TERMS AND CONDITIONS
Weiss Research is an economic research firm, which publishes investment newsletters. Its affiliate, Weiss Ratings is a ratings agency, which publishes letter grades on (a) the financial strength of financial institutions as well as (b) the relative safety and investment potential of stocks.
Both Weiss Research and Weiss Ratings (collectively “we” or “Weiss”) are information publishers (not investment advisors or registered securities broker/ dealers), and when individuals or organizations receive or use that information, whether with our without payment, they are subscribers (“Subscriber” or “you”).
The information we publish is based on our opinions plus statistical and financial data and independent research. Although we make every effort to provide the most accurate and updated information possible, our information cannot take into consideration your personal finances and goals, and therefore is not intended to be used as recommendations that are tailored to your individual circumstances.
The views expressed in Weiss publications are the authors' own opinions. Thus, our various publications by different authors may occasionally contain different opinions with regard to the same or similar securities.
Active trading in securities (including, without limitation, stocks, options, warrants, exchange-traded funds, mutual funds, precious metals, commodities and bonds) is considered speculative and involves risk of loss and volatility. Although we make every effort to provide guidance with the aim of protecting your principal, you can lose money. Therefore our information is generally not for all of your funds. If your goal for a certain portion of your funds is strictly capital preservation with virtually no chance of loss, we believe you should save those funds in conservative investments such as short-term US Treasury securities or equivalent. For more on prudent investing, see also the information available at the websites of the Securities and Exchange Commission at www.sec.gov and the Financial Industry Regulatory Authority at www.FINRA.org. Any money you allocate to speculative investments should be strictly the money you can afford to risk without jeopardizing your daily life, and without negatively impacting your plans for education, retirement, or long-term care.
The information we publish is derived from primary and secondary sources, including the U.S. government agencies, stock exchanges, as well as the financial institutions or publicly traded companies we cover. We believe our data sources are accurate, but we do not verify their accuracy independently. Therefore, we cannot guarantee that the information is always accurate or complete. Nor do we guarantee the success of any investment decision you may make, using our data, information, or recommendations.
Martin D. Weiss and J. Irving Weiss
Dr. Martin D. Weiss (“Dr. Weiss”) is the founder of both Weiss Research and Weiss Ratings. His father, J. Irving Weiss (1908 — 1997), was an investment analyst who began his career on Wall Street in 1929 as a stock broker and analyst.
Ultimate Stock Options
Ultimate Stock Options (“USO”) is an investment publication based on applying back tested data which consisted of the purchase and sale of options on a model portfolio using Weiss Ratings’ stock ratings models; Weiss Research’s model for identifying the onset and end of bear markets; and other research. Dr. Weiss has created USO by applying an option trading strategy based upon the following underlying principles:
(1) Beginning in the 1980s, Dr. Weiss combined a series of financial ratios, developed earlier by his father, to create computer models (“ratings models”) that rate the safety of banks and insurance companies for consumers. The ratings are published as letter grades “A” (excellent) through “F” (failed). The accuracy of the Weiss Ratings insurance company ratings model was validated by the U.S. Government Accountability (GAO) Office in 1994, which compared it to that of competing companies, A.M. Best, Moody’s, Standard & Poor’s, and Duff & Phelps (now a part of Fitch). The GAO found that A.M. Best was Weiss Ratings’ closest competitor and that Weiss Ratings outperformed A.M. Best by three to one in terms of warning consumers of subsequent insurance company failures. Despite this, and despite the fact that the accuracy of this ratings model continues to be considered high, that accuracy is not guaranteed.
(2) In 2003, Dr. Weiss began issuing similar letter grades on U.S.-traded stocks (Weiss’s first version of its stock ratings model), basing them on the combination of two computer models: One, derived from Dr. Weiss’s earlier bank and insurer safety models, produced an index to evaluate each company’s relative stability and sustainability (“The Weiss Safety Index”). The other produced an index to evaluate the likelihood and size of investor gains in their shares (“The Weiss Performance Index”). Weiss sold its ratings business to TheStreet in 2005 and then repurchased most of that same business in 2010. Weiss released a second version of its Weiss stock ratings in 2013, using the same logic and the same fundamental principles as those used in the first version.
