Research disclosures and risk

General research and education

Blockhaven is a financial research and educational publisher. It publishes market research and analysis for information and education: macroeconomic conditions, a morning market read, company filings and reported results, and guides. Its research and methods are available to its audience on the same terms, subject to the access level of each product. It is general and impersonal: nothing on the site takes your circumstances, objectives, tax position or risk tolerance into account.

Blockhaven does not manage customer investments or money, does not execute trades for readers, does not ask for your holdings or financial circumstances in order to make recommendations, and does not give individually tailored portfolio recommendations. Research may include opinions, estimates, scenarios, valuations, ratings and similar editorial analysis. As of the date shown at the top of this page, company pages describe what a company reported; they do not rate a security or say whether to buy, hold or sell it.

Not advice, not an offer

Nothing here is investment, legal, tax or accounting advice, or an offer or solicitation to buy or sell any security, digital asset or other instrument. Reading Blockhaven, or holding a free account, does not create an advisory or fiduciary relationship. You decide for yourself and may wish to consult a qualified professional who knows your situation. Blockhaven has no duty to update a publication after it is published.

Investing involves risk

Prices can fall as well as rise and you can lose some or all of the money you invest. Past behaviour does not predict future results, and there is no assurance that any condition, pattern or relationship described will repeat. Leverage, options and short positions can lose more than the amount invested.

Digital assets and related products are especially volatile, can be illiquid, are lightly regulated in some respects, and can fall to zero. Blockhaven's coverage of them, where it exists, is not a recommendation to hold them.

Data timing and revisions

Data is shown with the date or time it is as of, in Eastern Time where a market time applies. It may be delayed or later revised by its source, and a figure can differ from another provider's for the same period. A page that is stale, delayed or unavailable says so rather than showing an old figure as current. Nothing on the site is a real-time or live feed unless a page says exactly that.

Sources and reliability

Company Intelligence is built from public regulator filings and each company's own earnings release. Morning Intelligence uses public market and official-calendar sources. Macro uses a Blockhaven-published projection of public data. Where a fact was checked against a public source, the page says so; where it was not, the page says that instead. Public sources contain errors, are reported on different bases and can be restated, and Blockhaven does not audit them.

Blockhaven-derived measures and model uncertainty

Condition scores, regime labels and company reads are Blockhaven's own derived interpretations of the underlying data. They are descriptive, not forecasts, depend on choices Blockhaven made about inputs and thresholds, and their methods may change over time. Models simplify the world; they can be wrong in ways that are hard to see in advance, and a model that fitted the past may not fit the future.

Scenarios are not forecasts

A scenario or illustration shows what could follow from stated assumptions. It is not a prediction or a probability, and the assumptions may not hold. Illustrative figures are never presented as real data.

Hypothetical, backtested and live results

Blockhaven does not currently publish a performance record, a backtest or a model portfolio. Hypothetical, simulated and back-tested results, wherever they appear, have inherent limits: they are prepared with hindsight, do not reflect actual trading, and usually leave out costs, taxes, slippage, liquidity and market impact. They do not represent results anyone achieved and are not a guide to what you would have earned or will earn.

Automated and AI-assisted analysis

Blockhaven research may incorporate automated analysis, artificial intelligence tools and human editorial judgment. Such methods have limitations, and Blockhaven does not guarantee any particular analytical result or level of accuracy.

Some content is generated automatically from structured data by fixed rules. Automated and AI-assisted analysis can misread data, miss context, repeat an error in a source or state something false with confidence.

Trading, positions and conflicts of interest

Blockhaven LLC, its owner and affiliated persons may hold, purchase, sell, short or otherwise trade securities, options and other derivatives, digital assets and other financial instruments that are discussed in Blockhaven publications. Positions may change without notice and may differ from, or be contrary to, the views expressed in published research. Blockhaven does not manage customer investment accounts or execute trades on behalf of readers.

Blockhaven does not maintain or publish a list of holdings, and this notice does not say that any particular position is, or is not, held at any given time. It does not excuse anyone from laws against fraud, market manipulation or trading on material nonpublic information, and it does not replace a specific disclosure where one is required.

When a publication focuses on a particular security or digital asset, Blockhaven will disclose a known position or recent transaction by Blockhaven LLC or its owner where that interest is material to evaluating the analysis or its omission could mislead readers. Blockhaven does not publish an exhaustive list of holdings or transactions.

Compensation and affiliations

As of the date shown at the top of this page, Blockhaven receives no payment, sponsorship, affiliate or referral compensation, or other consideration, from any issuer, company or other third party in connection with its coverage of them. Arrangements of that kind may exist in the future. If they do, Blockhaven will make the disclosures that the law requires for the affected material. Blockhaven may charge readers for access to its own products; that is not compensation for coverage.

Regulatory status

Blockhaven makes no claim of registration with, approval by or exemption from registration by any government agency, regulator or self-regulatory organization, and none should be inferred from the site or from a disclaimer on it. Blockhaven publishes impersonal research for its audience as a whole.

Third-party material

Blockhaven publishes only material it has the right to publish. Sources are named and linked, and the site does not republish paid research, subscription reports or data it is not permitted to redistribute. Names, marks and data belong to their owners; their appearance is not an endorsement.

Corrections

Blockhaven corrects material errors it finds in published research or a Morning Intelligence edition, and notes the correction on the page where practical. To report one, write to info@blockhaven.io.