The Case for Real Time Fundamentals

Old hierarchy:

• quarterly narrative → price reaction

New hierarchy:

• continuous fundamentals → continuous repricing

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We are not trying to predict earnings.

We are eliminating the need for them as an event.

Inside a modern company, management already sees:

• daily cash balances

• rolling revenue

• bookings / churn

• inventory levels

• receivables / payables

• margin drift

• headcount and compensation burn

From an information standpoint, the firm is operating in near-real time. The lag exists only at the reporting boundary.

That lag is structural, not epistemic.

It means a small, stable set of high-signal metrics, updated continuously or daily, such as:

• net revenue run-rate

• cash position and burn

• gross margin trend

• unit economics

• order flow / backlog

• customer adds / churn bands

These are:

• already tracked

• already audited internally

• already decisive for valuation

Quarterly EPS is just a compressed, lagged proxy for these flows.

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Markets already operate at:

• millisecond execution

• continuous pricing

• real-time liquidity

But fundamentals are sampled at 90-day intervals or bi annually.

That mismatch is absurd.

You end up with:

• fast prices reacting to slow abstractions

• volatility clustered around artificial timestamps

• massive repricing events caused purely by reporting latency

Real-time fundamentals smooth the system by aligning information tempo with price tempo.

From an accounting standpoint:

• continuous auditing is feasible

• automated controls already exist

• variance bands can replace point estimates

• disclosures can be standardized

The barrier isn’t feasibility — it’s governance, incentives, and legacy protection.

Institutions like SEC and frameworks like GAAP evolved for a slower world.

The market has already moved on.