Terms

The terms, plainly.

These are the terms of the Moretus membership and free tier. They are written in plain language on purpose. Where something is not yet final, this page says so.

The offer

Founding membership costs €1,000, paid once. It buys every research note we publish, for as long as we publish, delivered by email to all members at the same time. There are 150 founding seats, assigned in payment order. After seat 150, membership is €1,000 a year.

The free tier

Free subscribers receive an email the day each idea publishes, announcing its existence and shape — never the name. The name and a public one-paragraph thesis follow after a reveal window of roughly 30 days.

Not investment advice

Our research is an impersonal publication, produced without regard to any reader’s circumstances and delivered to everyone at once. It is not personalized investment advice, and we will never answer whether you, individually, should buy or sell anything. The decision and the sizing are yours.

Positions and signals

Accounts we manage may hold positions in instruments we publish on. Any such position is disclosed on page one of the note, as of publication day only. We do not update that disclosure afterwards, we do not signal buys or exits, and we do not run a model portfolio.

Seller of record and refunds

Not yet final. The seller of record and the refund terms are finalised when the payment provider is wired, before checkout opens. This page will state both plainly at that point.

Governing law

To be specified.