Disclaimer.

LikeFolio is a consumer-behavior research firm. Everything we publish — model portfolios, playbooks, scores, alerts, newsletters, podcasts, videos, social posts, and webinars — is provided for informational and educational purposes only.

LikeFolio is not a registered investment adviser, broker-dealer, or financial planner. We do not provide personalized investment advice, tax advice, legal advice, accounting advice, or recommendations regarding the suitability of any security for any particular person. Nothing we publish should be construed as a solicitation, offer, or recommendation to buy, sell, hold, or short any security.

You are responsible for your own investment decisions. Before acting on anything you read on the Services, consult a licensed financial professional who knows your circumstances.

Performance figures, win rates, average returns, track records, and historical examples shown anywhere on the Services — including the “Track Record” page, marquee closed-position cards, and the “every position that doubled” grid — reflect past results only.

Past performance is not indicative of, and does not guarantee, future results. Markets fluctuate. Strategies that have worked may stop working. Specific positions we highlight have lost value before and may do so again. The Services do not guarantee any specific outcome, profit, win rate, or return.

When we display aggregate statistics (e.g., “51% win rate, +83% average winner”) they are computed from positions that LikeFolio has publicly published. The set excludes private notes, in-progress drafts, and any positions never disclosed to subscribers. Numbers are unaudited unless explicitly stated.

Investing in securities involves risk of loss, including loss of principal. The value of any security can go down as well as up. Some strategies discussed in our Services — including options, leveraged products, and small-cap or pre-revenue equities — carry heightened risk and are not suitable for all investors.

You should only invest amounts you can afford to lose.

Any back-tested, hypothetical, or model performance shown is, by definition, the product of retrospective application of a strategy to historical data. Hypothetical results have inherent limitations — they do not represent actual trading and cannot fully account for the impact of financial risk in actual trading, including the ability to withstand losses or adhere to a particular trading program in the face of trading losses.

LikeFolio, its officers, employees, and affiliated persons (including Andy Swan and Landon Swan) may hold positions in some or all of the securities discussed on the Services. We may buy, sell, or hold these positions at any time, including times that may differ from public recommendations. We may have an economic interest in the performance of those securities.

Our public model portfolios are designed as research products, not as a real-money trading account, and the prices, fills, and timing of public “positions” may not match what any individual could achieve in their own brokerage account.

The Services include data, links, and excerpts from third parties — public filings, news outlets, brokerage data feeds, search-trend providers, app-store data, and others. We believe these sources are reliable but we do not independently verify every data point and do not warrant the accuracy, completeness, or timeliness of any third-party information.

Our research often includes forward-looking statements about market conditions, company performance, consumer trends, and security prices. These statements involve known and unknown risks and uncertainties. Actual results may differ materially from any forward-looking statements made on the Services.

Testimonials displayed on the Services are from real LikeFolio subscribers, used with permission. They reflect those subscribers' individual experiences and are not representative of the results other subscribers will achieve. Testimonials are not paid endorsements. Results are not typical and not guaranteed.

References to media appearances (Schwab Network, CNBC, Bloomberg, Fox Business, Fast Company, and others) describe historical coverage and partnerships only. They do not imply endorsement of LikeFolio by those outlets or by their parent companies.

Use of the Services does not create an advisor-client, fiduciary, or similar relationship between you and LikeFolio. We owe no duty to monitor any holdings you maintain or to update published research after it has been issued.

The Services are operated from the United States. We make no representation that the Services are appropriate or available for use in other jurisdictions. If you access the Services from outside the United States, you do so on your own initiative and are responsible for compliance with local laws.

We may update this Disclaimer at any time by posting a revised version on this page. The revised version is effective when posted. Continued use of the Services after a revision constitutes acceptance of the revised Disclaimer.

Questions about this Disclaimer can be sent to support@likefolio.com.