Risk disclosure.

Investing and trading in financial instruments carries the risk of losing money, up to the entire capital invested. This page is not boilerplate: it is the reason our method always starts from risk and not from return.

Golden Bear Capital's content, including watchlists, analysis, positions shared in the chat, software data and educational material, is provided for information and education. It describes what we do with our own capital and why. It does not take into account your financial situation, goals or risk tolerance, and it is not a personalised recommendation. Before investing, consider consulting a licensed adviser.

The authors trade their own capital and may hold, open or close positions in the instruments discussed, including at times different from when they write about them. We say so explicitly in paid content when it happens, but you should always assume it is possible.

Past results, ours or anyone else's, are not indicative of future ones. A method that worked in one market may not work in the next. The examples in the educational material are chosen to explain a concept, not to represent average performance.

Small and mid-cap stocks, recent listings and fast-moving names can show high volatility, poor liquidity and price gaps that make it impossible to execute a stop at the intended level. Short selling exposes you to potentially unlimited losses. Leverage amplifies both gains and losses. Currencies, commissions and the tax rules of your country affect the outcome.

Data, scanners, indicators and scores shown in the software or described in the material may contain errors, delays or interruptions. No tool replaces your judgement.

Every decision to buy or sell is yours and the responsibility for the outcome is yours. Do not invest money you cannot afford to lose.