Disclosures

Not investment advice

Past performance does not guarantee future results. This is research, not investment advice. Nothing on this site or in the Unfair Signals product is a recommendation, solicitation, or offer to buy or sell any security, nor an endorsement of any investment strategy. We are not a registered investment adviser or broker-dealer, and nothing here is tailored to your financial situation, objectives, or risk tolerance. Do your own research and consult a licensed financial professional before making any investment decision.

Stance labels are alignment, not advice

Lens stance labels — Strong fit, Mixed, Weak fit, and No data yet — describe how a security aligns with a particular investing philosophy. They are not ratings, price targets, or buy/sell signals, and must not be read as a recommendation to take any action. A "Strong fit" means a stock satisfies a philosophy's criteria; it is not a prediction that the stock will rise.

The lenses and their namesakes

Each lens applies an investing philosophy associated with a well-known investor or framework (for example, "Durable Quality" reflects a Buffett-style approach). The lenses are not endorsed by, affiliated with, sponsored by, or representing those individuals or their firms, and no such relationship is implied. Namesakes are used to identify a recognized school of thought, nothing more. The primary label for every lens is its archetype (e.g. "Durable Quality"); the namesake is descriptive provenance only.

Hypothetical and illustrative performance

Performance figures shown on this site — including the "Receipts" table, per-lens scorecards, and any return, hit-rate, or net-alpha number — are hypothetical and illustrative. They do not represent the results of any actual account or any specific person's trading, and they have inherent limitations. Hypothetical results are prepared with the benefit of hindsight, do not account for trading costs, slippage, taxes, or liquidity, and do not reflect the impact of real capital. Net alpha figures are measured against the SPY ETF over the stated dates. When a lens has too little history to evaluate, we show "tracking · N days in" rather than a computed figure. No representation is made that any account will or is likely to achieve results similar to those shown.

Illustrative examples

Ticker examples, scores, "X of 8" tallies, smart-money figures, options-flow and dark-pool entries, and Ender's sample responses used throughout this site are illustrative examples chosen to demonstrate how the product works. They are not a current cut, a live recommendation, or a statement about any company's present condition.

Data sources and accuracy

Our analysis is generated from public filings (including SEC Form 4 and 13F filings), market data, and company disclosures. This data may be delayed, incomplete, restated, or wrong; 13F data in particular is reported with a significant lag. Scores, verdicts, and memos are analytical opinions produced by deterministic rubrics and an AI analyst, and they can be — and sometimes are — wrong. We publish our misses, but a published miss does not make the methodology suitable for your circumstances.

Invite-only; no solicitation

Access to the Unfair Signals product is invite-only and offered at our discretion. Requesting an invite does not create an advisory relationship and does not obligate either party. Marketing materials may describe features still in development.

Forward-looking statements

Any statements about future events, market conditions, or a security's prospects are forward-looking and inherently uncertain. Actual outcomes may differ materially. We undertake no obligation to update any statement.

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Questions about these disclosures can be raised through the contact path on this site. This page may be updated; the version in effect is the one published here.