Michelle Leder runs the website, footnoted*, which focuses on the things -- both actionable and newsy -- that companies bury in their routine SEC filings. She launched the site in August 2003 to coincide with the publication of her book, Financial Fineprint: Uncovering a Company's True Value. In February 2010, the site was acquired by Morningstar. In September 2012, Leder bought the site back from Morningstar. After a six month "extreme makeover", footnoted* was relaunched in March 2013, combining free footnoted content and subscriber-only footnotedPro content into one site. As part of the relaunch, we built a database, vastly improved search functionality and starting tracking Red Flags in real-time. We pay particular attention to the Friday Night Dump -- the 90 minutes after markets close on Friday afternoons, when the SEC remains open. Among Leder's best finds over the past decade she's been delving into SEC filings are Chesapeake Energy's $12.1 million purchase of then CEO Aubrey McClendon's map collection and the fact that Halliburton, leading up to the 2004 presidential elections, now considered Dick Cheney, who was running for vice president at the time, to be a risk factor.
- October 2015
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