A research publication is only as good as what it tells you about itself.
Sonde is written by a team of financial analysts with more than fifteen years investing in public equities and a strong background in finance. It grew out of a private research process: the valuation models, the SEC filing pipeline and the screening tools behind these reports were all built for our own use long before they were built for anyone else.
Reports currently publish without individual bylines. That is a deliberate choice while this publication is new, and a temporary one — named, accountable authorship is a reader's most basic protection, and it will be in place here before any paid tier exists.
Analysis is produced using quantitative tooling built in-house, including a direct SEC filing pipeline, and every figure is checked against primary filings before publication. The position held by whoever wrote a given report is disclosed at the top of that report.
The author's position in the covered security is disclosed on the report itself, at the top, whether or not a position exists.
No position in a covered name is opened, closed or adjusted in the 72 hours before or after publication of a report on that name.
We accept no compensation from issuers, their affiliates, or anyone with an interest in the coverage. If that ever changes it will be disclosed prominently, not in a footer.
Reports are not shown to the issuer before publication. If a factual correction is made after publication, the change and its date are shown on the report.
Any position exceeding 0.5% of an issuer's share capital is disclosed explicitly, along with its direction.
Errors are corrected on the page with a dated note. We do not silently edit published research.
Sonde is an independent research publication at sondemarkets.com. It produces impersonal investment research, made available to the public on a regular published schedule. It does not provide personalised investment advice, does not manage money, does not take custody of client assets, and has no clients. Sonde is not a licensed investment adviser and nothing here is tailored to any individual's circumstances.