INSERT INTO `wp_posts` VALUES (8611,3,'2021-06-17 22:48:50','2021-06-17 22:48:50','<!-- wp:heading -->\n<h2>Strategy and Performance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As an investor in today’s volatile markets, you naturally have questions about our strategy and the historical performance of our Model Portfolio. Over the past 40 years, InvesTech has earned a widely respected reputation for our objective analysis and safety-first investment philosophy. While profits are important, we know that earning profits is only half the picture. Preserving one’s portfolio (and profits) through a severe bear market like 2000-02 or 2007-09 can make the difference between a comfortable retirement or financial disaster.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:paragraph -->\n<p>InvesTech\'s time-proven strategy involves measuring market risk – and taking maximum advantage of those investment opportunities when risk is the lowest. Our objective is to contain losses in a bear market to less than half of the decline of the broad market averages and to capture at least 80% of the upside during bull markets. Historically, we have been successful in achieving this goal which not only outperforms market averages over the long-term, but also significantly reduces volatility.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Hulbert Ranking</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The final issue of the <em>Hulbert Financial Digest,</em> published in February 2016, included the ranking of top mutual fund newsletters and showed that <em>InvesTech Research</em> was #1 in long-term performance –both for risk adjusted and unadjusted performance– with an annualized gain of 8.7% per year… almost double the Wilshire 5000\'s annual return over the same period.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:image {\"align\":\"center\",\"id\":4522,\"width\":768,\"height\":394,\"sizeSlug\":\"large\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/11/Hulbert-1024x525.png\" alt=\"Clipping from Hulbert Financial Digest ranking InvesTech against other top mutual fund newsletters.\" class=\"wp-image-4522\" width=\"768\" height=\"394\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2><strong>InvesTech’s Performance (2000 – current)</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":8240,\"width\":403,\"height\":512,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/performance-806x1024.jpg\" alt=\"\" class=\"wp-image-8240\" width=\"403\" height=\"512\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Back-to-back devastating bear markets in 2000-02 and 2007-09 have left most investors questioning the viability of a buy-and-hold strategy. At InvesTech we do not follow a buy-and-hold investment philosophy. Instead, we adjust equity exposure according to our assessment of market risk. This judgment is made based on InvesTech\'s time-tested proprietary technical indicators, historical analysis, and current economic and political forces.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Our safety-first investment philosophy led investors safely through the bear market of 2000-02. During this period, our defensive holdings and high-cash position protected subscribers from devastating bear market losses and kept our Model Portfolio essentially intact. In the 2007-09 bear market we achieved our objective of limiting losses to less than half the decline of the market averages (graph at right). In April 2009, just weeks after the official bear market low, we once again began increasing our invested allocation in anticipation of a new bull market. Since January 2000, the InvesTech Model Portfolio has gained 464.5%, while the S&amp;P 500 is up only 307.6% (including dividends). During the period January 1, 2000 through March 31, 2021, annualized performance of the InvesTech Model Portfolio was +8.5% compared to the S&amp;P 500 Total Return Index gain of +6.8%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>During the Bubble Years (1996-1999)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech’s technical indicators were among the first to confirm the U.S. stock market had embarked on a dangerous valuation bubble. That placed our safety-first philosophy in direct conflict with the mania on Wall Street. We made a very difficult decision during this period to step aside from the bubble. While we did not track our Model Portfolio performance prior to 2000, <em>Hulbert Financial Digest</em> data showed our total return for 1996 closely approximated that of a money market fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In defense of our high-cash position, we do not come across bubbles every day on Wall Street. This one, along with 1929, had been the only two clearly definable bubbles of the century. While we have developed new technical tools that will, hopefully, allow us to take part in and profit from similar situations in the future, we will never abandon the principles of our safety-first philosophy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Performance Prior to the Bubble (pre-1996)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"66.66%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:66.66%\"><!-- wp:paragraph -->\n<p>In 1996, InvesTech was recognized as one of only six financial advisory newsletters to have beaten the market on a risk-adjusted basis since inception in the early 1980s. And an October 1995 <em>Forbes </em>article described InvesTech’s long-term portfolio performance as <em>“more or less impervious to declines.”</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The reason is simple: InvesTech has an established reputation for maximizing safety-first profits. But reducing risk from major bear markets can be even more important, as shown in 1987 when InvesTech received widespread recognition from <em>USA Today, The Washington Post,</em> and <em>Los Angeles Times</em> for moving to a 100% cash position just prior to the October Crash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As an experienced investor, you must decide what performance means to you. Someone who is willing to wait 10 years or more to recover after losing two-thirds of their portfolio in a generational bear market, may not agree with our safety-first approach. On the other hand, if you have a deep respect for market risk and the impact that a devastating bear market can have on your portfolio or emotional well-being, then <em>InvesTech Research</em> offers what you are looking for… a risk-averse strategy and the ability to identify and take advantage of the best profit opportunities when they appear.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"width\":\"33.33%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:image {\"id\":5838,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/03/perf-table-533x1024.jpg\" alt=\"\" class=\"wp-image-5838\"/></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:uagb/inline-notice {\"block_id\":\"a7b31aa9\",\"noticeContent\":\"\\u003cp\\u003ePast performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  \\u003ca href=\\u0022https://ns2020-investech.investech.com/terms-of-use/\\u0022 target=\\u0022_blank\\u0022 rel=\\u0022noreferrer noopener\\u0022\\u003eRead full Disclosures here\\u003c/a\\u003e\\u003ca href=\\u0022http://Past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk.  Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.\\u0022 target=\\u0022_blank\\u0022 rel=\\u0022noreferrer noopener\\u0022\\u003e.\\u003c/a\\u003e\\u003c/p\\u003e\"} -->\n<div class=\"wp-block-uagb-inline-notice uagb-inline_notice__outer-wrap uagb-inline_notice__align-left uagb-block-a7b31aa9\"><h4 class=\"uagb-notice-title\">Important Disclosure Information</h4><div class=\"uagb-notice-text\"><p>Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  <a href=\"https://ns2020-investech.investech.com/terms-of-use/\" target=\"_blank\" rel=\"noreferrer noopener\">Read full Disclosures here</a><a href=\"http://Past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk.  Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.\" target=\"_blank\" rel=\"noreferrer noopener\">.</a></p></div></div>\n<!-- /wp:uagb/inline-notice -->\n\n<!-- wp:separator {\"className\":\"is-style-dots\"} -->\n<hr class=\"wp-block-separator is-style-dots\"/>\n<!-- /wp:separator -->\n\n<!-- wp:paragraph -->\n<p>Also available to <a href=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/InvesTech-Performance-Letter.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">read in PDF format</a><a href=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/InvesTech-Performance-Letter.pdf\">.</a></p>\n<!-- /wp:paragraph -->','Model Fund Portfolio Performance','As an investor in today’s volatile markets, you naturally have questions about our strategy and the historical performance of our Model Portfolio. ','inherit','closed','closed','','5821-revision-v1','','','2021-06-17 22:48:50','2021-06-17 22:48:50','',5821,'https://ns2020-investech.investech.com/?p=8611',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8612,3,'2021-06-17 22:50:09','2021-06-17 22:50:09','<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\"><!-- wp:heading {\"className\":\"unclear\"} -->\n<h2 class=\"unclear\">Securities-Backed Loans… Just the Tip of the Iceberg?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Aging bull markets are naturally predisposed to excesses –particularly in debt and leverage– and once again nontraditional loans are taking center stage.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\"><!-- wp:image {\"id\":8264,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/iceberg-4ReskwNsh68-unsplash-1024x576.jpg\" alt=\"\" class=\"wp-image-8264\"/><figcaption>Nine-tenths of an iceberg\'s volume is below the water</figcaption></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Markets are relaxing merrily on a powerful time bomb</strong> - Stock and bond market leverage is everywhere.</p><cite><em>Business Insider – 7/30/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:paragraph -->\n<p>The article goes on to say, <em>\"Some of (this leverage) is transparent, such as NYSE margin debt which was $539 billion as of the June report. But the hottest form of stock and bond market leverage is opaque, offered by financial firms that usually don’t disclose the totals: securities-based loans (SBLs) – or “shadow margin” because no one knows how much of it there is.\"</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Innovative Lending Practices Make a Come-back</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s been over 12 years since we warned about the highly questionable mortgage lending practices that mushroomed during the Housing Bubble. Now it appears that innovative lending is back in vogue. Securities-backed loans (SBLs) are among Wall Street’s hottest new products in this bull market, and they’ve been growing faster than Jack’s beanstalk over the past few years:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Borrowing With Stock Soars as Market Rises</strong></p><cite><em>Wall Street Journal, 7/28/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Fidelity taps Goldman Sachs to expand lending services through RIAs</strong></p><cite><em>Investment News, 7/27/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Goldman Sachs is launching a digital platform for the rich to borrow as much as $25 million</strong></p><cite><em>Reuters, 7/27/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Wall Street Sharks Entice Customers With Securities-Backed Loans</strong></p><cite><em>Seeking Alpha, 8/13/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:paragraph -->\n<p>SBLs are often referred to as “shadow margin” because they’re not tracked in the margin debt figures, nor are they tracked by either the SEC or the brokerage regulator FINRA. Nobody knows how extensive such loans are, but based on anecdotal evidence they total at least $100 billion and we believe the figure could be much larger.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"left\",\"id\":4901,\"width\":483,\"height\":237,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"pushleft\"} -->\n<div class=\"wp-block-image pushleft\"><figure class=\"alignleft size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/MorganStanley-1024x502.png\" alt=\"Morgan Stanley ad for securities-backed loans\" class=\"wp-image-4901\" width=\"483\" height=\"237\"/><figcaption>Morgan Stanle<strong>y</strong> Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>According to a July 2017 <em>Wall Street Journal</em> article, Bank of America’s wealth unit had $40 billion in outstanding securities-backed loans at the end of 2016, up 140% from 2010. Morgan Stanley had $30 billion in these loans, more than double the amount in 2013. And, not to be left behind, Goldman Sachs is teaming up with Fidelity and other brokerages to broaden the availability of credit via its new digital lending program, “GS Select.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>What are securities-backed loans (SBLs), and why are they popular?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4902,\"width\":366,\"height\":310,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/WellsFargo.png\" alt=\"Wells Fargo advertising securities-backed loans\" class=\"wp-image-4902\" width=\"366\" height=\"310\"/><figcaption>Wells Fargo Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>In simple terms, SBLs are loans that are marketed to investors as an easy and inexpensive way to access extra cash by borrowing against the securities in one’s investment portfolio without having to liquidate those holdings. Funds can be used for any purpose <strong><em>except </em></strong>buying more stock or repaying a margin loan. For instance, these loans might be used for buying real estate, investing in a business, funding education, or for personal use like taking a trip or paying for a wedding.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Fixed loans can run the gamut from $25,000 to $25 million or more, depending on the lender and the amount of collateral. A typical SBL agreement permits an investor to borrow from 50% to 95% of the value of the assets in his or her non-retirement investment account, based on the size of the portfolio and the types and mix of securities held. These lending arrangements can be set up as a fixed loan, but more often they’re established as a revolving SBL line of credit (SBLOC). It’s not uncommon for a firm to require that account assets have a market value of at least $100,000 to qualify for an SBLOC.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>The sales pitch is irresistible!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Looking at the promotional materials shown in this report from broker websites touting SBLs, who wouldn’t want to avail themselves of this offering? According to the ads, you’ve worked hard to grow your investments over the years; now you can capitalize on those assets to finance your dreams without drawing down your portfolio.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4903,\"width\":435,\"height\":319,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"pushright\"} -->\n<div class=\"wp-block-image pushright\"><figure class=\"alignright size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/UBS-1024x751.png\" alt=\"UBS advertising securities-backed loans\" class=\"wp-image-4903\" width=\"435\" height=\"319\"/><figcaption>UBS Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>There are some of the benefits of establishing a securities-backed line of credit (SBLOC) being touted to potential customers:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li>With an SBLOC, the cash is readily available (up to the credit limits) any time you need it.</li><li>Other than securities related transactions, there are no restrictions on how you use the loan.</li><li>An SBLOC lets you keep your investment account intact, allowing it to continue to grow.</li><li>By borrowing to meet your cash needs, you can avoid selling securities and triggering capital gains taxes.</li><li>Because SBLs are backed by portfolio assets, interest rates can be much lower than traditional loans.</li><li>Once an SBLOC is in place, it can be used repeatedly and you’re only required to make monthly interest payments – there is no maturity date.</li><li>There are usually no fees to establish the loan or credit line and funds are available quickly. Goldman Sachs’ digital platform promotes a 24-hour turnaround.</li><li>Typically, no personal financial statements, tax returns, or other documents are required.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>What’s in it for the brokers?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4904,\"width\":346,\"height\":233,\"sizeSlug\":\"medium\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-medium is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/GoldmanSachs-300x204.png\" alt=\"Goldman Sachs securities lending advertisement\" class=\"wp-image-4904\" width=\"346\" height=\"233\"/><figcaption>Goldman Sachs Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>SBLs and lines of credit have become lucrative new sources of income for brokerages, helping to replace revenue lost due to recent cuts in commission rates. In addition, brokers retain portfolio assets, along with their associated fees, as customers can access cash without making withdrawals. In some cases, establishing these loans may factor into a broker’s compensation, and marketing these credit options creates “sticky” clients as it’s hard to transfer assets to another broker with a securities-backed loan outstanding. Even if a client doesn’t use the line of credit immediately, the longer it’s in place, the more likely it is that he or she will eventually tap it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>So, where’s the risk with SBLs?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With SBLs, as with all financial obligations, it’s vitally important to read the fine print or risks section before committing. Careful attention to this step reveals that brokerages and banks get all the benefits of secured, full-recourse loans, while customers take all the risk. This may seem acceptable in a healthy bull market, but it can be catastrophic to the pledged portfolio in a downturn.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The following are some of the risks that investors may face if they borrow against an investment account. It’s these risks that prompted the SEC and FINRA to issue a special Investor Alert in 2015 regarding this type of lending:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li>If the value of the securities declines below a minimum level, you may be subject to a collateral “maintenance call” with little or no advanced warning, giving you minimal time to pay the loan or deposit more cash or securities in the account. Note that if this occurs, there are no extensions, and a broker can change its collateral maintenance requirement at any time without notifying you.</li><li>If you are unable to meet a maintenance call, the broker can liquidate part, or all, of your portfolio holdings at their discretion. You do not pick the stocks to sell. In a bear market, that could mean selling core holdings at a market bottom or alternatively realizing significant tax gains on long-held securities.</li><li>In a major downturn, you could be forced to forfeit all your pledged assets – in this case, the stocks, funds, and bonds in your portfolio. This is a major drawback to asset-backed loans…</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Why Goldman Sachs Seized a Client’s 217-Foot Yacht</strong></p><cite><em>Wall Street Journal - 8/10/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:paragraph -->\n<p>In the worst-case scenario, you might lose more funds than are held in the collateral account, and as a full-recourse loan, you would be liable for any deficiency.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li>For SBLOCs, the interest rate on your loan is generally a floating rate that can change daily. With interest rates rising, the cost of your SBLOC could increase significantly.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>The proliferation of SBLs and SBLOCs obviously increases the risks in this late-stage bull market. While history shows that excessive debt accumulation does not trigger a stock market peak, it can accelerate and intensify losses when the leverage starts to unwind in a bear market. Today’s levels of these securities-backed loans are small relative to overall consumer and business debt, but they can be dangerous. Like subprime mortgage loans 10 years ago, if trouble appears in terms of mass collateral maintenance calls, it could be just the tip of the iceberg.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:spacer {\"height\":33} -->\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\n\n<!-- wp:spacer {\"height\":33} -->\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4>Excerpt from <em>InvesTech Research</em> - September 15, 2017</h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This report is also available to <a href=\"https://ns2020-investech.investech.com/wp-content/pdf_files_wp/SBLs.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">read in PDF format.</a> </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Securities-Backed Loans','Securities-Backed Loans… Just the Tip of the Iceberg?\n\nAging bull markets are naturally predisposed to excesses –particularly in debt and leverage– and once again nontraditional loans are taking center stage.','inherit','closed','closed','','2472-revision-v1','','','2021-06-17 22:50:09','2021-06-17 22:50:09','',2472,'https://ns2020-investech.investech.com/?p=8612',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8613,3,'2021-06-17 22:50:54','2021-06-17 22:50:54','<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\"><!-- wp:heading {\"className\":\"unclear\"} -->\n<h2 class=\"unclear\">Securities-Backed Loans… Just the Tip of the Iceberg?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Aging bull markets are naturally predisposed to excesses –particularly in debt and leverage– and once again nontraditional loans are taking center stage.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\"><!-- wp:image {\"id\":8264,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/iceberg-4ReskwNsh68-unsplash-1024x576.jpg\" alt=\"\" class=\"wp-image-8264\"/><figcaption>Nine-tenths of an iceberg\'s volume is below the water</figcaption></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Markets are relaxing merrily on a powerful time bomb</strong> - Stock and bond market leverage is everywhere.</p><cite><em>Business Insider – 7/30/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:paragraph -->\n<p>The article goes on to say, <em>\"Some of (this leverage) is transparent, such as NYSE margin debt which was $539 billion as of the June report. But the hottest form of stock and bond market leverage is opaque, offered by financial firms that usually don’t disclose the totals: securities-based loans (SBLs) – or “shadow margin” because no one knows how much of it there is.\"</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Innovative Lending Practices Make a Come-back</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s been over 12 years since we warned about the highly questionable mortgage lending practices that mushroomed during the Housing Bubble. Now it appears that innovative lending is back in vogue. Securities-backed loans (SBLs) are among Wall Street’s hottest new products in this bull market, and they’ve been growing faster than Jack’s beanstalk over the past few years:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Borrowing With Stock Soars as Market Rises</strong></p><cite><em>Wall Street Journal, 7/28/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Fidelity taps Goldman Sachs to expand lending services through RIAs</strong></p><cite><em>Investment News, 7/27/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Goldman Sachs is launching a digital platform for the rich to borrow as much as $25 million</strong></p><cite><em>Reuters, 7/27/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Wall Street Sharks Entice Customers With Securities-Backed Loans</strong></p><cite><em>Seeking Alpha, 8/13/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:paragraph -->\n<p>SBLs are often referred to as “shadow margin” because they’re not tracked in the margin debt figures, nor are they tracked by either the SEC or the brokerage regulator FINRA. Nobody knows how extensive such loans are, but based on anecdotal evidence they total at least $100 billion and we believe the figure could be much larger.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"left\",\"id\":4901,\"width\":483,\"height\":237,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"pushleft\"} -->\n<div class=\"wp-block-image pushleft\"><figure class=\"alignleft size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/MorganStanley-1024x502.png\" alt=\"Morgan Stanley ad for securities-backed loans\" class=\"wp-image-4901\" width=\"483\" height=\"237\"/><figcaption>Morgan Stanle<strong>y</strong> Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>According to a July 2017 <em>Wall Street Journal</em> article, Bank of America’s wealth unit had $40 billion in outstanding securities-backed loans at the end of 2016, up 140% from 2010. Morgan Stanley had $30 billion in these loans, more than double the amount in 2013. And, not to be left behind, Goldman Sachs is teaming up with Fidelity and other brokerages to broaden the availability of credit via its new digital lending program, “GS Select.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>What are securities-backed loans (SBLs), and why are they popular?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4902,\"width\":366,\"height\":310,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/WellsFargo.png\" alt=\"Wells Fargo advertising securities-backed loans\" class=\"wp-image-4902\" width=\"366\" height=\"310\"/><figcaption>Wells Fargo Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>In simple terms, SBLs are loans that are marketed to investors as an easy and inexpensive way to access extra cash by borrowing against the securities in one’s investment portfolio without having to liquidate those holdings. Funds can be used for any purpose <strong><em>except </em></strong>buying more stock or repaying a margin loan. For instance, these loans might be used for buying real estate, investing in a business, funding education, or for personal use like taking a trip or paying for a wedding.