Terms of Use

1. Operator and agreement

These terms govern the GRAYINVESTED website, research accounts and publications. The service is operated by GRAYINVESTED LLC, a New Mexico limited liability company. Questions may be sent to desk@grayinvested.com.

Use the service only if you are at least eighteen and able to enter a binding agreement. Any separately signed research engagement governs that engagement and prevails where it expressly conflicts with these general terms. Nothing here limits mandatory consumer or data-protection rights.

2. Research is information, not investment advice

Research, memos, stances, commentary, scenarios and email briefs are general information. They are not personalized investment recommendations, investment advice, legal or tax advice, an offer or solicitation, or a trading signal service. They do not assess your objectives, finances or suitability.

Reading research, opening an account or receiving an email does not create a fiduciary, investment-advisory, brokerage or other advisory relationship. A separate written research engagement does not by itself establish a regulated investment-advisory relationship. Obtain independent qualified advice where appropriate and make your own decisions.

Markets and commodity exposures carry risk, including loss of capital. Past observations, scenarios and outcomes do not assure future results. Information may change after publication; a dated memo is not an undertaking to provide continuous updates.

3. Access and account security

Provide an email you control. Account access uses emailed sign-in codes; keep codes and sessions confidential. Access permissions determine which memos you may read. An account does not grant access to every memo or to other clients' research and correspondence. Notify the desk promptly of suspected unauthorized access.

Do not share accounts, bypass access controls, scrape restricted research, impersonate another person, introduce malicious files, or abuse request or email functions. Do not submit material you lack authority to share. Any fees and service scope are agreed separately before work starts.

4. Intellectual property and no redistribution

Research, memos, graphics and branding belong to GRAYINVESTED or their respective licensors. Access grants a limited, revocable, nontransferable right to read permitted content for your own use or internal use expressly agreed with the desk.

Without prior written permission, you must not redistribute memos or gated content, forward complete research emails containing restricted material, republish screenshots or downloads, upload memos to shared repositories or AI services, sell access, or reproduce substantial portions. Do not remove attribution or watermarks. Statutory rights that cannot lawfully be excluded remain unaffected.

5. Communications and privacy

Necessary sign-in and service correspondence may be sent to your account email. An account alone does not constitute consent to optional broadcast briefs. Research brief subscriptions, category preferences and unsubscribe requests are separate and governed by the Privacy Policy and the consent given. Unsubscribing from briefs does not remove necessary account messages.

Read the Privacy Policy for personal-data processing and contact the desk to exercise privacy rights. External booking, payment and linked services have their own terms; their inclusion does not endorse every statement or service they provide.

6. No warranty and limitations

To the extent permitted by law, research and the service are supplied as available without warranty of accuracy, completeness, timeliness, uninterrupted availability, fitness for a particular purpose or any investment outcome. Sources and analysis can contain errors. Verify information independently before relying on it.

To the extent permitted by law, GRAYINVESTED is not responsible for investment losses or indirect or consequential losses caused by reliance on general research. No term excludes liability that cannot lawfully be excluded, including applicable mandatory consumer protections, fraud or intentional misconduct. Any liability cap for a specific engagement is set in that engagement's written agreement.

7. Suspension and termination

The desk may restrict or terminate access for material breach, account sharing, unauthorized redistribution, security abuse, unlawful activity, or failure to meet separately agreed engagement obligations. Except where urgent security or legal concerns prevent it, the desk will give notice and a reasonable opportunity to address a remediable breach. Termination must respect applicable law and agreed refund or service obligations.

You may stop using the service and request account deletion. Deleting an account does not necessarily erase every business record or mailing suppression entry; the Privacy Policy explains the distinction. Intellectual-property restrictions and lawful obligations survive termination.

8. Governing law and disputes

These terms are governed by the laws of the State of New Mexico, United States, without regard to conflict of law provisions.

This does not remove the statutory rights available to consumers in their country of residence, including users in the EU. Please first contact desk@grayinvested.com so the desk can attempt to resolve a concern; this does not prevent exercising legal rights.

9. Changes and general provisions

Material changes will be identified with an effective date and advance notice where required. Changes will not retrospectively remove accrued rights. If a term is unenforceable, the remainder applies only to the extent lawful. These terms and any expressly applicable written agreement describe the service relationship; failure to enforce a term immediately is not a permanent waiver.