Investment Disclaimer

1. Not Investment Advice

ValueMarkers is a financial research and stock analysis platform operated by Oliva Real Estate Technology LLC, a Delaware limited liability company, doing business as ValueMarkers. THE SERVICE IS PROVIDED FOR INFORMATIONAL AND EDUCATIONAL PURPOSES ONLY.

Nothing on this platform constitutes, or is intended to constitute, investment advice, financial advice, tax advice, legal advice, a recommendation or endorsement of any particular security, portfolio, transaction, or investment strategy, or a solicitation to buy, sell, hold, or otherwise transact in any security. No fiduciary relationship is created between you and ValueMarkers by your use of the Service.

All content provided through the Service, including but not limited to VM Scores, Quality Triple Check ratings, DCF valuations, AI-generated analysis, screener results, guru portfolio data, community theses, blog posts, comparison pages, and any other information or analysis, should be treated as a starting point for your own independent research and not as a definitive recommendation or conclusion.

2. No Registration as Investment Advisor or Broker-Dealer

ValueMarkers is not registered as an investment adviser, broker-dealer, or financial planner with the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), any state securities regulatory authority, or any equivalent regulatory body in any jurisdiction worldwide, including but not limited to the Financial Conduct Authority (FCA) in the United Kingdom, the European Securities and Markets Authority (ESMA), or any national competent authority in the European Union.

Javier Sanz, founder of ValueMarkers, is a fintech executive with experience in financial services operations and technology. He is not a registered investment advisor, licensed financial planner, or registered representative. His background in financial technology and platform operations does not constitute qualification to provide personalized investment advice.

ValueMarkers does not hold any financial services license and does not provide services that require such licensing. The Service is a self-directed research tool designed for use by individuals making their own investment decisions independently.

3. Analytical Tools Are Not Recommendations

The following features are quantitative research tools, not buy or sell signals, and should not be interpreted as investment recommendations:

• VM Score (0-100): A composite metric combining valuation and fundamental quality indicators. A high score indicates that quantitative criteria are met; it does not mean a stock is a good investment for your personal situation
• Quality Triple Check: An assessment framework using Piotroski F-Score, Altman Z-Score, and other financial health indicators. These metrics evaluate historical financial statements and cannot predict future performance
• DCF Valuations: Discounted cash flow calculations based on assumptions about future growth, discount rates, and terminal values. DCF outputs are highly sensitive to input assumptions and should be stress-tested against multiple scenarios
• AI-Powered Analysis: Generated by artificial intelligence (Anthropic Claude). AI outputs may contain errors, inaccuracies, or misleading conclusions. AI analysis should never be the sole basis for any investment decision
• Guru Portfolio Data (13-F Filings): Based on publicly available SEC 13-F filings, which are reported with a 45-day lag and represent a snapshot at quarter-end. Gurus may have materially changed their positions by the time you view the data
• Screener Results: Filtered lists based on your selected criteria. Passing a screen does not indicate a stock is suitable for investment. Screens cannot evaluate qualitative factors
• Intrinsic Value Estimates: Model-based estimates that are inherently imprecise. Actual intrinsic value depends on factors that cannot be fully captured by any quantitative model

4. No Guarantee of Accuracy

Financial data displayed on ValueMarkers is sourced from third-party data providers, primarily Financial Modeling Prep (FMP). We do not independently verify, audit, or guarantee the accuracy, completeness, reliability, suitability, or timeliness of any data provided through the Service.

• Data may be delayed, incomplete, or contain errors from source providers
• Financial statements may be restated, revised, or amended by companies after publication
• Calculated indicators and scores may differ from those published by other platforms due to differences in methodology, data sources, or calculation timing
• Coverage varies by geography; some exchanges may have less comprehensive or less timely data
• Currency conversions are approximate and may not reflect real-time exchange rates
• AI-generated content may contain factual errors, outdated information, or analytical inaccuracies

You must always verify critical information from primary sources, including SEC filings (EDGAR), company annual reports, and official exchange data, before making any investment decision.

