First Signal

We give you the facts, the moves, and, of course, what we make of it all.

Disclaimer

Effective October 28, 2026

By reading First Signal, on this website or anywhere it is delivered, you accept this disclaimer.

  1. A publisher, not an adviser. First Signal is a publisher of financial information, not an investment adviser. It relies on the publisher's exclusion from the definition of investment adviser in Section 202(a)(11)(D) of the Investment Advisers Act of 1940 and in the corresponding state securities laws.
  2. Not registered. Neither First Signal nor its author is registered as an investment adviser, broker-dealer or financial planner with the Securities and Exchange Commission, FINRA or any state.
  3. No investment advice. Nothing on this website or in any issue constitutes investment advice, a recommendation to buy, hold or sell any security, or an offer or solicitation to buy or sell any security.
  4. Impersonal. Everything we publish is general and is not tailored to any reader. We do not know your circumstances and cannot give you personal advice, and we do not answer requests for it.
  5. Opinion. Text marked as our read, our call, our guess or our odds is opinion as of the date of publication, and it may change without notice. Views on value or future prices are not price targets.
  6. Forecasts. Scenarios, odds and forecasts are speculative and rest on assumptions that may prove wrong.
  7. Positions. The author does not hold or trade any security named in The Call. The author may hold positions in other securities mentioned in First Signal, including broad index funds that own many of the companies we write about.
  8. Past performance. Past performance is not indicative of future results. Any record of The Call's results is hypothetical: it reflects no actual trading, commissions, taxes or slippage, and your results would differ.
  9. Risk. All investing involves risk, including the loss of principal.
  10. Accuracy. Information comes from sources believed to be reliable but is provided "as is", without any warranty of accuracy, completeness or timeliness. We have no duty to update it.
  11. Your decision. Do your own research and consult a licensed financial, legal or tax professional before making any investment decision.
  12. Liability. Use of First Signal is at your own risk. Neither First Signal nor its author is liable for any loss arising from its use.
  13. No compensation. First Signal receives no payment from any company it writes about.