Michelle
@footnoted.bsky.social
Reading SEC filings intensively and obsessively for 20+ years. Home of the Friday Night 💩. Learn more at footnoted.com. Brooklyn-born and raised, but now an Angeleno with a soupçon of Paris.
Signal: footnoted.90
Signal: footnoted.90
Looks like a very interesting paper!
After becoming a congressional leader, a politician’s stock portfolio beats out those of peers by 47 (!!!) percentage points a year through trades timed around bills and firms that later get government contracts
www.nber.org/papers/w34524
via @florianederer.bsky.social
www.nber.org/papers/w34524
via @florianederer.bsky.social
December 3, 2025 at 4:42 AM
Looks like a very interesting paper!
Can’t wait to read those risk factors!
December 3, 2025 at 4:40 AM
Can’t wait to read those risk factors!
How many more of these will happen if Trump actually gets rid of quarterly earnings?
New: "Nasdaq Tells Trump Crypto Partner Alt5 Sigma It ‘No Longer Meets’ Listing Requirements After Missed Report"
me, for @forbes.com
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me, for @forbes.com
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Alt5 Sigma Told It’s ’Noncompliant’ by Nasdaq After Failing To File Earnings Report
A fintech firm that routed $500 million to an entity affiliated with President Trump is yet to file its report for the third quarter, which ended in September.
www.forbes.com
December 3, 2025 at 12:59 AM
How many more of these will happen if Trump actually gets rid of quarterly earnings?
While the SEC charter allows it to operate with only 3 Commissioners, the agency was designed to be bi-partisan. All investors -- no matter their politics -- should be very concerned about this. (2/2)
December 2, 2025 at 8:00 PM
While the SEC charter allows it to operate with only 3 Commissioners, the agency was designed to be bi-partisan. All investors -- no matter their politics -- should be very concerned about this. (2/2)
Buried at the bottom of DealBook today was an item that SEC Commissioner Caroline Crenshaw will be stepping down at the start of 2026. The SEC is supposed to have 5 commissioners: 3 from the President's party and 2 from the opposing party. Once she leaves, all 3 commissioners will be Rs. (1/2)
December 2, 2025 at 7:57 PM
Buried at the bottom of DealBook today was an item that SEC Commissioner Caroline Crenshaw will be stepping down at the start of 2026. The SEC is supposed to have 5 commissioners: 3 from the President's party and 2 from the opposing party. Once she leaves, all 3 commissioners will be Rs. (1/2)
And now for some good news! Of course the idea that people need debt relief to pay their medical bills because they happen to get sick is pretty depressing!
December 2, 2025 at 5:39 PM
And now for some good news! Of course the idea that people need debt relief to pay their medical bills because they happen to get sick is pretty depressing!
I don't normally look at companies under $250m in market cap. But this 8-K filed late on Friday afternoon definitely seemed suss. Glad @zacheverson.com was on the case!
Scoop: They tried to bury this news on Black Friday, but, well...
Trump crypto partner Alt5 Sigma told the SEC its auditor quit in Nov.
We called the auditor.
He resigned in August.
That's the second SEC filing with an apparent conflict that Alt5 Sigma has made in recent weeks.
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Trump crypto partner Alt5 Sigma told the SEC its auditor quit in Nov.
We called the auditor.
He resigned in August.
That's the second SEC filing with an apparent conflict that Alt5 Sigma has made in recent weeks.
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Trump Crypto Partner Alt5 Sigma May Have Violated SEC Rules After Another Filing Discrepancy
Alt5 Sigma told regulators its accountant resigned in November, while he says he notified the company three months earlier.
www.forbes.com
December 2, 2025 at 1:17 AM
I don't normally look at companies under $250m in market cap. But this 8-K filed late on Friday afternoon definitely seemed suss. Glad @zacheverson.com was on the case!
Interesting. But no 8-K so far!
Costco is suing the Trump administration in an effort to get a full refund of new tariffs paid by the warehouse retail giant this year and to block those tariffs from continuing to be imposed as a Supreme Court case plays out… www.cnbc.com/2025/12/01/c...
Costco sues for Trump tariff refunds before Supreme Court rules if they're illegal
Costco joins dozens of other companies that are seeking to protect their rights to refunds of Trump's tariffs without first waiting for the Supreme Court.
www.cnbc.com
December 2, 2025 at 12:41 AM
Interesting. But no 8-K so far!
@latimes.com is asking for my opinion, presumably as a subscriber or just someone who lives in LA, about their private placement. Am I interested? F@ck no! Seems safer to set my money on fire than buy into this. Here's the survey for others out there: survey.alchemer.com/s3/8581217/L...
