Legal
Disclaimer
Effective date: 1 April 2026
Not Investment Advice
Nothing published by Qapital Research on this platform, on Substack, or in any other medium constitutes personalised investment advice, a solicitation to buy or sell any financial instrument, or an offer to provide investment management services. All content is for informational and research purposes only.
1. Independence
Qapital Research is an independent research operation. We are not affiliated with any bank, brokerage, fund manager, or listed company. We do not receive compensation from companies we cover, directly or indirectly. Coverage decisions are made independently and are not available for purchase.
Analysts and operators of Qapital Research may personally hold positions in securities discussed on the Platform. Where a position exists, this may be disclosed within the relevant analysis, but disclosure is not guaranteed for all positions at all times. You should assume that analysts may hold positions in covered securities.
2. Accuracy and Completeness
All research published by Qapital Research is prepared in good faith using publicly available information including annual reports, regulatory filings, earnings releases, market data, and news sources. We make no warranty, express or implied, as to the accuracy, completeness, or timeliness of any content.
Financial data and scoring outputs reflect the information available at the time of analysis. They may become outdated as companies publish new information. Ratings, scores, and prescriptions are subject to revision without notice.
Past analysis performance does not guarantee the accuracy of future analysis. Perception gap signals, quality scores, and fair value ranges are analytical outputs and not predictions of future price movements.
3. No Personalised Advice
Qapital Research does not know your personal financial situation, investment objectives, risk tolerance, tax position, or any other factor relevant to personalised investment decisions. Our research is general in nature and is not tailored to any individual.
Nothing on this Platform should be interpreted as a recommendation to buy, sell, or hold any security. Before making any investment decision, you should conduct your own due diligence and, where appropriate, consult a regulated financial adviser who is authorised to provide personalised advice in your jurisdiction.
4. Regulatory Status
Qapital Research is not a licensed investment adviser, financial institution, or regulated entity under the Dutch Financial Supervision Act (Wft) or equivalent legislation in any other jurisdiction. We do not provide services that require such authorisation.
Accessing this Platform from jurisdictions where such content is restricted or regulated is at the user's own risk. We make no representation that the Platform or its content is appropriate or lawful for use in any particular jurisdiction outside the Netherlands.
5. Third-Party Information
Research may reference or cite data from third-party sources including company filings, financial data providers, and news outlets. Qapital Research is not responsible for the accuracy or completeness of third-party data and does not endorse any third-party source referenced in our analysis.
6. No Liability
Qapital Research and its operators accept no liability for any loss or damage, whether direct, indirect, or consequential, arising from reliance on research, scores, ratings, prescriptions, or any other content published on the Platform or via Substack.
Investment in financial markets involves risk. The value of investments and the income from them can fall as well as rise. You may get back less than you invest.
7. Contact
Questions regarding this disclaimer can be directed to research@qapital.nl.