10-ks or the annual report.

Reading the 10-ks or the annual report of a company is necessary to understanding the business. It provides a great way to learn what the company does as well as some of the risks involved in investing in this company.

In addition to all the financial information, you can also glean many "soft" information from these reports such as other competitors, types of commodities they may be involved, management's thoughts on direction, and so on. 

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