Disclosure & Disclaimer

The Independent Vanguard Adviser (the “Newsletter”), a digital-only newsletter edited by Jeff DeMaso and published by Tiny Jumbos, LLC., is offered to the general public on a subscription basis.

The Newsletter’s commentary, analysis, opinions, advice and recommendations represent the Editor’s personal and subjective views at the time of publication and are subject to change at any time without notice. The Newsletter is not based upon the Editor’s personal holdings of open-ended mutual funds and exchange-traded funds, which may not reflect the recommendations contained in the Newsletter. The Newsletter is impersonal and does not provide individualized advice or recommendations for any specific subscriber or portfolio.

Investing involves substantial risk. Neither the Editor nor the publisher makes any guarantee or other promise as to any results that may be obtained from using anything contained or recommended in the Newsletter. While past performance may be analyzed in the Newsletter, past performance should not be considered indicative of future performance.

While the information provided is obtained from sources believed to be reliable, its accuracy or completeness cannot be guaranteed; nor can the publication be considered liable for the future investment performance of any securities or strategies discussed. The information provided is of general interest and is not intended as individualized investment advice for any subscriber or specific portfolio.

No subscriber should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing the prospectus and other public filings of the issuer. To the maximum extent permitted by law, the Editor and the publisher disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations in the Newsletter proves to be inaccurate, incomplete or unreliable, or results in any investment or other losses.

Subscribers may submit questions to the Editor by e-mail to support@independentvanguardadviser.com. As the Newsletter does not provide individualized advice for subscribers, the Editor can answer only questions of a general nature about the markets or specific securities.

The Newsletter is not a solicitation or offer to buy or sell any securities. The Newsletter is not and is not intended to be a solicitation for private money or investment management services.

Vanguard and The Vanguard Group are service marks of The Vanguard Group, Inc. The Editor and Tiny Jumbos, LLC. are completely independent of and not affiliated in any way with The Vanguard Group, Inc. and receive no compensation for the publication of the Newsletter from The Vanguard Group, Inc. or any other person or entity other than individual subscribers.