For Investment Fund Managers ·
What you'll accomplish
A year of annual reports and call transcripts for one company is hard to search and harder to compare. In this setup, you load the public documents into a Gemini Notebook (formerly NotebookLM), ask about one topic at a time, and get short notes with a citation behind each statement. You open every citation and confirm it in the source.
The notebook is a reading aid. It adds no view, and you decide what any of it means.
What you'll need
Data caution for this workflow. Use public documents only, and only those your firm may use. Material non-public information never goes into any AI tool, a notebook included. Do not upload a document you received under an embargo, from a company meeting, or from an expert call. Content from a terminal, a data provider or a sell-side research service is licensed, so check the licence terms with your CCO before any of it is uploaded. Holdings that are not public, trade ideas, models, investor names and consultant scores stay in the firm's systems. Google's Workspace page says uploaded sources stay private unless you share a notebook, and it states that uploaded data is not used for model training. Confirm the current terms for your own account type on Google's pages, and ask your CCO which tools are approved and how chats are kept.
The practice company is invented, so no real source is needed. Make four plain text files with these lines, naming them "company-d-call-q4-2025.txt", "company-d-call-q1-2026.txt", "company-d-call-q2-2026.txt" and "company-d-call-q3-2026.txt".
Company D call, fourth quarter 2025 (INVENTED). Page 3: "We plan to hire in the support team during the first half."
Company D call, first quarter 2026 (INVENTED). Page 2: "We have opened two support roles and filled none yet."
Company D call, second quarter 2026 (INVENTED). Page 4: "Both support roles are filled. Hiring in engineering is on hold."
Company D call, third quarter 2026 (INVENTED). Page 2: "We have no open roles this quarter."
Put each line in its own file.
What you should see: Four short files, each with one invented statement. Troubleshooting: For real work, keep the page numbers in your saved transcripts. They make each citation easier to check.
What you should see: A new notebook with an area for sources. Troubleshooting: NotebookLM was renamed Gemini Notebook. If you find it under the old name, it is the same product. If you cannot find it, ask your IT contact whether your Workspace admin has turned it on.
Google's page lists these source types: Google Docs, Google Slides, PDFs, text and markdown files, web URLs, pasted text, public YouTube video links and audio files. Each source can be up to 500,000 words or 200MB for uploaded files.
What you should see: Four sources listed in a sources panel. Troubleshooting: If a PDF is a scan of an image, the text may not be readable. Use a text version of the document when you can.
Type this into the notebook's chat box:
What did management say about hiring across these four documents? For each statement, quote or closely paraphrase the passage and give the citation. Add no opinion and no information that is not in the sources. If a source does not discuss the topic, say so.
What you should see: Four short notes, one for each call, each with a numbered citation. Troubleshooting: If a note has no citation, ask for the passage behind it. If none exists, discard the note.
What you should see: For the practice set, the Q4 2025 note matches the plan to hire in the first half, the Q1 2026 note matches two roles opened and none filled, the Q2 2026 note matches both roles filled and engineering hiring on hold, and the Q3 2026 note matches no open roles. Troubleshooting: If a citation points to the wrong place, treat the note as unverified until you find the real passage yourself.
The notes are material for your thinking. Any view on the company is yours, written in your own research file, and nothing in the notebook adds to it.
What changed between two calls:
Compare what management said about [topic] in the first and last documents. List the differences as short statements with citations. Do not interpret them.
Questions management avoided:
List topics that analysts asked about in the Q&A sections where the answer did not address the question. Quote the question and the answer with citations. Do not characterize management.
Terms used:
List every place where management used the term "[term]" and quote the sentence with its citation.
Gaps:
List topics discussed in the earliest document that are not mentioned in the latest one. Cite the earliest passage for each.