(This report is part of our occasional Other Voices format, as we run across interesting investment ideas or practices from outside our firm. Today’s piece is written by David Zion, founder of the Zion Research Group, an independent research firm focused on accounting and tax issues, and his colleagues Ravi Gomatam and Ben Wechter. It is excerpted from Zion’s annual 10-K Checklist, which includes tricks of the trade, potential red flags, questions to ask and common-sense tips to help you navigate the 10-K filings.)

Few investors other than Warren Buffett, perhaps, enjoy reading SEC documents, but they are crucial to a complete understanding of the company whose shares you are considering.  Buying a stock without reading the 10-K is like driving to an unknown destination without a map.  You can do it, but it’s better with navigation. Zion Research Group is expert at deciphering corporate SEC filings.  To help you navigate this thicket, we are running excerpts from Zion’s reports about 10-Ks. This is the second of three.

Financial Statement Analysis, Just Do It.   When the team at Zion Research Group are doing a Deep Dive on a company, they'll read the 10-K from start to finish. If you want to narrow your focus, old fashioned financial statem...
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