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Fixed loans can run the gamut from $25,000 to $25 million or more, depending on the lender and the amount of collateral. A typical SBL agreement permits an investor to borrow from 50% to 95% of the value of the assets in his or her non-retirement investment account, based on the size of the portfolio and the types and mix of securities held. These lending arrangements can be set up as a fixed loan, but more often they’re established as a revolving SBL line of credit (SBLOC). It’s not uncommon for a firm to require that account assets have a market value of at least $100,000 to qualify for an SBLOC.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>The sales pitch is irresistible!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Looking at the promotional materials shown in this report from broker websites touting SBLs, who wouldn’t want to avail themselves of this offering? According to the ads, you’ve worked hard to grow your investments over the years; now you can capitalize on those assets to finance your dreams without drawing down your portfolio.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4903,\"width\":435,\"height\":319,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"pushright\"} -->\n<div class=\"wp-block-image pushright\"><figure class=\"alignright size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/UBS-1024x751.png\" alt=\"UBS advertising securities-backed loans\" class=\"wp-image-4903\" width=\"435\" height=\"319\"/><figcaption>UBS Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>There are some of the benefits of establishing a securities-backed line of credit (SBLOC) being touted to potential customers:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li>With an SBLOC, the cash is readily available (up to the credit limits) any time you need it.</li><li>Other than securities related transactions, there are no restrictions on how you use the loan.</li><li>An SBLOC lets you keep your investment account intact, allowing it to continue to grow.</li><li>By borrowing to meet your cash needs, you can avoid selling securities and triggering capital gains taxes.</li><li>Because SBLs are backed by portfolio assets, interest rates can be much lower than traditional loans.</li><li>Once an SBLOC is in place, it can be used repeatedly <strong><em>and </em></strong>you’re only required to make monthly interest payments – there is no maturity date.</li><li>There are usually no fees to establish the loan or credit line and funds are available quickly. Goldman Sachs’ digital platform promotes a 24-hour turnaround.</li><li>Typically, no personal financial statements, tax returns, or other documents are required.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>What’s in it for the brokers?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4904,\"width\":346,\"height\":233,\"sizeSlug\":\"medium\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-medium is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/GoldmanSachs-300x204.png\" alt=\"Goldman Sachs securities lending advertisement\" class=\"wp-image-4904\" width=\"346\" height=\"233\"/><figcaption>Goldman Sachs Advertisement</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>SBLs and lines of credit have become lucrative new sources of income for brokerages, helping to replace revenue lost due to recent cuts in commission rates. In addition, brokers retain portfolio assets, along with their associated fees, as customers can access cash without making withdrawals. In some cases, establishing these loans may factor into a broker’s compensation, and marketing these credit options creates “sticky” clients as it’s hard to transfer assets to another broker with a securities-backed loan outstanding. Even if a client doesn’t use the line of credit immediately, the longer it’s in place, the more likely it is that he or she will eventually tap it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>So, where’s the risk with SBLs?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With SBLs, as with all financial obligations, it’s vitally important to read the fine print or risks section before committing. Careful attention to this step reveals that brokerages and banks get all the benefits of secured, full-recourse loans, while customers take all the risk. This may seem acceptable in a healthy bull market, but it can be catastrophic to the pledged portfolio in a downturn.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The following are some of the risks that investors may face if they borrow against an investment account. It’s these risks that prompted the SEC and FINRA to issue a special Investor Alert in 2015 regarding this type of lending:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li>If the value of the securities declines below a minimum level, you may be subject to a collateral “maintenance call” with little or no advanced warning, giving you minimal time to pay the loan or deposit more cash or securities in the account. Note that if this occurs, there are no extensions, and a broker can change its collateral maintenance requirement at any time without notifying you.</li><li>If you are unable to meet a maintenance call, the broker can liquidate part, or all, of your portfolio holdings at their discretion. You do not pick the stocks to sell. In a bear market, that could mean selling core holdings at a market bottom or alternatively realizing significant tax gains on long-held securities.</li><li>In a major downturn, you could be forced to forfeit all your pledged assets – in this case, the stocks, funds, and bonds in your portfolio. This is a major drawback to asset-backed loans…  In the worst-case scenario, you might lose more funds than are held in the collateral account, and as a full-recourse loan, you would be liable for any deficiency.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Why Goldman Sachs Seized a Client’s 217-Foot Yacht</strong></p><cite><em>Wall Street Journal - 8/10/17</em></cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li>For SBLOCs, the interest rate on your loan is generally a floating rate that can change daily. With interest rates rising, the cost of your SBLOC could increase significantly.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>The proliferation of SBLs and SBLOCs obviously increases the risks in this late-stage bull market. While history shows that excessive debt accumulation does not trigger a stock market peak, it can accelerate and intensify losses when the leverage starts to unwind in a bear market. Today’s levels of these securities-backed loans are small relative to overall consumer and business debt, but they can be dangerous. Like subprime mortgage loans 10 years ago, if trouble appears in terms of mass collateral maintenance calls, it could be just the tip of the iceberg.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:spacer {\"height\":33} -->\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\n\n<!-- wp:spacer {\"height\":33} -->\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4>Excerpt from <em>InvesTech Research</em> - September 15, 2017</h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This report is also available to <a href=\"https://ns2020-investech.investech.com/wp-content/pdf_files_wp/SBLs.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">read in PDF format.</a> </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Securities-Backed Loans','Securities-Backed Loans… Just the Tip of the Iceberg?\n\nAging bull markets are naturally predisposed to excesses –particularly in debt and leverage– and once again nontraditional loans are taking center stage.','inherit','closed','closed','','2472-revision-v1','','','2021-06-17 22:50:54','2021-06-17 22:50:54','',2472,'https://ns2020-investech.investech.com/?p=8613',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8614,3,'2021-06-17 22:51:49','2021-06-17 22:51:49','<!-- wp:spacer {\"height\":8} -->\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading -->\n<h2>Holland, 1636</h2>\n<!-- /wp:heading -->\n\n<!-- wp:columns {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-top\"><!-- wp:column {\"verticalAlignment\":\"top\",\"width\":\"60%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\" style=\"flex-basis:60%\"><!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>One would suppose that there must have been some great virtue in this flower to have made it so valuable in the eyes of so prudent a people as the Dutch; but it has neither the beauty nor the perfume of the rose – hardly the beauty of the ‘sweet, sweet-pea;’ neither is it as enduring as either…\"</p><p>\"At last, however, the more prudent began to see that this folly could not last for ever… It was seen that somebody must lose fearfully in the end. As this conviction spread, prices fell, and never rose again. Confidence was destroyed, and a universal panic seized upon the dealers.\"</p><cite>– Tulipomania, Holland, 1636, excerpted from Extraordinary Popular Delusions &amp; the Madness of Crowds, written by Charles Mackay 1841</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\"><!-- wp:image {\"id\":4887,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/Jan_Brueghel_the_Younger_Satire_Tulip_Mania_1640-1024x655.jpg\" alt=\"Painting, A Satire of Tulip Mania by Jan Brueghel, c. 1640\" class=\"wp-image-4887\"/><figcaption>A Satire of Tulip Mania by Jan Brueghel the Younger (ca. 1640) depicts speculators as brainless monkeys in contemporary upper-class dress.</figcaption></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:heading -->\n<h2>Fast forward to 2017: Cryptocurrency Markets</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The quotes above referring to the Tulipomania of the 1600s may seem bizarre and distant to many. However, we see striking similarities between the investor psychology that once surrounded those antiquated tulip bulbs and that which is driving the current mania in cryptocurrencies, particularly Bitcoin:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:columns {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-top\"><!-- wp:column {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Wealth Managers Are Being Inundated With Calls About Bitcoin</p><cite>Bloomberg, 11/21/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Someone in 2010 bought 2 pizzas with 10,000 bitcoins – which today would be worth $100 million</p><cite>Business Insider, 11/28/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Owning bitcoin is so much damn fun</p><cite>Yahoo! Finance, 11/30/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Bitcoin swings from bull to bear and back in a day </p><cite>Financial Times, 11/30/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Bitcoin’s Wildest Ride: Up 40% in 40 Hours </p><cite>Wall Street Journal, 12/7/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Bitcoin Futures Debut With 26% Rally, Trigger CBOE Trading Halts</p><cite>Bloomberg, 12/11/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Bitcoin and the Lure of Decentralization</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Bitcoin is the most widely-recognized and largest cryptocurrency by market capitalization. Specifically, a cryptocurrency is a digital currency which has no central issuing or regulating authority, but instead uses a decentralized system of computers to record transactions and manage the issuance of new units. The digital asset relies on cryptography to prevent counterfeiting and fraudulent transactions. While over 1,000 unique cryptocurrencies exist today, they all share a common purpose: to enable and serve decentralized applications – a way to create a self-supporting service that no single entity operates or regulates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Way of the future? It’s complicated…</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cryptocurrencies may sound like the way of the future, but they are incredibly complex and difficult to understand. To illustrate, let’s take a high-level look at a theoretical transaction paid for in Bitcoin, as depicted by the flow chart below. Once the transaction is proposed, independent entities (called “miners”) compete on the open network to time stamp and verify the transaction by performing computationally difficult calculations. The reward for winning the elaborate race to verify and add the transaction to the public digital ledger (the blockchain) is a fraction of the transaction’s value, plus a processing fee, both denominated in Bitcoin. The integrity of the ledger is upheld by the economic self-interest of the miners – pure, unadulterated capitalism.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"center\",\"id\":8307,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/bitcoinflowchart.jpg\" alt=\"\" class=\"wp-image-8307\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Bitcoin vs. Internet Bubble</h3>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4739,\"width\":352,\"height\":416,\"sizeSlug\":\"large\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/bitcoin-1.png\" alt=\"Bitcoin vs. the Internet Bubble chart via Yahoo! Finance\" class=\"wp-image-4739\" width=\"352\" height=\"416\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Although Bitcoin has been in existence since 2009, its ascension to mainstream relevance is far more recent. Originally beloved by a very small group of passionate believers, Bitcoin saw relatively steady price appreciation in its early years while remaining virtually unknown to the general public. Over time, public enthusiasm surrounding Bitcoin has crescendoed, with the price of the digital currency rising exponentially, attracting hordes of amateur “investors” and speculators. As a result, the price of one Bitcoin has exploded by an absurd +3960% since the beginning of 2016! The ride has been volatile, including five drawdowns of at least -25% (daily close) during that period. Bitcoin’s meteoric rise dwarfs even the gains seen in the Internet Index at the peak of the notorious Tech Bubble. ➞</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Love at First Bit?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why has the world seemingly become enamored with the concept of cryptocurrencies? The following are some of the advantages being widely touted by Bitcoin advocates:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Freedom </strong>– It is possible to send and receive Bitcoin payments anywhere in the world at any time, without scrutiny. Users don’t have to worry about third party delays or approvals, banking holidays, transfer limits, or any other laws due to lack of central authority.</li><li><strong>Anonymity </strong>– Anyone, of any age, from anywhere in the world, with access to the Internet can transact with Bitcoins without providing any paperwork or proof of identification. Since personal information is not being tied to transactions, the risk of identity theft is eliminated.</li><li><strong>Low Fees </strong>– Transaction fees for processing Bitcoin payments are relatively low. Additionally, digital currency exchanges (e.g., Coinbase) can help merchants process transactions by converting Bitcoins into fiat currency for a fee that is generally lower than most credit card processing fees.</li><li><strong>Less Risk for Merchants </strong>– Because Bitcoin transactions cannot be reversed and do not carry any personal information with them, merchants are protected from potential losses that could occur from credit card fraud.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Despite the increasing hype and number of new Bitcoin advocates, doubters and skeptics abound – and you can count us among them. An asset’s value does not go parabolic without carrying extreme risk. In addition, there are numerous pitfalls and uncertainties associated with cryptocurrencies:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Price Volatility </strong>– It is impossible for Bitcoin to be a good store of value and a legitimate tool for transacting business when prices change so rapidly. Imagine trying to buy a car with Bitcoin when its value is gyrating by hundreds, or even thousands of dollars over a short period of time.</li><li><strong>Intangible </strong>– Many skeptics take issue with the fact that a Bitcoin is represented by a unique string of numbers stored on a hard drive – there is no physical coin.</li><li><strong>Moral Dilemma</strong> – The anonymity provided by Bitcoin is a double-edged sword, as it makes the digital currency inherently ideal for black market dealings.</li><li><strong>Regulation </strong>– The IRS has begun taxing digital currency gains and payments. Furthermore, there is the potential that certain countries could attempt to ban cryptocurrencies altogether, particularly if terrorist activities are funded by Bitcoin.</li><li><strong>Cybersecurity and Fraud </strong>– Digital currency assets can be stolen by hackers. Additionally, as the demand for cryptocurrencies has grown, scammers and poseurs have created their own bogus digital assets.</li><li><strong>Scalability</strong> – Major digital currency exchanges (e.g., Coinbase) have had difficulty handling traffic, which causes scalability and liquidity issues.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Our Perspective</h2>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"left\",\"id\":4742,\"width\":462,\"height\":260,\"sizeSlug\":\"large\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/bitcoin-3-kings-cartoon.jpg\" alt=\"Cartoon depicting three wise men, one offering bitcoin...\" class=\"wp-image-4742\" width=\"462\" height=\"260\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Throughout history, there have been numerous examples of revolutionary ideas or innovations that turned into dangerous bubbles due to feverish speculation and Wall Street hype ─ regardless of how well-intentioned the underlying concept. In our opinion, cryptocurrencies like Bitcoin are among them. Any dispute regarding the practical applications of Bitcoin matters not to the crazed speculators driving today’s rampant price gains.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many will argue that cryptocurrencies are isolated from other aspects of the economy and financial markets. However, we are concerned that the potential impact of a violent collapse in cryptocurrency prices could be bigger and more far-reaching than anticipated. And we are not alone:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Why Bitcoin’s Bubble Matters</strong>  <span style=\"font-size: inherit;\">If there’s a price crash in the cryptocurrency, it could hit the tech sector–and more</span></p><cite>Wall Street Journal - 10/8/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column -->\n\n<!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><span style=\"font-size: inherit;\"><strong>Deutsche Bank Economist Says a Bitcoin Crash Would Endanger Global Markets</strong></span> </p><cite>Fortune - 12/10/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:paragraph -->\n<p>Whether speculation is in tulip bulbs, real estate, stocks, sub-prime mortgages, or cryptocurrencies, the pattern is usually the same. For investors, emotions run the gamut from greed, to defiance, to fear at any hint of a disruption in the system. Unless you have a voracious appetite for risk and a high tolerance for loss, today’s cryptocurrency bubble is best left to the speculators.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:separator {\"className\":\"is-style-default\"} -->\n<hr class=\"wp-block-separator is-style-default\"/>\n<!-- /wp:separator -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4>Excerpt from <em>InvesTech Research</em> - December 15, 2017</h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This report is also available to <a href=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/Bitcoin.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">read in PDF format.</a> </p>\n<!-- /wp:paragraph -->','Bitcoin - Tiptoe, through the Tulips...','We see striking similarities between the investor psychology that once surrounded those antiquated tulip bulbs and that which is driving the current mania in cryptocurrencies, particularly Bitcoin.','inherit','closed','closed','','2418-revision-v1','','','2021-06-17 22:51:49','2021-06-17 22:51:49','',2418,'https://ns2020-investech.investech.com/?p=8614',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8615,3,'2021-06-17 22:52:04','2021-06-17 22:52:04','<!-- wp:spacer {\"height\":8} -->\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading -->\n<h2>Holland, 1636</h2>\n<!-- /wp:heading -->\n\n<!-- wp:columns {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-top\"><!-- wp:column {\"verticalAlignment\":\"top\",\"width\":\"60%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\" style=\"flex-basis:60%\"><!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>One would suppose that there must have been some great virtue in this flower to have made it so valuable in the eyes of so prudent a people as the Dutch; but it has neither the beauty nor the perfume of the rose – hardly the beauty of the ‘sweet, sweet-pea;’ neither is it as enduring as either…\"</p><p>\"At last, however, the more prudent began to see that this folly could not last for ever… It was seen that somebody must lose fearfully in the end. As this conviction spread, prices fell, and never rose again. Confidence was destroyed, and a universal panic seized upon the dealers.\"</p><cite>– Tulipomania, Holland, 1636, excerpted from Extraordinary Popular Delusions &amp; the Madness of Crowds, written by Charles Mackay 1841</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\"><!-- wp:image {\"id\":4887,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/Jan_Brueghel_the_Younger_Satire_Tulip_Mania_1640-1024x655.jpg\" alt=\"Painting, A Satire of Tulip Mania by Jan Brueghel, c. 1640\" class=\"wp-image-4887\"/><figcaption>A Satire of Tulip Mania by Jan Brueghel the Younger (ca. 1640) depicts speculators as brainless monkeys in contemporary upper-class dress.</figcaption></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:heading -->\n<h2>Fast forward to 2017: Cryptocurrency Markets</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The quotes above referring to the Tulipomania of the 1600s may seem bizarre and distant to many. However, we see striking similarities between the investor psychology that once surrounded those antiquated tulip bulbs and that which is driving the current mania in cryptocurrencies, particularly Bitcoin:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:columns {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-top\"><!-- wp:column {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Wealth Managers Are Being Inundated With Calls About Bitcoin</p><cite>Bloomberg, 11/21/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Someone in 2010 bought 2 pizzas with 10,000 bitcoins – which today would be worth $100 million</p><cite>Business Insider, 11/28/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Owning bitcoin is so much damn fun</p><cite>Yahoo! Finance, 11/30/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"top\"} -->\n<div class=\"wp-block-column is-vertically-aligned-top\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Bitcoin swings from bull to bear and back in a day </p><cite>Financial Times, 11/30/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Bitcoin’s Wildest Ride: Up 40% in 40 Hours </p><cite>Wall Street Journal, 12/7/17</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p>Bitcoin Futures Debut With 26% Rally, Trigger CBOE Trading Halts</p><cite>Bloomberg, 12/11/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Bitcoin and the Lure of Decentralization</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Bitcoin is the most widely-recognized and largest cryptocurrency by market capitalization. Specifically, a cryptocurrency is a digital currency which has no central issuing or regulating authority, but instead uses a decentralized system of computers to record transactions and manage the issuance of new units. The digital asset relies on cryptography to prevent counterfeiting and fraudulent transactions. While over 1,000 unique cryptocurrencies exist today, they all share a common purpose: to enable and serve decentralized applications – a way to create a self-supporting service that no single entity operates or regulates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Way of the future? It’s complicated…</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cryptocurrencies may sound like the way of the future, but they are incredibly complex and difficult to understand. To illustrate, let’s take a high-level look at a theoretical transaction paid for in Bitcoin, as depicted by the flow chart below. Once the transaction is proposed, independent entities (called “miners”) compete on the open network to time stamp and verify the transaction by performing computationally difficult calculations. The reward for winning the elaborate race to verify and add the transaction to the public digital ledger (the blockchain) is a fraction of the transaction’s value, plus a processing fee, both denominated in Bitcoin. The integrity of the ledger is upheld by the economic self-interest of the miners – pure, unadulterated capitalism.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"center\",\"id\":8307,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/bitcoinflowchart.jpg\" alt=\"\" class=\"wp-image-8307\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Bitcoin vs. Internet Bubble</h3>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":4739,\"width\":352,\"height\":416,\"sizeSlug\":\"large\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/bitcoin-1.png\" alt=\"Bitcoin vs. the Internet Bubble chart via Yahoo! Finance\" class=\"wp-image-4739\" width=\"352\" height=\"416\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Although Bitcoin has been in existence since 2009, its ascension to mainstream relevance is far more recent. Originally beloved by a very small group of passionate believers, Bitcoin saw relatively steady price appreciation in its early years while remaining virtually unknown to the general public. Over time, public enthusiasm surrounding Bitcoin has crescendoed, with the price of the digital currency rising exponentially, attracting hordes of amateur “investors” and speculators. As a result, the price of one Bitcoin has exploded by an absurd +3960% since the beginning of 2016! The ride has been volatile, including five drawdowns of at least -25% (daily close) during that period. Bitcoin’s meteoric rise dwarfs even the gains seen in the Internet Index at the peak of the notorious Tech Bubble. ➞</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Love at First Bit?