LATMG Private Offering
survey.alchemer.com
December 2, 2025 at 12:34 AM
@latimes.com is asking for my opinion, presumably as a subscriber or just someone who lives in LA, about their private placement. Am I interested? F@ck no! Seems safer to set my money on fire than buy into this. Here's the survey for others out there: survey.alchemer.com/s3/8581217/L...
Grrrr…Spent 1:15 waiting for a charger near Coalinga, where the air is downright putrid from open pools of cow waste. Then another hour to charge because it never cracked 70 kw despite @electrifyamerica.com promising up to 350 kw. Frustrating!
November 30, 2025 at 3:54 AM
Grrrr…Spent 1:15 waiting for a charger near Coalinga, where the air is downright putrid from open pools of cow waste. Then another hour to charge because it never cracked 70 kw despite @electrifyamerica.com promising up to 350 kw. Frustrating!
I ❤️my Kia Niro EV…except when I’m in the middle of nowhere CA waiting in an hour-long line for a charger! Shouldn’t these people be at some mall stimulating the economy?
November 30, 2025 at 1:52 AM
I ❤️my Kia Niro EV…except when I’m in the middle of nowhere CA waiting in an hour-long line for a charger! Shouldn’t these people be at some mall stimulating the economy?
Gotta love LA County public health and Barbara Ferrer (neither of which seem to be on Bluesky) for pushing out this statement quickly!
November 21, 2025 at 7:32 PM
Gotta love LA County public health and Barbara Ferrer (neither of which seem to be on Bluesky) for pushing out this statement quickly!
My son, like a lot of kids, played Roblox pretty much obsessively for several years. During Covid, it was a way to connect with friends. But I made sure he was only friends with people he actually knew IRL. It’s a dumb comment by the CEO, but it’s also called parenting!
We asked Roblox's CEO about child safety on the platform. It got tense www.nytimes.com/2025/11/21/p...
We Asked Roblox’s C.E.O. About Child Safety. It Got Tense.
www.nytimes.com
November 21, 2025 at 7:14 PM
My son, like a lot of kids, played Roblox pretty much obsessively for several years. During Covid, it was a way to connect with friends. But I made sure he was only friends with people he actually knew IRL. It’s a dumb comment by the CEO, but it’s also called parenting!
Hmmm…wonder what the chances are of the SEC actually digging in given the Trump connections?
New: Alt5 Sigma, one of Trump's key business partners, told the SEC that it suspended its CEO in mid-October.
An internal email, though, says he was placed on “temporary leave” more than a month earlier.
me, for @forbes.com
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An internal email, though, says he was placed on “temporary leave” more than a month earlier.
me, for @forbes.com
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Trump Crypto Partner Alt5 Sigma May Have Violated SEC Rules With Filing On CEO
One of Trump's key business partners told the SEC it suspended its CEO in mid-October. Internal records suggest he was on “temporary leave” more than a month earlier.
www.forbes.com
November 21, 2025 at 7:07 PM
Hmmm…wonder what the chances are of the SEC actually digging in given the Trump connections?
A long time ago when I was a cub reporter in Florida, a man I was interviewing told me to “Hush up, Kitten”. It took all of my self control not to bring the Brooklyn to him. Can only imagine how this reporter is feeling hearing this from the President. 🤮🤮🤮
When asked if there was anything "incriminating" in Epstein's emails, Trump pointed a finger in a female reporter's face and snapped. 'Quiet. Quiet, Piggy.'
people.com/donald-trump...
people.com/donald-trump...
Donald Trump Snaps at Female Reporter Who Asks About Epstein Files: 'Quiet Piggy'
Donald Trump Says 'Quiet Piggy' to Female Reporter Asking About Epstein Files
people.com
November 18, 2025 at 1:40 AM
A long time ago when I was a cub reporter in Florida, a man I was interviewing told me to “Hush up, Kitten”. It took all of my self control not to bring the Brooklyn to him. Can only imagine how this reporter is feeling hearing this from the President. 🤮🤮🤮
What a dump! There were 175 8Ks filed after markets closed at 4 pm today! Subscribers get first dibs on what I'm seeing. Find out more here: footnoted.com/subscribe
Subscribe to footnoted - footnoted*
footnoted.com
November 14, 2025 at 11:15 PM
What a dump! There were 175 8Ks filed after markets closed at 4 pm today! Subscribers get first dibs on what I'm seeing. Find out more here: footnoted.com/subscribe
Seems scary but got to wonder how they’re defining large: is it by revenues? Employees? Something else?
