IMPORTANT RISK DISCLOSURE AND TERMS OF USE: PLEASE READ!
ODDS CORRELATION TRADER RISK AND NON-DISCLOSURE STATEMENT, AND AGREEMENT 1) RISK DISCLOSURE STATEMENT: ODDS CORRELATION TRADER (THE "SERVICE") IS OFFERED BY FISHBACK MANAGEMENT AND RESEARCH, INC. ("FMR"). THE SERVICE PROVIDES BULLISH AND BEARISH RECOMMENDATIONS ON STOCK INDEX PRODUCTS, SUCH AS ETFS AND INDEX OPTIONS. SUBSCRIBERS ARE FREE TO USE THE INDEX PRODUCT OF THEIR CHOICE. 2) HYPOTHETICAL RISK STATEMENT: ALL OF THE HISTORICAL EXAMPLES CONTAIN HYPOTHETICAL EXAMPLES FOR TESTING AND ILLUSTRATION PURPOSES. Even though ODDS CORRELATION TRADER does not provide futures trading advice, the CFTC provides an excellent description of the limitations of hypothetical trades, therefore we strongly suggest you read the following statement: THESE RESULTS ARE BASED ON SIMULATED OR HYPOTHETICAL PERFORMANCE RESULTS THAT HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE THE RESULTS SHOWN IN AN ACTUAL PERFORMANCE RECORD, THESE RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, BECAUSE THESE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THESE RESULTS MAY HAVE UNDER-OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED OR HYPOTHETICAL 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 PROFITS OR LOSSES SIMILAR TO THESE BEING SHOWN. 3) PROFESSIONAL INVESTORS: This subscription is offered to non-professional investors only. Subscription for financial professionals or other professional investors are available by contacting FMR's office. You attest that your are not a professional investor or that you have received a written waiver from FMR. Professional investors who subscribe as non-professionals risk having their subscription terminated without notice and other remedies. 4) TRADING BY THE AUTHOR: FMR, ITS PRINCIPALS, EMPLOYEES AND PARTNERS TRADE STOCKS, ETFS, OPTIONS AND FUTURES FOR THEIR OWN ACCOUNTS AND RESERVE THE RIGHT TO CONTINUE TRADING FOR THEIR OWN ACCOUNTS. FMR, its principals, employees and partners will not knowingly trade in advance of the general dissemination of trading ideas and recommendations, unless it is explicitly stated. There is, however, a possibility that when trading for these proprietary accounts, orders may be entered which are opposite or otherwise different from the trades and positions recommended for the Service. This may occur as a result of the use of different trading systems, trading with a different degree of leverage, or testing of new trading systems, among other reasons. The results of any such trading are confidential and are not available for inspection. 5) RISK OF ERRORS: ALL MATERIAL PROVIDED BY FMR IS BELIEVED TO BE RELIABLE, BUT FMR MAKES NO WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. ALL MATERIAL IS PROVIDED 'AS IS'. Due to the number of sources from which we obtain information, and the inherent risks of distribution, there may be omissions or inaccuracies in such information and services. FMR, its employees and contributors take every reasonable step to insure the integrity of the data. However, FMR, its owners and employees and contributors cannot and do not warrant the accuracy, completeness, currentness or fitness for a particular purpose of the information contained in our products and services. 6) NO PERFORMANCE GUARANTEE: PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS. The descriptions of the various trading methods taught and used by FMR describe the objectives of each. There are no guarantees that the stated objectives will be met. 7) CAUTIONS: Recommendations and opinions contained in our products and services reflect the judgment, as applicable, of FMR as of the date thereof, and are subject to change, and are based on certain assumptions, only some of which are noted herein. Different assumptions could yield substantially different results. You are cautioned that there is no universally accepted method for analyzing financial instruments, including futures. Further, FMR does not guarantee any results and there is no guarantee as to the liquidity of the instruments involved in its analysis. FMR, and its affiliates, and its respective officers, directors, shareholders and employees may sell or purchase, for their own account or for others, positions in options, securities, futures contracts, or derivative instruments which may be similar or different from the positions referred to herein. Neither the information nor the recommendations and opinions expressed herein constitutes an offer to sell or buy any option, security, futures contract, or derivative instrument. As a matter of policy, FMR does not give tax, accounting, regulatory or legal advice to subscribers. Subscribers therefore should consult their own advisors regarding the tax, accounting and legal implications of the recommended strategies before transactions are effected. 