So in sum, I don't think it's completely possible to bootstrap a terminal. But if you're solely focused on the US market, you'll get very very far with free / cheap services. For international shares, you'll have to get a lot more creative.
Actually, openinsider.com is pretty good for US stocks. There used to be a website called HK Insider, but no more. I don't think there's any good international alternative.
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"How did you go bankrupt?
Gradually, then suddenly."
- Ernest Hemingway
Warning signs in the early "gradual" phase
• Shipments slow down
• Quality slips a bit
• Inventories build compared to sales
• Payables are extended
• Gross margins erode a bit
• Cash balances are falling
Warning signs in the late "gradual" phase
• Production problems
• Material shortages (mgmt tries to conserve cash)
• AR days go up
• Payables > 60 days
• Cash balances low
• Hard to meet payroll
• Credit facilities in technical default
• Employee morale is failing
"You don't know what anything is worth unless you know what can go wrong."
A 2.5-hour interview is perhaps overkill. But Anthony Deden is a smart man.
Key factors he looks at when analysing companies:
Scarcity
Permanence
Independence
What can go wrong?
Would you re-hire CEO if you were the controlling shareholder?
"I have never met a company that has grown subject to just acquisitions... When you look at something reliant on acquisitions or financial engineering, you are looking at an accident waiting to happen."