analyst estimates.

View Interactive Chart: http://snt.io/VW5jpdqoc

 

The Google Trends data below shows that business is growing nicely for FND. The top blue line represents Google Trends data for 2018, and demonstrates that FND is hitting new heights this year.

 

FND is a high multiple stock and has moved up a lot since last earnings, suggesting that the bar is high. FND looks like a likely beat this quarter, but if the company misses estimates, expect the stock to go down.

sentiment

Introducing Sentieo’s Game-Changing Transcript Sentiment and Linguistic Analysis Features

Over the last year, the Sentieo team has been investing heavily in NLP & data science. We were very excited to release the Sentieo’s Transcript Intelligence Report, which is the first of many features built on a powerful new technology that lets us dissect documents and help you find insight.

There is signifcant amount of academic research that supports the idea that changes in sentiment among those in company management, as well as those working as analysts, do indeed have some relationship with stock returns.

Management is typically a negative predictor of stock returns. When management seems overly excited about the future, this may indicate that the stock will underperform. (See “Manager Sentiment and Stock Returns,” Journal of Financial Economics). On the other hand, when investor sentiment is low, subsequent returns are relatively high on a subset of stocks (high volatility stocks, unprofitable stocks, non-dividend-paying stocks, extreme-growth stocks, and distressed stocks), consistent with an initial underpricing of these stocks. (See “Investor Sentiment in the Stock Market,” Journal of Economic Perspectives).

Our Transcript Intelligence Report provides automatic analysis on how sentiment and keywords for a given company have changed across quarters. The analysis easily splits out Management Sentiment vs. Analyst Sentiment. Let’s use Netflix as our example.

First, we open up Sentieo Document Search and search for Netflix transcripts. We choose a transcript in the left hand navigation, and see a “View Linguistic Intelligence Report” button at the top of the document in the right hand pane.

sentiment

 

 

We’re taken to the full Transcript Analysis page, and can now dive into the analysis!

sentiment

 

Sentiment Scores

Sentiment scores are generated by tagging each word in the document as positive, negative, or neutral using a dictionary designed for financial documents and applying a formula to generate a score for each section. The formula for sentiment is below:

The number (typically a decimal value below 0.1) is a percentage that should be considered on a relative basis, rather than absolute.

Management Sentiment

The following chart shows sentiment for Management commentary and Q&A answers on eight quarters of earnings calls. Sentiment is calculated as positive word % of total words – negative word % of total words.

management

 

 

 

Analyst Sentiment

The following chart shows sentiment for Analysts from the Q&A section of eight quarters of earnings calls. Sentiment is calculated as positive word % of total words – negative word % of total words.

 

 

 

Management-Analyst Sentiment Spread

The following chart shows the historical spread between Management and Analyst sentiment.

The spread between the two would suggest divergences in sentiment. For example, if the spread turned negative, then it is possible that management has turned less bullish while analysts have remained bullish, thereby signaling the potential for management to disappoint in future periods.

 

 

 

Conference Calls Sequential Comparison Word Cloud

The comparison word cloud shows the biggest changes in average keyword frequency between the 2018-04-16 conference call and the 2018-01-22 conference call for NFLX.*

 

 

 

 

Analyst vs Management: Keyword Differences

This is another comparison cloud showing the major average differences between management and analyst keywords on the 2018-04-16 conference call.

 

Management Top 15 Keywords

This table shows the top 15 keywords by frequency referenced in the past eight quarters of earnings calls. This provides a visual view at a glance into what is being discussed on the earnings calls over time.

 

 

 

Analysts Top 15 Keywords

 

 

 

Sign up for a free trial of Sentieo to get the sentiment report for Netflix and any other ticker you follow.

Sentieo Earnings Guide: Using Sentieo’s Alternative Data to Predict This Week’s Earnings Announcements

Note: The content of this post references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

With earnings season starting this week, the Sentieo team has been making their predictions about earnings using alternative data from Sentieo Mosaic. Last earnings season, the team accurately predicted the Netflix, Snapchat, Twitter, Skechers, Grubhub, Trupanion, and Hubspot beats.

Our Methodology: Why Does This Data Predict Earnings?

