Research

Findings computed with the same tools we sell. Every number is pinned to accession numbers, so reproduce them rather than trust them.

• NVIDIA's risk factors: six years of churn, and the 2022 break
  2026-08-18 - Sentence-level diffs of Item 1A across six 10-K pairs. FY2026 is the calmest section in six years; FY2022 was a near-total rewrite.
• Risk-factor churn across the megacaps: a 3.4x spread
  2026-08-18 - The same sentence-level measure across nine megacaps. AMZN 0.155 to AAPL 0.522 on the latest pairs, and NVDA-2022-class rewrites have a base rate of one.
• Why accession-number pinning is the whole product
  2026-08-18 - Amendments get new accession numbers instead of overwriting old ones. Pinning is what keeps a baseline honest, in backtests and in year-over-year diffs.

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