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why has the world seemingly become enamored with the concept of cryptocurrencies? The following are some of the advantages being widely touted by Bitcoin advocates:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Freedom </strong>– It is possible to send and receive Bitcoin payments anywhere in the world at any time, without scrutiny. Users don’t have to worry about third party delays or approvals, banking holidays, transfer limits, or any other laws due to lack of central authority.</li><li><strong>Anonymity </strong>– Anyone, of any age, from anywhere in the world, with access to the Internet can transact with Bitcoins without providing any paperwork or proof of identification. Since personal information is not being tied to transactions, the risk of identity theft is eliminated.</li><li><strong>Low Fees </strong>– Transaction fees for processing Bitcoin payments are relatively low. Additionally, digital currency exchanges (e.g., Coinbase) can help merchants process transactions by converting Bitcoins into fiat currency for a fee that is generally lower than most credit card processing fees.</li><li><strong>Less Risk for Merchants </strong>– Because Bitcoin transactions cannot be reversed and do not carry any personal information with them, merchants are protected from potential losses that could occur from credit card fraud.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Despite the increasing hype and number of new Bitcoin advocates, doubters and skeptics abound – and you can count us among them. An asset’s value does not go parabolic without carrying extreme risk. In addition, there are numerous pitfalls and uncertainties associated with cryptocurrencies:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Price Volatility </strong>– It is impossible for Bitcoin to be a good store of value and a legitimate tool for transacting business when prices change so rapidly. Imagine trying to buy a car with Bitcoin when its value is gyrating by hundreds, or even thousands of dollars over a short period of time.</li><li><strong>Intangible </strong>– Many skeptics take issue with the fact that a Bitcoin is represented by a unique string of numbers stored on a hard drive – there is no physical coin.</li><li><strong>Moral Dilemma</strong> – The anonymity provided by Bitcoin is a double-edged sword, as it makes the digital currency inherently ideal for black market dealings.</li><li><strong>Regulation </strong>– The IRS has begun taxing digital currency gains and payments. Furthermore, there is the potential that certain countries could attempt to ban cryptocurrencies altogether, particularly if terrorist activities are funded by Bitcoin.</li><li><strong>Cybersecurity and Fraud </strong>– Digital currency assets can be stolen by hackers. Additionally, as the demand for cryptocurrencies has grown, scammers and poseurs have created their own bogus digital assets.</li><li><strong>Scalability</strong> – Major digital currency exchanges (e.g., Coinbase) have had difficulty handling traffic, which causes scalability and liquidity issues.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Our Perspective</h2>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"left\",\"id\":4742,\"width\":462,\"height\":260,\"sizeSlug\":\"large\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/bitcoin-3-kings-cartoon.jpg\" alt=\"Cartoon depicting three wise men, one offering bitcoin...\" class=\"wp-image-4742\" width=\"462\" height=\"260\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Throughout history, there have been numerous examples of revolutionary ideas or innovations that turned into dangerous bubbles due to feverish speculation and Wall Street hype ─ regardless of how well-intentioned the underlying concept. In our opinion, cryptocurrencies like Bitcoin are among them. Any dispute regarding the practical applications of Bitcoin matters not to the crazed speculators driving today’s rampant price gains.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many will argue that cryptocurrencies are isolated from other aspects of the economy and financial markets. However, we are concerned that the potential impact of a violent collapse in cryptocurrency prices could be bigger and more far-reaching than anticipated. And we are not alone:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><strong>Why Bitcoin’s Bubble Matters</strong>  </p><p><span style=\"font-size: inherit;\"><em>If there’s a price crash in the cryptocurrency, it could hit the tech sector–and more</em></span></p><cite>Wall Street Journal - 10/8/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column -->\n\n<!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:quote {\"className\":\"is-style-headline-highlight\"} -->\n<blockquote class=\"wp-block-quote is-style-headline-highlight\"><p><span style=\"font-size: inherit;\"><strong>Deutsche Bank Economist Says a Bitcoin Crash Would Endanger Global Markets</strong></span> </p><cite>Fortune - 12/10/17</cite></blockquote>\n<!-- /wp:quote --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:paragraph -->\n<p>Whether speculation is in tulip bulbs, real estate, stocks, sub-prime mortgages, or cryptocurrencies, the pattern is usually the same. For investors, emotions run the gamut from greed, to defiance, to fear at any hint of a disruption in the system. Unless you have a voracious appetite for risk and a high tolerance for loss, today’s cryptocurrency bubble is best left to the speculators.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:separator {\"className\":\"is-style-default\"} -->\n<hr class=\"wp-block-separator is-style-default\"/>\n<!-- /wp:separator -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4>Excerpt from <em>InvesTech Research</em> - December 15, 2017</h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This report is also available to <a href=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/12/Bitcoin.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">read in PDF format.</a> </p>\n<!-- /wp:paragraph -->','Bitcoin - Tiptoe, through the Tulips...','We see striking similarities between the investor psychology that once surrounded those antiquated tulip bulbs and that which is driving the current mania in cryptocurrencies, particularly Bitcoin.','inherit','closed','closed','','2418-revision-v1','','','2021-06-17 22:52:04','2021-06-17 22:52:04','',2418,'https://ns2020-investech.investech.com/?p=8615',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8616,3,'2021-06-17 22:53:20','2021-06-17 22:53:20','<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p><strong> The ABCs of MLPs…<br>What you don’t know can hurt you.</strong></p></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:paragraph -->\n<p>In this era of ultra-low interest rates, investors are inevitably drawn to investments with attractive yields, and Master Limited Partnerships (MLPs) are among the most popular income-generating investments on the market today. These appear to be safe and secure places to invest as MLPs derive their income from revenue generating properties and infrastructure, but there’s more to the story.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What are Master Limited Partnerships (MLPs)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As the name states, MLPs are limited partnerships which trade on major exchanges like common stock. They consist of a general partner (a sponsoring company in the same industry, which retains control of the business) and limited partners. When investors buy shares or units of the MLP, they become a limited partner in the business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As partnerships, MLPs are eligible for special tax treatment and avoid “double taxation.” With common stock, dividends are essentially taxed twice – once at the corporate level before dividends are paid and again at the shareholder level, after the dividend is received. Partnerships –including MLPs– are treated as “pass-through” entities where the income and deductions are passed directly to the partners (investors) who pay the taxes. Thus, MLPs are taxed only once at the investor level.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":5300,\"sizeSlug\":\"medium\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-medium\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/AlerianYield-300x166.png\" alt=\"Alerian MLP Index yield\" class=\"wp-image-5300\"/><figcaption>Yield on Alerian MLP Index</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Due to this favorable tax treatment, the level of distribution or yield for MLPs is generally high and can be very attractive to potential investors. One of the primary benchmarks used to track these publicly traded partnerships is the Alerian MLP Index, which includes 50 of the most prominent MLPs. The yield for this Index over the past 20 years is shown in the graph at right. Note that the yield has generally been in the 6-8% range, and has occasionally jumped to over 10%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With yields like this, it’s no surprise that many investors consider MLPs to be a great source of potential income. But they aren’t as safe as commonly perceived, and there are important facts to consider before making an investment decision…</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Fact #1: Sector diversification options are limited.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Today, the majority of MLPs are in the energy sector and most are engaged in energy-related transportation, processing, and storage. This makes sector diversification problematic. Current tax regulations require that a publicly traded partnership must receive 90% of its income from specified sources, most of which pertain to natural resources. Thus, there are only a few MLP options outside of energy, and those are mostly in real estate and finance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Fact #2: Yields can be high, but distributions are not guaranteed.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most MLPs manage to maintain distributions even in a weak economy. However, they need to have profits to make payouts. In recent downturns, it’s become apparent that distributions can decline or even disappear altogether. Several 2007 members of the Alerian MLP Index were forced to cut distributions significantly in the last recession (and it’s interesting to note that they have since been dropped from the Index).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Atlas Pipeline Partners LP (symbol: APL) is a prime example of the risk in MLP investing. Over the course of the last recession, the price of APL shares dropped more than 90% and distributions ceased. No distributions were made from May 2009 to November 2010.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Fact #3: MLPs mean more work at tax time.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you invest in an MLP, you become a limited partner, so the tax picture is more complicated than when you simply own common stock. With stocks, investors pay taxes on dividends received. With MLPs, much of the tax on distribution income is deferred until you sell your shares. Briefly, this is how taxes work with an MLP…</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>At year-end you receive a “K1” report from the partnership showing your portion of partnership income minus deductions for depreciation, depletion, etc. Due to these offsetting deductions, the net taxable income for the year is usually much less than the distributions paid out. The difference between the distribution and taxable income is treated as “return of capital” and reduces your cost basis. When you sell the shares, you will be required to pay income taxes on the “return of capital” portion, along with any capital gains above your initial investment. Bottom line, MLP investing requires extra work and forms at tax time, and it can lead to delays in filing as you wait for K1s to be issued.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Fact #4: MLPs are generally not suitable investments for IRAs or pension plans.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are no restrictions on buying MLPs in qualified retirement plans, but they may not be a good investment option. One benefit of owning an MLP is that most taxes are deferred until sale, and that benefit is wasted in a tax deferred IRA. Also, although your retirement plan is tax exempt,<strong> it could end up owing taxes on MLP income. </strong>The reason is that any tax-exempt entity (like an IRA) that earns income from an outside business is subject to the “Unrelated Business Income Tax” (UBIT) after the first $1,000 of net income. As a partner in an MLP, your retirement plan could be considered to earn this sort of income.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Fact #5: MLPs carry unknown risks.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s important to remember that these investments are not like bonds or preferred stocks which have a set par value. The price of MLP shares fluctuates like common stock. MLPs tend to be especially vulnerable to rising interest rates as they face increased competition from other income investments such as bonds or CDs. Higher interest rates also increase the cost of capital used for maintenance or expansion of MLP assets. In addition, economic swings can have a negative impact since most MLPs derive income from oil and gas properties, and utilization of these assets typically declines in a recession.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":5301,\"sizeSlug\":\"medium\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-medium\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/AlerianMLP-300x202.png\" alt=\"Alerian price index took three years to surpass its peak in the bear market\" class=\"wp-image-5301\"/><figcaption>Alerian MLP Price Index</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>This variability in MLP performance is evident in the Alerian MLP Price Index shown at right. Although this Index has generally moved higher over the past 20 years, it hit a major peak in 2007 and again in 2014. Over the course of the last bear market, this MLP Index dropped more than 55% and it took over three years to surpass the 2007 peak.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The trajectory in this Index is also particularly worrisome. As investors have flocked to these popular investments, this Index has soared and valuations have climbed. Even with the sell-off in energy stocks, the average P/E ratio of the Alerian Index constituents is now 30x compared to an average P/E of 20.7x for the S&amp;P 500.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3><strong>Also, although MLPs currently enjoy tax favored status, be aware that tax rules can change at the stroke of a legislative pen.</strong> </h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This has happened before. In the early 1980s, the first MLPs were a far more diverse group than they are today. Under the tax laws at the time, firms in a variety of energy and consumer industries were able to take advantage of this tax favored status including restaurants, hotels and cable TV. Even the Boston Celtics traded as an MLP at one time. In 1987 the tax code tightened, and under the new rules many of these partnerships no longer qualified for the tax advantages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also, in a more recent example, Canada’s 2006 Tax Fairness Plan implemented a new tax eventually amounting to more than 30% on most Canadian Income Trusts, which are similar tax-advantaged entities. The intention, of course, was to capture more tax revenue and make this form of business less attractive to existing corporations. Keep in mind that the U.S. government is seeking ways to generate more tax revenue right now and MLPs are currently exempt from paying corporate taxes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Strategy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Though MLPs offer an attractive yield, they do carry risks and can lose value. It’s important to recognize these are <em><strong>not </strong></em>simply safe, dividend paying alternatives to stocks or bonds. The risks in these MLPs are particularly acute today with continued demand for high-yield instruments, volatility in oil prices, and the likelihood of rising interest rates in the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>At this point in time, we do not view MLPs as a “safety-first” alternative, and advise following these guidelines if investing in MLPs today:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li>Limit allocation to no more than 10% of the portfolio.</li><li>Diversify among MLPs so you are not invested in just a single partnership.</li><li>Generally avoid buying MLPs in IRAs or other tax-exempt accounts.</li><li>Do your research, just as you would in selecting stocks. Study the partnership before investing and look for strong financial position (including stability of the general partner) and any hidden liabilities, as well as growth potential.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:spacer {\"height\":36} -->\n<div style=\"height:36px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\n\n<!-- wp:spacer {\"height\":7} -->\n<div style=\"height:7px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4>InvesTech Research Special Report published March 11, 2011 - updated May 27, 2015.  </h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This report is also available to<a href=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/MLPs.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"> read in PDF format.</a>  </p>\n<!-- /wp:paragraph -->','Investing in MLPs: The Rest of the Story','In this era of ultra-low interest rates, investors are inevitably drawn to investments with attractive yields, and Master Limited Partnerships (MLPs) are among the most popular income-generating investments on the market today. Learn the ABCs of MLPs… what you don’t know can hurt you. ','inherit','closed','closed','','2474-revision-v1','','','2021-06-17 22:53:20','2021-06-17 22:53:20','',2474,'https://ns2020-investech.investech.com/?p=8616',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8617,3,'2021-06-17 22:53:42','2021-06-17 22:53:42','<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>This little-known indicator has a remarkable 93-year track record of signaling the best, low-risk buying opportunities in the stock market.</p><cite>InvesTech Research</cite></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:heading -->\n<h2>Originally developed over 50 years ago by Edwin S. Coppock.</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s been described as a “barometer of the market’s emotional state,” methodically tracking the ebb and flow of equity markets from one extreme to another. By calculation, the Coppock Guide is the 10-month weighted moving total of a 14-month rate of change plus an 11-month rate of change of a market index. In simpler terms, it’s really just a momentum oscillator. Because of this, it reverses direction when the momentum or rate of change in the market reaches a peak or a trough.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The historical value of the Coppock Guide lies in signaling or confirming low-risk buying opportunities that emerge once a bear market bottom is in place (black dotted lines on graph below). And since market bottoms are usually sudden or “spiked” reversals, the Coppock Guide works amazingly well – as it did immediately after the bottom in 2009.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":5352,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/02/coppock-1024x728.png\" alt=\"\" class=\"wp-image-5352\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Once the Coppock Guide drops to ‘0’ or below, a mere 1-point upturn can usually be treated as an excellent buying opportunity. And often, the more negative the Coppock Guide is when it turns upward, the more impressive the profits ahead. The only four false signals under this guideline were in 1938, 1941, 1947 and November 2001.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, the Coppock Guide has never been noted for timely sell signals. The reason is that market tops are usually slow, rounding formations in which momentum (and the Coppock) peak up to a year or more ahead of the market. <em>Except, that is, in a few cases…</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Double-Tops</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In the late 1960s a technician named Don Hahn observed another phenomenon about the Coppock Guide. <strong>When a double-top occurs without the Coppock falling to ‘0’, it identifies a bull market where corrections haven’t driven out nervous investors or cleansed excesses from the market. </strong>When those psychological excesses are not washed out, the nervousness can continue to build and extremes can multiply… with the result that the next downturn can become severe as everyone heads for the exits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":5353,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"alignright size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/02/coppock-table.png\" alt=\"\" class=\"wp-image-5353\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><br>So there is a critical historical aspect to double-tops: <em>They can result in nasty bears! </em>Double-tops have occurred only 7 times in 93 years – with 5 of them accompanying the start of the most notorious bear markets of the 20th century: 1929, 1969, 1973, 2000 and 2007.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The table at right shows the month of the second peak, along with the start of the S&amp;P 500 bear market. And a glance at those resulting bear markets reveals why the double-top in the Coppock Guide has been nicknamed a “Killer Wave.” The average decline (<em>excluding </em>the -86% loss in 1929) was almost -42%!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Summary</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>In summary, there are two critical lessons in this model. </strong>First is the inherent danger that accompanies a double-top in the Coppock Guide. Such a formation often precedes the biggest and most devastating bear markets. The second, and perhaps most important, lesson is the knowledge that the safest and most profitable buying opportunities appear after this Guide declines to (or below) ‘0’ and then turns upward.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With its remarkable track record, the Coppock Guide should be a key tool in any investment strategy. When used with our other indicators, it can provide the discipline and patience to avoid treacherous bear market rallies and wait for the best buying opportunities that occur only a couple times each decade.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4>InvesTech Market Insight - Updated May 2013</h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This special report is also available to<a href=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/coppock.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"> read in PDF format.</a> </p>\n<!-- /wp:paragraph -->','The Coppock Guide - Double Tops','This little-known indicator has a remarkable 93-year track record of signaling the best, low-risk buying opportunities in the stock market. It’s been described as a “barometer of the market’s emotional state,” methodically tracking the ebb and flow of equity markets from one extreme to another.','inherit','closed','closed','','2476-revision-v1','','','2021-06-17 22:53:42','2021-06-17 22:53:42','',2476,'https://ns2020-investech.investech.com/?p=8617',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8618,3,'2021-06-18 15:28:22','2021-06-18 15:28:22','<!-- wp:heading -->\n<h2>InvesTech\'s Model Fund Portfolio</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The InvesTech Model Fund Portfolio is designed for individual investors who want to follow our allocation and sector recommendations for the equity portion of their portfolio.   We do not attempt to \"time\" the market, instead, we use a number of proprietary indicators to monitor the long-term health of the market and manage risk by adjusting our allocation as evidence develops.  We are unable to provide specific recommendations outside of the Model Fund Portfolio as we are not a registered investment advisor and are unable to provide individual investment advice.  Please read our <a rel=\"noreferrer noopener\" href=\"/terms-of-use/\" target=\"_blank\">important disclosures</a> for more information.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Track Portfolio Changes</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Subscribers who follow the Model Fund Portfolio can track the trades we’re making in real-time as we implement our “safety-first” strategy.  Changes will be announced here first and an email alert will be sent to subscribers notifying them of the change.  </p>\n<!-- /wp:paragraph -->','Model Fund Top Text','','inherit','closed','closed','','6042-revision-v1','','','2021-06-18 15:28:22','2021-06-18 15:28:22','',6042,'https://ns2020-investech.investech.com/?p=8618',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8619,3,'2021-06-18 15:40:25','2021-06-18 15:40:25','<!-- wp:group {\"className\":\"contentWidth\"} -->\n<div class=\"wp-block-group contentWidth\"><div class=\"wp-block-group__inner-container\"><!