In the graphs below, we are presenting Quarterly YoY growth in Google Trends, Website Visits (Alexa Panel), and Twitter Mentions. In all cases, we have compared the data against quarterly revenue growth. Alternative datasets like these are offered in the Sentieo platform and can provide an edge in analyzing consumer-facing businesses, as they often have a high correlation with revenue growth and are available ahead of traditional financial metrics for the period. As consumer behavior shifts more and more towards digital, indicators like these have become more predictive of tech and consumer company results. Below each chart is a link to the interactive version of the graph.

Here’s what we’re thinking for upcoming calls:

SKX – Skechers (Thursday April 19th, After-Market)

We took a look at the international lifestyle and footwear brand Skechers last season, and predicted a beat. Currently, consensus is calling for $SKX YoY Revenue Growth to decelerate from 27% in Q4 to 12% for Q1 (dotted black line below). Google Trends data (green line), which has shown a great historical correlation to revenue growth, is actually accelerating for Q1 and suggests a revenue beat. Alexa Panel Website Visits (red line) also showed an acceleration during Q1.

http://snt.io/nT54NKK7U

Last quarter, SKX posted a huge beat on international wholesale revenues, which we called correctly. The blue line below represents $SKX’s International Google Trends, which showed a large Q4 acceleration. (Zoom in on the area inside the red box). Consensus was expecting a wholesale revenue growth deceleration to 23% (pink), but ended up reporting a huge beat of 40.1% growth (black) — just as the Google Trends data predicted.

http://snt.io/qG54RU4gM

This time around, we find ourselves in a similar situation. Consensus is calling for a large wholesale revenue growth deceleration (black line below), but the International Google Trends (blue line) still shows a very high growth rate, suggesting consensus is too low here.

http://snt.io/TQ54Rj4cF

crypto interest rates Sentieo

From Crypto to Interest Rates: A Sentiment Analysis of Q1 2018 Earnings Calls

Today we’ve published our second Sentiment Analysis Report, which summarizes last quarter’s top keyword searches and provides detailed sentiment analysis across all industries. We used Sentieo’s brand new Transcript Sentiment Analysis feature to analyze earnings call transcripts and discover which topics companies discussed the most last quarter, versus the same quarter in 2017. (See our previous report here).

We also compared the sentiment of management and analyst sections of transcripts, and graphed these data points so you can easily see trends or discrepancies between the two. We publish these reports every quarter, so you can stay updated on information that could impact your investment decisions this year. Here are some interesting themes that came up in our research:

 

Sentiment Analysis

Management versus investor sentiment is diverging.

Our sentiment analysis on transcripts shows that a decoupling is taking hold between the language from company management and market participants. Management continues to be upbeat during earning calls and presentations, while sell-side analysts and investors are taking a more cautious stance. To learn more, download the full, free report.

 

Keyword Mentions

Two substantial highlights from the various themes we cover in this report are related to cryptocurrency and Trump.

While mentions of crypto have continued to ramp up, two companies in particular had a surge in references: IBM and Overstock.com.

IBM, with its Watson program and early involvement in the emerging fintech scene, is a recurring leader in the category. What’s new is that as concepts are maturing, bigger and more influential ecosystem players are now making moves: IBM recently revealed that it has been meeting with executives from commodities trading platforms, large corporations, and perhaps most importantly, central banks, to explore cryptocurrencies and blockchain in their operating models. (CoinDesk)

Overstock.com also made the headlines as possibly the first $1bn+ listed company dipping into crypto funding with an ICO (Initial Coin Offering). The stock fell sharply year to date (-40%), in part in reaction to the Securities and Exchange Commission starting an investigation on Overstock.com’s subsidiary that did the ICO. (Investopedia)

With this report, we are starting down the path of quantifying linguistic data. This report is a real use case of the exciting new features we recently released, like our Transcript Sentiment Report function, which is part of Sentieo Document Search.

Below is a sneak peek of the report: a sample page about the information technology sector.

To learn more about the companies, industries, and regions where crypto and other themes are being most discussed, download the full report, which covers this sector and many more. To find out more about how to run your own sentiment analysis with Sentieo, sign up here for a free trial.

 

Sentieo notebook conferences

Sentieo’s Guide to Conference Season

As earnings season winds down, equity analysts start thinking about investment bank conferences and upcoming meetings with management. While the largest concentration of conferences happens in July and September, conference season happens year-round, so we thought now would be a good time to share our guide.

As conference season begins, you’ve got a lot on your mind. You and your team are getting ready to catch a flight, prepping for multiple days of back-to-back meetings. You want to be as prepared as possible, to ensure that you get the most out of your time away.

As former analysts, we’ve been in your shoes, so we put together a quick guide to help you out.


Get Mobile

When you’re on the road, your mobile device is your best friend. Don’t miss anything while you’re gone; use a mobile cloud software that allows you to review documents and financials while traveling — anywhere, anytime.

Reference financial data and prior conference transcripts on your tablet and phone during meetings with management, so your questions are sharp and you get the most out of your meetings.

With mobile access, you won’t fall behind if you’re away from an onsite data terminal. (And try not to forget your phone charger at home).

 

Prep Your Questions

Prepare and store your questions for conference meetings within a system that you can access while you’re in the meeting room, ideally from your mobile device. You’ll need a mobile app that stores any notes made by you or your team.

As the meetings occur, keep organized and also take notes within your mobile app. Tag them by ticker, topic, or your own keywords for easy retrieval after the trip.

Use note templates to have your questions ready and make sure you capture all the necessary information. Check out this example in Sentieo:

Go to your Sentieo Notebook, and choose your pre-made note template.

Sentieo template notes

 

Add your notes for the meeting, and save with the appropriate tickers and tags, for easy retrieval when you get back to the office.

 

Here are some topics you may want to ask questions about:

  • Emerging competitors 
  • Competitive positioning
  • Organic growth
  • Key drivers of standard and one time costs
  • Capital allocation
  • Capex
  • M&A
  • Dividends
  • Buyback
  • Problem areas/weaknesses the company is facing
  • Plans for raising capital

 

Collaborate with your team in real-time, whether or not they are at the conference, to ensure that you maximize the value of your meetings.

Add images from presentations that haven’t yet been released publicly directly in your notes so you don’t lose them.

 

Listen Carefully and Read Management’s Body Language

Management presentations will typically seem optimistic, but look for clues and ask tough questions to get to key nuggets of information. Try to scope out and take notes on indicators such as:

  • Management speaker confidence
  • Openness about risks (generally thought of as a sign of genuine enthusiasm)
  • Covering one’s neck (i.e. subconsciously seeking to protect a vulnerable part of their body) is a sign of discomfort, as is adjusting a tie, loosening a collar, or rubbing the forehead.
  • Executives who are uncomfortable with what they are saying often use “distancing language,” changing pronouns from “I” and “we” to “the company.”

Some other things to look out for in management presentations:

  • Comments on liquidity: trends in cash flow (or lack there-of) on balance sheet
  • Use of credit lines (are they too dependent on these?)
  • Press activity (press releases, PR firm hiring, poaching talented executives, new product announcements, focus on research and development, or R&D)

 

Network

When there’s downtime, talk to people from other teams and make friends. Your conversations could spark an idea, or you could make a valuable connection.

 

Investment Bank Conferences in 2018:

We compiled a list of webpages with the dates for investment bank conferences, below for your reference. There are a few large banks (Goldman Sachs, Morgan Stanley) and smaller firms that do not have lists, but this should help you make sure you don’t miss any upcoming conferences.

 

Keep organized, and enjoy conference season!

 

try free Sentieo

Introducing The Sentieo Trump Tracker: Follow The President’s Impact On Your Investments

trump-tracker-facebook-og-image (2)

Today, we are excited to introduce the Trump Tracker. It’s a bot that constantly scans new public financial documents for mentions of President Trump. These documents include all SEC filings, conference call transcripts, investor presentations, press releases, and more. The bot instantly surfaces new mentions of Trump as soon as they’re published, while intelligent queries automatically sort them into topics like Obamacare, Mexico, and NAFTA.

Anyone interested in following the administration’s impact on public companies can engage with the Trump Tracker by checking the dedicated website, following the @trumptrackerbot Twitter account, or signing up for a daily email alert on the site.

The Trump Administration is Now a Stated Risk Factor for Public Companies

When we last wrote about the Trump administration at the end of January, we noted that the markets paid six times as much attention to the new president’s policies as compared to those of President Obama over a comparable time period. Sixty days after President Trump moved into the White House, we see that trend continuing.

The number of regulatory filings mentioning President Trump sharply increased after Inauguration Day on January 20th. We measure a total of over 1750 filings mentioning President Trump from January 20th through March 22nd, 939 of which are SEC documents.

There is a significant change in the tenor of those mentions as well. We see references to President Trump shifting from high-level comments to more formal statements in the “Risk Factors” disclosure sections of SEC filings. Overall, 60% of references to President Trump within SEC filings are in the “Risk Factors” section. This is a substantial increase from the less than 15% we observed during the presidential campaign. This trend is even more pronounced in the healthcare industry, where we find that 85% of mentions since Inauguration Day were contained in these sections.

This shift is illustrated in the graph below:

Each bubble in the above graph represents an industry, while the size of each bubble corresponds to the number of SEC filings mentioning President Trump in that industry. The higher the bubble, the larger the share of those mentions present within “Risk Factors” sections. The dotted line, meanwhile, represents the average share of Trump mentions within “Risk Factors” sections across the market.

As you can see, both the number of mentions and the share of those mentions contained within “Risk Factors” sections has increased significantly since Inauguration Day.

In the months preceding President Trump’s inauguration, only about 15% of mentions were contained in “Risk Factors.” Over the past two months, that number has increased to 60%.

In total, Trump has already been mentioned in the “Risk Factors” sections of 10% of all 10Ks filed across all industries since January 20th.

Why are Tech and Consumer Discretionary so quiet?

We are surprised to find that only 4% of technology companies’ 10Ks and 10Qs filed since January 20th mention Trump at all. Likewise, in the Consumer Discretionary category, only 4% mention Trump.

These industries are reliant on overseas manufacturing and foreign workers, both of which are threatened by the President’s stated policies. We would have expected therefore to see a larger share of cautionary statements. These results, therefore, leave us wondering if management teams are rightfully dismissive or if they are hiding their heads in the sand?

Big Topics, Little Attention

Some prominent topics are largely absent from filings despite having been flagged repeatedly by market participants as a high risk. These include:

  • The Wall: We found only one SEC filing referring to Trump’s wall on the Mexican border.
  • Immigration and H-1B Visas: This is a key issue for many tech companies but also several other industries from Agriculture to anything with a high-street. H-1B visas are not mentioned at all, and Immigration in general is mentioned in only three SEC filings since January 20th.
  • NAFTA: Though Trump has threatened to renegotiate NAFTA, which could threaten American agriculture and associated industries, we find only eight mentions of the topic in SEC filings since January 20th.

Below is a summary table with the results for several key recurring themes of President Trump:

Source: Sentieo Document Search

Methodology

The Trump Tracker is built on top of Sentieo’s powerful financial document search and keyword alert engine. The Bot is constantly scanning through over 9 million financial documents that include SEC filings, conference call transcripts, investor presentations and press releases.

To generate the alerts, we built a series of complex queries that search for the word “Trump” in the proximity to other keywords. In most of these queries we also automatically filter out mentions of some of Trump’s businesses so that our alerts are more focused on real mentions of President Trump. However, the Trump’s Businesses filter allows you to see these mentions.

We plan on adding additional themes and would love your feedback. If you have an idea for a new theme, please email us at trumptracker@sentieo.com.

Banner image of Trump (at top) from AP Images. 

Using Google Chrome: Some Tips And Tricks For Equity Analysts

Google’s web browser can save you time by loading web pages faster (sometimes 10X faster) than other browsers.  Here are some ways in which Chrome can save you even more time:

  • Add bookmarks to the Bookmarks bar that appears when you open a new tab.
  • Add shortcuts to Chrome’s address bar, letting you access websites with fewer keystrokes.
  • Re-open closed tabs with Crtl + Shift + T.

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