Terms of Service

AGREEMENT FOR ACCESS TO WEBSITE AND USE OF CONTENT

Please read the following carefully before using this website, all text and downloadable files available on its public and password-protected areas, and all other content associated with Value Ideas in Action or Oliver Mihaljevic.

Value Ideas in Action and Oliver Mihaljevic (“we” and “us” and “our”) offer you access to our Internet website www.valueideasinaction.com (the “Site”) and to view our content, including but not limited to content on www.valueideasinaction.com, emails and Twitter posts from Value Ideas in Action and Oliver Mihaljevic, and all other information, documents, research reports, data and investment judgments expressed on the Site (collectively the “Content”), subject to the “Terms and Conditions” set forth below which shall govern your access to the Site and use of the Content. By your accessing the Site, you are signifying your acceptance of our Terms and Conditions and your agreement to be legally bound by them.

We reserve the right to change the Terms and Conditions at any time. Your continued accessing of our Site will be deemed as your acceptance of any such modified Terms and Conditions.


TERMS AND CONDITIONS

No Investment Advice

You acknowledge that the Content available on the Site is for informational purposes only and should not be construed as investment advice or a recommendation that you, or anyone you advise, should sell or buy any security or other investment, or undertake any investment strategy, discussed or evaluated on the Site. Moreover, if an investment firm or financial services firm is described or mentioned in our Site’s Content, you acknowledge that such description or mention does not constitute a recommendation by us that you engage or otherwise use such firm.

While the Content available on the Site comprises information, research and data about particular securities and other investments, as well as various model portfolio composition and performance data, you shall not construe such Content as constituting representations on our part that any security, other investment, model portfolio or investment strategy is suitable for you, or for anyone you advise. In this regard, you acknowledge that not all securities, other investments, model portfolios or investment strategies are suitable for all investors.

In view of the foregoing, you acknowledge and agree that, prior to executing any trades, you will make your own independent verification of financial information and evaluation of the investment merits and suitability for you, or anyone you advise, of the securities, other investments, model portfolios, or investment strategies, that may be presented, evaluated or discussed within our Site’s Content. You further agree that you will not use any of the Content for or in connection with making tax, legal or accounting decisions, or advising others regarding tax, legal or accounting matters.

Nothing contained in the Content should be considered a recommendation or advice to purchase or sell any security or other investment, or to undertake a particular model portfolio or other investment strategy.

Disclaimers

The Content on the Site has been carefully compiled from sources which we believe to be accurate and reliable. However, we make no claims, representations or warranties as to the accuracy, completeness, timeliness, reliability or truth of any of the material comprising the Content. The Content is presented without any express or implied warranties of any kind whatsoever. Simply stated, the Content available on our Site is provided on an “as is” basis.

We and our “Content Providers” (as hereinafter defined) disclaim any obligation (i) to update the Content in any way after the date of publication, or (ii) to provide to you information that reflects circumstances that may have changed, or new information that may have been acquired, thereafter relating to the Content, notwithstanding that such updated information or changed circumstances might have a material effect on any security, other investment, model portfolio or investment strategy presented in the previously published Content.

The Content will contain or reflect the opinions, judgments and analyses of us and other parties who provide Content to us (collectively “Content Providers”) with respect to securities, other investments, model portfolios and investment strategies. We disclaim any responsibility for any portion of the Content which is received from or created by Content Providers including, without limitation, reports of news, analyses, research or other data. In this regard, you acknowledge that the mere fact that we publish the opinions, judgments or analyses of Content Providers does not in and of itself make such opinions, judgments or analyses ours, nor render us liable for any errors, omissions, inaccuracies or negligence with respect thereto.

Any opinion, judgment or analysis of a Content Provider who is quoted or otherwise reflected in the Content on our Site shall be understood to be the opinion, judgment or analysis of that person alone, and not that of any firm which employs such person or with whom such person may be affiliated. It is acknowledged that other persons employed by or affiliated with such firm may have entirely different opinions, judgments or analyses with respect to the same subject.

The Contents are provided to you for informational purposes only and any discussion of past performance of any security, other investment, model portfolio or investment strategy should not be considered as being indicative or a guarantee of future performance. The price and value of securities referred to on this Site will fluctuate. Loss of all of the original capital invested in a security discussed on this Site may occur. Certain transactions, including those involving futures, options, and other derivatives, give rise to substantial risk and are not suitable for all investors. You acknowledge that you understand that, due to many factors over which neither we nor our independent Content providers have control, actual and subsequent events, performances and/or outcomes may differ substantially from any estimates, projections or predictions that might have been made in the Content of our Site.

