Thinknum is a startup with the mission: disrupting financial analysis.
In his work as a quantitative strategist at Goldman Sachs, Thinknum co-founder Gregory Ugwi saw firsthand the trials and tribulations financial analysts went through to digest companies’ financial reports and then build their own research reports about their expectations for future performance based on past numbers. The U.S. SEC’s mandate that companies disclose their financial data using XBRL (eXtensible Business Reporting Language) was supposed to help them, as well as investors of all stripes and sizes that want to better understand what’s going on at the companies they’re interested in.
“The SEC has mandated that all companies have to release their numbers in a machine-readable format, and that’s XBRL (eXtensible Business Reporting Language),” says Ugwi. The positive side of that is that anyone can now get the stats on companies from Google to Wal-Mart, but the downside is that by and large, they can’t do it in a user-friendly way.