8) NON-DISCLOSURE: This service is intended for Subscriber's personal use only. This publication, in whole or in part, may not be reproduced, retransmitted, disseminated in any manner (including but not limited to verbal, electronic, telecommunications, or printed), sold, distributed, published, broadcast or circulated in any manner to anyone without the express prior written permission of FMR. 9) AUTO-TRADING/LETTER OF DIRECTION: ODDS Correlation Trader is an index trading subscription service, supplying market information to subscribers on a regularly scheduled basis. No specifically tailored advice is given to individuals. If you are an individual who chooses to have your broker follow our recommendations through a Letter of Direction or any other means, that is solely your choice. FMR does not currently manage money, nor does it control or direct any trading accounts other than those of the company's owners. 10) TRADEMARKS: ODDS(r) is a registered trademark of Donald M. Fishback, Jr. ODDS Correlation Trader is a trademark of Fishback Management and Research, Inc. All other trademarks appearing on this web site and in our product manuals are trademarks or registered trademarks of their respective companies. 11) NO RESPONSIBILITY FOR STATEMENTS OF OTHERS: Persons other than FMR or Don Fishback may make statements concerning the potential risks and rewards of using the Service. Subscriber understands and acknowledges that FMR and Don Fishback do not vouch for, and are not responsible for, any such statements made in telemarketing, advertising or otherwise by persons who are not employed by FMR or Don Fishback. Subscriber understands that independent distributors are authorized to sell the service as a third party, but that it is not an agent of FMR or Don Fishback and that FMR and Don Fishback are not responsible for any statements made by the independent distributor. 12) NO SUITABILITY REPRESENTATION: FMR and Don Fishback make no representations concerning the suitability of the Service for use by Subscriber. Subscriber should determine for himself or herself whether, and to what extent, the use of the Service is suitable for Subscriber. 13) ARBITRATION: Any dispute arising out of or relating to this Agreement, or to the breach of this Agreement shall be settled by arbitration in Cincinnati, Ohio administered by the American Arbitration Association under its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. 14) NO ASSIGNMENT: Without the prior written consent of FMR, Customer may not assign, sub-license, transfer, pledge, lease, rent or share Subscriber.s rights, duties or obligations under this Agreement to or with any person or entity, in whole or in part. 15) RIGHT TO TERMINATE: FMR may terminate the subscription upon a material breach of this Agreement by Subscriber that is not cured after ten days. written notice to Subscriber. No refund will be made by FMR to Subscriber if the license is so terminated. 16) ALTHOUGH WE DO NOT RECOMMEND IT, THERE MAY BE SOME SUBSCRIBERS WHO UTILIZE FUTURES. FOR THOSE SUBSCRIBERS WHO CHOOSE TO TRADE INDEX FUTURES, PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY: FUTURES TRADING INVOLVES SIGNIFICANT RISK OF LOSS. FUTURES TRADING IS NOT SUITABLE FOR ALL INVESTORS. YOU MAY LOSE A SUBSTANTIAL AMOUNT OF MONEY IN A VERY SHORT PERIOD OF TIME. THE AMOUNT YOU LOSE IS POTENTIALLY UNLIMITED AND CAN EXCEED THE AMOUNT YOU ORIGINALLY DEPOSIT WITH YOUR BROKER. THIS IS BECAUSE FUTURES TRADING IS HIGHLY LEVERAGED, WITH A RELATIVELY SMALL AMOUNT OF MONEY USED TO ESTABLISH A POSITION IN ASSETS HAVING A MUCH GREATER VALUE. IF YOU ARE UNCOMFORTABLE WITH THIS LEVEL OF RISK, YOU SHOULD NOT TRADE FUTURES CONTRACTS. FMR reserves the right to refuse any subscription order. Copyright (c) 2009, Fishback Management & Research, Inc., All rights reserved.