Terms of use

Not investment advice

Everything on this site is editorial summary of publicly distributed investor letters. It is not investment advice, not a recommendation, and not an offer to buy or sell any security. We are not your adviser or broker. Do your own work.

Accuracy and timeliness

Ideas are summaries and may contain errors of interpretation. Positions described may have been reduced or exited long before publication. We make no warranty that any page is accurate, complete, or current.

Attribution and quotes

Quotes are reproduced from public investor letters for commentary and reference, and attributed to the fund. Source documents are not republished. If you represent a fund and want an idea corrected or removed, contact us and we will act on it.

Acceptable use

You may read, link to, and cite these pages with attribution. Automated bulk scraping that degrades the service is not permitted.

Liability

To the fullest extent permitted by law, SmartFlow Trading is not liable for any loss arising from use of this site or reliance on its content.

Changes

These terms may be updated as the site evolves. Continued use means you accept the current version.