Psychological Investor Terms of Use

This site provides educational and informational content in good faith but without warranty of any kind, and by using the site, you agree to respect this.


‘The Site’ refers to the online service provided at the domain by Mulhauser Consulting, Ltd. (‘The Provider’) with the assistance of its Managing Director, Dr Greg Mulhauser (‘The Publisher’). ‘The User’ refers to any person who establishes a connection to The Site via the World Wide Web. The ‘Agreement’ refers to this document.

General Agreement

By using The Site, other than to read this Agreement for the first time, The User agrees to comply with all terms and conditions herein. This Agreement may be updated or revised at any time.

Site Purpose

The Site is provided for educational and informational purposes only and is neither intended as nor implied to be an appropriate substitute for the advice of a qualified financial advisor or other investment professional. Neither The Provider nor The Publisher are registered financial advisors, brokers, or dealers.

Views expressed on The Site are statements of belief or judgment as of the date of publication and are subject to change without notice.

External Links

Links to material other than that included on The Site are provided in good faith for the convenience of The User. However, neither The Provider nor The Publisher, nor any of their respective employees, agents, or other affiliates, make any warranty as to the accuracy, reliability or content of these sites or as to the individual privacy or data collection policies in force at these sites.

Limitations of Liability

The Site is provided for educational and informational purposes only and is neither intended as nor implied to be an appropriate substitute for the advice of a qualified financial advisor or other investment professional. No client-advisor relationship exists between any User of The Site and any individual writing on The Site or advertised on The Site, except where a specific contract for such a relationship is entered into separately by The User and the individual concerned. No financial or investment advice will be provided on The Site.

The User expressly agrees that use of The Site is at The User’s sole risk. Neither The Provider nor The Publisher, nor any of their respective employees, agents, or other affiliates warrant that The Site will be uninterrupted or error free. Nor do they make any warranty as to the accuracy, reliability or content of any information or service provided via The Site.

The User expressly agrees that views and opinions expressed on The Site are those of their respective authors and do not necessarily represent the views or opinions of The Provider or The Publisher.

The Site is provided “as is”, without warranty of any kind, either expressed or implied, including without limitation, any implied warranty of merchantability, fitness for a particular purpose, or non-violation or non-infringement of rights. In no event will The Provider or The Publisher or any person or entity involved in creating or distributing The Site be liable for any damages, including, without limitation, direct, indirect, incidental, special, consequential or punitive damages arising out of the use or inability to use The Site.

The User agrees to defend, indemnify and hold harmless The Site, The Provider and The Publisher, their affiliates and their respective directors, officers, employees and agents from and against all claims and expenses, including legal fees, arising out of the use of The Site by The User.


The User shall be responsible for obtaining and maintaining his or her own hardware, software, other equipment and services needed to use The Site and for all charges related thereto.

Copyright, Licensing and User Contributed Material

The Site contains copyrighted material and other proprietary information, which may include, but is not limited to, text, software, photos and graphics, and the entire contents of The Site — excluding those portions which are copyrighted by third parties — are copyrighted as a collective work under international copyright laws. The Publisher owns a copyright in the selection, coordination, arrangement and enhancement of such content, as well as in the content original to it. The User agrees not to modify, publish, participate in the transfer or sale of, create derivative works, or in any way exploit, any of the content, in whole or in part. The User may download copyrighted material for personal use only. Except as otherwise expressly permitted under copyright law, no copying, redistribution, retransmission, publication or commercial exploitation of downloaded material will be permitted without the express permission of The Publisher and copyright owner. In the event of any permitted copying, redistribution or publication of copyrighted material, no changes in or deletion of author attribution or copyright notice shall be made. The User acknowledges that no ownership rights are acquired by downloading or otherwise using copyrighted material.

By providing any content to The Site — via article commenting features or via any other area of The Site which accepts User content — The User grants The Provider an irrevocable, perpetual and sublicensable (but nonexclusive) license to distribute that content worldwide in any form, without royalty or compensation of any kind, and warrants that neither the posting nor any further publication by The Provider of that content infringes on the legal rights of others, including intellectual property rights.

The User grants The Provider this irrevocable, perpetual, sublicensable license irrespective of whether material contributed by The User is accepted by The Provider for publication on The Site. Material will be accepted at the sole discretion of The Provider, and in particular any material judged by The Provider to be SPAM, including but not limited to advertisements for commercial products or services, will be rejected. (For the avoidance of doubt, if you decide to leave a comment on an article, but the comment includes little content and leverages the ‘name’, ’email’ or ‘url’ fields to advertise, then the comment will almost certainly be marked as SPAM.) The User agrees to respect any stated character limits for article comments; lengthy comments broken up into parts and submitted individually so as to circumvent our stated character limits are likely to be treated by The Provider as SPAM.


The Site may use cookies as described separately in our Privacy Policy and in our Advertising information. If you wish, you may set your browser to reject cookies.


This Agreement and any associated operating rules created for the use of particular site functionality (and which will be made available along with that functionality) constitute the entire agreement of the parties with respect to the subject matter thereof, and supersede all previous written or oral agreements between the parties with respect to such subject matter.

Changes of Terms

The Provider explicitly retains the right to change or modify the terms and conditions applicable to The User’s use of The Site, or to stipulate additional conditions. Any such changes, modifications, additions or deletions shall be effective immediately upon publication on The Site, and any use of The Site subsequent to such publication shall be deemed to constitute acceptance by The User of The Agreement.

Priority of Legal Obligations

In the event of any conflict with policies of The Site, the laws of England and Wales will take precedence over this Agreement and The Site’s Privacy Policy. The Agreement itself will be interpreted under the laws of England and Wales.

Section headings used in The Agreement are for convenience only and shall not be given any legal import.

All material on this site is carefully reviewed, but its accuracy cannot be guaranteed; please do your own checking and verifying. This specific article was originally published by on and was last reviewed or updated by Dr Greg Mulhauser on . provides market analysis and commentary, not investment advice. No warranty or representation, either expressed or implied, is given with respect to the accuracy, completeness, or suitability for purpose of any view or statement expressed on this site. Information on this site is not an offer, nor a solicitation, to buy or sell any securities mentioned on the site.

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