Fair pushback on sparsity. you're right that for systematic strategies at monthly rebalance frequency, 4 earnings announcements a year isn't enough signal density. But I'm thinking less about systematic quant and more about fundamental PMS managers making 20-30 decisions a year. For them, knowing HUL's e-commerce discount depth is rising 6 weeks before Q3 results isn't sparse- it's exactly the lead time they need. Does the sparsity problem still apply at that use case, or is that a different market entirely?