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>New Subscribers and Our Portfolio</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We currently advise new subscribers or subscribers with new money to bring their portfolio in line with our recommended allocation by phasing into the market over approximately two months; however, purchases made after our initial recommendation must be made at your discretion.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For more detailed information regarding our service and aligning your portfolio to ours, please read through the following articles.  </p>\n<!-- /wp:paragraph --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":5343} /-->','Model Fund Bottom Text','','inherit','closed','closed','','6907-revision-v1','','','2021-06-18 15:40:25','2021-06-18 15:40:25','',6907,'https://ns2020-investech.investech.com/?p=8619',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8620,3,'2021-06-18 16:34:49','2021-06-18 16:34:49','<!-- wp:heading -->\n<h2>Special Note for New Subscribers</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>The InvesTech Model Portfolio is designed for individual investors who want to follow our allocation and sector recommendations for the equity/fund portion of their portfolio.</strong>  The following information will assist you in getting started with InvesTech. It involves the decisions that must be made by an investor who wishes to bring their portfolio allocation more into alignment with InvesTech’s strategy:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Determine your invested allocation</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Determine your current invested allocation by totaling the amounts you have invested in equities (individual stocks, stock mutual funds, ETFs, and international stocks/funds). Divide this by your total equity portfolio size. This is your percent invested allocation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Refer to the InvesTech invested recommendation and allocations</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Refer to the InvesTech “percent” invested recommendation and allocations listed in the Model Fund Portfolio. If you are holding a portfolio that is similar in composition, sector weighting, and percent invested allocation to what we are currently recommending in the Model Fund Portfolio, it is unnecessary to make any changes at this time. Just wait for InvesTech’s next recommendation, generally made on the Friday Financial Hotline, to either add new positions or take profits… and act accordingly with your own holdings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Adjust your portfolio</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Adjust your portfolio, if necessary. Purchases after our initial recommendations must be made at your discretion; however, if your portfolio mix is dramatically different from our current recommendations and sector weightings, you may wish to consider changes to more closely align the portfolio with our model. For example, check your mutual funds for their weightings in each sector. If the combination of your stocks, ETFs, and mutual funds give your portfolio significantly more or less exposure to a particular sector or category (such as international or small-cap) than we recommend, then you may wish to adjust your holdings to bring them more in line with our recommendations.<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>An exception would be if we warn on the Hotline or in the newsletter against new purchases in a particular area. This usually means that we believe sector leadership is changing or most of the profits on a position have already been achieved and new investment would not be advisable. In that case, it is better to wait in the safety of a money market fund for our next recommendation. Depending on market conditions, we may advise bringing your portfolio in line with our recommendations by phasing into the market. Please review the Model Fund Portfolio published in the current issue for more information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Strategy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Remember, InvesTech’s strategy is not a short-term market timing system, but a long-term “risk allocation” strategy based on highly sophisticated indicators.</strong> Our objective is NOT to try to forecast stock movements in advance, but to correctly assess the market environment. When market indicators point to a strong, low-risk buying opportunity, we will recommend an aggressively invested position and growth oriented sectors. Conversely, we will inform you when our indicators show risk has risen to an unacceptable level so that you can take steps to protect your portfolio. This risk-averse strategy will help you to preserve capital in times of market vulnerability so that you will be ready and able to take advantage of the next low-risk buying opportunity when it arrives.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:uagb/inline-notice {\"block_id\":\"ea08109d\",\"noticeContent\":\"\\u003cp\\u003ePast performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  \\u003ca href=\\u0022https://ns2020-investech.investech.com/terms-of-use/\\u0022 target=\\u0022_blank\\u0022 rel=\\u0022noreferrer noopener\\u0022\\u003eRead full Disclosures here\\u003c/a\\u003e\\u003ca href=\\u0022http://Past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk.  Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.\\u0022 target=\\u0022_blank\\u0022 rel=\\u0022noreferrer noopener\\u0022\\u003e.\\u003c/a\\u003e\\u003c/p\\u003e\"} -->\n<div class=\"wp-block-uagb-inline-notice uagb-inline_notice__outer-wrap uagb-inline_notice__align-left uagb-block-ea08109d\"><h4 class=\"uagb-notice-title\">Important Disclosure Information</h4><div class=\"uagb-notice-text\"><p>Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  <a href=\"https://ns2020-investech.investech.com/terms-of-use/\" target=\"_blank\" rel=\"noreferrer noopener\">Read full Disclosures here</a><a href=\"http://Past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk.  Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended by InvesTech Research) will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.\" target=\"_blank\" rel=\"noreferrer noopener\">.</a></p></div></div>\n<!-- /wp:uagb/inline-notice -->','Note for New Subscribers','The InvesTech Model Portfolio is designed for individual investors who want to follow our allocation and sector recommendations for the equity/fund portion of their portfolio.  Bring your portfolio in line with InvesTech\'s with these steps...','inherit','closed','closed','','5858-revision-v1','','','2021-06-18 16:34:49','2021-06-18 16:34:49','',5858,'https://ns2020-investech.investech.com/?p=8620',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8626,3,'2021-06-18 18:12:19','2021-06-18 18:12:19','','V21I06','','inherit','closed','closed','','v21i06','','','2021-06-18 18:12:19','2021-06-18 18:12:19','',0,'https://ns2020-investech.investech.com/wp-content/pdf_files_wp/V21I06.pdf',0,'attachment','application/pdf',0);
INSERT INTO `wp_posts` VALUES (8639,3,'2021-06-18 21:53:12','2021-06-18 21:53:12','<!-- wp:heading -->\n<h2>June 18, 2021:  We are recommending the following changes:</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Increase the allocation to the MSCI ACWI ex-U.S. SPDR ETF (symbol: CWI) from 6% to 7%.</strong></li><li>I<strong>ncrease the allocation to the Energy Select Sector SPDR ETF (symbol: XLE) from 3% to 4%.</strong></li><li><strong>Decrease the allocation to the Industrial Select Sector SPDR ETF (symbol: XLI) from 10% to 9%.</strong></li><li><strong>Decrease the allocation to the Invesco S&amp;P 500 Equal Weight Consumer Discretionary ETF (symbol: RCD) from 6% to 5%.              </strong></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong></strong>Equities traded lower this week after the Federal Reserve acknowledged that inflation&nbsp;<em>might&nbsp;</em>not be as transitory as they’ve previously stated (accompanied by a litany of qualifications, of course&nbsp;<img src=\"/images/smiley.png\" width=\"15\" height=\"15\">&nbsp;).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the economic front, the Leading Economic Index rose 1.3% to an all-time high last month, further confirming the strong economic recovery. Yet, strong demand continues to worsen inflation pressures as the Producer Price Index rose to the highest level in its 10-year history.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The technical situation remains supportive as a whole - yet emerging weakness in market breadth has caught our attention in recent days. Also, our short-term Pressure Factor is now in oversold territory, which means that selling pressures could subside in the days ahead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Strategy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In this issue of <em>InvesTech Research </em>(available later today on our website), we delve into the greatest sources of risk: inflation and speculation. Increasing the allocation to our international and energy positions are opportunistic ways to benefit from the economic recovery while more directly protecting against the threats of higher inflation. We are also trimming our allocations in the Consumer Discretionary and Industrial sectors following strong performance over the past year. The Model Fund Portfolio remains 80% invested with 20% held in short-term Treasurys or a money-market fund.</p>\n<!-- /wp:paragraph -->','Model Fund Portfolio Update: June 18, 2021','','publish','closed','closed','','model-fund-portfolio-update-june-18-2021','','','2021-06-18 21:54:24','2021-06-18 21:54:24','',0,'https://ns2020-investech.investech.com/?post_type=investech-modelfund&#038;p=8639',0,'investech-modelfund','',0);
INSERT INTO `wp_posts` VALUES (8640,3,'2021-06-18 21:53:12','2021-06-18 21:53:12','<!-- wp:heading -->\n<h2>June 18, 2021:  <strong>We are recommending the following changes in the Model Fund Portfolio:</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Increase the allocation to the MSCI ACWI ex-U.S. SPDR ETF (symbol: CWI) from 6% to 7%.</strong></li><li>I<strong>ncrease the allocation to the Energy Select Sector SPDR ETF (symbol: XLE) from 3% to 4%.</strong></li><li><strong>Decrease the allocation to the Industrial Select Sector SPDR ETF (symbol: XLI) from 10% to 9%.</strong></li><li><strong>Decrease the allocation to the Invesco S&amp;P 500 Equal Weight Consumer Discretionary ETF (symbol: RCD) from 6% to 5%.              </strong></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong></strong>Equities traded lower this week after the Federal Reserve acknowledged that inflation&nbsp;<em>might&nbsp;</em>not be as transitory as they’ve previously stated (accompanied by a litany of qualifications, of course&nbsp;<img src=\"/images/smiley.png\" width=\"15\" height=\"15\">&nbsp;).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the economic front, the Leading Economic Index rose 1.3% to an all-time high last month, further confirming the strong economic recovery. Yet, strong demand continues to worsen inflation pressures as the Producer Price Index rose to the highest level in its 10-year history.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The technical situation remains supportive as a whole - yet emerging weakness in market breadth has caught our attention in recent days. Also, our short-term Pressure Factor is now in oversold territory, which means that selling pressures could subside in the days ahead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2><strong>Strategy</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In this issue of <em>InvesTech Research </em>(available later today on our website), we delve into the greatest sources of risk: inflation and speculation. Increasing the allocation to our international and energy positions are opportunistic ways to benefit from the economic recovery while more directly protecting against the threats of higher inflation. We are also trimming our allocations in the Consumer Discretionary and Industrial sectors following strong performance over the past year. The Model Fund Portfolio remains 80% invested with 20% held in short-term Treasurys or a money-market fund.</p>\n<!-- /wp:paragraph -->','Model Fund Portfolio Update: June 18, 2021','','inherit','closed','closed','','8639-revision-v1','','','2021-06-18 21:53:12','2021-06-18 21:53:12','',8639,'https://ns2020-investech.investech.com/?p=8640',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8641,3,'2021-06-18 21:53:54','2021-06-18 21:53:54','<!-- wp:heading -->\n<h2>June 18, 2021:  We are recommending the following changes in the Model Fund Portfolio:</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Increase the allocation to the MSCI ACWI ex-U.S. SPDR ETF (symbol: CWI) from 6% to 7%.</strong></li><li>I<strong>ncrease the allocation to the Energy Select Sector SPDR ETF (symbol: XLE) from 3% to 4%.</strong></li><li><strong>Decrease the allocation to the Industrial Select Sector SPDR ETF (symbol: XLI) from 10% to 9%.</strong></li><li><strong>Decrease the allocation to the Invesco S&amp;P 500 Equal Weight Consumer Discretionary ETF (symbol: RCD) from 6% to 5%.              </strong></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong></strong>Equities traded lower this week after the Federal Reserve acknowledged that inflation&nbsp;<em>might&nbsp;</em>not be as transitory as they’ve previously stated (accompanied by a litany of qualifications, of course&nbsp;<img src=\"/images/smiley.png\" width=\"15\" height=\"15\">&nbsp;).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the economic front, the Leading Economic Index rose 1.3% to an all-time high last month, further confirming the strong economic recovery. Yet, strong demand continues to worsen inflation pressures as the Producer Price Index rose to the highest level in its 10-year history.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The technical situation remains supportive as a whole - yet emerging weakness in market breadth has caught our attention in recent days. Also, our short-term Pressure Factor is now in oversold territory, which means that selling pressures could subside in the days ahead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2><strong>Strategy</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In this issue of <em>InvesTech Research </em>(available later today on our website), we delve into the greatest sources of risk: inflation and speculation. Increasing the allocation to our international and energy positions are opportunistic ways to benefit from the economic recovery while more directly protecting against the threats of higher inflation. We are also trimming our allocations in the Consumer Discretionary and Industrial sectors following strong performance over the past year. The Model Fund Portfolio remains 80% invested with 20% held in short-term Treasurys or a money-market fund.</p>\n<!-- /wp:paragraph -->','Model Fund Portfolio Update: June 18, 2021','','inherit','closed','closed','','8639-revision-v1','','','2021-06-18 21:53:54','2021-06-18 21:53:54','',8639,'https://ns2020-investech.investech.com/?p=8641',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8642,3,'2021-06-18 21:54:22','2021-06-18 21:54:22','<!-- wp:heading -->\n<h2>June 18, 2021:  We are recommending the following changes:</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"className\":\"is-style-default\"} -->\n<ul class=\"is-style-default\"><li><strong>Increase the allocation to the MSCI ACWI ex-U.S. SPDR ETF (symbol: CWI) from 6% to 7%.</strong></li><li>I<strong>ncrease the allocation to the Energy Select Sector SPDR ETF (symbol: XLE) from 3% to 4%.</strong></li><li><strong>Decrease the allocation to the Industrial Select Sector SPDR ETF (symbol: XLI) from 10% to 9%.</strong></li><li><strong>Decrease the allocation to the Invesco S&amp;P 500 Equal Weight Consumer Discretionary ETF (symbol: RCD) from 6% to 5%.              </strong></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong></strong>Equities traded lower this week after the Federal Reserve acknowledged that inflation&nbsp;<em>might&nbsp;</em>not be as transitory as they’ve previously stated (accompanied by a litany of qualifications, of course&nbsp;<img src=\"/images/smiley.png\" width=\"15\" height=\"15\">&nbsp;).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the economic front, the Leading Economic Index rose 1.3% to an all-time high last month, further confirming the strong economic recovery. Yet, strong demand continues to worsen inflation pressures as the Producer Price Index rose to the highest level in its 10-year history.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The technical situation remains supportive as a whole - yet emerging weakness in market breadth has caught our attention in recent days. Also, our short-term Pressure Factor is now in oversold territory, which means that selling pressures could subside in the days ahead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Strategy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In this issue of <em>InvesTech Research </em>(available later today on our website), we delve into the greatest sources of risk: inflation and speculation. Increasing the allocation to our international and energy positions are opportunistic ways to benefit from the economic recovery while more directly protecting against the threats of higher inflation. We are also trimming our allocations in the Consumer Discretionary and Industrial sectors following strong performance over the past year. The Model Fund Portfolio remains 80% invested with 20% held in short-term Treasurys or a money-market fund.</p>\n<!-- /wp:paragraph -->','Model Fund Portfolio Update: June 18, 2021','','inherit','closed','closed','','8639-revision-v1','','','2021-06-18 21:54:22','2021-06-18 21:54:22','',8639,'https://ns2020-investech.investech.com/?p=8642',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8643,1,'2021-06-21 17:04:09','2021-06-21 17:04:09','<!-- wp:image {\"align\":\"center\",\"id\":6655,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/bullish-heading.svg\" alt=\"\" class=\"wp-image-6655\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:image {\"align\":\"center\",\"id\":7877,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/05/bullish-title-IT-pubs.svg\" alt=\"\" class=\"wp-image-7877\"/></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Browse highlights and access our recent publications below. The <em>InvesTech Research</em> newsletter is published on the third Friday of each month.  </p>\n<!-- /wp:paragraph -->','Publication Top Text','','inherit','closed','closed','','1007-revision-v1','','','2021-06-21 17:04:09','2021-06-21 17:04:09','',1007,'https://ns2020-investech.investech.com/?p=8643',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8645,3,'2021-06-21 18:15:13','2021-06-21 18:15:13','<!-- wp:heading -->\n<h2>Measuring bellwether leadership...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Historically, there are certain stocks that have reliably led the broad market averages at major market tops. These stocks tend to lead for a variety of reasons, including sensitivity interest rates, underlying economic conditions, or consumer spending.  In order to capture the potent signals from these stocks in the lead up to a bear market, we compiled these stocks into a composite known as the InvesTech Bellwether Index.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Underperformance in our Bellwether Index relative to the S&amp;P 500 Index is often an important warning flag that either a steep correction or a bear market lies in wait. Negative divergences in this Index can be clearly seen prior to the popping of the Tech Bubble in 2000 and the Great Recession in 2008. Other instances of underperformance in this Index, however, become more apparent when viewed from a relative basis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":7352,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"is-style-default\"} -->\n<figure class=\"wp-block-image size-large is-style-default\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/Bellwether.svg\" alt=\"\" class=\"wp-image-7352\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"100%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:100%\"><!-- wp:paragraph -->\n<p>The chart below quantifies when the Bellwether Index is lagging behind the S&amp;P 500.  When the Bellwether Index has underperformed the S&amp;P Index by -10% or more within a 12-month period, it has led to a bear market (or near bear market) every time since 1985, in addition to a -19.9% correction in 2018. Note that poor relative gains in the Bellwether Index prior to both the 1987 crash and the 2020 COVID crash become obvious when viewed from this perspective. In practice, investors should exercise caution either when the Bellwether Index is visibly diverging from the S&amp;P 500 or when the Bellwether Index’s relative drawdown falls below -10%. In both cases, it could be a sign that the bull market is on its last legs.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Bellwether Index','InvesTech\'s Bellwether Index -a group of economically sensitive stocks- is used as a leading indicator for the stock market. ','inherit','closed','closed','','3057-revision-v1','','','2021-06-21 18:15:13','2021-06-21 18:15:13','',3057,'https://ns2020-investech.investech.com/?p=8645',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8646,3,'2021-06-21 18:56:35','2021-06-21 18:56:35','','Bellwether-Relative-Performance','','inherit','','closed','','bellwether-relative-performance','','','2021-06-21 18:56:35','2021-06-21 18:56:35','',3057,'https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Bellwether-Relative-Performance.svg',0,'attachment','image/svg+xml',0);
INSERT INTO `wp_posts` VALUES (8647,3,'2021-06-21 18:56:38','2021-06-21 18:56:38','<!-- wp:heading -->\n<h2>Measuring bellwether leadership...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Historically, there are certain stocks that have reliably led the broad market averages at major market tops. These stocks tend to lead for a variety of reasons, including sensitivity interest rates, underlying economic conditions, or consumer spending.  In order to capture the potent signals from these stocks in the lead up to a bear market, we compiled these stocks into a composite known as the InvesTech Bellwether Index.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Underperformance in our Bellwether Index relative to the S&amp;P 500 Index is often an important warning flag that either a steep correction or a bear market lies in wait. Negative divergences in this Index can be clearly seen prior to the popping of the Tech Bubble in 2000 and the Great Recession in 2008. Other instances of underperformance in this Index, however, become more apparent when viewed from a relative basis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":7352,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"is-style-default\"} -->\n<figure class=\"wp-block-image size-large is-style-default\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/Bellwether.svg\" alt=\"\" class=\"wp-image-7352\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"100%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:100%\"><!-- wp:paragraph -->\n<p>The chart below quantifies when the Bellwether Index is lagging behind the S&amp;P 500.  When the Bellwether Index has underperformed the S&amp;P Index by -10% or more within a 12-month period, it has led to a bear market (or near bear market) every time since 1985, in addition to a -19.9% correction in 2018. Note that poor relative gains in the Bellwether Index prior to both the 1987 crash and the 2020 COVID crash become obvious when viewed from this perspective. In practice, investors should exercise caution either when the Bellwether Index is visibly diverging from the S&amp;P 500 or when the Bellwether Index’s relative drawdown falls below -10%. In both cases, it could be a sign that the bull market is on its last legs.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:image {\"id\":8646,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Bellwether-Relative-Performance.svg\" alt=\"\" class=\"wp-image-8646\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Bellwether Index','InvesTech\'s Bellwether Index -a group of economically sensitive stocks- is used as a leading indicator for the stock market. ','inherit','closed','closed','','3057-revision-v1','','','2021-06-21 18:56:38','2021-06-21 18:56:38','',3057,'https://ns2020-investech.investech.com/?p=8647',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8648,3,'2021-06-21 19:25:19','2021-06-21 19:25:19','','Bellwether-Relative-Performance-1','','inherit','','closed','','bellwether-relative-performance-1','','','2021-06-21 19:25:19','2021-06-21 19:25:19','',3057,'https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Bellwether-Relative-Performance-1.svg',0,'attachment','image/svg+xml',0);
