Disclosures

Short version: this is an educational publication with no positions, no sponsors, and no trackers. The details, stated plainly.

Not advice

Everything on this site is general education about how markets and businesses work. Nothing here is investment advice, a recommendation, a solicitation, or an offer of any kind — and nothing here accounts for any reader's circumstances, because this site knows nothing about them.

Markets described here are frequently small, illiquid, and unforgiving of errors. Anyone making an actual allocation or acquisition decision should engage qualified professional advisers who are accountable to them.

No positions, no compensation

• This site does not hold, disclose, or claim any investment position in anything it writes about, and publishes no track record.
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• If either of those facts ever changes, this page changes first.

Accuracy and corrections

Essays are checked against public sources before publishing, and mistakes still happen. When something is wrong, the page is corrected in place at the same URL with a revision date — nothing is quietly rewritten or republished to look fresh. Corrections are welcome: send a correction.

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