Related Persons

Value Ideas in Action owners, officers, directors, employees and/or principals (collectively “Related Persons”) may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated on the Site.

In particular, Oliver Mihaljevic, the owner of Value Ideas in Action and principal author of Site Content, may purchase or sell securities and financial instruments discussed in the Site Content for his own accounts. You should assume that any report, post, communication, or any other Site Content including but not limited to content on www.valueideasinaction.com, emails and Twitter posts from Value Ideas in Action and Oliver Mihaljevic, referencing any publicly traded security, Oliver Mihaljevic and other Related Persons may have a position in the security covered herein, and therefore stand to realize significant gains in the event that the price of the security moves. Following publication of any Site Content, Oliver Mihaljevic and other Related Persons intend to continue transacting in the securities covered therein, and we may be long, short or neutral at any time thereafter regardless of our initial position or opinion.

You are hereby advised that Related Persons and Content Providers on the Site, whose opinions, judgments and analyses of particular securities or other investments and model portfolios are discussed or reflected in the Content may serve as officers or directors of companies that are issuers of such securities or other investments.

Compensation

We receive compensation in connection with the publication of Site Content in the form of subscription fees charged to subscribers and reproduction or re-dissemination fees charged to subscribers or others interested in the Content. We may also receive compensation for custom research and consulting projects. However, we do not receive compensation from the companies covered in Value Ideas in Action for such coverage.

Links to Third-Party Web Sites

For information and reference only, the Site may provide links to the external websites of other parties. We will provide such links only as a convenience to you, with your understanding that we have not verified the accuracy, truth, reliability or timeliness of any information found at such other web sites. The fact that we have provided a link to another web site should not be construed as our endorsement of such website or its contents. You acknowledge that you understand, and you agree to assume, the risks associated with using any information found on the Internet. You further acknowledge that such other websites are not under our control and that we make no representations or warranties whatsoever about any other websites which you may access through our Site. Accordingly, you agree that we will not be held responsible or liable for any damages or losses you may suffer as a result of your use or reliance upon any of the contents, advertising, products, or other materials found on such other websites.

Disclaimer of Warranties and Limitation of Liability

OLIVER MIHALJEVIC, VALUE IDEAS IN ACTION, ITS DIRECTORS, OFFICERS, EMPLOYEES AND PRINCIPALS, AS WELL AS CONTENT PROVIDERS, DISCLAIM ALL WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTIES WITH RESPECT TO (1) THE MERCHANTABILITY, QUALITY, ACCURACY, RELIABILITY, COMPLETENESS, FITNESS FOR ANY PARTICULAR PURPOSE OR TIMELINESS OF THE CONTENT OF OUR SITE; OR (2) ANY CIRCUMSTANCE ARISING FROM A COURSE OF DEALING OR USAGE IN TRADE; OR (3) VIRUS-FREE, ERROR-FREE, UNINTERRUPTED ACCESS TO THE SITE; OR (4) THE RESULTS THAT YOU MAY OBTAIN FROM YOUR ACCESS TO THE SITE AND USE OF THE CONTENT THEREON.

TO THE EXTENT THE LAW DOES NOT PERMIT THE DISCLAIMER OF WARRANTIES, EXPRESS OR IMPLIED, ALL CONTENT ACCESSIBLE ON OUR SITE, OR ANY OTHER PARTY’S WEB SITE TO WHICH WE LINK, ARE WARRANTED ONLY TO THE MINIMUM AMOUNT OR DEGREE LEGALLY REQUIRED OR PERMITTED.

YOU HEREBY EXPRESSLY AGREE THAT ACCESS TO OUR SITE IS AT YOUR OWN RISK, AND THAT YOU ASSUME THE RISK OF HAVING TO INCUR COSTS FOR SERVICING, REPAIR, REPLACEMENT OR CORRECTIONS THAT MAY BE NECESSARY FOR YOUR COMPUTER OR SOFTWARE AS A RESULT OF ANY VIRUSES, ERRORS OR OTHER PROBLEMS OF ANY KIND THAT YOU MAY HAVE EXPERIENCED ATTRIBUTABLE TO YOUR ACCESSING OUR SITE.

