Risk Disclosure Statement

General Risk Warning

The sentiment analysis and scores provided by Discourses ("the Service") are intended to be used as one of many tools in your investment research process. They should not be relied upon as the sole basis for any investment decision.

Not Investment Advice

Discourses does not provide investment advice, financial advice, trading advice, or any other form of professional advice. The sentiment scores, analysis results, and any other information provided through our Service are for informational and educational purposes only.

• We are not a registered investment advisor, broker-dealer, or financial planner.
• We do not recommend any specific securities, investments, or investment strategies.
• Our sentiment scores do not constitute buy, sell, or hold recommendations.
• We do not guarantee the accuracy, completeness, or timeliness of any information provided.

You should consult with a qualified financial advisor, accountant, or attorney before making any investment decisions. Past performance of any investment, strategy, or sentiment signal does not guarantee future results.

Model Limitations

The Discourses Model implemented by Discourses, like all quantitative models, has inherent limitations:

• Historical Calibration: The model's methodology was developed using historical data patterns which may not persist in future market conditions.
• Text Interpretation: Natural language processing may misinterpret context, sarcasm, industry-specific terminology, or nuanced language.
• Regime Changes: Market dynamics change over time. Relationships between sentiment and returns observed historically may weaken or reverse.
• No Guarantee of Predictive Power: While our methodology is based on academic research available on SSRN, this does not guarantee profitable trading outcomes.
• Latency: By the time sentiment is detected and scored, market prices may have already adjusted to reflect the underlying information.

Market Risks

Investment and trading in financial markets involves numerous risks including, but not limited to:

• Market Risk: The value of investments can go down as well as up, and you may lose some or all of your invested capital.
• Volatility Risk: Financial markets can be highly volatile, with prices subject to rapid and substantial fluctuations.
• Liquidity Risk: You may not be able to buy or sell investments at your desired price or timing.
• Currency Risk: If you invest in assets denominated in foreign currencies, exchange rate movements can affect returns.
• Interest Rate Risk: Changes in interest rates can affect the value of various financial instruments.
• Credit Risk: The issuer of a security may default on their obligations.
• Systemic Risk: Broader economic or financial system disruptions can affect all investments.

Limitation of Liability

To the maximum extent permitted by applicable law:

• Discourses, its affiliates, officers, directors, employees, agents, and licensors shall not be liable for any direct, indirect, incidental, special, consequential, or punitive damages arising from your use of the Service.
• We shall not be liable for any losses, damages, or costs arising from investment decisions you make based on sentiment analysis or any other information provided through our Service.
• We make no warranties, express or implied, regarding the accuracy, reliability, completeness, or suitability of the sentiment analysis for any particular purpose.

The Service is provided "as is" and "as available" without any warranties of any kind.

Your Responsibility

By using Discourses, you acknowledge and agree that:

• You are solely responsible for your own investment decisions and their outcomes.
• You will conduct your own due diligence before making any investment.
• You understand the risks associated with trading and investing in financial markets.
• You will not invest money that you cannot afford to lose.
• You will seek independent professional advice if you are uncertain about any investment decision.
• Our sentiment scores are one input among many you should consider, not a complete investment strategy.