INSERT INTO `wp_posts` VALUES (8649,3,'2021-06-21 19:25:26','2021-06-21 19:25:26','<!-- wp:heading -->\n<h2>Measuring bellwether leadership...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Historically, there are certain stocks that have reliably led the broad market averages at major market tops. These stocks tend to lead for a variety of reasons, including sensitivity interest rates, underlying economic conditions, or consumer spending.  In order to capture the potent signals from these stocks in the lead up to a bear market, we compiled these stocks into a composite known as the InvesTech Bellwether Index.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Underperformance in our Bellwether Index relative to the S&amp;P 500 Index is often an important warning flag that either a steep correction or a bear market lies in wait. Negative divergences in this Index can be clearly seen prior to the popping of the Tech Bubble in 2000 and the Great Recession in 2008. Other instances of underperformance in this Index, however, become more apparent when viewed from a relative basis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":7352,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"is-style-default\"} -->\n<figure class=\"wp-block-image size-large is-style-default\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/Bellwether.svg\" alt=\"\" class=\"wp-image-7352\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"100%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:100%\"><!-- wp:paragraph -->\n<p>The chart below quantifies when the Bellwether Index is lagging behind the S&amp;P 500.  When the Bellwether Index has underperformed the S&amp;P Index by -10% or more within a 12-month period, it has led to a bear market (or near bear market) every time since 1985, in addition to a -19.9% correction in 2018. Note that poor relative gains in the Bellwether Index prior to both the 1987 crash and the 2020 COVID crash become obvious when viewed from this perspective. In practice, investors should exercise caution either when the Bellwether Index is visibly diverging from the S&amp;P 500 or when the Bellwether Index’s relative drawdown falls below -10%. In both cases, it could be a sign that the bull market is on its last legs.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:image {\"id\":8648,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Bellwether-Relative-Performance-1.svg\" alt=\"\" class=\"wp-image-8648\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Bellwether Index','InvesTech\'s Bellwether Index -a group of economically sensitive stocks- is used as a leading indicator for the stock market. ','inherit','closed','closed','','3057-revision-v1','','','2021-06-21 19:25:26','2021-06-21 19:25:26','',3057,'https://ns2020-investech.investech.com/?p=8649',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8650,3,'2021-06-21 19:28:05','2021-06-21 19:28:05','<!-- wp:heading -->\n<h2>Measuring bellwether leadership...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Historically, there are certain stocks that have reliably led the broad market averages at major market tops. These stocks tend to lead for a variety of reasons, including sensitivity interest rates, underlying economic conditions, or consumer spending.&nbsp;&nbsp;In order to capture the potent signals from these stocks in the lead up to a bear market, we compiled these stocks into a composite known as the InvesTech Bellwether Index.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Underperformance in our Bellwether Index relative to the S&amp;P 500 Index is often an important warning flag that either a steep correction or a bear market lies in wait.&nbsp;Negative divergences in this Index can be clearly seen prior to the popping of the Tech Bubble in 2000 and the Great Recession in 2008.&nbsp;Other instances of underperformance in this Index, however, become more apparent when viewed from a relative basis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":7352,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"is-style-default\"} -->\n<figure class=\"wp-block-image size-large is-style-default\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/Bellwether.svg\" alt=\"\" class=\"wp-image-7352\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"100%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:100%\"><!-- wp:paragraph -->\n<p>The chart below quantifies when the Bellwether Index is lagging behind the S&amp;P 500.  When the Bellwether Index has underperformed the S&amp;P Index by -10% or more within a 12-month period, it has led to a bear market (or near bear market) every time since 1985, in addition to a -19.8% correction in 2018. Note that poor relative gains in the Bellwether Index prior to both the 1987 crash and the 2020 COVID crash become obvious when viewed from this perspective. In practice, investors should exercise caution either when the Bellwether Index is visibly diverging from the S&amp;P 500 or when the Bellwether Index’s relative drawdown falls below -10%. In both cases, it could be a sign that the bull market is on its last legs.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:image {\"id\":8648,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Bellwether-Relative-Performance-1.svg\" alt=\"\" class=\"wp-image-8648\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Bellwether Index','InvesTech\'s Bellwether Index -a group of economically sensitive stocks- is used as a leading indicator for the stock market. ','inherit','closed','closed','','3057-revision-v1','','','2021-06-21 19:28:05','2021-06-21 19:28:05','',3057,'https://ns2020-investech.investech.com/?p=8650',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8651,3,'2021-06-21 19:28:34','2021-06-21 19:28:34','<!-- wp:heading -->\n<h2>Measuring bellwether leadership...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Historically, there are certain stocks that have reliably led the broad market averages at major market tops. These stocks tend to lead for a variety of reasons, including sensitivity interest rates, underlying economic conditions, or consumer spending.&nbsp;&nbsp;In order to capture the potent signals from these stocks in the lead up to a bear market, we compiled these stocks into a composite known as the InvesTech Bellwether Index.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Underperformance in our Bellwether Index relative to the S&amp;P 500 Index is often an important warning flag that either a steep correction or a bear market lies in wait.&nbsp;Negative divergences in this Index can be clearly seen prior to the popping of the Tech Bubble in 2000 and the Great Recession in 2008.&nbsp;Other instances of underperformance in this Index, however, become more apparent when viewed from a relative basis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":7352,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"is-style-default\"} -->\n<figure class=\"wp-block-image size-large is-style-default\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/Bellwether.svg\" alt=\"\" class=\"wp-image-7352\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"100%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:100%\"><!-- wp:paragraph -->\n<p>The chart below quantifies when the Bellwether Index is lagging behind the S&amp;P 500.  When the Bellwether Index has underperformed the S&amp;P Index by -10% or more within a 12-month period, it has led to a bear market (or near bear market) every time since 1986, in addition to a -19.8% correction in 2018. Note that poor relative gains in the Bellwether Index prior to both the 1987 crash and the 2020 COVID crash become obvious when viewed from this perspective. In practice, investors should exercise caution either when the Bellwether Index is visibly diverging from the S&amp;P 500 or when the Bellwether Index’s relative drawdown falls below -10%. In both cases, it could be a sign that the bull market is on its last legs.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:image {\"id\":8648,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Bellwether-Relative-Performance-1.svg\" alt=\"\" class=\"wp-image-8648\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Bellwether Index','InvesTech\'s Bellwether Index -a group of economically sensitive stocks- is used as a leading indicator for the stock market. ','inherit','closed','closed','','3057-revision-v1','','','2021-06-21 19:28:34','2021-06-21 19:28:34','',3057,'https://ns2020-investech.investech.com/?p=8651',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8653,3,'2021-06-21 19:29:02','2021-06-21 19:29:02','<!-- wp:heading -->\n<h2>Measuring bellwether leadership...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Historically, there are certain stocks that have reliably led the broad market averages at major market tops. These stocks tend to lead for a variety of reasons, including sensitivity interest rates, underlying economic conditions, or consumer spending.&nbsp;&nbsp;In order to capture the potent signals from these stocks in the lead up to a bear market, we compiled these stocks into a composite known as the InvesTech Bellwether Index.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Underperformance in our Bellwether Index relative to the S&amp;P 500 Index is often an important warning flag that either a steep correction or a bear market lies in wait.&nbsp;Negative divergences in this Index can be clearly seen prior to the popping of the Tech Bubble in 2000 and the Great Recession in 2008.&nbsp;Other instances of underperformance in this Index, however, become more apparent when viewed from a relative basis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":7352,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"is-style-default\"} -->\n<figure class=\"wp-block-image size-large is-style-default\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/Bellwether.svg\" alt=\"\" class=\"wp-image-7352\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"100%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:100%\"><!-- wp:paragraph -->\n<p>The chart below quantifies when the Bellwether Index is lagging behind the S&amp;P 500.  When the Bellwether Index has underperformed the S&amp;P Index by -10% or more within a 12-month period, it has led to a bear market (or near bear market) every time since the Index\'s inception, in addition to a -19.8% correction in 2018. Note that poor relative gains in the Bellwether Index prior to both the 1987 crash and the 2020 COVID crash become obvious when viewed from this perspective. In practice, investors should exercise caution either when the Bellwether Index is visibly diverging from the S&amp;P 500 or when the Bellwether Index’s relative drawdown falls below -10%. In both cases, it could be a sign that the bull market is on its last legs.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:image {\"id\":8648,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Bellwether-Relative-Performance-1.svg\" alt=\"\" class=\"wp-image-8648\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Bellwether Index','InvesTech\'s Bellwether Index -a group of economically sensitive stocks- is used as a leading indicator for the stock market. ','inherit','closed','closed','','3057-revision-v1','','','2021-06-21 19:29:02','2021-06-21 19:29:02','',3057,'https://ns2020-investech.investech.com/?p=8653',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8659,3,'2021-06-21 21:23:53','2021-06-21 21:23:53','<!-- wp:paragraph -->\n<p>Since our founding in 1983, we have continually tracked the performance of brokerage stocks as they have been consistent leading indicators over the past four decades. Brokerage stocks tend to decline ahead of the market in major consolidations due to their perceived sensitivity to interest rates and investor sentiment. In order to simplify and more accurately track these stocks, we created our InvesTech Brokerage Composite.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As shown in the graph below, our Brokerage Composite started to diverge from the S&amp;P 500 Index before each of the past five bear markets. The lead time provided by this tool can vary, but the end results of its signals are ultimately consistent. As such, when persistent and significant underperformance emerges in the Brokerage Composite, it cannot be ignored.&nbsp; &nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":7354,\"sizeSlug\":\"large\",\"linkDestination\":\"none\",\"className\":\"is-style-default\"} -->\n<figure class=\"wp-block-image size-large is-style-default\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/Brokerage-Composite.svg\" alt=\"\" class=\"wp-image-7354\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"></div>\n<!-- /wp:columns -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column {\"width\":\"35%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:35%\"></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->','Brokerage Composite','The InvesTech Brokerage Composite is a basket of well-known brokerage stocks, which have historically provided reliable warnings ahead of bear markets in the S&P 500.','inherit','closed','closed','','3038-revision-v1','','','2021-06-21 21:23:53','2021-06-21 21:23:53','',3038,'https://ns2020-investech.investech.com/?p=8659',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8660,1,'2021-06-23 16:43:56','2021-06-23 16:43:56','a:10:{s:4:\"type\";s:4:\"text\";s:12:\"instructions\";s:59:\"Just enter the first Part of the File Name  before the .svg\";s:8:\"required\";i:0;s:17:\"conditional_logic\";i:0;s:7:\"wrapper\";a:3:{s:5:\"width\";s:0:\"\";s:5:\"class\";s:0:\"\";s:2:\"id\";s:0:\"\";}s:13:\"default_value\";s:0:\"\";s:11:\"placeholder\";s:0:\"\";s:7:\"prepend\";s:0:\"\";s:6:\"append\";s:0:\"\";s:9:\"maxlength\";s:0:\"\";}','Private Proprietary SVG','private_proprietary_svg','publish','closed','closed','','field_60d3648180f58','','','2021-06-23 16:43:56','2021-06-23 16:43:56','',2575,'https://ns2020-investech.investech.com/?post_type=acf-field&p=8660',4,'acf-field','',0);
INSERT INTO `wp_posts` VALUES (8661,1,'2021-06-23 16:49:24','2021-06-23 16:49:24','<!-- wp:paragraph -->\n<p>Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first. &nbsp;Such was the case in the Tech Bubble during the late 90s, when the dot-com heavy NASDAQ Composite Index sank over -34% in five weeks after its March 2000 peak.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We designed the InvesTech Canary Index to provide a similar early warning that conditions could be getting dicey – just as miners used a canary to warn of dangerous gases when descending into the coal mine in the early 1900s. &nbsp;Our Canary Index is comprised of approximately 20 of the hottest, most speculative, and overvalued stocks in the market, including “story stocks”, hot IPOs, SPACs, and other favorites of the speculative crowd. &nbsp;Despite their extreme valuations, most of these member stocks have never turned a profit and many likely never will. &nbsp;Keep a close eye on our Canary Index, for if it starts to look sickly, it could confirm that the speculative peak is in place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":8209,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Canary-Index-1.svg\" alt=\"\" class=\"wp-image-8209\"/></figure>\n<!-- /wp:image -->','Canary Index','Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first.  ','inherit','closed','closed','','7976-revision-v1','','','2021-06-23 16:49:24','2021-06-23 16:49:24','',7976,'https://ns2020-investech.investech.com/?p=8661',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8662,1,'2021-06-23 16:50:15','2021-06-23 16:50:15','<!-- wp:paragraph -->\n<p>Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first. &nbsp;Such was the case in the Tech Bubble during the late 90s, when the dot-com heavy NASDAQ Composite Index sank over -34% in five weeks after its March 2000 peak.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We designed the InvesTech Canary Index to provide a similar early warning that conditions could be getting dicey – just as miners used a canary to warn of dangerous gases when descending into the coal mine in the early 1900s. &nbsp;Our Canary Index is comprised of approximately 20 of the hottest, most speculative, and overvalued stocks in the market, including “story stocks”, hot IPOs, SPACs, and other favorites of the speculative crowd. &nbsp;Despite their extreme valuations, most of these member stocks have never turned a profit and many likely never will. &nbsp;Keep a close eye on our Canary Index, for if it starts to look sickly, it could confirm that the speculative peak is in place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":8209,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/06/Canary-Index-1.svg\" alt=\"\" class=\"wp-image-8209\"/></figure>\n<!-- /wp:image -->','Canary Index','Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first.  ','inherit','closed','closed','','7976-revision-v1','','','2021-06-23 16:50:15','2021-06-23 16:50:15','',7976,'https://ns2020-investech.investech.com/?p=8662',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8663,3,'2021-06-23 19:39:55','2021-06-23 19:39:55','','Canary-Index','','inherit','closed','closed','','canary-index-3','','','2021-06-23 19:41:38','2021-06-23 19:41:38','',7976,'https://ns2020-investech.investech.com/wp-content/pdf_files_wp/Canary-Index.svg',0,'attachment','image/svg+xml',0);
INSERT INTO `wp_posts` VALUES (8664,3,'2021-06-23 19:42:10','2021-06-23 19:42:10','<!-- wp:paragraph -->\n<p>Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first. &nbsp;Such was the case in the Tech Bubble during the late 90s, when the dot-com heavy NASDAQ Composite Index sank over -34% in five weeks after its March 2000 peak.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We designed the InvesTech Canary Index to provide a similar early warning that conditions could be getting dicey – just as miners used a canary to warn of dangerous gases when descending into the coal mine in the early 1900s. &nbsp;Our Canary Index is comprised of approximately 20 of the hottest, most speculative, and overvalued stocks in the market, including “story stocks”, hot IPOs, SPACs, and other favorites of the speculative crowd. &nbsp;Despite their extreme valuations, most of these member stocks have never turned a profit and many likely never will. &nbsp;Keep a close eye on our Canary Index, for if it starts to look sickly, it could confirm that the speculative peak is in place.</p>\n<!-- /wp:paragraph -->','Canary Index','Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first.  ','inherit','closed','closed','','7976-revision-v1','','','2021-06-23 19:42:10','2021-06-23 19:42:10','',7976,'https://ns2020-investech.investech.com/?p=8664',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8665,3,'2021-06-23 19:42:12','2021-06-23 19:42:12','<!-- wp:paragraph -->\n<p>Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first. &nbsp;Such was the case in the Tech Bubble during the late 90s, when the dot-com heavy NASDAQ Composite Index sank over -34% in five weeks after its March 2000 peak.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We designed the InvesTech Canary Index to provide a similar early warning that conditions could be getting dicey – just as miners used a canary to warn of dangerous gases when descending into the coal mine in the early 1900s. &nbsp;Our Canary Index is comprised of approximately 20 of the hottest, most speculative, and overvalued stocks in the market, including “story stocks”, hot IPOs, SPACs, and other favorites of the speculative crowd. &nbsp;Despite their extreme valuations, most of these member stocks have never turned a profit and many likely never will. &nbsp;Keep a close eye on our Canary Index, for if it starts to look sickly, it could confirm that the speculative peak is in place.</p>\n<!-- /wp:paragraph -->','Canary Index','Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first.  ','inherit','closed','closed','','7976-revision-v1','','','2021-06-23 19:42:12','2021-06-23 19:42:12','',7976,'https://ns2020-investech.investech.com/?p=8665',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8666,3,'2021-06-23 19:45:10','2021-06-23 19:45:10','<!-- wp:paragraph -->\n<p>Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first. &nbsp;Such was the case in the Tech Bubble during the late 90s, when the dot-com heavy NASDAQ Composite Index sank over -34% in five weeks after its March 2000 peak.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We designed the InvesTech Canary Index to provide a similar early warning that conditions could be getting dicey – just as miners used a canary to warn of dangerous gases when descending into the coal mine in the early 1900s. &nbsp;Our Canary Index is comprised of approximately 20 of the hottest, most speculative, and overvalued stocks in the market, including “story stocks”, hot IPOs, SPACs, and other favorites of the speculative crowd. &nbsp;Despite their extreme valuations, most of these member stocks have never turned a profit and many likely never will. &nbsp;Keep a close eye on our Canary Index, for if it starts to look sickly, it could confirm that the speculative peak is in place.</p>\n<!-- /wp:paragraph -->','Canary Index','Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first.  ','inherit','closed','closed','','7976-revision-v1','','','2021-06-23 19:45:10','2021-06-23 19:45:10','',7976,'https://ns2020-investech.investech.com/?p=8666',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8667,3,'2021-06-23 19:45:38','2021-06-23 19:45:38','<!-- wp:paragraph -->\n<p>Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first. &nbsp;Such was the case in the Tech Bubble during the late 90s, when the dot-com heavy NASDAQ Composite Index sank over -34% in five weeks after its March 2000 peak.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We designed the InvesTech Canary Index to provide a similar early warning that conditions could be getting dicey – just as miners used a canary to warn of dangerous gases when descending into the coal mine in the early 1900s. &nbsp;Our Canary Index is comprised of approximately 20 of the hottest, most speculative, and overvalued stocks in the market, including “story stocks”, hot IPOs, SPACs, and other favorites of the speculative crowd. &nbsp;Despite their extreme valuations, most of these member stocks have never turned a profit and many likely never will. &nbsp;Keep a close eye on our Canary Index, for if it starts to look sickly, it could confirm that the speculative peak is in place.</p>\n<!-- /wp:paragraph -->','Canary Index','Asset bubbles have historically unwound in stages, with the areas of greatest speculation falling first.  ','inherit','closed','closed','','7976-revision-v1','','','2021-06-23 19:45:38','2021-06-23 19:45:38','',7976,'https://ns2020-investech.investech.com/?p=8667',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8750,3,'2021-06-28 19:29:30','2021-06-28 19:29:30','<!-- wp:spacer {\"height\":20} -->\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading -->\n<h2>InvesTech Research: A Proven Track Record for over 40 Years</h2>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"left\",\"id\":4264,\"width\":512,\"height\":342,\"sizeSlug\":\"large\",\"className\":\"push-left\"} -->\n<div class=\"wp-block-image push-left\"><figure class=\"alignleft size-large is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/11/office-photo-2-1024x683.jpg\" alt=\"\" class=\"wp-image-4264\" width=\"512\" height=\"342\"/><figcaption>Jim and his staff maintain over 120 years of financial and market data, and create all of the custom analysis software used by InvesTech Research in Whitefish, Montana.</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Based in scenic <a href=\"https://www.whitefishchamber.org/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Whitefish, Montana</a>, InvesTech Research offers a unique “safety-first\" strategy to our readers. Through our proven proprietary models and objective analysis, InvesTech has a 40-year history of accurately predicting market risk – telling investors when to be most bullish and when to become cautious.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research is over 2,200 miles away from Wall Street and we see this distance from main-stream financial industries as a core component of our philosophy and objective methodologies. We love our mountain view and are proud to be “Far From the Madding Crowd,” able to offer our readers the clear, researched, objective market analysis you rely on to inform your investment decisions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"className\":\"unclear\"} -->\n<h3 class=\"unclear\">A Philosophy Based on Experience</h3>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"align\":\"right\",\"id\":5161,\"width\":177,\"height\":236,\"sizeSlug\":\"full\",\"linkDestination\":\"none\",\"className\":\"spotlight-blue\"} -->\n<div class=\"wp-block-image spotlight-blue\"><figure class=\"alignright size-full is-resized\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/kiplingers-best-2015.jpg\" alt=\"Kiplinger\'s, &quot;The Best List, 2015\" class=\"wp-image-5161\" width=\"177\" height=\"236\"/><figcaption>Rated \"Best Source of Investment Advice\" by Kiplinger’s Personal Finance, 2015</figcaption></figure></div>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Formerly a project manager for IBM Research with a number of domestic and international patents to his credit, founder and president Jim Stack has a graduate degree in engineering, with post-graduate study in business. After launching InvesTech Research in 1979, Jim began national circulation of the <em>InvesTech Reseach</em> newsletter<em> </em>in December 1982.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Today, InvesTech publishes the <em>InvesTech Research</em> newsletter, and the <em>Interim Bulletin</em>, which has earned widespread recognition for its time-proven risk allocation strategy, as well as its in-depth analysis of the Federal Reserve. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Learn more about <a href=\"https://ns2020-investech.investech.com/company-philosophy/\">our philosophy</a> here.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Meet the InvesTech Research Team</h2>\n<!-- /wp:heading -->\n\n<!-- wp:group {\"align\":\"wide\",\"className\":\"wide-wrap\"} -->\n<div class=\"wp-block-group alignwide wide-wrap\"><div class=\"wp-block-group__inner-container\"><!-- wp:media-text {\"mediaId\":1745,\"mediaLink\":\"https://ns2020-investech.investech.com/james-stack-team/jbs/\",\"mediaType\":\"image\",\"mediaSizeSlug\":\"large\",\"imageFill\":false,\"className\":\"bio-card\"} -->\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile bio-card\"><figure class=\"wp-block-media-text__media\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/JBS-731x1024.jpg\" alt=\"James Stack, Founder and President, InvesTech Research\" class=\"wp-image-1745 size-large\"/></figure><div class=\"wp-block-media-text__content\"><!-- wp:heading {\"level\":3} -->\n<h3>James Stack</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>President</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Jim Stack is founder and president of InvesTech Research. Jim is dedicated to helping investors develop an objective, safety-first investment strategy focused on risk management which he provides through his research and writing of the <em>InvesTech Research</em> newsletter.</p>\n<!-- /wp:paragraph --></div></div>\n<!-- /wp:media-text -->\n\n<!