Nature of the publication. Socrates on Investing is an editorial publication created by Jonathan Castella, CFA. Its purpose is educational and informational. The publication presents research, analysis, history, and commentary on financial markets, asset classes, individual companies, and macroeconomic regimes. It is not a financial advisory service.
Not investment advice. Nothing on this site, in the newsletter, in the Cockpit Report, or in any other Socrates on Investing publication constitutes investment advice, financial advice, tax advice, legal advice, or any other form of professional advice. No content is tailored to any individual reader's circumstances, objectives, risk tolerance, financial position, or jurisdiction. Readers should consult a qualified, licensed adviser before making any investment decision.
No solicitation. The publication does not solicit the purchase or sale of any security, asset, or financial instrument. Any references to specific companies, securities, products, or strategies are for illustrative and educational purposes only. They are not recommendations.
No advisory relationship. Reading this publication, subscribing to the newsletter, or otherwise engaging with Socrates on Investing does not create a fiduciary, advisory, client, or any other professional relationship between the reader and Jonathan Castella or any related party.
Past performance and forward-looking statements. Past performance is not indicative of future results. Investments can lose value. Forward-looking statements, including projections, scenario analyses, and commentary on potential future outcomes, are inherently uncertain. Actual results may differ materially.
Sources and accuracy. The publication makes a good-faith effort to cite sources and report accurately. However, no representation is made as to the accuracy, completeness, or timeliness of any information presented. Information may be drawn from public reports, regulatory filings, press releases, news media, and industry analyses, all of which may contain errors, may be revised, or may be superseded.
Author positions. The author may hold, may at any time begin to hold, or may dispose of positions in any of the companies, securities, or assets discussed. Position disclosure on individual pieces, where relevant, is at the author's discretion.
Jurisdiction. This publication is made available globally. It is not directed at any particular jurisdiction. Some content may not be appropriate in all jurisdictions or for all categories of investors. It is the reader's responsibility to ensure that engagement with the content is permitted under the laws applicable to them.
Updates. This disclaimer may be updated from time to time. The most recent version is the version available on this page.