No Liability

By accessing the Site, you agree that you will bear full responsibility for your own investment research and decisions. You agree that Value Ideas in Action, as well as related persons and content providers, will under no circumstances be liable to you or any other party for any damages, injuries or losses, including any lost profits, direct, indirect, special, incidental, exemplary, punitive or consequential damages, injuries or losses of any kind resulting from your use or downloading of any of the Content on our Site, or on any third-party website linked to our Site, including, without limitation, any damages, injuries or losses resulting from any investment decision made or action taken by you or others based upon any of the Content on our Site, or that of any third-party website linked to our Site. The foregoing negation of liability encompasses, but is in no way limited to, damages, injuries, and losses caused in whole or in part by the negligence of Value Ideas in Action, related persons and/or content providers, or by events beyond the control of any of the foregoing in creating or delivering any of the Content on our Site.

Intellectual Property Rights in Content and Site

All of the Content on our Site is protected by United States and international copyright laws and is the property of Value Ideas in Action and the Content Providers thereof. The United States Copyright Act imposes liability of up to $150,000 for each act of willful infringement of a copyright.

We are providing you with access to the Site and the Content thereon for your individual use only. We grant you the right to download the Site’s Content to your computer, and to store and print out materials therefrom for your individual use only. Any other reproduction, republication, transmission, dissemination, display or editing of the Content by any means, mechanical or electronic, without the prior written permission of Oliver Mihaljevic or the Content Providers, as the case may be, is strictly prohibited. You do not acquire ownership rights of any kind whatsoever by virtue of your downloading the copyrighted Content on our Site.

You agree that you will not remove any copyright, trademark or other notices or legends contained on our Site relating to intellectual property, or otherwise.

The trademarks Value Ideas in Action and Turning Value Investing Ideas into Reality are the property of Oliver Mihaljevic.

User Code

To enable you to access our Site, we may provide you with a username, password and/or other unique identifier (“User Code”). The User Code is for your personal use only. You are responsible for the security and confidentiality of your User Code, and you agree not to disclose the same to any other party, including any employees or associates in any organization or firm by which you are employed or engaged, or with which you are affiliated.

We shall not be held responsible or liable for the consequences of any breach of security caused by your failure to maintain and safeguard the confidentiality and security of your User Code. You agree to notify us immediately in the event of the loss, theft or disclosure of your User Code, or if you have reason to believe that the confidentiality or security of your User Code has been compromised in any way, or if you learn of a possible or actual unauthorized access to and/or use of the Site.

We reserve the right to revoke or modify your User Code at any time without notice, for any reason we deem, in our sole judgement, to be warranted.

Indemnification

You hereby agree to indemnify and hold Value Ideas in Action, all Related Persons and Content Providers harmless from and against any and all actions, claims, proceedings, penalties, losses, liabilities, damages, costs and expenses including, without limitation, reasonable legal fees, and professional and expert fees and costs, arising directly or indirectly from or related to (i) your material breach of any of the Terms and Conditions of this Agreement; (ii) your access to and/or use of our Site or its Content; (iii) your violation of any of our intellectual property rights, or the rights of Content Provider; (iv) your access to the Site and/or use of the Content in violation of any applicable law, rule or registration; or (v) your failure to maintain the security and confidentiality of your User Code in accordance with this Agreement.

Subscriptions and Delivery Policy

Subscription prices (EURO 97 per month for a Classic subscription and EURO 447 per month for an Interactive subscription) are stated before any discounts or value-added taxes (VAT). If applicable, a discount or VAT is applied based on the information entered by each subscriber to arrive at a total subscription price including any discounts or VAT. This total subscription price is billed annually in advance. Subscriptions renew automatically on each annual renewal date until the subscription is canceled.

Once payment has been processed, subscribers will receive account activation information that will allow them to access password-protected Site Content. All subscriptions are single-user subscriptions. If you would like to share your personal access information, including your username and password, within your firm or with anyone else, please email oliver@valueideasinaction.com to discuss your subscription options.

Refund Policy

Requests for refunds following payment should be directed by e-mail to oliver@valueideasinaction.com. First-time subscribers may cancel their subscription at any time and will receive a pro-rated refund. However, if a subscriber makes repeat subscribe and refund requests, we reserve the right to reject such refund requests in order to prevent abuse and promote fairness toward other subscribers. Eligible refunds will be applied to the original payment card and will be pro-rated on a monthly basis (only fully unused months are refunded). Subscriptions renew automatically on each annual renewal date until the subscription is canceled.

Privacy Policy

We take the privacy and security of your personal and payment information very seriously. We do not sell your information to outside third parties, but we may occasionally share your data with third parties if such sharing is necessary to facilitate fulfillment of your subscription.

We collect, retain and use your personal information to develop relationships, provide services, and administer our business. All the information we collect about you will be done in accordance with and as required by law or regulation. When signing up for our free services or subscribing for our paid services, you may be asked to enter your name, e-mail address, mailing address, credit card and other personal information.

