What Mercata does
Three things, every day, in your firm's context.
Mercata is a single system that never stops reading the world for your firm. It shows up in your day in three ways. The volume of noise in fundamental investing keeps rising; the only way to keep up is to read continuously, in your firm's specific context.
Signal from noise, in your context.
Filings, transcripts, news, internal sources — read continuously, through your firm's lens. Your theses, your positions, what you were waiting to happen, all already known. By morning, what's material to you has surfaced. The rest stays quiet.
A thinking partner. A sparring partner.
When you start on a new name, sector, or angle, Mercata has already learned the territory. It can be a partner for exploring a thesis and a sparring partner for stress-testing it before the investment committee. A week of work in a day.
Yours, because you build it.
Your firm sets the watches. Your firm defines the red-flag checklist for a new name. Your firm sets the questions every 10-Q gets asked. Mercata holds it all together so the firm's reasoning compounds — and gets more yours the longer your firm runs it, because your firm is the one shaping it.
In practice — 01
A 200-page 10-K just dropped.
Ready before the question lands.
A new 10-K lands. Two hundred pages. Your CIO reacted in chat with an "eyes" emoji — meaning I'll be asking about this, and soon. It's yours to analyze before they do.
Mercata has already read it. By the time you sit down, the five percent that's actually new is identified — including a quietly-revised number in the segment notes and a new risk factor on customer concentration, both of which affect your thesis. The brief is there, tied back to your holdings, your thesis, and the history with the name.
You go from reading the brief to digging in — asking Mercata questions, getting answers with citations and sources. Within minutes you post a signal analysis to the team. The CIO knows where you stand before they ask. The other four hundred things that landed in your firm's universe today were already read; briefs exist for each, all flagged low importance. You skim them and move on with your day.
What's new. What's important. What's important to you.
In practice — 02
Your CIO heard a name at the bar last night.
A week of digging to an afternoon of thinking.
Your CIO walks in Monday morning. A friend at the bar last night mentioned a name. Check it out. You open Mercata. The firm hasn't looked at this one — and it's in your universe, so Mercata already has all the ingredients: over twenty years of filings, press releases, transcripts, fundamentals, and pricing history, already read. A quick screen: right sector, right market cap, right volume, and it could replace a name the firm exited last quarter. Worth a closer look.
You ask Mercata to get you up to speed, then you dig in by asking more questions — learning about the company, the management team, the sector. Something starts percolating. You ask Mercata to run the firm's standard red-flag checklist: customer concentration, governance, management overlap with prior failures, accounting patterns the firm has learned to flag. Clean.
You ask Mercata to draft a thesis using the threads of your conversation, edit it into something you'd put your name on, then ask Mercata to argue against it the way the investment committee will. The bear case sharpens the bull case back. By the afternoon the draft is with the team — credible, pressure-tested, and clearly the work of someone the CIO will hand the next tip to. Or you dismiss the name and move on. The week of digging is now an afternoon of thinking.
In practice — 03
Japan just hiked rates.
Across the book, in one question.
Wednesday morning. The Bank of Japan just hiked rates — the first move since the policy regime reset. The yen surges. Equity markets globally are mixed. Your CIO opens chat: which holdings are most exposed, directly or through the value chain?
You ask Mercata. The system pulls from what every name in the book has disclosed — material Japan revenue lines, yen-denominated input costs, Japanese customer concentration above the segment-reporting threshold, manufacturing and supplier exposure flagged in risk sections. Five names with primary exposure surface, six more secondary. Each one is tied back to the specific filing language that disclosed it. You drill in where it matters.
Without Mercata, this question takes a day — every analyst pulling 10-Ks on the names they cover, reminding themselves what's disclosed about geographic exposure and customer mix, comparing notes, building the list by hand. With Mercata, the answer comes from the filings the system has already read and can extract within minutes. The time freed now goes to productive work: figuring out what to do about it, not figuring out what the firm already owns.
How it works
Reads. Maps. Retrieves. Grounded in source.
Mercata reads continuously — filings the moment they post, transcripts the moment they're released, news as it lands. It maps the entities and the threads between them, and retrieves only what's relevant to your question, grounded in source.
Under the hood: a knowledge graph with retrieval-augmented generation, time-aware, with your firm's data logically separated from everyone else's. Events, agents, and KRAG sit at the core — not as a bolt-on. AI is the architecture, not a feature.
In practice, you can ask the questions that cut across names and time — which holdings are exposed to a coup or an earthquake, which other companies a management team has run, where else a supply-chain disruption shows up. The first-order context is in view by default; the deeper traverses surface when you ask the probing question.
It knows when something was said.
The system reasons about how positions, theses, and facts have changed — not just what's true today.
Your data lives in your environment.
Treated as your record, not training data. Never used to improve our models. More on security →
Every answer points back.
No invention, no confabulation. The source documents are one click away, every time.
What your firm gets to be
A firm that doesn't lose its mind. Or its time.
Quick morning news triage.
A filtered inbox. Investment committee with a battle-hardened thesis. From new name to thesis in days. Sleep that comes from knowing you aren't missing anything material — and a vacation you can take, because your knowledge isn't the bottleneck for anyone else.
Dispassionate about your positions.
You stop falling in love with the trade. The original thesis, the original evidence, the original reasoning are right there — not edited by memory, not recolored by the result. You stay clear-eyed about why you got in and whether you're still right to stay.
A firm that thinks more clearly.
No revisionist history when a position turns. Cognitive bias gets reduced firm-wide. The departure of a senior analyst no longer costs you five years of context across twenty names. The firm becomes more confident — it can answer its own questions and show its own work.
The promise
The longer it runs, the smarter your firm becomes.
Knows what you know. Thinks like you think. Works where you work.