Trata Launches: Anonymous Buyside Research Desk For Hedge Funds

Trata recently launched!

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^{"Discover the Narratives that Drive Markets"}

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TL;DR: Trata gives hedge funds un-biased, unfiltered stock analysis from anonymous Analysts at well-known funds. Their AI agents interview Analysts at multi-billion dollar funds, capture their thinking about the stocks they know and publish it anonymously.}

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Founded by Eric Cho, William Gao & Alexander Chen‍

Eric and Will met at Cornell as undergrads. Eric and Alex met in high school English and grew up in the same hometown.

Eric: 4.5 years as a Senior Analyst at a Long/Short Hedge Fund covering tech companies globally. Applied Economics (summa cum laude) at Cornell. Posts on Value Investors Club for fun, Sohn Idea Contest Finalist in 2021, has traveled to 20+ countries in the past few years.

Will: UChicago PhD Student (ML/AI). Research Scientist Intern at Meta’s Reality Labs, Nvidia’s Deep Imagination Lab, and Adobe Research. Full-time ML Engineer at Meta. CS/Stats/Math triple major in three years and a Master’s in CS his fourth year at Cornell. Globally ranked in certain online video games.

Alex: Senior Software Engineer at Titan (YC S18, Series C backed by a16z), Engineer 7 at Medallion (Series C backed by Sequoia), Software Engineer at Oscar Health a year before its IPO. CS degree from UCLA. Took a gap year to pursue bootstrapped entrepreneurship in Taiwan. By far the best chef in the apartment.

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Problem:

1. It takes buyside Analysts at least 3 hours to figure out a company’s key narratives/points of debate - what outcomes are going to drive the share price up OR down? Examples: an ongoing lawsuit, a competitor going bankrupt, an Activist campaign, a new CEO, etc. This involves reading earnings call transcripts, initiation reports, talking to Investor Relations, reaching out to other Analysts, and piecing everything together yourself.
2. Because of the time it takes to do step 1, would-be winners/inflection points fall through the cracks all the time.
3. Current solutions (idea dinners, forums like Value Investors Club, Twitter DMs, independent research boutiques and even paid Substacks) are fragmented and biased.
4. The highest quality leads come from talking directly to fellow Analysts, but there’s never been a way to do this at scale, authentically. Until now.

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Solution:

Trata use LLMs to interview dozens of people a day, get their quick and honest takes on signals/points of debate they’re actually paying attention to, and turn that into a one-of-a-kind research product. Each conversation is with an anonymous hedge fund Analyst who is deeply familiar with the company – think an expert network where the hedge funds are the experts. Contributors share their knowledge to gain access to an exponentially bigger pool of expertise.

They don’t provide investment advice; they just get you up to speed – fast. They work directly with the compliance teams of multi-billion dollar hedge funds and have a team of human lawyers to ensure SEC compliance.

They are building the product they wish they had as Analysts. Their first user interviews liked the idea so much (without any code built) that they are now their angels.

https://www.youtube.com/watch?v=gE_Ovy1BiTM

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Here’s how to think about their value proposition:

If a fund manages $300 million, one successful idea (3% position, +50% return) generates $4.5 million in profit and $900K in fees ($720/180K split between the Portfolio Manager and Analyst). This is a 750X, 120X, and 30X ROI on a $6K subscription for the Fund, Portfolio Manager and Analyst.

All it takes is one decent idea for Trata to be a home run.

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Learn More

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^{🌐 Visit www.trytrata.com to learn more.}

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^{🙏 If you are a hedge fund Analyst or know any hedge fund Analysts / public investors, reach out to the founders here! They don't have to be at a big fund like Citadel for them to be interested.
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^{🤝 Interested? Book a demo here.}

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^{‍‍👣 Follow Trata on LinkedIn & X.}