The accuracy of the Weiss stock ratings models was validated by a study reported by The Wall Street Journal that compared the performance of Weiss Stock Ratings to those of all other major Wall Street banks and brokerage firms as well as several leading independent research organizations. This study showed that the Weiss stock ratings ranked #1 in performance among all the firms covered. Despite this, and despite the fact that the accuracy of the Weiss stock ratings model continues to be considered high, that accuracy is not guaranteed.
(3) In 2014, based on 11 years of real-time experience with stock ratings, Dr. Weiss created a model portfolio for his new Ultimate Stock Options service. The model primarily targets stocks for purchase by using three screens: The first screen selects strictly stocks that merit a Weiss “buy” rating (combing both the Weiss Safety Index and the Weiss Performance Index). The second screen further narrows down the choices by selecting only stocks that pass tests for liquidity. And the third screen ranks those final selects based on the numerical score of the Weiss Performance Index.
(4) Dr. Weiss tested the model portfolio with historical data of January 1, 2005 through August 31, 2014, using the following assumptions: The model portfolio buys the top ranked stocks, allocating equal funds to each. At the end of each month, if the list changes, the portfolio is rebalanced with the new list of stocks, allocating equal amounts of the month-end portfolio value to each stock. Assuming a portfolio that buys only the top ten stocks, portfolio gains for the period would be 791.0% of starting capital. Assuming the top 15 stocks, portfolio gains would be 725.1%. And assuming the top 20 stocks, the gains would be 506.8.
(5) To implement this model, Dr. Weiss established the following guidelines:
* Seek to buy the top 10 rated stocks.
* If the stock falls in rank to #11 through #20, hold or sell.
* If it falls to rank #21 or lower, sell.
(6) Dr. Weiss also created a model portfolio for USO. The model primarily targets call options for purchase from a selected list of stocks that merit a Weiss “buy” rating (combing the Weiss Overall Stock Ratings, the Weiss Performance Index and the Weiss Bear Market Indicator), and targets put options for purchase from a selected list of stocks that have a Weiss “sell” rating (combing the same basic tools as for calls).
(7) Dr. Weiss tested the model portfolio with historical data from January 1, 2005 through November 22, 2014, using the following assumptions: The model portfolio buys call options on Weiss buy-rated stocks (ranked B- or better), and put options on Weiss sell-rated stocks (ranked D+ or lower), that meet certain additional criteria to refine the selection process based on timing and liquidity factors, allocating equal funds to each trade.
Dr. Weiss’s Personal Brokerage Account and Trading
With some of his own funds, Dr. Weiss has opened a Fidelity Investments brokerage account dedicated to following the investment recommendations published in Ultimate Stock Options. In order avoid any questions of conflicts, after issuing a recommendation, Dr. Weiss always seeks to give subscribers the time and ability to enter their orders before he enters orders for his own account. All trade alert issues for Ultimate Stock Options will be sent via email before 10:30 AM Eastern time, but Dr. Weiss will wait two (2) hours before entering his orders.
In addition to receiving weekly alerts via email, subscribers can view copies of Dr. Weiss’s brokerage confirmations and statements, posted to the Ultimate Stock Options subscriber-only website. Dr. Weiss’s performance results as well as the results of each subscriber may vary considerably.
Examples of potential performance returns may sometimes be based on simulated, not actual, trades, assuming entry and exit prices that could have been obtained during regular market conditions. These entry and exit prices may not reflect costs of spreads, market delays, or fees and commissions. Thus similar returns may or may not be actually achieved by subscribers.