655 US LARGE COMPANIES HAVE GONE BANKRUPT YEAR-TO-DATE — THE HIGHEST IN 15 YEARS, ALREADY ABOVE EVERY FULL YEAR SINCE 2011 EXCEPT 2024 — S&P GLOBAL
November 14, 2025 at 10:43 PM
Seems scary but got to wonder how they’re defining large: is it by revenues? Employees? Something else?
Are people in LA really willing to pay $75 a pop to a "chef driven chain collab" from the likes of Sonic, Arby's, Heinz, and Friendly's? eatatchain.com
Chain - Holiday House
Chain
eatatchain.com
November 14, 2025 at 9:22 PM
Are people in LA really willing to pay $75 a pop to a "chef driven chain collab" from the likes of Sonic, Arby's, Heinz, and Friendly's? eatatchain.com
Last week, there were 160 8Ks filed after the markets closed at 4 pm. In that pile, I highlighted 10 for footnoted subscribers. How many will there be this week? Stay tuned! Learn more: footnoted.com/subscribe
November 14, 2025 at 8:34 PM
Last week, there were 160 8Ks filed after the markets closed at 4 pm. In that pile, I highlighted 10 for footnoted subscribers. How many will there be this week? Stay tuned! Learn more: footnoted.com/subscribe
Looks like @latimes.com is hitting up subscribers to invest in their IPO. Just got 2 emails in the past minute. "We're planning to go public, want in?" Not seeing an S-1 though.🤷♀️
November 12, 2025 at 8:52 PM
Looks like @latimes.com is hitting up subscribers to invest in their IPO. Just got 2 emails in the past minute. "We're planning to go public, want in?" Not seeing an S-1 though.🤷♀️
Even the WSJ’s opinion page thinks the 50-year mortgage is a bad idea!
Introducing a 50-year mortgage will boost housing demand, which will benefit Bill Pulte’s friends in the home-building and mortgage banking industries. But it will also lead to higher prices.
Introducing a 50-year mortgage will boost housing demand, which will benefit Bill Pulte’s friends in the home-building and mortgage banking industries. But it will also lead to higher prices.
November 12, 2025 at 8:19 PM
Even the WSJ’s opinion page thinks the 50-year mortgage is a bad idea!
Introducing a 50-year mortgage will boost housing demand, which will benefit Bill Pulte’s friends in the home-building and mortgage banking industries. But it will also lead to higher prices.
Introducing a 50-year mortgage will boost housing demand, which will benefit Bill Pulte’s friends in the home-building and mortgage banking industries. But it will also lead to higher prices.
SEC filings geek alert: Yesterday was a big 10-Q deadline. But because today is a federal holiday, albeit one where markets are open, companies that are late in filing their 10Qs have until tomorrow to let investors know.
November 11, 2025 at 8:02 PM
SEC filings geek alert: Yesterday was a big 10-Q deadline. But because today is a federal holiday, albeit one where markets are open, companies that are late in filing their 10Qs have until tomorrow to let investors know.
Was talking to my son over dinner about the idiotic 50 year mortgage plan. He’s 15 and not quite ready to buy a house. But if he was, he’d be done paying it when he’s 65!
November 11, 2025 at 4:38 AM
Was talking to my son over dinner about the idiotic 50 year mortgage plan. He’s 15 and not quite ready to buy a house. But if he was, he’d be done paying it when he’s 65!
I’ve bought several cars so far for both me and my husband. Almost every time, the sales guy starts with the monthly number you want to pay. A BMW 5 series for $299 a month? Sure no problem! They’ll always make the math work but it’s not working for you! (2/2)
November 10, 2025 at 11:48 PM
I’ve bought several cars so far for both me and my husband. Almost every time, the sales guy starts with the monthly number you want to pay. A BMW 5 series for $299 a month? Sure no problem! They’ll always make the math work but it’s not working for you! (2/2)
A little over a year ago, I was shopping for a car and briefly looked at Teslas (before Elon went totally nuts). I still remember this young woman who wanted to put zero money on a new Model 3. My husband had to stop me from walking over to her and trying to talk her out of it. (1/2)
November 10, 2025 at 11:45 PM
A little over a year ago, I was shopping for a car and briefly looked at Teslas (before Elon went totally nuts). I still remember this young woman who wanted to put zero money on a new Model 3. My husband had to stop me from walking over to her and trying to talk her out of it. (1/2)