A commodity has no revenue, no margins and no book value, so the seats that read company financials — valuation, credit, forensic accounting, equity research and growth — have nothing to read. Their methods are built on filed accounts, and a bar of gold does not file any.

The desk can only read something with filings behind it. Point it at a listed company and you get ten independent readings and a measure of how far apart they land.

← Analyze a company instead