5. Past Performance Is Not Indicative of Future Results

Past performance of any stock, index, investment strategy, score, indicator, backtest, or portfolio shown on ValueMarkers does not guarantee, predict, or indicate future results or performance. Historical data and backtested results have inherent limitations:

• Backtests are hypothetical and do not reflect actual trading. They do not account for transaction costs, slippage, market impact, taxes, or behavioral biases
• Historical patterns may not repeat in the future due to changes in market conditions, regulations, interest rates, or macroeconomic factors
• Survivorship bias may inflate the apparent performance of screening strategies (failed companies are removed from historical databases)
• Strategies that performed well in backtests may underperform significantly in live markets

6. Risk of Loss

Investing in securities involves substantial risk, including the possible loss of your entire investment. Stock prices are volatile and can decline significantly in value over short or extended periods. Value investing strategies, specifically, may underperform the broader market for prolonged periods. Concentrated positions carry higher risk than diversified portfolios.

You should only invest money that you can afford to lose entirely without affecting your financial stability, and you should consider your complete financial picture, including emergency reserves, insurance, debt obligations, and retirement needs, before making any investment.

7. Community Content and User-Generated Analysis

Investment theses, comments, ratings, and other content published by community members on ValueMarkers represent the personal opinions of those individuals. ValueMarkers does not endorse, verify, fact-check, or assume any responsibility for the accuracy, completeness, or reliability of user-generated content.

Community members may have financial interests, including long or short positions, in the securities they discuss. They are not required to disclose all potential conflicts of interest. You should be aware of and consider these potential conflicts when evaluating community content.

Never rely solely on community content, user ratings, or user-published analysis for investment decisions.

8. Consult a Qualified Professional

Before making any investment decision, you should consult with a qualified, licensed financial advisor, tax professional, or other appropriate professional who can evaluate your specific financial situation, investment objectives, risk tolerance, time horizon, and tax circumstances. ValueMarkers is a research tool designed to supplement, not replace, professional financial guidance.

If you are unsure whether an investment is appropriate for you, seek professional advice before proceeding.

9. No Endorsement of Third-Party Products or Services

References to third-party products, services, companies, or websites on ValueMarkers (including competitor comparisons, tool reviews, and external links) are provided for informational purposes only and do not constitute endorsement, recommendation, or affiliation. We are not responsible for the content, accuracy, or practices of any third-party website or service.

10. Forward-Looking Statements

Certain content on ValueMarkers may contain forward-looking statements, projections, price targets, estimated intrinsic values, or growth assumptions. These statements are based on current expectations, assumptions, and available data, and are subject to significant uncertainties and risks. Actual results may differ materially from any projection, estimate, or forward-looking statement. You should not place undue reliance on forward-looking information.

11. Limitation of Liability for Investment Decisions

YOU ACKNOWLEDGE AND AGREE THAT VALUEMARKERS, ITS MEMBERS, MANAGERS, OFFICERS, EMPLOYEES, AGENTS, AND AFFILIATES SHALL HAVE NO LIABILITY WHATSOEVER FOR ANY INVESTMENT DECISIONS YOU MAKE BASED ON INFORMATION, DATA, SCORES, ANALYSIS, OR ANY OTHER CONTENT OBTAINED THROUGH THE SERVICE. ALL INVESTMENT DECISIONS ARE MADE SOLELY AT YOUR OWN RISK.

Without limiting the foregoing, ValueMarkers shall not be liable for any losses, damages, or diminution in the value of securities arising from your reliance on: (a) VM Scores, Quality Triple Check ratings, or any other scoring or ranking system; (b) DCF valuations or intrinsic value estimates; (c) AI-generated analysis or recommendations; (d) 13-F filing data or guru portfolio information; (e) screener results or stock lists; (f) community-published theses or comments; or (g) any other information available through the Service.

This limitation of liability is in addition to, and not in lieu of, the general limitation of liability set forth in our Terms of Service.

12. International Users

The Service is operated from the United States. If you access the Service from outside the United States, you do so at your own initiative and are responsible for compliance with local laws and regulations, including securities laws, data protection laws, and tax obligations. The information on ValueMarkers may not be appropriate or available for use in all jurisdictions. Some financial products or strategies discussed on the Service may not be available or legal in your jurisdiction.

13. Changes to This Disclaimer

We may update this Investment Disclaimer from time to time. Changes are effective upon posting. We encourage you to review this page periodically. Your continued use of the Service after changes are posted constitutes acceptance of the updated Disclaimer.

15. Contact Information

For questions about this Investment Disclaimer, contact: