Research, not advice.
Norwic Finance publishes general research and information. It is not personalised investment advice, not an investment recommendation, and not a solicitation to buy or sell anything. Every decision you take, and every risk you carry, is your own.
1. What this content is
Everything published by Norwic Finance — daily briefs, company and macro analyses, sector reads, screens, calendars, archives and any other output of the platform — is informational research content produced for a general audience.
It is published so that readers can be better informed about what is happening in markets and why. It is educational and analytical in nature. It is not a service that tells you what to do with your money.
2. It is not personalised investment advice
Nothing we publish takes account of your objectives, your financial situation, your time horizon, your tax position or your risk tolerance. We do not know them, we do not ask for them, and we do not assess suitability or appropriateness for any individual.
Accordingly, our content is not:
- personalised investment advice or a personal recommendation;
- an offer, solicitation or invitation to buy, sell or subscribe for any financial instrument;
- investment research within the meaning of the rules applicable to regulated investment firms;
- legal, tax, accounting or actuarial advice;
- a portfolio management, advisory or brokerage service.
No client, fiduciary or advisory relationship is created between you and Norwic Finance by subscribing, reading our research or contacting support. If you need advice tailored to your circumstances, consult a professional authorised to provide it in your jurisdiction.
3. Regulatory status
Norwic Finance is a publisher of financial research content. It is not registered or authorised with the CMVM (Comissão do Mercado de Valores Mobiliários, the Portuguese securities market commission) as an investment adviser, financial intermediary, portfolio manager or any other regulated entity, and it does not carry out any activity reserved to such entities.
Investment advice, portfolio management and financial intermediation in Portugal are reserved activities that may only be carried out by entities registered with the CMVM. You can check whether an entity is registered on the CMVM website, www.cmvm.pt. We encourage you to do so for any entity that offers you advice.
We are not authorised or supervised by any other financial regulator, in the EU or elsewhere, and we do not hold client assets or client money at any time.
4. What our verdicts and price targets mean
Some of our research carries a verdict — Buy, Accumulate, Hold, Reduce or Sell — and, where relevant, a price target with a stated horizon, method and invalidation level.
These are analytical opinions about a security, framed for a general audience under a stated set of assumptions. They express how the published thesis would be classified on our own scale. They are not instructions to you, they take no account of your circumstances, and they are not a promise about the future price of anything.
Every price target we publish states the assumptions it depends on, the horizon it applies to, and the level at which the thesis would be considered invalid. Read those alongside the number: a target without its assumptions is meaningless.
5. How our research is produced
Norwic Finance research is produced with the assistance of automated systems, including large language models, working over market data, macroeconomic series, official calendars, filings and news. Every published output passes automated integrity checks and is reviewed by a human editor who is responsible for what appears. The full process is described on the Method page.
Automated systems can make mistakes: they can misread a figure, miss context, or state something with more confidence than the evidence supports. Our controls are designed to catch that, and they do not catch everything. Treat our research as one input into your own thinking, not as a verified fact sheet.
6. Third-party data
Our research draws on data from third-party providers, including market data vendors and official statistical sources. That data can be delayed, revised, restated or wrong, and provider outages happen. Prices shown are indicative and are not a quotation or an execution price. We do not warrant the accuracy, completeness or timeliness of third-party data and we are not liable for errors in it.
7. Forward-looking statements
Our content contains forward-looking statements — scenarios, expectations, estimates and interpretations of what may happen next. They involve known and unknown risks and rest on assumptions that may not hold. Actual outcomes may differ materially. We are under no obligation to update a published view when circumstances change, although we usually do.
8. Past performance
Past performance is not a reliable indicator of future results. Any track record, hit rate, back-test or historical illustration we publish describes what happened previously and says nothing certain about what will happen next.
We publish our record including the misses and the partial calls, because a record that only shows the wins is not a record. But an honest record is still not a forecast.
9. Crypto-assets
Crypto-assets are highly volatile and largely unregulated. Their value can fall sharply and rapidly, and you may lose the entire amount invested. Crypto-assets are generally not covered by investor compensation or deposit guarantee schemes. Our crypto coverage is research content and is subject to everything on this page, without exception.
10. Conflicts of interest
Our business model is a flat subscription paid by readers. We do not charge fees based on assets under management, we do not receive commissions, rebates or payment for order flow, and we do not accept payment from any company, issuer or promoter in exchange for coverage, a verdict or a favourable mention. Nothing we publish is sponsored content.
Our editorial team may hold personal positions in securities or crypto-assets that we write about. Personal holdings never determine coverage or verdicts, and material personal positions are disclosed. The editorial policy that governs this is set out on the About page.
11. Your decisions, your risk
Investing involves risk, including the risk of losing some or all of the amount invested. The value of investments can go down as well as up. Currency movements, leverage, illiquidity, tax treatment and costs can all reduce returns.
You are solely responsible for your investment decisions and for verifying independently any information you act on. To the maximum extent permitted by law, Norwic Finance accepts no liability for losses arising from the use of, or reliance on, its content — as set out in the Terms & Conditions.
12. Where this content applies
The content is published from Portugal and is not directed at any person in any jurisdiction where its publication or availability would be contrary to local law or regulation. If you access it from such a jurisdiction, it is your responsibility to observe the applicable rules. Our coverage of non-European markets is research about those markets; it does not mean we are registered in them.
13. Errors and corrections
If you believe something we published is wrong, tell us at norwicfinance@gmail.com. We correct material errors promptly and mark the correction visibly rather than quietly editing the original, as described in our editorial standards on the About page.
Informational research content. It is not personalised investment advice. Decisions are the sole responsibility of the user. Crypto-assets are highly volatile and you may lose the entire amount invested.
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