The No-Pension Report is an independent, free educational publication written by Dennis Chirkovsky in a personal capacity. No company, partnership, fund, or other legal entity publishes, sponsors, or stands behind it.
THIS IS NOT INVESTMENT ADVICE
Nothing in this publication constitutes investment, financial, tax, or legal advice, and nothing here is a personal recommendation. No content is tailored to the objectives, financial situation, knowledge, experience, or particular needs of any individual reader. Any securities, bonds, funds, or other instruments mentioned are referenced for illustration and education only. They may be entirely unsuitable for your profile or objectives.
A PUBLICATION, NOT A SERVICE
This publication is written for a general readership and goes to every subscriber on the same terms, on a regular schedule. Nothing here is prepared for, or adapted to, any individual reader. No reader is known to the author, and no content changes depending on who is reading it.
NO LICENCE, NO REGULATED SERVICES
The author is not registered as an investment adviser in the United States, nor does he hold any similar registration, authorisation, or licence in any other jurisdiction. He is not an investment adviser, financial adviser, asset manager, or broker-dealer, and holds no licence permitting him to act as one anywhere. The author does not manage money, does not accept client funds, does not hold discretion over any account belonging to any reader, and does not provide regulated financial services of any kind.
NO PROMISES
No performance, return, income, or preservation of capital is promised or guaranteed. Past performance is not a reliable indicator of future results. Bonds carry credit risk, interest-rate risk, liquidity risk, and currency risk. Capital is at risk and you may lose money, including the possibility of losing your entire investment. All figures, yields, spreads, and market data are accurate only as of the date of publication and are not updated thereafter. Evergreen articles may be read months or years after they were written; the numbers in them will be out of date. The same applies to opinions and analysis. Views expressed here may change without notice, and there is no obligation to correct, update, or revise anything after publication.
NO COMPENSATION
This publication is free of charge. No payment, subscription fee, commission, referral fee, affiliate income, or other compensation is received from readers, issuers, product providers, brokers, or any other third party in connection with its content.
I GET THINGS WRONG
I have been wrong before and I will be wrong again. If you ever see me listing things I got right, assume there are at least as many things I got wrong over the same period. Where prior views or selections are referenced, all of them for the stated period are shown, including the ones that lost money. I do not publish selected results.
YOUR DECISION, YOUR RISK
All decisions are made by you, at your own risk. Before acting on anything you read here, obtain advice from a professional licensed and authorised in your own jurisdiction. Neither the author nor anyone associated with this publication accepts liability for any loss, direct or consequential, arising from the use of anything published here. You use this material entirely at your own risk. The author does not respond to questions about individual circumstances, portfolios, or holdings, whether by email, direct message, or comment. Please do not send information about your capital, income, holdings, investment objectives, or financial circumstances. It is not wanted and will not be used. If you send it anyway, it will be deleted.
COPYRIGHT
All content is copyright of the author. Reproduction or redistribution in whole or in part without written permission is not permitted. Quoting short extracts with attribution and a link back is welcome.
CONTACT
Dennis Chirkovsky
General inquiries: hello@no-pension.com
Data and privacy: privacy@no-pension.com