Not financial advice

1. Nothing here is financial advice

Whale Atlas is an informational publication. It reorganizes and displays information that companies, company insiders and members of Congress have already filed with the U.S. government. Nothing on this website is investment advice, financial advice, trading advice, legal advice, tax advice or any other professional advice, and nothing on it is a recommendation, offer or solicitation to buy, sell or hold any security, fund, option, cryptocurrency or other financial instrument.

Words and labels used on the site, including “large buys”, “large sales”, “Signal Score”, “strongest signal”, “biggest money”, rankings, badges, colors and charts, only describe what was disclosed in public filings (for example, that insiders reported purchases). They are not advice to buy or sell, and they are not a prediction that any price will go up or down.

2. We are not your adviser or broker

Whale Atlas and its operator are not registered investment advisers, broker-dealers, financial planners, analysts or fiduciaries, and are not registered with the SEC, FINRA or any state securities regulator. Using the site does not create an adviser, fiduciary, broker or any other professional relationship with you.

The site is impersonal: everyone sees the same information. It does not know your finances, goals, risk tolerance or tax situation, and nothing on it is tailored to you. Before making any financial decision, speak with a qualified, licensed professional who understands your personal circumstances.

3. Scores and rankings are experimental and untested

The Signal Score, rankings, sorts and any other calculations on Whale Atlas are experimental research tools. They are simple, rule-based summaries of disclosed activity and price trends. They have not been validated, back-tested, audited or proven to predict returns, and they may be changed or removed at any time without notice.

Treat everything on the site as speculation and a starting point for your own research, never as a conclusion. A high score does not mean a stock is a good investment; a low score does not mean it is a bad one.

4. Why public disclosures can mislead

Insider and congressional trades have many explanations that have nothing to do with a company’s prospects, and copying them can lose money. In particular:

• They are reported late. Insiders generally must file Form 4 within two business days after a trade. Members of the House must report within 30 days of being notified of a trade and no later than 45 days after it. Filings can also be late or amended. Prices may have moved long before a filing appears.
• Sales are often routine. Insiders sell for taxes, diversification, home purchases or pre-scheduled trading plans (Rule 10b5-1).
• Purchases are not a guarantee. Insiders and members of Congress are frequently wrong, and past trades do not predict future results.
• Congressional amounts are ranges, not exact values, and may belong to a spouse, dependent child or managed account.
• Filings contain errors, amendments and late corrections by the filers themselves.

5. Data may be delayed, incomplete or wrong

Data is collected automatically from government sources and processed by software. It may be delayed, incomplete, out of date, misread, duplicated or simply wrong, and coverage has gaps. Prices shown are delayed and for reference only; they are not real-time quotes and must not be used to place trades.

Always verify information with the original filing, which is linked from every trade, before relying on it for any purpose. If anything on Whale Atlas differs from the original filing, the original filing controls. If you find an error, please tell us (see corrections).

6. Investing involves risk

All investing involves risk, including the loss of some or all of the money you invest. Trading based on disclosures, momentum, technical indicators or rankings can be especially risky. You alone are responsible for your investment decisions and their results, including any gains, losses and taxes.

7. A free publication with no financial interest

Whale Atlas is free to use, requires no account, shows no advertising and does not sell data. We receive no payment from, and have no business relationship with, any company, fund, insider or member of Congress shown on the site, and we are not paid to feature, rank or describe any security.

The operator may personally own securities that appear on the site; appearing on Whale Atlas is never an endorsement.

8. No government affiliation or endorsement

Whale Atlas is independent. It is not affiliated with, endorsed by or sponsored by the U.S. Securities and Exchange Commission, the U.S. House of Representatives, the U.S. Senate, any government agency, any company shown on the site, or any other financial data service. Names and ticker symbols are used only to identify the filings they relate to.

9. No liability for decisions you make

To the fullest extent permitted by law, Whale Atlas and its operator are not liable for any loss or damage of any kind, including trading or investment losses, lost profits or missed opportunities, arising from your use of, or reliance on, the website or any information on it. The website is provided “as is” and “as available”, without warranties of any kind. See the Terms of Use for the full terms.

For questions about this notice, email [email protected].