Ownership Disclosure & Trading Restrictions

This web site and the related email newsletter communications is published by Business Financial Publishing, LLC (BFP). BFP owns and operates this and other web sites that publish information and personal opinions related to the financial markets, including stocks, bonds, mutual funds, and options. BFP also operates under the Wyatt Investment Research brand name.

BFP aims to assist individual investors by providing them with information and educational lessons related to a wide variety of investments and strategies. Our goal as publishers of financial information is to be as independent as possible and to act in the best interest of our readers.

We strive to find the best possible investments for our subscribers, and in no way want that to be tarnished. For this reason, we have decided to issue a formal disclosure policy.

BFP encourages its personnel to invest in individual stocks. We believe that in doing so, our personnel are better able to understand the stock market and share this knowledge and their personal experiences with subscribers. We encourage our personnel to invest, and have put in place strict policies in order to avoid any conflicts and assure complete disclosure of ownership of securities about which we publish information and opinions.

We permit our personnel to invest in companies discussed within our web sites and publications. However we have put in place strict restrictions and disclosure policies in order to put the interests of our subscribers first and foremost.

BFP personnel include all full time employees and select independent contractors involved in investment research and writing for our web sites and publications. BFP believes that these policies are in the best interest of our company, and our subscribers, and are intended to help our personnel avoid violation of the applicable state and federal laws. Personnel who violate these formal company policies are subject to termination, following a thorough review and consideration of the facts and circumstances.

Disclosure

Our full disclosure policy is designed to keep you fully aware of any stocks that are owned by personnel of BFP and also discussed within the web site and publication.

When we mention a company within an issue of one of our paid subscription investment newsletter advisories, and an employee or writer owns the stock in an investment account they control (directly or indirectly), that position is fully disclosed.

All companies covered within the newsletter that are also owned by employees are listed at the bottom of each issue or article in the Disclaimer, whether the issue is sent by email or posted on the web site.

Trading Restrictions

In addition to full disclosure, we have also developed trading restrictions that apply to all personnel. These restrictions apply to stocks covered within and held within the model portfolio of a paid subscription investment newsletter advisory.

Once the Editor or writers have decided to begin coverage of a new company, that company is placed on a "Restricted List" which bars trading in a company effectively immediately, and further bans trading for five days after the date of the publishing of that article. Employees must disclose any positions in companies on the Restricted List immediately.
In the event that BFP Personnel do own shares, BFP will not publish an initial report that company until five business days have passed from the date of the most recent transaction.
BFP Personnel cannot buy or sell shares for five trading days after the issuance of an initial report on a company. Since many companies are mentioned on a weekly basis in the Portfolio Update issues, this restriction only applies to initial research reports.
BFP personnel can not "tip" non-employees of a report which will be written about a specific company in advance

Additionally, BFP personnel are restricted from trading in the shares of publicly traded companies that are currently purchasing advertising from our company. This applies to companies that have been the subject of advertisements regardless of whether the advertisement was paid for by the company directly or a third party.