best resource for annual reports

is this going to be Edgar? i didnt know it was that expensive. are there other sites that offer access to a LARGE database of annual reports?

http://www.sec.gov/edgar.shtml It is free - maybe I am misunderstanding what you are trying to do. Just pull up the 10-K for whatever you are looking for, that is the annual report.

yeah…i dont know what i was thinking. hmmm

It seems like the thing you get in the mail has more pictures than the boring 10k.

virginCFAhooker Wrote: ------------------------------------------------------- > It seems like the thing you get in the mail has > more pictures than the boring 10k. True, but I think most large companies will have that version in PDF in the IR section of their website. For example, if you go to Raytheon’s IR site and click Annual Reports, you can get the nice colorful ones with lots of pictures. I’ve seen a lot of companies that do the same.

The pictures are always of smiling minorities. One time I got an annual report for a biotech company called Lifecell. It had some boobs in it. That stock went from $7 to $50.

wow, raytheon earned nearly $10/share and it trades at $57. What a deal!

I use to do a little trick in MS word that compared the text of, say, 1Q08 and 2Q08 reports. Since so much of the language was boilerplate, this was a good trick to find out what changed. Sorry, I forgot how to do this. It had something to do with viewing edits or changes. You can probably Google it unless someone else knows what I’m talking about.

XSellSide, that’s an awesome tip. If you ever do remember how you did this, I’d love to know.

just go to the company’s website. They usually have pretty pictures and are formatted better for the printer

virginCFAhooker Wrote: ------------------------------------------------------- > The pictures are always of smiling minorities. > One time I got an annual report for a biotech > company called Lifecell. It had some boobs in it. > That stock went from $7 to $50. I was at a sell-side healthcare conference one time, and on one evening, we had a social gathering for us sell-siders as well as a number of our buy-side clients. We were just schmoozing and grabbing drinks, but given that this was a business conference, talking shop was virtually inevitable. A few folks from my team as well as a couple of buy-side guys started talking about a couple of mid-cap stocks such as Hologic (manufacturer of women’s health diagnostics and digital mammography systems) and SenoRx (manufactures women’s biopsy devices), and commented on the various investment merits and risks of these companies. The discussion was pretty much the standard shop-talk and was way too politically correct to be interesting (we were in mixed company so we had no choice), until one drunken buy-sider “astutely” noted that us sell-side analysts “need to do a better job covering healthcare companies, since everyone knows that any business that has anything to do with breasts deserves a Buy rating.”

Ahh, it’s the compare and merge documents function in Word. If you want to try it, create a word doc with the text “Earnings were great”. Then, create a word document with the text “Earnings were good”. Tools > Compare and merge documents. It’ll show you that great turned to good. It can be a bit chaotic if you are trying to compare docs with many, many pages, so I use to compare just a few large paragraphs at a time.