TSOH Announcement

TSOH Investment Research + AlphaSense

I recently finalized a sponsorship agreement with AlphaSense, which will run throughout the remainder of 2025. This morning, I want to address two items: why AlphaSense, and the deliverables that apply to TSOH paid subscribers.

Why AlphaSense?

To explain why I decided to sign this deal, it’s important to understand what AlphaSense is and the role that it plays in my equity research process.

AlphaSense is a market intelligence and search platform that helps investors to make more thoughtful decisions. My primary use of AlphaSense to date has been for document search and the expert transcript library, with the latter benefiting from the acquisition of Tegus in July 2024 (Tegus has a library of 150,000+ proprietary expert transcripts from 24,000+ companies, and is adding ~6,000 new transcripts each month). Those use cases – document search and expert transcripts – account for a large percentage of my time when analyzing an idea. On the former, this includes digging through call transcripts and other non-standard documents – for example, an Investor Day PPT deck from 10 years ago – which can be difficult to track down without a tool like AlphaSense. It has helped make my research process more efficient.

But this only scratches the surface; AlphaSense has a number of other features, most notably generative search, that will further expand upon my use of the platform (the examples cited above). You can think of AlphaSense generative search as comparable to a tool like ChatGPT – but with complete access to millions of relevant source documents, including SEC filings, call transcripts, broker research, trade journals, and expert interviews. This tool has begun to streamline my research process; it enables me to be more efficient with my time, and it is helping me to find insights / sources that can be harder to access, in my experience, when using broader search tools.

That background provides some insight into how this arrangement has come together. As similar opportunities arose for TSOH Investment Research over the years, the challenge has always been finding the right fit - a very short list given my requirement that it needs to be a product that I use in my research process, along with the need to find a company / team that appreciated what TSOH Investment Research brings to the table (and, as importantly, what I could not or would not be able to do). It needed to be a deal with a company that thought similarly to how I do about TSOH, i.e. one that valued long-term brand building as a worthwhile objective, not just measurable / short-term outcomes. Some opportunities came and went given those requirements.

After a few years of ongoing discussions with AlphaSense, we’ve reached a mutual understanding of what a sponsorship should look like. I’d like to thank Will Cummings, Director of Strategic Marketing Programs at AlphaSense, for his patience and flexibility in structuring this deal. It will enable me to highlight AlphaSense’s valuable tools in a way that is additive for TSOH subscribers.

TSOH Deliverables (Paid Subscribers)

Throughout 2025, I will host three events sponsored by AlphaSense.

While the specific structure and focus of each event will vary, the Dollar General / Tegus panel discussion from September 2024 and the conversation with Bill Brewster about the future of sports media rights from October 2024 are examples of what I envision. Said differently, my hope is that these events will be a standalone value-add for subscribers, while still living up to my end of the agreement with AlphaSense (highlighting my use of their platform as part of the equity research process). You will receive two emails in the weeks prior to each event outlining the call details and the sign-up process; we are currently finalizing the first event, which will be an expert discussion on Nike.

The other key deliverable from the agreement will be organic inclusion in my equity research. That will appear in TSOH research as screenshots and links from AlphaSense document search, expert transcripts, and other platform use cases (like generative search). As I’ve worked with a product expert at the company to improve my proficiency with the platform, it has helped me to appreciate how technology can be further leveraged in my process. As someone who could be fairly accused of being stuck in his ways – I still manually create all of my Excel workbooks - this will push me out of my comfort zone, to learn how to leverage a best-in-class equity research tool.

As I become more experienced with the platform, I hope to highlight how it may be a value add to your process. If you’d like to try AlphaSense to see if it’s an effective tool for yourself or your firm, sign up for a free trial here.

If you have any questions, please let me know. Thank you for your time.

NOTE - This is not investment advice. Do your own due diligence.

I make no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information presented in this report. Assumptions, opinions, and estimates expressed in this report constitute my judgment as of the date thereof and are subject to change without notice. Projections are based on a number of assumptions, and there is no guarantee that they will be achieved. TSOH Investment Research is not acting as your advisor or in any fiduciary capacity.