-- wp:media-text {\"mediaPosition\":\"right\",\"mediaId\":1713,\"mediaLink\":\"https://ns2020-investech.investech.com/james-stack-team/ecp/\",\"mediaType\":\"image\",\"mediaSizeSlug\":\"large\",\"imageFill\":false,\"className\":\"bio-card\"} -->\n<div class=\"wp-block-media-text alignwide has-media-on-the-right is-stacked-on-mobile bio-card\"><figure class=\"wp-block-media-text__media\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/ECP-731x1024.jpg\" alt=\"Eli Petropoulos, Senior Market Analyst, IT\" class=\"wp-image-1713 size-large\"/></figure><div class=\"wp-block-media-text__content\"><!-- wp:heading {\"level\":3} -->\n<h3>Eli Petropoulos</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Senior Market Analyst</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Eli Petropoulos drives idea generation and newsletter content as well as writing for each InvesTech publication. In addition, he is critical to analyzing, maintaining, and interpreting InvesTech’s private financial database and its proprietary indicators.</p>\n<!-- /wp:paragraph --></div></div>\n<!-- /wp:media-text -->\n\n<!-- wp:media-text {\"mediaId\":1748,\"mediaLink\":\"https://ns2020-investech.investech.com/james-stack-team/clm/\",\"mediaType\":\"image\",\"mediaSizeSlug\":\"large\",\"imageFill\":false,\"className\":\"bio-card\"} -->\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile bio-card\"><figure class=\"wp-block-media-text__media\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/CLM-731x1024.jpg\" alt=\"Christina Maloney, Director of Research Services, IT\" class=\"wp-image-1748 size-large\"/></figure><div class=\"wp-block-media-text__content\"><!-- wp:heading {\"level\":3} -->\n<h3>Christina Maloney</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Director of Research Services</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Christina Maloney facilitates and supports daily operations from initial planning to the digital &amp; print publishing stages of the service. She is also highly involved in the newsletter design and website development for the firm.</p>\n<!-- /wp:paragraph --></div></div>\n<!-- /wp:media-text -->\n\n<!-- wp:media-text {\"mediaPosition\":\"right\",\"mediaId\":1714,\"mediaLink\":\"https://ns2020-investech.investech.com/james-stack-team/bjg/\",\"mediaType\":\"image\",\"mediaSizeSlug\":\"large\",\"imageFill\":false,\"className\":\"bio-card\"} -->\n<div class=\"wp-block-media-text alignwide has-media-on-the-right is-stacked-on-mobile bio-card\"><figure class=\"wp-block-media-text__media\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/BJG-732x1024.jpg\" alt=\"Bailey Gage, Subscription Manager, IT\" class=\"wp-image-1714 size-large\"/></figure><div class=\"wp-block-media-text__content\"><!-- wp:heading {\"level\":3} -->\n<h3>Bailey Gage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Subscription Manager</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Bailey Gage provides the highest level of customer service to InvesTech subscribers with accurate subscription processing and detailed account maintenance. She is also a key participant in research and graphic creation for our publications and marketing materials.</p>\n<!-- /wp:paragraph --></div></div>\n<!-- /wp:media-text -->\n\n<!-- wp:media-text {\"mediaId\":1747,\"mediaLink\":\"https://ns2020-investech.investech.com/james-stack-team/las-1/\",\"mediaType\":\"image\",\"mediaSizeSlug\":\"large\",\"imageFill\":false,\"className\":\"bio-card\"} -->\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile bio-card\"><figure class=\"wp-block-media-text__media\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/LAS-1-732x1024.jpg\" alt=\"Lisa Stack, CFO, InvesTech Research\" class=\"wp-image-1747 size-large\"/></figure><div class=\"wp-block-media-text__content\"><!-- wp:heading {\"level\":3} -->\n<h3>Lisa Stack</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Chief Financial Officer</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Lisa Stack participated in growing InvesTech Research in its early years. She is now integral to its financial operations and strategic planning as well as providing leadership to the company’s ongoing vision.</p>\n<!-- /wp:paragraph --></div></div>\n<!-- /wp:media-text --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group -->\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container\"><!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:heading {\"textAlign\":\"center\",\"fontSize\":\"medium\"} -->\n<h2 class=\"has-text-align-center has-medium-font-size\">InvesTech Research is regularly featured in the following publications:</h2>\n<!-- /wp:heading -->\n\n<!-- wp:block {\"ref\":5175} /-->\n\n<!-- wp:buttons {\"contentJustification\":\"center\"} -->\n<div class=\"wp-block-buttons is-content-justification-center\"><!-- wp:button -->\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https://ns2020-investech.investech.com/in-the-news/\">Find us In the News</a></div>\n<!-- /wp:button --></div>\n<!-- /wp:buttons -->\n\n<!-- wp:block {\"ref\":5238} /--></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":6293} /-->','About Us','','inherit','closed','closed','','777-revision-v1','','','2021-06-28 19:29:30','2021-06-28 19:29:30','',777,'https://ns2020-investech.investech.com/?p=8750',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8752,3,'2021-06-28 19:35:44','2021-06-28 19:35:44','<!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading -->\n<h2>Why subscribe to the InvesTech Research publications?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research is governed by a “Safety-First” investment strategy which is committed to helping you protect and conserve your money against losses and to helping you spot tremendous buying opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"two-cols is-style-green-checkbox\"} -->\n<ul class=\"two-cols is-style-green-checkbox\"><li><strong>We have a proven track record.</strong> For 40 years, we have successfully navigated a volatile market with our “Safety-First” strategy, providing valuable insights to our subscribers.</li><li><strong>Over 120 years of data inform our publications.</strong> InvesTech has developed one of the largest private databanks in the industry including technical, monetary, and macroeconomic data. Through this wealth of market information, we\'re able to spot trends and detect patterns that most other advisories miss.</li><li><strong>Time-proven proprietary indicators and tools.</strong> We are unique in our ability to analyze both the monetary policy of the Federal Reserve as well as the technical health of the stock market, and what it means for your portfolio ahead.</li><li><strong>InvesTech provides 100% independent, objective analysis.</strong> We sell no investment products. We provide an informed objectivity that you will not get from brokers, mutual fund advisors, and even many investment newsletters.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall pad-3-0 primary-dark\"} -->\n<div class=\"wp-block-group wall-to-wall pad-3-0 primary-dark\"><div class=\"wp-block-group__inner-container\"><!-- wp:group {\"className\":\"make-slick pad-3-0\"} -->\n<div class=\"wp-block-group make-slick pad-3-0\"><div class=\"wp-block-group__inner-container\"><!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>You have made us a lot of money, but you have saved us even more.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>You have the discipline of a seasoned technician, but you also have the insight of a brilliant theoretician. That is a very rare combination. You have made us a lot of money, but you have saved us even more.</p><cite>– B.P., San Juan Capistrano, CA</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>Fundamental insights.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>I’d like to offer a special word of praise for all the work the entire InvesTech staff of professionals does to help bring meaningful technical and fundamental insights to the attention of your subscribers. There is no one who can compare with what you do or the way in which you do it.</p><cite>– P.E.P., Ph.D. Okemos, MI</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>Sanity!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>You guys add sanity to more than counterbalance what you see and hear in the so-called ‘business news.’ Thank you for helping me keep my family’s financial plan on course.</p><cite>– F.D., Baldwinsville, NY</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>\"Top of the Class\" independent thinking.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>I have followed Jim carefully over these many years, and I am absolutely convinced that he is the ‘top of the class’ of independent thinkers.</p><cite>– C.C., Inverness, IL</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group --></div></div>\n<!-- /wp:group --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"33.33%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:33.33%\"><!-- wp:heading -->\n<h2>Trusted insight and analysis backed by our 40-year proven track record.</h2>\n<!-- /wp:heading --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"66.66%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:66.66%\"><!-- wp:paragraph -->\n<p>InvesTech has successfully navigated the past 40 years of market gyrations and major bear markets, including the 1987 Crash, the Tech Bubble of the late 1990s, and the 2007 Housing Bubble and Great Recession. InvesTech transforms the art of technical analysis into a more precise “science” – easily explained for both seasoned professionals and non-technical investors.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:block {\"ref\":5182} /-->\n\n<!-- wp:paragraph -->\n<p>Become a subscriber today for full access to our publications, proprietary indicators, market insights, and other tools.  Call our office at (406) 862-7777 (Monday-Friday, 8:30 am-5:00 pm Mountain Time) with any questions.  <strong>We are here to assist you!</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:buttons {\"contentJustification\":\"center\",\"className\":\"redBtn\"} -->\n<div class=\"wp-block-buttons is-content-justification-center redBtn\"><!-- wp:button -->\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https://ns2020-investech.investech.com/product/subscriptions/\">Become a Subscriber</a></div>\n<!-- /wp:button --></div>\n<!-- /wp:buttons -->\n\n<!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:block {\"ref\":6469} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall neutral-warm pad-3-0\"} -->\n<div class=\"wp-block-group wall-to-wall neutral-warm pad-3-0\"><div class=\"wp-block-group__inner-container\"><!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\"><!-- wp:image {\"align\":\"center\",\"id\":5104,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/award-cup.svg\" alt=\"A magnificent trophy\" class=\"wp-image-5104\"/></figure></div>\n<!-- /wp:image --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"45%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:45%\"><!-- wp:image {\"id\":5105,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/kiplinger-logo.svg\" alt=\"Kiplinger Logo\" class=\"wp-image-5105\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Rated Best Source of Investment Advice by Kiplinger Personal Finance Magazine.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"className\":\"red-caps\"} -->\n<p class=\"red-caps\"><strong>Best Stock Market Letter</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"className\":\"em-red\"} -->\n<p class=\"em-red\">InvesTech Research, which promises ‘safety-first profits,’ has bested the overall stock market over the long haul with less risk. Publisher James Stack analyzes economic, monetary and market data (some going back more than 100 years) to make market calls and recommend allocations. <em>– Kiplinger Personal Finance</em></p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"width\":\"15%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:15%\"></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:heading -->\n<h2>InvesTech Research is frequently quoted in the following:</h2>\n<!-- /wp:heading -->\n\n<!-- wp:gallery {\"ids\":[2808,2809,2810,2897,2811,2899],\"linkTo\":\"none\",\"className\":\"multiply\"} -->\n<figure class=\"wp-block-gallery columns-3 is-cropped multiply\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Forbes.png\" alt=\"\" data-id=\"2808\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Forbes.png\" data-link=\"https://ns2020-investech.investech.com/forbes/\" class=\"wp-image-2808\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/11/Yahoo-Finance.png\" alt=\"\" data-id=\"2809\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/11/Yahoo-Finance.png\" data-link=\"https://ns2020-investech.investech.com/yahoo-finance/\" class=\"wp-image-2809\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/08/MoneyShow.png\" alt=\"\" data-id=\"2810\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/08/MoneyShow.png\" data-link=\"https://ns2020-investech.investech.com/moneyshow/\" class=\"wp-image-2810\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/Barrons.png\" alt=\"\" data-id=\"2897\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/Barrons.png\" data-link=\"https://ns2020-investech.investech.com/in-the-news/barrons/\" class=\"wp-image-2897\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/07/Marketwatch.png\" alt=\"\" data-id=\"2811\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/07/Marketwatch.png\" data-link=\"https://ns2020-investech.investech.com/marketwatch/\" class=\"wp-image-2811\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/New-York-Times.png\" alt=\"\" data-id=\"2899\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/New-York-Times.png\" data-link=\"https://ns2020-investech.investech.com/in-the-news/new-york-times/\" class=\"wp-image-2899\"/></figure></li></ul></figure>\n<!-- /wp:gallery --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:heading -->\n<h2>Subscriber Library</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Curated articles from our publication archive available to subscribers at all levels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:acf/subscriber-content-teaser {\n    \"id\": \"block_604bb05a5584e\",\n    \"name\": \"acf\\/subscriber-content-teaser\",\n    \"data\": {\n        \"post_to_show\": [\n            \"2497\",\n            \"2418\",\n            \"2468\"\n        ],\n        \"_post_to_show\": \"field_5f2aeab7381f9\",\n        \"post_type_to_show\": \"investech-library\",\n        \"_post_type_to_show\": \"field_5f2aec3f2eccd\",\n        \"number_to_show\": \"3\",\n        \"_number_to_show\": \"field_5f2aec6a2ecce\"\n    },\n    \"align\": \"\",\n    \"mode\": \"edit\"\n} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall neutral-warm\"} -->\n<div class=\"wp-block-group wall-to-wall neutral-warm\"><div class=\"wp-block-group__inner-container\"><!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:heading -->\n<h2>About InvesTech Research</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Dedicated to bringing sophisticated analysis of the stock market to the average investor, InvesTech Research began national circulation of its Narket Newsletter in December 1982. Today, InvesTech publishes the InvesTech Research Market Newsletter, and the Interim Bulletin, which has earned widespread recognition for its time-proven risk allocation strategy, as well as its in-depth analysis of the Federal Reserve. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><a href=\"https://ns2020-investech.investech.com/about-investech/\">Learn more about InvesTech Research here.</a></p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:image {\"id\":2230,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Webcam-1-1024x576.jpg\" alt=\"\" class=\"wp-image-2230\"/><figcaption>Looking north from our office, we have an incredible view of Big Mountain, which stands just west of Glacier National Park and is part of the Flathead National Forest. View our live webcam, weather and daylight permitting. If the clouds have rolled in, then you can also browse some of our favorite photos taken on nicer days.</figcaption></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer --></div></div>\n<!-- /wp:group -->','Your Guide to “Safety First” Profits','','inherit','closed','closed','','4-revision-v1','','','2021-06-28 19:35:44','2021-06-28 19:35:44','',4,'https://ns2020-investech.investech.com/?p=8752',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8753,3,'2021-06-28 19:36:17','2021-06-28 19:36:17','<!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading -->\n<h2>Why subscribe to the InvesTech Research publications?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research is governed by a “Safety-First” investment strategy which is committed to helping you protect and conserve your money against losses and to helping you spot tremendous buying opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"two-cols is-style-green-checkbox\"} -->\n<ul class=\"two-cols is-style-green-checkbox\"><li><strong>We have a proven track record.</strong> For 40 years, we have successfully navigated a volatile market with our “Safety-First” strategy, providing valuable insights to our subscribers.</li><li><strong>Over 120 years of data inform our publications.</strong> InvesTech has developed one of the largest private databanks in the industry including technical, monetary, and macroeconomic data. Through this wealth of market information, we\'re able to spot trends and detect patterns that most other advisories miss.</li><li><strong>Time-proven proprietary indicators and tools.</strong> We are unique in our ability to analyze both the monetary policy of the Federal Reserve as well as the technical health of the stock market, and what it means for your portfolio ahead.</li><li><strong>InvesTech provides 100% independent, objective analysis.</strong> We sell no investment products. We provide an informed objectivity that you will not get from brokers, mutual fund advisors, and even many investment newsletters.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall pad-3-0 primary-dark\"} -->\n<div class=\"wp-block-group wall-to-wall pad-3-0 primary-dark\"><div class=\"wp-block-group__inner-container\"><!-- wp:group {\"className\":\"make-slick pad-3-0\"} -->\n<div class=\"wp-block-group make-slick pad-3-0\"><div class=\"wp-block-group__inner-container\"><!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>You have made us a lot of money, but you have saved us even more.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>You have the discipline of a seasoned technician, but you also have the insight of a brilliant theoretician. That is a very rare combination. You have made us a lot of money, but you have saved us even more.</p><cite>– B.P., San Juan Capistrano, CA</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>Fundamental insights.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>I’d like to offer a special word of praise for all the work the entire InvesTech staff of professionals does to help bring meaningful technical and fundamental insights to the attention of your subscribers. There is no one who can compare with what you do or the way in which you do it.</p><cite>– P.E.P., Ph.D. Okemos, MI</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>Sanity!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>You guys add sanity to more than counterbalance what you see and hear in the so-called ‘business news.’ Thank you for helping me keep my family’s financial plan on course.</p><cite>– F.D., Baldwinsville, NY</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>\"Top of the Class\" independent thinking.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>I have followed Jim carefully over these many years, and I am absolutely convinced that he is the ‘top of the class’ of independent thinkers.</p><cite>– C.C., Inverness, IL</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group --></div></div>\n<!-- /wp:group --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"33.33%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:33.33%\"><!-- wp:heading -->\n<h2>Trusted insight and analysis backed by our 40-year proven track record.</h2>\n<!-- /wp:heading --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"66.66%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:66.66%\"><!-- wp:paragraph -->\n<p>InvesTech has successfully navigated the past 40 years of market gyrations and major bear markets, including the 1987 Crash, the Tech Bubble of the late 1990s, and the 2007 Housing Bubble and Great Recession. InvesTech transforms the art of technical analysis into a more precise “science” – easily explained for both seasoned professionals and non-technical investors.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:block {\"ref\":5182} /-->\n\n<!-- wp:paragraph -->\n<p>Become a subscriber today for full access to our publications, proprietary indicators, market insights, and other tools.  Call our office at (406) 862-7777 (Monday-Friday, 8:30 am-5:00 pm Mountain Time) with any questions.  <strong>We are here to assist you!</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:buttons {\"contentJustification\":\"center\",\"className\":\"redBtn\"} -->\n<div class=\"wp-block-buttons is-content-justification-center redBtn\"><!-- wp:button -->\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https://ns2020-investech.investech.com/product/subscriptions/\">Become a Subscriber</a></div>\n<!-- /wp:button --></div>\n<!-- /wp:buttons -->\n\n<!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:block {\"ref\":6469} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall neutral-warm pad-3-0\"} -->\n<div class=\"wp-block-group wall-to-wall neutral-warm pad-3-0\"><div class=\"wp-block-group__inner-container\"><!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\"><!-- wp:image {\"align\":\"center\",\"id\":5104,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/award-cup.svg\" alt=\"A magnificent trophy\" class=\"wp-image-5104\"/></figure></div>\n<!-- /wp:image --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"45%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:45%\"><!-- wp:image {\"id\":5105,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/kiplinger-logo.svg\" alt=\"Kiplinger Logo\" class=\"wp-image-5105\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Rated Best Source of Investment Advice by Kiplinger Personal Finance Magazine.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"className\":\"red-caps\"} -->\n<p class=\"red-caps\"><strong>Best Stock Market Letter</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"className\":\"em-red\"} -->\n<p class=\"em-red\">InvesTech Research, which promises ‘safety-first profits,’ has bested the overall stock market over the long haul with less risk. Publisher James Stack analyzes economic, monetary and market data (some going back more than 100 years) to make market calls and recommend allocations. <em>– Kiplinger Personal Finance</em></p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"width\":\"15%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:15%\"></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:heading -->\n<h2>InvesTech Research is frequently quoted in the following:</h2>\n<!-- /wp:heading -->\n\n<!-- wp:gallery {\"ids\":[2808,2809,2810,2897,2811,2899],\"linkTo\":\"none\",\"className\":\"multiply\"} -->\n<figure class=\"wp-block-gallery columns-3 is-cropped multiply\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Forbes.png\" alt=\"\" data-id=\"2808\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Forbes.png\" data-link=\"https://ns2020-investech.investech.com/forbes/\" class=\"wp-image-2808\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/11/Yahoo-Finance.png\" alt=\"\" data-id=\"2809\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/11/Yahoo-Finance.png\" data-link=\"https://ns2020-investech.investech.com/yahoo-finance/\" class=\"wp-image-2809\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/08/MoneyShow.png\" alt=\"\" data-id=\"2810\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/08/MoneyShow.png\" data-link=\"https://ns2020-investech.investech.com/moneyshow/\" class=\"wp-image-2810\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/Barrons.png\" alt=\"\" data-id=\"2897\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/Barrons.png\" data-link=\"https://ns2020-investech.investech.com/in-the-news/barrons/\" class=\"wp-image-2897\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/07/Marketwatch.png\" alt=\"\" data-id=\"2811\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/07/Marketwatch.png\" data-link=\"https://ns2020-investech.investech.com/marketwatch/\" class=\"wp-image-2811\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/New-York-Times.png\" alt=\"\" data-id=\"2899\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/New-York-Times.png\" data-link=\"https://ns2020-investech.investech.com/in-the-news/new-york-times/\" class=\"wp-image-2899\"/></figure></li></ul></figure>\n<!-- /wp:gallery --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:heading -->\n<h2>Subscriber Library</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Curated articles from our publication archive available to subscribers at all levels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:acf/subscriber-content-teaser {\n    \"id\": \"block_604bb05a5584e\",\n    \"name\": \"acf\\/subscriber-content-teaser\",\n    \"data\": {\n        \"post_to_show\": [\n            \"2497\",\n            \"2418\",\n            \"2468\"\n        ],\n        \"_post_to_show\": \"field_5f2aeab7381f9\",\n        \"post_type_to_show\": \"investech-library\",\n        \"_post_type_to_show\": \"field_5f2aec3f2eccd\",\n        \"number_to_show\": \"3\",\n        \"_number_to_show\": \"field_5f2aec6a2ecce\"\n    },\n    \"align\": \"\",\n    \"mode\": \"edit\"\n} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall neutral-warm\"} -->\n<div class=\"wp-block-group wall-to-wall neutral-warm\"><div class=\"wp-block-group__inner-container\"><!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:heading -->\n<h2>About InvesTech Research</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Dedicated to bringing sophisticated analysis of the stock market to the average investor, InvesTech Research began national circulation of its Narket Newsletter in December 1982. Today, InvesTech publishes the InvesTech Research Market Newsletter, and the Interim Bulletin, which has earned widespread recognition for its time-proven risk allocation strategy, as well as its in-depth analysis of the Federal Reserve. