Please read this important disclaimer before acting on any of the ideas or advice contained herein: The content of this website is published in the United States of America and persons who access it agree to do so in accordance with applicable U.S. law. All opinions expressed by Douglas Simmang on this blog are solely Mr. Simmang’s opinions and do not reflect the opinions of the firm. This information may have been previously disseminated by Douglas Simmang to clients or associates. You should not treat any opinion expressed by Mr. Simmang as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Mr. Simmang’s opinions are based upon information he considers reliable, but neither the firm nor its affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Simmang and the TCWC Blog are not under any obligation to update or correct any information provided on this website. Mr. Simmang’s statements and opinions are subject to change without notice. No part of Mr. Simmang’s compensation from the firm is related to the specific opinions he expresses. Past performance is not indicative of future results. Neither Douglas Simmang nor The Reformed Broker Blog guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on this website. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned on this website may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned on this website. Before acting on information on this website, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment advisor. Mr. Brown does not accept fees of any kind from the funds, bonds, equities or investment products discussed in return for their mention on this site. At any time, Mr. Brown may be long, short or neutral in client accounts or personal accounts in any of the securities mentioned. The information on this site is not to be construed as investment advice; it is for educational purposes only. Regarding links that appear on this blog: At times, the Reformed Broker blog will link to sources of information or other websites that he believes help illustrate a point or would be of interest to readers. Links from this site in no way constitute an endorsement of the opinions or advice contained on other sites. Lastly, please act like a responsible adult and think for yourself. I am a human being and make mistakes like any other human being. Please do not confuse any of my opinions with statements of absolute fact. As I do not charge for the opinions I express on this site, I also do not expect to be held accountable should you decide to act on anything you read here. Our new president has called for an “era of personal responsibility” and I hope you enjoy this website in exactly that spirit.