Terms of Use
Effective date: September 1, 2026
Welcome to Second Order Research (“SoR,” “we,” “us,” or “our”). These Terms of Use govern your access to and use of SecondOrderResearch.com and the research, newsletters, data, commentary, graphics, tools, and other materials published through the site.
By using the site, you agree to these Terms.
Informational and Educational Purposes Only
Second Order Research provides investment research, analysis, commentary, and educational information.
Nothing published by SoR constitutes individualized investment advice, financial planning, legal advice, tax advice, accounting advice, or a recommendation that any particular investment, security, strategy, or transaction is suitable for you.
SoR is not acting as your investment adviser, broker-dealer, fiduciary, attorney, accountant, or other professional adviser.
You are responsible for evaluating your own financial circumstances, objectives, risk tolerance, and investment decisions.
No Offer or Solicitation
Nothing on this site constitutes an offer to sell, a solicitation to buy, or an offer to enter into any transaction involving securities, commodities, digital assets, derivatives, or other financial instruments.
Investment Risk
Investing involves risk, including the possible loss of principal.
Securities and markets can be volatile, illiquid, unpredictable, or affected by events not anticipated in SoR research.
Past performance does not guarantee future results.
Scenario analysis, probability estimates, valuation ranges, price targets, expected returns, and other forward-looking judgments are estimates—not guarantees.
Research and Forward-Looking Information
SoR research may include estimates, assumptions, forecasts, opinions, scenario analysis, and forward-looking statements based on information available at the time of publication.
Actual outcomes may differ materially.
Information may become outdated as company fundamentals, market prices, economic conditions, technology, regulation, contracts, litigation, competitive dynamics, or other circumstances change.
SoR may update, revise, or abandon an investment thesis when evidence changes, but we are not obligated to update every previously published item.
Accuracy and Sources
We seek to use reliable sources and clearly distinguish evidence, inference, uncertainty, and judgment where practical.
However, SoR does not warrant that any information on the site is complete, current, accurate, or error-free.
Third-party data, filings, transcripts, market information, research, and other sources may contain errors or omissions.
Readers should independently verify information material to their investment decisions.
AI-Assisted Research
Second Order Research uses AI-assisted tools for activities including evidence gathering, monitoring, analysis, synthesis, probability work, research organization, thesis stress-testing, and editorial workflows.
AI-assisted outputs may contain errors.
Material investment judgments are human-directed, and final capital decisions remain the responsibility of the investor.
Positions, Conflicts, and Compensation
SoR, its principals, contributors, or affiliates may hold positions in securities or other assets discussed on the site.
Where relevant, report-specific position disclosures may be provided.
Positions may change after publication without notice.
Unless explicitly stated otherwise, SoR has not been compensated by the companies discussed in its research.
Third-Party Links
The site may link to regulatory filings, company websites, news organizations, research publications, data providers, and other third-party services.
These links are provided for convenience and evidence verification.
SoR does not control and is not responsible for the accuracy, availability, security, content, or practices of third-party websites.
Intellectual Property
Unless otherwise stated, the content published by Second Order Research—including written research, original frameworks, graphics, branding, analysis, and site materials—is owned by or licensed to SoR and is protected by applicable intellectual-property laws.
You may share links to publicly available SoR research and quote reasonable excerpts with appropriate attribution.
You may not reproduce, republish, distribute, sell, scrape, systematically extract, or commercially exploit substantial portions of SoR content without permission.
Member Accounts and Access
If you create a member account or subscribe to SoR, you are responsible for maintaining the security of your account access.
You may not use another person’s account or attempt to bypass access restrictions, paywalls, usage limits, or security controls.
Acceptable Use
You may not use the site to interfere with its operation or security, introduce malicious software, attempt unauthorized access, scrape or harvest information in violation of these Terms, impersonate others, or use SoR content in violation of applicable law.
No Warranties
The site and its content are provided “as is” and “as available.”
To the fullest extent permitted by law, SoR disclaims warranties of any kind, whether express or implied, including warranties of accuracy, completeness, merchantability, fitness for a particular purpose, non-infringement, and uninterrupted availability.
Limitation of Liability
To the fullest extent permitted by applicable law, Second Order Research and its principals, contributors, affiliates, and service providers will not be liable for losses arising from reliance on site content, investment decisions, market losses, lost profits, data loss, service interruptions, third-party content, or other indirect, incidental, consequential, special, or punitive damages.
You remain solely responsible for your investment decisions.
Changes to These Terms
We may update these Terms as SoR, its services, membership structure, or legal obligations evolve.
Updated Terms will be posted on this page with a revised effective date.
Contact
Questions about these Terms may be sent through the contact information provided on SecondOrderResearch.com.
Second Order Research
Curiosity Before Capital.
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