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><a href=\"https://ns2020-investech.investech.com/about-us/\">Learn more about InvesTech Research here.</a></p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:image {\"id\":2230,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Webcam-1-1024x576.jpg\" alt=\"\" class=\"wp-image-2230\"/><figcaption>Looking north from our office, we have an incredible view of Big Mountain, which stands just west of Glacier National Park and is part of the Flathead National Forest. View our live webcam, weather and daylight permitting. If the clouds have rolled in, then you can also browse some of our favorite photos taken on nicer days.</figcaption></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer --></div></div>\n<!-- /wp:group -->','Your Guide to “Safety First” Profits','','inherit','closed','closed','','4-revision-v1','','','2021-06-28 19:36:17','2021-06-28 19:36:17','',4,'https://ns2020-investech.investech.com/?p=8753',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8755,3,'2021-06-28 19:43:11','2021-06-28 19:43:11','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"whatinformation\">What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"howuse\">How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"thirdparties\">Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"lawfulbasis\">Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"dataprotectionrights\">What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"optoutprocedures\">Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"security\">Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"retention\">Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"minors\">Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"infocollected\">Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"cookies\">What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"howcookies\">How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"typescookies\">What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"managecookies\">How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"privacy\">Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"changes\">Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:43:11','2021-06-28 19:43:11','',191,'https://ns2020-investech.investech.com/?p=8755',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8756,3,'2021-06-28 19:43:54','2021-06-28 19:43:54','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"whatinformation\"><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"howuse\">How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"thirdparties\">Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"lawfulbasis\">Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"dataprotectionrights\">What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"optoutprocedures\">Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"security\">Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"retention\">Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"minors\">Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"infocollected\">Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"cookies\">What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"howcookies\">How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"typescookies\">What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"managecookies\">How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"privacy\">Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"changes\">Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:43:54','2021-06-28 19:43:54','',191,'https://ns2020-investech.investech.com/?p=8756',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8758,3,'2021-06-28 19:45:05','2021-06-28 19:45:05','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"whatinformation\"><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"howuse\">How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"thirdparties\">Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"lawfulbasis\">Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"dataprotectionrights\">What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"optoutprocedures\">Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"security\">Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"retention\">Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"minors\">Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"infocollected\">Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"cookies\">What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"howcookies\">How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"typescookies\">What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"managecookies\">How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"privacy\">Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"changes\">Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:45:05','2021-06-28 19:45:05','',191,'https://ns2020-investech.investech.com/?p=8758',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8759,3,'2021-06-28 19:46:21','2021-06-28 19:46:21','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"whatinformation\"><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"howuse\"><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"thirdparties\">Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"lawfulbasis\">Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"dataprotectionrights\">What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"optoutprocedures\">Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"security\">Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"retention\">Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"minors\">Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"infocollected\">Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"cookies\">What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"howcookies\">How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"typescookies\">What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"managecookies\">How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"privacy\">Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"changes\">Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:46:21','2021-06-28 19:46:21','',191,'https://ns2020-investech.investech.com/?p=8759',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8761,3,'2021-06-28 19:50:12','2021-06-28 19:50:12','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"whatinformation\"><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"howuse\"><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"thirdparties\">To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"lawfulbasis\"><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"dataprotectionrights\"><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"optoutprocedures\">To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"security\">If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"retention\">As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"minors\">To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"infocollected\">Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"cookies\">This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"howcookies\">For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"typescookies\">When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"managecookies\">This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"privacy\">You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"changes\">Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:50:12','2021-06-28 19:50:12','',191,'https://ns2020-investech.investech.com/?p=8761',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8764,3,'2021-06-28 19:53:03','2021-06-28 19:53:03','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"whatinformation\"><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"howuse\"><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"thirdparties\">To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"lawfulbasis\"><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"dataprotectionrights\"><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"optoutprocedures\"><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"security\">If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"retention\">As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"minors\">To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"infocollected\">Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"cookies\">This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"howcookies\">For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"typescookies\">When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"managecookies\">This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"privacy\">You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"changes\">Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:53:03','2021-06-28 19:53:03','',191,'https://ns2020-investech.investech.com/?p=8764',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8765,3,'2021-06-28 19:53:50','2021-06-28 19:53:50','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"whatinformation\"><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"howuse\"><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"thirdparties\">To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"lawfulbasis\"><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"dataprotectionrights\"><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"optoutprocedures\"><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"security\">If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"retention\">InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"minors\">To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"infocollected\">Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"cookies\">This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"howcookies\">For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"typescookies\">When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"managecookies\">This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"privacy\">You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"changes\">Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:53:50','2021-06-28 19:53:50','',191,'https://ns2020-investech.investech.com/?p=8765',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8766,3,'2021-06-28 19:54:45','2021-06-28 19:54:45','<!-- wp:paragraph -->\n<p>InvesTech Research, LLC (\"InvesTech,\" \"us,\" \"our,\" \"we\") respects your privacy and is committed to informing you of what information we collect, how we use it, and what security measures we have taken to protect your information, including your personal data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy (also referred to as \"Policy\") describes how we collect and use personal information that may directly, or indirectly, identify you during and after your relationship with us and/or through our Site (collectively, \"Personal Information\"). In particular, this Privacy Policy describes the basis upon which and for what purposes we process your Personal Information, as well as your privacy rights under certain privacy laws including, where applicable, under US privacy laws and the European Union\'s (\"EU\") General Data Protection Regulation (\"GDPR\"), and how we protect your Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By visiting this Site, you are accepting the practices described in this Policy. If you do not agree to this Policy, please do not use this Site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Topics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"how\"><a href=\"#how\">How Do We Collect Your Information?</a><br><a href=\"#whatinformation\">What Information Do We Collect?</a><br><a href=\"#howuse\">How Will We Use Your Information?</a><br><a href=\"#thirdparties\">Providing Information to Third-Parties</a><br><a href=\"#lawfulbasis\">Lawful Basis for Processing</a><br><a href=\"#dataprotectionrights\">What are Your Data Protection Rights?</a><br><a href=\"#optoutprocedures\">Updates and Opt-Out Procedures</a><br><a href=\"#security\">Security</a><br><a href=\"#retention\">Retention of Personal Information</a><br><a href=\"#minors\">Our Site is Not for Use by Minors<br></a><a href=\"#infocollected\">Information Collected from Users Outside the United States<br></a><a href=\"#cookies\">What are Cookies?</a><br><a href=\"#howcookies\">How Do We Use Cookies?</a><br><a href=\"#typescookies\">What Types of Cookies Do We Use?<br></a><a href=\"#managecookies\">How to Manage Cookies</a><br><a href=\"#privacy\">Privacy Policies of Other Websites</a><br><a href=\"#changes\">Changes to Our Privacy Policy</a><br><a href=\"#contact\">How to Contact InvesTech</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Collect Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our services (\"Services\"). For further details, please see the \"How Will We Use Your Information?\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information from the following sources:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"whatinformation\"><li>Information Collected Directly from You: We may collect Personal Information, such as your name, address, telephone number, etc.,–directly from you. For example, Personal Information may be collected when you fill out a \"Subscribe Now\" form, create a username and login, register for events we host or sponsor, or otherwise provide us information through the Site.</li><li>Information Collected Through Our Site: When you visit <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com </a>and use our \"Subscribe Now\" form, certain information may be collected. Among the types of information that may be collected are:<ul><li>domain names of visitors to our Site;</li><li>your name, address, e-mail address and any additional information you provide in the \"Subscribe\" form or other forms on our Site;</li><li>\"navigational information\" regarding the traffic patterns of our Site, including the number of visits to a particular page and user-specific information on which pages a guest visits, average length of time spent on the Site and similar Site usage data;</li><li>any information that you may choose to submit in connection with any e-mail messages, on-site surveys, and the like; and</li><li>cookies that track your IP address and certain other information from you when you visit our Site. For further details, please see the \"How Do We Use Cookies?\" section below.</li></ul></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What Information Do We Collect?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We collect Personal Information in order to provide you with our Services. This type of personal information that we collect may include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"howuse\"><li>personally identifying information such as name, telephone, mailing address, email address, and fax number;</li><li>digital footprint data such as e-mail, login information, and IP addresses;</li><li>financial information such as credit card information; and</li><li>employment data such as job position and business contact information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>How Will We Use Your Information?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As discussed in detail below, we may use your Personal Information:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to administer our relationship and maintain Services;</li><li>for marketing and business development; or</li><li>for historical and statistical purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Provide Subscription Services</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Where it is necessary to communicate with and perform our Services for our subscribers or to take steps at our subscriber’s request to provide Services, InvesTech may collect or generate additional details about you during the course of such engagement in order to provide you with our Services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>To Communicate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In order to communicate efficiently, correspondence and documents may be sent by unencrypted email. You will be aware that this is not guaranteed as a secure method of communication, nor are there any service standards for delivery. If you would prefer us not to use unencrypted email, please contact us using the information in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Newsletters, Mailing Lists, Direct Marketing, and Business Development</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In connection to our Services, we use your Personal Information for direct marketing purposes, including sending you newsletters, alerts and information we think may interest you either electronically and/or post-mail. We may use Personal Information in order to identify potential business opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may update your preferences or opt out at any time. For more information on how to do this, please see the \"Updates and Opt-Out Procedures\" section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>For Analytics and Improvement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"thirdparties\">To better understand how users access and use the Site, our other services and offerings, and for other research and analytical purposes, such as to evaluate and improve our services and business operations and to develop services and features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Providing Information to Third-Parties</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech does not share your Personal Information with third-parties (including nonaffiliates and/or business partners) so that they may directly market to you. The third-parties with whom we may need to share Personal Information to help us provide Services to you and to maintain our Site include:<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"lawfulbasis\"><li>our business partners for publications and events co-organized by InvesTech and them;</li><li>our sister company, Stack Financial Management, Inc. (“SFM”), if you indicate an interest in professional money management services on a survey or if you contact SFM directly; and</li><li>law enforcement authorities, government officials, and others to support auditing, compliance, and corporate governance functions, to prevent fraud against InvesTech, or to comply with any and all applicable laws.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Lawful Basis for Processing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech only processes your Personal Information where we have a lawful basis for doing so, such as the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"dataprotectionrights\"><li><strong>User Consent:</strong> This is where you give us your freely, informed, and voluntary consent to process your Personal Information in connection to our Services.</li><li><strong>Contractual Necessity: </strong>This is where we process your Personal Information to fulfill a contract.</li><li><strong>Legal Obligation:</strong> This is where we process your Personal Information to comply with applicable rules, laws, and regulations.</li><li><strong>Legitimate Business Purposes: </strong>This is where we have a legitimate interest, as a business, to process your Personal Information.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>What are Your Data Protection Rights?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To the extent permitted by the applicable law of your jurisdiction, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>to have your Personal Information corrected, for example, if it is incomplete or incorrect;</li><li>to opt out of receiving marketing communications at any time; and</li><li>the right to file a complaint with an applicable government regulator such as a Data Protection Authority.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>In addition to the foregoing, if you are located in the European Economic Area (\"EEA\"), to the extent permitted by applicable law, in relation to your Personal Information, you may request:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"optoutprocedures\"><li>to access the Personal Information held by us about you;</li><li>the right to restrict or object to the processing of your Personal Information, or request that your Personal Information is erased;</li><li>the right to receive a copy of the Personal Information which you have provided to the firm, in a structured, commonly used and machine-readable format (known as \"data portability\"); and</li><li>where you have provided Personal Information voluntarily, or otherwise consented to its use, the right to withdraw your consent.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To help protect your privacy and maintain security, we may take steps to verify your identity before granting you access to your information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Updates and Opt-Out Procedures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We will endeavor to ensure your Personal Information is kept accurate, complete, up-to-date and relevant. If you feel your Personal Information is not accurate, complete or up-to-date, you can either log into your account and make changes to your contact information or you can notify us and we will take reasonable steps to ensure it is corrected. You can contact us using the details listed in the “How to Contact InvesTech” section below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"security\">If you are located in a jurisdiction that requires opt-in consent to receive electronic marketing messages, please notify us, and we will only send you such messages if you opt in to receive them. To opt out of receiving e-mails or other direct marketing communications, such as commercial emails, please contact us using the information in the “How to Contact InvesTech” section below. The scope of your choice to opt out will remain subject to applicable laws, rules, and regulations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Security</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"retention\">InvesTech makes every effort to protect the security of your Personal Information. We are committed to keeping Personal Information secure and we have implemented appropriate information security policies, rules and technical measures to protect the Personal Information that we have under our control from unauthorized access, improper use or disclosure, unauthorized modification and unlawful destruction or accidental loss. All our employees who have access to, and are associated with the processing of Personal Information, are obligated to respect the confidentiality of such Personal Information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you are likely aware, no transmission over the internet is completely secure or error-free, and that the information security policies, rules and technical measures utilized and maintained by us may be subject to compromise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Retention of Personal Information</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"minors\">To the extent permitted by applicable law, we retain your Personal Information for the period necessary to serve the purposes for which we obtained it. We may also retain your Personal Information beyond such period in accordance with applicable laws, regulations, or another lawful basis, including but not limited to, compliance with our contractual obligations, legal obligations, regulatory obligations, legal claims, or another legitimate interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Our Site is Not for Use by Minors</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"infocollected\">Our Site is not directed to any person under the age of 16 years. By using the Site, you represent and warrant that you are at least 16 years old. The Site does not contain an application or other mechanism to determine the age of users. All information provided to us will be treated as if it was provided by a person 16 years or older. If, however, we learn that a person has submitted information about himself or herself to us and is under the age of 16, we will attempt to delete the account and any related information as soon as possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Information Collected from Users Outside the United States</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"cookies\">This Site is hosted in the United States. If you are visiting the Site from outside the United States, your information may be transferred to, stored and processed in the United States in accordance with this Privacy Policy and applicable US laws. Please note that data protection and other applicable laws of the United States may not be as comprehensive as those laws or regulations in your country or may otherwise differ from the data protection or consumer protection laws in your country. By using this Site, you consent to the transfer of your information to our facilities as described in this Privacy Policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What are Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"howcookies\">A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things (e.g., remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website). When you visit our website (“Site”), we may collect information from you automatically through cookies or similar technology.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For additional information, visit <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">www.allaboutcookies.org</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Do We Use Cookies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We use cookies to personalize our Site to better suit your needs (e.g., save personal preferences indicated by you) and to provide a more effective route to various components of our Site. Specifically, we use cookies for the following purposes:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Analytical purposes: </strong>Analytical cookies allow us to recognize, measure and track visitors to our Site. This helps us to improve and develop the way our Site works, for example, by determining whether Site visitors can find information easily, or by identifying the aspects of the Site that are of the most interest to them.