About Us

New Constructs is an independent research technology firm that provides unrivaled insights into the fundamentals and valuation of private & public businesses. Combining human expertise with machine learning and NLP, the firm shines light into the dark corners (e.g. footnotes) of millions of financial filings and provides superior investment research.

The firm's Robo-Analyst technology is the first-ever vertically integrated investment research platform: performing data collection, financial modeling and assigning investment ratings to over 10,000 securities - automatically.

True Fundamentals is a partnership between New Constructs and Quiver Quantitative, bringing some of these next-generation metrics to retail investors for the first time ever.

New Construct's data is trusted by investors of all types, from quant funds like GSAM to enteprises such as TD Ameritrade, Ernst & Young, and Refinitiv

Why You Need a New Kind of Investment Research

Financial statements are supposed to tell the story about how the company performed. But in reality, they are often flawed and misleading.

Many companies have poor collection policies, inconsistent collection rules, or systematic bias in how they report their earnings. Oftentimes "non-core earnings" (coming from ancillary business actiives or transitory shocks) have a significant impact on firms' GAAP earnings. Excluding these non-core earnings gives a better forecast of future earnings.

Our dataset parses through the footnotes of earnings disclosurse, to determine each firm's "earning distortion". A recent paper in the Journal of Financial Economics has shown that historically this metric could be used to produce a trading strategy with abnormal returns of 8% per year.