We will use the information collected about you to:

  • Manage, facilitate, or administer your relationship with us
  • Respond to inquiries regarding our products and services
  • Disseminate our Site Content
  • Share your data with third parties if such sharing is necessary to facilitate fulfillment of your subscription
  • Comply with reporting and other legal requirements

If you have questions regarding the collection and/or use of your personal information or regarding our privacy policy, please e-mail oliver@valueideasinaction.com.

Arbitration

You agree that all claims, disputes or controversies that may arise between you and us and/or any of our present or former officers, directors, employees or principals concerning or arising from (i) the Site or the Content; or (ii) the construction, performance or breach of this Agreement shall be determined in accordance with the Arbitration Rules and Internal Rules of the European Court of Arbitration being part of the European Centre of Arbitration having its seat in Strasbourg, and which are in force at the time the application for arbitration is filed, with right of appeal, unless this is not permitted by the applicable procedural law, by way of rehearing by an appellate arbitral tribunal as provided by the Rules, and of which adoption of this clause constitutes acceptance, by one arbitrator who will be chosen according to the provisions of the said Rules.

Arbitration shall be final and binding on the parties and judgement upon the arbitration award may be entered in any court having jurisdiction over the subject matter thereof. Except as otherwise provided below, the parties hereby waive their right to seek remedies in court, including the right to jury trial. You acknowledge and accept the fact that arbitration discovery is generally more limited than and different from that in court proceedings, and that the arbitrator’s award is not required to include factual findings or legal reasoning, and any party’s right to appeal or seek modification of rulings by the arbitrator is strictly limited. The arbitrator shall be a person who has experience in the securities and/or financial services industries. Each party shall bear its own attorney’s fees and costs of arbitration.

Notwithstanding the foregoing, however, we shall have the right to initiate and seek legal and equitable relief from a court of competent jurisdiction if and as necessary to protect our intellectual property rights from and against infringement by you or anyone acting in concert with you.

Miscellaneous

Neither our Site nor its Content has been approved by any governmental agency or instrumentality, or by any self-regulatory organization. We are not registered with the United States Securities and Exchange Commission (“SEC”) as an investment adviser under Section 203(c) of the Investment Adviser Act of 1940. We are not registered as a broker-dealer with the SEC or any state securities authority, and nothing contained in our Site shall be construed as an offer or solicitation to buy or sell any securities or other investments. We are not registered as investment advisers or broker-dealers with any other regulatory agencies in the United States or in any other country.

This Agreement represents the entire statement of the agreement between you and Value Ideas in Action regarding your rights to access our Site and to use the Content, and supersedes any other agreements or understandings, written or oral, relating to the above-noted subject matter.

You further acknowledge your understanding that our Site and Content is in no way intended to be a solicitation for money management services.

Except as herein provided, no waiver, modification or amendment of any provision of this Agreement will be effective against us unless the same is in writing and signed by Oliver Mihaljevic.

Should any term or provision of this Agreement be deemed or held to be invalid or unenforceable, the remaining terms and provisions will continue in full force and effect.

Our failure to insist at any time upon strict compliance with any term of this Agreement, or any delay or failure on our part to exercise any power or right given to us in this Agreement, or a continued course of such conduct on our part, will at no time operate as a waiver of such power or right, nor will any single or partial exercise preclude any other future exercise of our rights.

All rights and remedies given to us in this Agreement are cumulative and not exclusive of any other rights or remedies which we otherwise have at law or equity.

This Agreement will be binding upon you and your executors, heirs, successors and assigns.

Any and all headings in the text of this Agreement are solely for convenience and reference, and do not constitute a part of this Agreement; nor shall they be construed to affect the meaning, construction or legal effect of this Agreement.

Acceptance

By accessing the Site or using any of the Site’s Content, including password-protected Content, you acknowledge and agree: (i) that you (including your representatives, heirs, executors, administrators, assigns and attorneys-in-fact) intend to enter into a legally binding contract between you and Value Ideas in Action/Oliver Mihaljevic; (ii) that you have read and agree to the Terms and Conditions of this Agreement; (iii) that you agree and intend that this Agreement be the legal equivalent of a signed, written contract, and that it be equally binding; and (iv) that by electronically agreeing to this Agreement, you acknowledge that you have received a copy of this Agreement by your viewing the web page where this Agreement is displayed or otherwise.

Posted as of April 7, 2017. Last updated April 7, 2017.