</li><li><strong>Usage preferences:</strong> Some of the cookies on our Site are activated when visitors to our Site make a choice about their usage of the Site. Our Site then \'remembers\' the settings preferences of the user concerned. This allows us to tailor aspects of the Site to the individual user.</li><li><strong>Terms and conditions: </strong>We use cookies on our Site to record when a Site visitor has seen a policy, such as this one, or provided consent, such as consent to the terms and conditions on our Site. This helps to improve the user\'s experience of our Site - for example, it avoids repeatedly asking a user to consent to the same terms.</li><li><strong>Session management: </strong>The software that runs our Site uses cookies for technical purposes needed by the internal workings of our servers. For instance, we use cookies to distribute requests among multiple servers, authenticate users and determine what features of the Site they can access, verify the origin of requests, keep track of information about a user\'s session and determine which options or pages to display in order for the Site to function.</li><li><strong>Functional purposes</strong>: Functional purpose cookies store information that is needed by our applications to process and operate. For example, where transactions or requests within an application involve multiple workflow stages, cookies are used to store the information from each stage temporarily, in order to facilitate completion of the overall transaction or request.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"typescookies\">When you visit our Site, you may receive cookies that are set by third-parties. These cookies are used for the purposes described in the bullet points above. We do not control the settings of these third-party cookies, so we suggest you check the third-party websites for more information about their use of cookies and how to manage them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Types of Cookies Do We Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a number of different types of cookies, however, our Site uses:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Login cookies</strong>: This site uses a login cookie to maintain access to the subscriber section of our site. Clicking the “Remember Login” during the login process will activate this cookie.</li><li><strong>Time zone cookies: </strong>This site uses a cookie to track the time zone that the connecting device is in.</li><li><strong>Session cookies: </strong>The session cookie maintains your user experience from page to page.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"managecookies\">This Site uses Google Analytics, a web analysis service provided by Google LLC (\"Google\"), to help us understand how site visitors use our Site and to continuously improve the user experience. The information generated about your use of this Site may be transferred to and stored in a Google server in the United States or otherwise outside of the EU. We use Google Analytics for aggregated, anonymized website traffic analysis and track website behavior such as what pages you looked at and for how long. To track your session usage, Google drops a cookie with a randomly generated ClientID in your browser. This ID is anonymized and contains no identifiable information like email, phone number, name, etc. We also send Google your IP Address. If you would like to opt out of Google Analytics entirely, download and install Google’s <a href=\"https://tools.google.com/dlpage/gaoptout\" target=\"_blank\" rel=\"noreferrer noopener\">Opt-out Browser Add-on.</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How to Manage Cookies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"privacy\">You can configure your browser to accept all cookies, reject all cookies, notify you when a cookie is set, or delete cookies that have already been set. <a href=\"https://www.allaboutcookies.org/\" target=\"_blank\" rel=\"noreferrer noopener\">Allaboutcookies.org</a> explains how to remove cookies from your browser, however, note that some of our website features may not function as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Privacy Policies of Other Websites</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"changes\">Our Site contains links to other websites. Our Privacy Policy only applies to our Site, so if you click on a link to another website, you should read their privacy policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Changes to Our Privacy Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This Policy may change from time to time. Such changes shall be effective immediately upon posting and will be posted on this page. By accessing our Site after we have posted changes to this Policy, you are agreeing to the terms of the Policy as modified.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This Privacy Policy was last updated on May 10, 2021.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"contact\">How to Contact InvesTech</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have any questions regarding this Policy or would like to exercise your rights, you may contact us using the information below:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research, LLC<br>625 Wisconsin Avenue<br>Whitefish, MT 59937<br>Phone: (406) 862-7777<br>E-mail: <a href=\"mailto:investech@investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">investech@investech.com</a><br>Web: <a href=\"https://www.investech.com\" target=\"_blank\" rel=\"noreferrer noopener\">www.investech.com</a></p>\n<!-- /wp:paragraph -->','Privacy & Cookie Policy','','inherit','closed','closed','','191-revision-v1','','','2021-06-28 19:54:45','2021-06-28 19:54:45','',191,'https://ns2020-investech.investech.com/?p=8766',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (8767,3,'2021-06-28 20:01:07','2021-06-28 20:01:07','<!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:heading -->\n<h2>Why subscribe to the InvesTech Research publications?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>InvesTech Research is governed by a “Safety-First” investment strategy which is committed to helping you protect and conserve your money against losses and to helping you spot tremendous buying opportunities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"className\":\"two-cols is-style-green-checkbox\"} -->\n<ul class=\"two-cols is-style-green-checkbox\"><li><strong>We have a proven track record.</strong> For 40 years, we have successfully navigated a volatile market with our “Safety-First” strategy, providing valuable insights to our subscribers.</li><li><strong>Over 120 years of data inform our publications.</strong> InvesTech has developed one of the largest private databanks in the industry including technical, monetary, and macroeconomic data. Through this wealth of market information, we\'re able to spot trends and detect patterns that most other advisories miss.</li><li><strong>Time-proven proprietary indicators and tools.</strong> We are unique in our ability to analyze both the monetary policy of the Federal Reserve as well as the technical health of the stock market, and what it means for your portfolio ahead.</li><li><strong>InvesTech provides 100% independent, objective analysis.</strong> We sell no investment products. We provide an informed objectivity that you will not get from brokers, mutual fund advisors, and even many investment newsletters.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall pad-3-0 primary-dark\"} -->\n<div class=\"wp-block-group wall-to-wall pad-3-0 primary-dark\"><div class=\"wp-block-group__inner-container\"><!-- wp:group {\"className\":\"make-slick pad-3-0\"} -->\n<div class=\"wp-block-group make-slick pad-3-0\"><div class=\"wp-block-group__inner-container\"><!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>You have made us a lot of money, but you have saved us even more.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>You have the discipline of a seasoned technician, but you also have the insight of a brilliant theoretician. That is a very rare combination. You have made us a lot of money, but you have saved us even more.</p><cite>– B.P., San Juan Capistrano, CA</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>Fundamental insights.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>I’d like to offer a special word of praise for all the work the entire InvesTech staff of professionals does to help bring meaningful technical and fundamental insights to the attention of your subscribers. There is no one who can compare with what you do or the way in which you do it.</p><cite>– P.E.P., Ph.D. Okemos, MI</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>Sanity!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>You guys add sanity to more than counterbalance what you see and hear in the so-called ‘business news.’ Thank you for helping me keep my family’s financial plan on course.</p><cite>– F.D., Baldwinsville, NY</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:group {\"className\":\"quote-block\"} -->\n<div class=\"wp-block-group quote-block\"><div class=\"wp-block-group__inner-container\"><!-- wp:heading {\"level\":3} -->\n<h3>\"Top of the Class\" independent thinking.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><p>I have followed Jim carefully over these many years, and I am absolutely convinced that he is the ‘top of the class’ of independent thinkers.</p><cite>– C.C., Inverness, IL</cite></blockquote>\n<!-- /wp:quote --></div></div>\n<!-- /wp:group --></div></div>\n<!-- /wp:group --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"33.33%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:33.33%\"><!-- wp:heading -->\n<h2>Trusted insight and analysis backed by our 40-year proven track record.</h2>\n<!-- /wp:heading --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"66.66%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:66.66%\"><!-- wp:paragraph -->\n<p>InvesTech has successfully navigated the past 40 years of market gyrations and major bear markets, including the 1987 Crash, the Tech Bubble of the late 1990s, and the 2007 Housing Bubble and Great Recession. InvesTech transforms the art of technical analysis into a more precise “science” – easily explained for both seasoned professionals and non-technical investors.</p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:block {\"ref\":5182} /-->\n\n<!-- wp:paragraph -->\n<p>Become a subscriber today for full access to our publications, proprietary indicators, market insights, and other tools.  Call our office at (406) 862-7777 (Monday-Friday, 8:30 am-5:00 pm Mountain Time) with any questions.  <strong>We are here to assist you!</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:buttons {\"contentJustification\":\"center\",\"className\":\"redBtn\"} -->\n<div class=\"wp-block-buttons is-content-justification-center redBtn\"><!-- wp:button -->\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https://ns2020-investech.investech.com/product/subscriptions/\">Become a Subscriber</a></div>\n<!-- /wp:button --></div>\n<!-- /wp:buttons -->\n\n<!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:block {\"ref\":6469} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall neutral-warm pad-3-0\"} -->\n<div class=\"wp-block-group wall-to-wall neutral-warm pad-3-0\"><div class=\"wp-block-group__inner-container\"><!-- wp:block {\"ref\":5238} /-->\n\n<!-- wp:columns {\"verticalAlignment\":\"center\"} -->\n<div class=\"wp-block-columns are-vertically-aligned-center\"><!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\"><!-- wp:image {\"align\":\"center\",\"id\":5104,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/award-cup.svg\" alt=\"A magnificent trophy\" class=\"wp-image-5104\"/></figure></div>\n<!-- /wp:image --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"verticalAlignment\":\"center\",\"width\":\"45%\"} -->\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:45%\"><!-- wp:image {\"id\":5105,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2021/01/kiplinger-logo.svg\" alt=\"Kiplinger Logo\" class=\"wp-image-5105\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Rated Best Source of Investment Advice by Kiplinger Personal Finance Magazine.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"className\":\"red-caps\"} -->\n<p class=\"red-caps\"><strong>Best Stock Market Letter</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"className\":\"em-red\"} -->\n<p class=\"em-red\">InvesTech Research, which promises ‘safety-first profits,’ has bested the overall stock market over the long haul with less risk. Publisher James Stack analyzes economic, monetary and market data (some going back more than 100 years) to make market calls and recommend allocations. <em>– Kiplinger Personal Finance</em></p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column {\"width\":\"15%\"} -->\n<div class=\"wp-block-column\" style=\"flex-basis:15%\"></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:heading -->\n<h2>InvesTech Research is frequently quoted in the following:</h2>\n<!-- /wp:heading -->\n\n<!-- wp:gallery {\"ids\":[2808,2809,2810,2897,2811,2899],\"linkTo\":\"none\",\"className\":\"multiply\"} -->\n<figure class=\"wp-block-gallery columns-3 is-cropped multiply\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Forbes.png\" alt=\"\" data-id=\"2808\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Forbes.png\" data-link=\"https://ns2020-investech.investech.com/forbes/\" class=\"wp-image-2808\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/11/Yahoo-Finance.png\" alt=\"\" data-id=\"2809\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/11/Yahoo-Finance.png\" data-link=\"https://ns2020-investech.investech.com/yahoo-finance/\" class=\"wp-image-2809\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/08/MoneyShow.png\" alt=\"\" data-id=\"2810\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/08/MoneyShow.png\" data-link=\"https://ns2020-investech.investech.com/moneyshow/\" class=\"wp-image-2810\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/Barrons.png\" alt=\"\" data-id=\"2897\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/Barrons.png\" data-link=\"https://ns2020-investech.investech.com/in-the-news/barrons/\" class=\"wp-image-2897\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/07/Marketwatch.png\" alt=\"\" data-id=\"2811\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2019/07/Marketwatch.png\" data-link=\"https://ns2020-investech.investech.com/marketwatch/\" class=\"wp-image-2811\"/></figure></li><li class=\"blocks-gallery-item\"><figure><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/New-York-Times.png\" alt=\"\" data-id=\"2899\" data-full-url=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/08/New-York-Times.png\" data-link=\"https://ns2020-investech.investech.com/in-the-news/new-york-times/\" class=\"wp-image-2899\"/></figure></li></ul></figure>\n<!-- /wp:gallery --></div></div>\n<!-- /wp:group -->\n\n<!-- wp:block {\"ref\":5343} /-->\n\n<!-- wp:heading -->\n<h2>Subscriber Library</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Curated articles from our publication archive available to subscribers at all levels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:acf/subscriber-content-teaser {\n    \"id\": \"block_604bb05a5584e\",\n    \"name\": \"acf\\/subscriber-content-teaser\",\n    \"data\": {\n        \"post_to_show\": [\n            \"2497\",\n            \"2418\",\n            \"2468\"\n        ],\n        \"_post_to_show\": \"field_5f2aeab7381f9\",\n        \"post_type_to_show\": \"investech-library\",\n        \"_post_type_to_show\": \"field_5f2aec3f2eccd\",\n        \"number_to_show\": \"3\",\n        \"_number_to_show\": \"field_5f2aec6a2ecce\"\n    },\n    \"align\": \"\",\n    \"mode\": \"edit\"\n} /-->\n\n<!-- wp:group {\"className\":\"wall-to-wall neutral-warm\"} -->\n<div class=\"wp-block-group wall-to-wall neutral-warm\"><div class=\"wp-block-group__inner-container\"><!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer -->\n\n<!-- wp:columns -->\n<div class=\"wp-block-columns\"><!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:heading -->\n<h2>About InvesTech Research</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Dedicated to bringing sophisticated analysis of the stock market to the average investor, InvesTech Research began national circulation of its Narket Newsletter in December 1982. Today, InvesTech publishes the InvesTech Research Market Newsletter, and the Interim Bulletin, which has earned widespread recognition for its time-proven risk allocation strategy, as well as its in-depth analysis of the Federal Reserve. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><a href=\"https://ns2020-investech.investech.com/about-us/\">Learn more about InvesTech Research here.</a></p>\n<!-- /wp:paragraph --></div>\n<!-- /wp:column -->\n\n<!-- wp:column -->\n<div class=\"wp-block-column\"><!-- wp:image {\"id\":2230,\"sizeSlug\":\"large\",\"linkDestination\":\"custom\"} -->\n<figure class=\"wp-block-image size-large\"><a href=\"https://ns2020-investech.investech.com/webcam/\"><img src=\"https://ns2020-investech.investech.com/wp-content/uploads/2020/07/Webcam-1-1024x576.jpg\" alt=\"\" class=\"wp-image-2230\"/></a><figcaption>Looking north from our office, we have an incredible view of Big Mountain, which stands just west of Glacier National Park and is part of the Flathead National Forest. View our <a href=\"https://ns2020-investech.investech.com/webcam/\">live webcam</a>, weather and daylight permitting. If the clouds have rolled in, then you can also browse some of our favorite photos taken on nicer days.</figcaption></figure>\n<!-- /wp:image --></div>\n<!-- /wp:column --></div>\n<!-- /wp:columns -->\n\n<!-- wp:spacer {\"height\":44} -->\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"></div>\n<!-- /wp:spacer --></div></div>\n<!-- /wp:group -->','Your Guide to “Safety First” Profits','','inherit','closed','closed','','4-revision-v1','','','2021-06-28 20:01:07','2021-06-28 20:01:07','',4,'https://ns2020-investech.investech.com/?p=8767',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (17381,3,'2023-04-25 13:57:42','2023-04-25 19:57:42','<!-- wp:paragraph -->\n<p><strong>Just 13 days after this issue was mailed, the stock market blasted off on an advance that would take it up more than 1000 DJIA points.</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textAlign\":\"center\",\"level\":3,\"UAGDay\":[]} -->\n<h3 class=\"wp-block-heading has-text-align-center\"> Read the InvesTech Research newsletter published January 4, 1991 </h3>\n<!-- /wp:heading -->\n\n<!-- wp:pdfemb/pdf-embedder-viewer {\"pdfID\":3319,\"url\":\"https://ns2020-investech.investech.com/wp-content/uploads/2020/09/V91I01.pdf\",\"toolbar\":\"both\",\"toolbarfixed\":\"on\"} -->\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"></p>\n<!-- /wp:pdfemb/pdf-embedder-viewer -->\n\n<!-- wp:post-navigation-link {\"showTitle\":true} /-->','Decade-long bull market of the 1990s','Just 13 days after this issue was mailed, the stock market blasted off on an advance which would take it up more than 1000 DJIA points.','inherit','closed','closed','','12210-revision-v1','','','2023-04-25 13:57:42','2023-04-25 19:57:42','',12210,'https://ns2020-investech.investech.com/?p=17381',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (17382,3,'2023-04-25 13:58:41','2023-04-25 19:58:41','<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>Just 13 days after this issue was mailed</strong>...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The stock market blasted off on an advance that would take it up more than 1000 DJIA points.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textAlign\":\"center\",\"level\":3,\"UAGDay\":[]} -->\n<h3 class=\"wp-block-heading has-text-align-center\"> Read the InvesTech Research newsletter published January 4, 1991 </h3>\n<!-- /wp:heading -->\n\n<!-- wp:pdfemb/pdf-embedder-viewer {\"pdfID\":3319,\"url\":\"https://ns2020-investech.investech.com/wp-content/uploads/2020/09/V91I01.pdf\",\"toolbar\":\"both\",\"toolbarfixed\":\"on\"} -->\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"></p>\n<!-- /wp:pdfemb/pdf-embedder-viewer -->\n\n<!-- wp:post-navigation-link {\"showTitle\":true} /-->','Decade-long bull market of the 1990s','Just 13 days after this issue was mailed, the stock market blasted off on an advance which would take it up more than 1000 DJIA points.','inherit','closed','closed','','12210-revision-v1','','','2023-04-25 13:58:41','2023-04-25 19:58:41','',12210,'https://ns2020-investech.investech.com/?p=17382',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (17383,3,'2023-04-25 14:05:01','2023-04-25 20:05:01','<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>Just 13 days after this issue was mailed</strong>...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The stock market blasted off on an advance that would take it up more than 1000 DJIA points.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textAlign\":\"center\",\"level\":3,\"UAGDay\":[]} -->\n<h3 class=\"wp-block-heading has-text-align-center\"> Read the InvesTech Research newsletter published January 4, 1991 </h3>\n<!-- /wp:heading -->\n\n<!-- wp:pdfemb/pdf-embedder-viewer {\"pdfID\":3319,\"url\":\"https://ns2020-investech.investech.com/wp-content/uploads/2020/09/V91I01.pdf\",\"toolbar\":\"both\",\"toolbarfixed\":\"on\"} -->\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"></p>\n<!-- /wp:pdfemb/pdf-embedder-viewer -->\n\n<!-- wp:post-navigation-link {\"textAlign\":\"right\",\"showTitle\":true,\"arrow\":\"arrow\"} /-->','Decade-long bull market of the 1990s','Just 13 days after this issue was mailed, the stock market blasted off on an advance which would take it up more than 1000 DJIA points.','inherit','closed','closed','','12210-revision-v1','','','2023-04-25 14:05:01','2023-04-25 20:05:01','',12210,'https://ns2020-investech.investech.com/?p=17383',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (17384,3,'2023-04-25 14:06:09','2023-04-25 20:06:09','<!-- wp:heading {\"textAlign\":\"center\"} -->\n<h2 class=\"wp-block-heading has-text-align-center\">At the peak of the 2000 Tech Bubble, InvesTech defied Wall Street and warned of one of the most important tops in Wall Street History...</h2>\n<!-- /wp:heading -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n<!-- /wp:separator -->\n\n<!-- wp:media-text {\"mediaId\":31331,\"mediaLink\":\"https://www.investech.com/?attachment_id=31331\",\"mediaType\":\"image\",\"mediaWidth\":36} -->\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile\" style=\"grid-template-columns:36% auto\"><figure class=\"wp-block-media-text__media\"><img src=\"https://www.investech.com/wp-content/uploads/2022/07/Dallas-Morning-News.png\" alt=\"\" class=\"wp-image-31331 size-full\"/></figure><div class=\"wp-block-media-text__content\"><!-- wp:heading {\"level\":3,\"fontSize\":\"medium\"} -->\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>From Afar, an Analyst Gets It Right</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><em>Aug. 19, 2001 </em>- Just over a year ago, James Stack stood before 5,000 people at an investment trade show in Las Vegas and warned of the coming stock market collapse.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Many investors have taken leave of their senses,\" he told the attendees at the May 16, 2000 conference, and \"the losses will change their lives.\"  The prediction, which proved accurate, was all the more remarkable because none of the 160 other market experts who spoke at the show agreed with Mr. Stack\'s bearish sentiment.  Mr. Stack has often been the lonely voice.  More significantly, he\'s often been right.  </p>\n<!-- /wp:paragraph --></div></div>\n<!-- /wp:media-text -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n<!-- /wp:separator -->\n\n<!-- wp:media-text {\"mediaPosition\":\"right\",\"mediaId\":31336,\"mediaLink\":\"https://www.investech.com/investech-record/nightly-business-report/\",\"mediaType\":\"image\",\"mediaWidth\":45,\"UAGDay\":[]} -->\n<div class=\"wp-block-media-text alignwide has-media-on-the-right is-stacked-on-mobile\" style=\"grid-template-columns:auto 45%\"><div class=\"wp-block-media-text__content\"><!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><em>Jan. 1, 2002 </em>- Paul Kangas:  </h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"placeholder\":\"Content…\"} -->\n<p>Jim Stack of InvesTech Research was the only panelist to correctly predict both a recession and bear market in 2001.</p>\n<!-- /wp:paragraph --></div><figure class=\"wp-block-media-text__media\"><img src=\"https://www.investech.com/wp-content/uploads/2022/07/Nightly-Business-Report.png\" alt=\"\" class=\"wp-image-31336 size-full\"/></figure></div>\n<!-- /wp:media-text -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n<!-- /wp:separator -->\n\n<!-- wp:heading {\"textAlign\":\"center\",\"UAGDay\":[]} -->\n<h2 class=\"wp-block-heading has-text-align-center\">“Crash or not, the upcoming bear market will likely be viewed as one of the most devastating in history.”</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Just 3 months before the Internet Bubble popped [in March 2000], we warned subscribers “Crash or not, the upcoming bear market will likely be viewed as one of the most devastating in history.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:pdfemb/pdf-embedder-viewer {\"pdfID\":7200,\"url\":\"https://ns2020-investech.investech.com/wp-content/uploads/2021/04/V99I17.pdf\",\"toolbar\":\"both\",\"toolbarfixed\":\"on\"} -->\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"></p>\n<!-- /wp:pdfemb/pdf-embedder-viewer -->\n\n<!-- wp:post-navigation-link {\"textAlign\":\"right\",\"showTitle\":true,\"arrow\":\"arrow\"} /-->\n\n<!-- wp:post-navigation-link {\"type\":\"previous\",\"showTitle\":true,\"arrow\":\"arrow\"} /-->','2000 Tech Bubble','Just 3 months before the Internet Bubble popped [in March 2000], we warned subscribers “Crash or not, the upcoming bear market will likely be viewed as one of the most devastating in history.”','inherit','closed','closed','','12201-revision-v1','','','2023-04-25 14:06:09','2023-04-25 20:06:09','',12201,'https://ns2020-investech.investech.com/?p=17384',0,'revision','',0);
