By using this website you understand and agree to the terms and conditions. 

This site is not investment advice. It is for educational and informational purposes only as a resource for information about active portfolio management strategies. This is a site for scholarly research, not a commercial use.

The views and beliefs expressed here are those of the author through at the time of writing and are subject to change at any time. These views and beliefs should not be relied upon as individual investment advice, as securities recommendations, or as an indication of trading intent. It does not take into account any investor particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. If you have a specific question or seek advice, you may contact us. Investment Strategies mentioned are for illustrative purposes only and may not be relied upon as individual investment advice or as an indication of trading intent on behalf of any investment program.

Active or tactical portfolio management may not be suitable for all investors. There is no guarantee that tactical asset management or any strategy will be successful. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results.

Most of the comments made on this blog will be in regard to beliefs about active portfolio management decision-making. However, there will be some comments about the general market, too. Do not assume your perception of this material is accurate.  What you believe you read is true for you, but may not be an accurate interpretation. Consider that you may misinterpret what you see or read and it may not at reflect what is written. For example, if I post an example of investor sentiment being excessively bullish or bearish, don’t assume that says anything about my own sentiment or positions in the market or that I am implying you should trade in either direction. If you believe by “following my comments” on the blog is even remotely the same thing as “following my trades”; you are mistaken. Such comments about a market trend, sentiment, or any security are general comments for educational purposes. In fact, just as we could make a comment that you misinterpret, we could also make a comment that could be the opposite of our market position at the time. For example, a comment that optimism is at excessive levels does not imply we have sold our positions or are short that market. Although, it is possible a person could misinterpret it that way. This is in no way investment advice, a solicitation or an offer to sell securities or investment advisory services.

We do not intentionally disclose positions we buy or sell or hold in our portfolio. Shell Capital Management, LLC officers and/or employees, may have long or short positions in the securities discussed herein and may purchase or sell such securities without notice. We use methods to evaluate securities and markets which may, at times, produce contradictory recommendations with respect to the same securities. For example, a trend following method will directly conflict with a counter-trend method.

Shell Capital Management, LLC any of its affiliates or employees, or any third party data provider, shall not have any liability for any loss sustained by anyone who has relied on the information contained in any publication. All statements or comments expressed herein are subject to change without notice, and you should always obtain your own current information and perform due diligence before making your trading decisions. Your decisions are you own and they are your responsibility.

The data and analysis contained herein are provided "as is" and without warranty of any kind, either expressed or implied.

Past performance is no guarantee or assurance of future results. Nothing on this website should be interpreted to state or imply that past results are an indication of future performance.

Information, charts, etc. is prepared with sources we believe to be reliable, but are not guaranteed. 

In any event hypothetical performance, back-tested performance, or simulated performance is discussed, please note: Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under- or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

Any reproduction of this material should source Shell Capital Management, LLC and  www.AsymmetricInvestmentReturns.com

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