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The Most Common SEC Filings & Their Definitions 🧵:
1. 10-K (20-F if foreign issuer)
• Annual report of a firm's operational performance.
• Includes (audited) financial statements, management discussion & analysis, risks etc.
• Filed w/in 60 days of a fisc... See more
Form 10-12B filing (in the United States, this is the document that the parent company files with the SEC before the separation) and search for “executive compensation.”
Gautam Baid • The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)
Terravest Industries $TVK.TO
• Boring industry
• Highly synergistic M&A strategy
• Intelligent pivots to adjacent vertical markets
• Superb capital allocation with high insider ownership https://t.co/So3ILw6Qai
KLA looks like AMAT, but smaller and better.
74% 10Y cash on cash returns, including their '19 acq. of Orbotech for $1.9Bmm, vs. AMAT's 52% w/o any big acq.
Orbotech was funded 1/2 with newly issued shares but KLAC increased their buyback such that FDSO out actually went down in 2019...___L... See more