While every effort is made to evaluate the actual experience of subscribers, certain performance figures must be considered hypothetical, and past results are no guarantee of future performance. Hypothetical or simulated performance results have certain inherent limitations. Unlike in-the-money, real-time performance records, simulated results do not represent actual trading. Also, since the trades have not actually 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 can also benefit from hindsight. No representation or guarantee is made that any account will achieve profits or losses similar to those shown.
References to isolated examples of past performance are not intended to provide a total picture of portfolio results. Your results may vary considerably depending on series of factors, including: (a) when you begin or cease investing, (b) which recommendations you choose to act on, (c) how much money you choose to invest in each recommendation, (d) the specific prices you get, (e) the broker commissions you pay, (f) the interest income you earn on cash or funds that have not been invested, and (g) the number and magnitude of losing or winning trades you experience (“Individual Performance Factors”).
Use of Testimonials
The performance experienced by a subscriber as described in user comments and/or testimonials is not necessarily reflective of what you should expect to experience. Although we accept testimonials in good faith, we do not independently examine the business records or the specific investment results sometimes referred to by users in their testimonials. These results may not be typical, and your performance, if any, will vary depending upon Individual Performance Factors. There is also risk you will not make any money at all or could even lose money.
In the event that users do not provide us with a usable photograph or recordings of themselves, their testimonial text may be illustrated by photographs or recordings of others. However, the text of their testimonials are always reflected accurately, despite occasional editing for clarity or brevity. No one has been paid to share their stories.
Unless you are a member of our lifetime membership services, such as the Weiss Inner Circle, Money and Markets Inner Circle or Money and Markets Ultimate, your subscription will continue for the initial term of the subscription (the “Initial Term”). Then, unless you request otherwise, we will use the following subscription renewal procedure: (1) We will notify you ahead of time that your subscription will be renewed, giving you the opportunity to cancel. (2) If you do not cancel, prior to expiration of your Initial Term, we will a charge your credit card on file at the same discounted rate as your original subscription for a term equal to the Initial Term. (3) If you neglect to cancel, you can still cancel later, receiving a pro-rated refund on the unused portion of your subscription. (4) If you decide to subscribe again in the future, you may not be entitled to the discounted rate of your earlier subscription.
You may discontinue automatic renewal or cancel your subscription at any time by notifying our Customer Service Department. You can contact our Customer Service Department by telephone at (800) 291-8545 Monday through Friday between the hours of 8:30 a.m. and 5:30 p.m. EST. We will promptly confirm your cancellation via email, and your cancellation will take effect as soon as that email is transmitted. The terms of any refunds of fees for Paid Services are provided along with the offers for each product. It is your responsibility to read and understand the terms of the offer. If you have questions, please call our Customer Service Department at (800) 291-8545 or email them through our Contact Us web page. If you wish to change any of your delivery preferences you may visit our preference page. On that page you will have the opportunity to selectivity opt in or opt out to a variety of communications and services.
We then identify your submission strictly with the following information: Your first name, the first initial of your last name, and, occasionally, provided it is a large city, your city and state. Unless you request otherwise, when you make a user submission, you grant us, including any of our assignees, a worldwide, non-exclusive, sub-licensable (through multiple tiers), assignable, royalty-free, perpetual and irrevocable right to use, reproduce, distribute (through multiple tiers), create derivative works of, publicly perform, publicly display, digitally perform, make, have made, in any media now known or hereafter developed, for any purpose whatsoever, commercial or otherwise, without compensation to you. By providing a User Submission, you also acknowledge that the User Submission may be posted online or otherwise reproduced by Weiss, and you waive any privacy or publicity rights you may have relating to use of your fist name, last initial plus, occasionally, your city and state.
Weiss may, at its sole discretion, remove or prevent access to, in whole or in part, any online User Submission, for any reason or no reason, including any material it deems in violation of its standards. The disclaimers applicable to Outside Content (see “Third-Party Content and Advertisers” section below) apply to User Submissions.
By submitting your name, you allow Weiss to publish your comment/testimonial and you also state that:
If you discuss a specific publication in your comment, you are a current subscriber of that publication.
