Show HN: EquiReason – a research department running as software

What's changing, who it reaches, what would end it — and for every company we cover, a verdict, the evidence for it and the evidence against it. Every filing read, every change sent to you. The data room is open: take the view, or go to the data.

None of them tell you who actually benefits.

A fund fills these desks with nine people who rarely talk to each other. Here one desk moves and the others recompute — the same day.

Continuously, throughout the trading day — not a weekly snapshot.

EquiReason reads real 10-Ks, 10-Qs, 8-Ks and transcripts to detect changes in demand, margins, guidance, capex, backlog and risk — then maps each to the economic mechanism that carries it.

Models structure the text. Rules, sources and company data test the conclusion.

An event becomes a trend, travels through its mechanism to the industries it reaches, and lands on the companies that actually earn from it. One event can open several channels at once.

And we map what comes next — the second- and third-order beneficiaries, and the lag before each one arrives.

Proven through business model, SEC evidence, segment revenue and measurable transmission — not keyword matching.

Six hard gates remove strong narratives with weak evidence. We look as hard for reasons to say no as for reasons to say yes.

And being right isn't enough — if the market already paid for it, you're late.

The signal is not the star. The decision is.

A filing lands. Only that company is recomputed — the same day.

The verdict moves. You get the reason, not just the alert.

Today's ranked companies, each with a score, a band, a pricing state and the reasoning behind it.

Open any name to inspect the full path — from trend and exposure to quality, pricing, macro, risks and the score.

Professional and management activity doesn't replace the thesis. It's additional evidence that can confirm or challenge it.

A system is only trustworthy if it can measure when it was wrong — and show what it doesn't yet know.

Plans differ by how deep the evidence goes — never by which names you are allowed to open.

Open today's market.

See what changed. Understand which companies it reaches. Inspect the evidence behind every decision.