Disclaimer

Not investment advice

Tailwind Macro publishes research, commentary and the output of systematic models for educational and informational purposes only. Nothing on this site, in the newsletter, in the members area or in any alert is a recommendation to buy, sell or hold any security, cryptocurrency, commodity, fund or other instrument. Nothing here is personalised to your situation. I am not a registered investment adviser, broker-dealer or financial planner, and no content here creates an adviser–client relationship.

Do your own work

Every investment decision is yours. Before acting on anything you read here, consider your own objectives, time horizon, tax position and tolerance for loss, and consult a licensed professional where appropriate. You are responsible for your own trades and for verifying anything you rely on.

Risk of loss

Markets carry the risk of loss, including loss of the full amount invested. Bitcoin, Ethereum and other digital assets are volatile and can lose most of their value in a short time. Leveraged, inverse and derivative products carry additional risks. Past performance, whether actual, backtested or forward tested, is no guarantee of future results.

Hypothetical and backtested results

Backtested figures shown on this site are hypothetical. They are produced by applying a set of rules to historical data after the fact. Hypothetical results have inherent limitations: they do not reflect actual trading, they may not account for all costs such as commissions, spreads, slippage, taxes and financing, and they are designed with the benefit of hindsight. Live model-portfolio results reflect a model, not an actual account, and your results would differ because of execution timing, fees, position sizes and account constraints. No representation is made that any account will or is likely to achieve results similar to those shown.

Signals, data and availability

Model signals, regime readings and allocations are generated by software from third-party data. Data can be late, revised or wrong, and software can fail. Signals may change without notice. I make no warranty that the site, the dashboard or any alert will be available, timely, complete or error-free, and I may change, suspend or discontinue any part of the service at any time.

My own positions

I trade my own money on the signals published here and may hold positions in the instruments discussed. I may buy or sell those positions at any time without notice. The timing and size of my own trades may differ from the published model.

Third parties

Subscriptions, payments and the newsletter are handled by Substack under its own terms and privacy policy. Links to other sites are provided for convenience; I do not control them and am not responsible for their content. I do not accept payment from any issuer, exchange or fund to feature an instrument.

Limitation of liability

To the fullest extent permitted by law, Tailwind Macro and its owner accept no liability for any loss or damage, direct or indirect, arising from the use of this site, the newsletter, the members area or any alert, or from any decision made in reliance on them.

Changes

This disclaimer may be updated from time to time. The date at the top is the date of the current version. Continued use of the site after a change means you accept the revised terms.

Contact

Questions about this disclaimer can be sent through the newsletter.