Disclaimer

For information and education only. Not investment advice, not a recommendation or offer to buy or sell anything. Model and historical data; markets involve risk of loss. Beta: experimental and may contain errors.

1. Beta service

Vesper Brief is an early-stage beta. It is experimental and is not a production-grade or professionally supported service. Reports are generated automatically and may contain errors, gaps, formatting problems or stale data, and pages, features and wording can change or disappear at any time. Do not rely on it for any decision, and do not build anything that depends on it.

2. Information only, not advice

Everything on Vesper Brief is general information and educational research. Nothing here is investment, financial, legal, tax or accounting advice, and nothing is an offer, solicitation or recommendation to buy, sell or hold any security, fund, currency, crypto-asset or other instrument. Nothing is personalised: it does not consider your objectives, finances, risk tolerance or circumstances. Rankings, scores, labels, tiers and market-state indicators are outputs of quantitative models and describe the model's view of past and current data, not a suggestion that you act. Obtain advice from a qualified, licensed professional before making any financial decision.

3. No adviser relationship; publisher status

Reading this site does not create an adviser-client, fiduciary or any other professional relationship. The publisher is not providing investment advice, brokerage or portfolio-management services through this site. Vesper Brief operates as an impersonal financial publisher under the Investment Advisers Act of 1940 and applicable state laws. The publisher is not registered as an investment adviser or broker-dealer and does not provide personalized investment recommendations, manage client accounts, or hold client funds. All content is prepared for general public educational and research circulation only.

4. Risk of loss

All investing involves risk, including the possible loss of all principal. Leveraged and inverse products, concentrated positions, small companies and volatile markets can lose value quickly. You are solely responsible for your decisions and their results.

5. Leveraged and inverse ETFs

Some strategies and instruments shown on Vesper Brief involve 2x and 3x leveraged exchange-traded funds. These funds seek a multiple of an index's return for a single day and reset daily; over longer periods compounding can cause results to differ materially from the multiple, especially in volatile or sideways markets. They can lose most or all of their value quickly, are generally intended for short-term use by sophisticated investors, and are not suitable for many people. Historical drawdowns shown in the tables illustrate the scale of past losses and do not limit future ones.

6. Model, backtested and hypothetical results

Any performance, ranking, signal or return shown is historical, hypothetical or model-generated unless stated otherwise. Model and backtested results are prepared with hindsight, do not reflect actual trading, and ignore real-world frictions such as commissions, spreads, slippage, taxes, liquidity and market impact; they may also be affected by data errors or survivorship bias. Past performance, whether actual or modeled, is not indicative of future results. No representation is made that any person will or is likely to achieve results similar to those shown.

7. Delayed, incomplete and possibly wrong data

Reports are generated automatically from third-party and model data, are published with a delay, and may contain errors, omissions or stale information. Some pages show the model's most recent state, which can change at any time without notice. Do not rely on Vesper Brief for time-sensitive decisions. There is no obligation to update or correct any content.

8. Forward-looking statements

Statements about expectations, market conditions or scenarios are opinions and projections that involve uncertainty. Actual outcomes can differ materially and no assurance is given that any will occur.

9. Third-party data and sources

Market, company and economic data come from third parties that the publisher does not control. Links to or references to third-party sources are not endorsements. All trademarks and names belong to their owners and are used for identification only, without affiliation.

10. Possible conflicts of interest

The publisher and persons connected to it may at any time hold, buy or sell securities or instruments that are discussed or ranked on this site, including before or after publication, and may trade in ways that differ from what any report shows. No compensation is received from any company for its inclusion.

11. No warranty; limitation of liability

The site and all content are provided "as is" and "as available" without warranties of any kind, express or implied, including accuracy, completeness, timeliness, merchantability, fitness for a particular purpose and non-infringement. To the fullest extent permitted by law, the publisher and its owners, contributors and service providers are not liable for any direct, indirect, incidental, special, consequential or trading losses or lost profits arising from use of, or reliance on, the site or its content, even if advised of the possibility of such loss.

12. Your responsibility; eligibility

You use this site on your own initiative and at your own risk. It is not directed at anyone in a place where its publication or use would be unlawful or would require registration or licensing. You are responsible for complying with the laws that apply to you.

13. Intellectual property

Content on Vesper Brief is the publisher's, or used under licence. You may read it for personal, non-commercial use. Do not copy, redistribute, scrape or present it as your own or as advice to others without written permission.

14. Privacy

This site is static: it has no accounts, forms, comments or advertising, and sets no cookies of its own. Its host (Cloudflare) processes ordinary web-request data, such as IP addresses, to deliver and secure the site. If you email feedback, the message is used only to reply to you or improve the site.

15. Changes

This disclaimer and the site can change or be withdrawn at any time without notice. Continued use means you accept the current version.