May 5, 2026
Dear SEC, My RIA utilizes fundamental data from quarterly filings to actively invest in individual stocks for clients. My work suggests that timely reporting of fundamental data results in more efficient allocation of capital. While I recognize the value of lowering regulatory hurdles, I want to emphasize the pricing inaccuracies and volatility risks that I expect to result from low-frequency measurements of the economy. Is it possible that America's incredible brand of capitalism has benefitted from efficient markets more than it has suffered from regulatory requirements? Additionally, my RIA is small and independent. Public data like these have no replacement for me. Beyond my dependence on these data, I would suggest that public data are especially irreplaceable for index investors with no advisor affiliation. It seems to me like cohorts dependent on quarterly filings are growing at a fast pace. Thank you for taking the time to read my perspective. -Vincent Jansen