Terms & Disclaimer
Research, published for information.
Everything on CompoundEU is written for information and research purposes. Nothing published here is investment advice, a recommendation, or an offer to buy or sell any security. This page is the long version of that sentence.
- Is
- Independent research, published for information.
- Is not
- Advice, a recommendation, or an offer to buy or sell.
- Quoting
- A passage with attribution and a link, freely. The rest, by asking.
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What this is not
The line at the foot of every page, at the length it deserves.
- Not investment advice
- Advice is a judgement about one person’s circumstances. A piece here is written for whoever reads it and knows nothing about you — not your objectives, your horizon, your tax position, what you already own, or how much of a loss you could absorb. Nothing published on this site can be advice, because none of it is addressed to you.
- Not a recommendation
- A piece may conclude that a business is exceptional, that a price is wrong, or that a company is not worth valuing at all. That is a view, argued in the open with its assumptions named and the evidence that would overturn it stated. It is not an instruction to buy, to sell, or to hold anything.
- Not an offer
- Nothing here is an offer or a solicitation to buy or sell any security, or to invest in any fund, product or scheme. CompoundEU manages no money for anyone and sells no financial product. The publication is the whole of what it does.
What it is worth
The analysis is built from public sources — annual reports, segment disclosure, company announcements and public data — and from reasoning stated in full so that you can check it rather than take it. Where a figure is estimated rather than reported, the piece says so.
None of that makes it correct. A figure can be misread, a source can be wrong, an argument can be sound and still rest on an assumption that does not hold. No piece is checked by anyone else before it is published, and no accuracy or completeness is warranted here.
A piece also describes the world as it stood on the day it was published, and it is not rewritten as that world moves on. The date on a piece is part of what it says.
A factual error is the exception, and it is corrected rather than left standing. The fix is made in the piece itself and recorded at the foot of it, with the date it was made and a line saying what changed. Nothing is amended quietly: a piece that has been corrected says so on its own page.
So verify anything you would act on against the primary source, and reach your own conclusion. That is not a formality: it is the only use this work is fit for.
Who carries the decision
You do. Reading CompoundEU creates no advisory relationship and no duty of any kind: every investment decision you make after reading is your own, taken on your own assessment, and its outcome is yours as well.
To the fullest extent permitted, CompoundEU accepts no liability for any loss or damage arising from the use of, or reliance on, anything published here — including losses on investments, decisions taken or not taken, and errors or omissions in the research itself.
The site is offered as it is. It may be unavailable, a page may be withdrawn, and no promise is made that publication continues.
Using the work
The text, the analysis and the charts on this site belong to CompoundEU.
Quote from a piece as you would quote from anything else: a passage, attributed to CompoundEU, with a link to the piece it came from. That is welcome and needs no permission.
Republishing a piece in full or in substantial part, translating it, redistributing it, or reproducing its charts elsewhere needs permission first. Ask at info@compoundeu.com — the answer is usually yes.
Links out
A research piece is mostly its sources, so pieces link out — to filings, company sites, regulators and reporting elsewhere. Those pages belong to whoever runs them. CompoundEU does not control what is on them, does not check them again after linking, and is not responsible for their content, their accuracy or what they do with your data.
A link is a citation, not an endorsement.
Questions, and changes
Anything about this page goes to info@compoundeu.com. What CompoundEU does with a reader’s email address is a separate matter, and it is set out in the Privacy Policy.
These terms can change. If they do, this page changes with them and the date changes too. That date is the only record of a revision this page keeps, so it is worth reading before the rest.
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