The information that you include in your comment is accurate and complete to the best of your knowledge.
You have no material connection to Weiss or its subsidiaries (i.e., you are not a current or former employee, or related to a current or former employee of and have not been offered, or provided, any compensation or item of value in exchange for providing a favorable comment.)
Third-Party Content and Advertisers
Certain areas of Weiss publications and/or websites may feature “Third-Party Content” (also sometimes called “External Sponsorships”), which is content identified as, or attributed to, an outside party other than Weiss, including, without limitation, articles licensed to Weiss and third-party advertisements. You understand that Third-Party Content (be it information, advertisements, articles, data, text, images, hyperlinks to the web pages of other divisions and organizations, or other content) displayed in Weiss publications and/or websites are the sole responsibility of the individual or entity that created such content. You acknowledge that Weiss is not the creator of Third-Party Content and, as such, Weiss does not guarantee the accuracy, integrity or quality of such content.
Weiss may also sell paid advertising in an online medium known as co-registration, whereby our customers have the opportunity, if they so desire, to also sign up for free publications offered by outside advertisers. You acknowledge that any business dealings you may have with such advertisers found on or through Weiss and its affiliates, including both free offers and offers that require payment, or any terms, conditions, warranties or representations associated with such dealings, are solely between you and that outside advertiser. You agree that Weiss shall not be responsible or liable for any loss or damage of any sort incurred as the result of any such dealings or as the result of the presence of such third-party advertisers on the Weiss web pages or in Weiss emails. We do not endorse or verify claims made by third-party advertisers and you may wish to consult with an independent, registered financial advisor or a licensed broker before buying or selling any security or investment recommended by an outside advertiser.
Limitations on Weiss’s Liability
Weiss’s liability, whether in contract, tort, negligence, or otherwise, shall be limited in the aggregate to direct and actual damages not to exceed the fees received you have paid Weiss for subscriptions. Weiss will not be liable for consequential, incidental, punitive, special, exemplary, or indirect damages resulting directly or indirectly from the use of, or reliance upon, any materials provided by Weiss. Without limitation, Weiss shall not be responsible or liable for any loss or damages related to, either directly or indirectly, (1) any decline in market value or loss of any investment; (2) a subscriber's inability to use, or any delay in accessing, the Weiss website or any other source of material provided by Weiss; (3) any absence of material on the Weiss website; (4) Weiss's failure to deliver, or delay in delivering, any material or (5) any kind of error in transmission of material; or (6) the use by Subscriber of any research to invest in any way which may be deemed unsuitable in accordance with certain industry standards. Weiss and Subscriber acknowledge that, without limitation, the above-enumerated conditions cannot be the probable cause of any breach of any agreement between Weiss and Subscriber. "No-risk" and "risk-free" refer solely to the subscription price refund policy.
Disclaimer of Warranty
ANY AND ALL MATERIAL PROVIDED BY WEISS IS PROVIDED "AS IS" AND WEISS MAKES NO WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
Weiss and Subscriber acknowledge that, without limitation, the above-enumerated conditions cannot be the probable cause of any breach of any agreement between Weiss and Subscriber. "No-risk" and "risk-free" refer solely to the subscription price refund policy.
Acknowledgement and Agreement
Notwithstanding any other agreement or other communications between Weiss and Subscriber to the contrary, receipt or use of any material provided by Weiss, at any time and through any means, whether directly or indirectly, represents acknowledgement by such person of this disclaimer and agreement with its terms and conditions.
Copyright NoticeWeiss is the copyright owner of all information contained in this service, except as otherwise indicated. Other parties’ trademarks and service marks that may be referred to herein are the property of their respective owners. You may print a copy of the information contained herein for your personal use only, but you may not reproduce or distribute the information to others or substantially copy the information on your own computer, server, or account with an outside server (such as in the cloud) without prior permission of Weiss. Use or reproduction of information from this service for any other purpose is expressly prohibited by law, and may result in civil and criminal penalties. Violators will be prosecuted to the maximum extent possible.