Better Stock Investing Through Better Data with @CuriaFinancial

7 Mar 2026 · 1 min

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David Trainer built machine-learning tools to extract cleaner earnings data from accounting filings. His Core Earnings Leaders Index ETF returned 27% last year versus the S&P 500's 18%, and has beaten the index by 47 percentage points over five years.

What if the secret to better stock investing isn't a better strategy? What if it's just better data? Our guest today is David Trainer, founder of New Constructs, and David has built a career out of dissatisfaction and dissatisfied with IFRS accounting data.
David, welcome. We created machine learning capabilities going back to 2003. We started building this to go through these really long, complex, full of legalese and finance jargon filings to get through the footnotes and the fine print and pull out the information needed to get to the truth about earnings. We're really excited that we have in the last year plus have an ETF that's out there live and trading that's absolutely crushing the market. The Core Earnings Leaders Index provided by Bloomberg was up 27% last year versus 18% for the S&P 500. So I think it's safe to say there's some pretty good signal in the data.
And I believe off the top of my head, that's beat the index by 47 percentage points, something like that over the past 5 years. Yep, that's right.