Disclaimers

01Independent student organization

The PSU Trading Society is an independent student organization founded by undergraduates at The Pennsylvania State University. This is not an official website of The Pennsylvania State University, the Smeal College of Business, or any other college, department, office, or program of the University.

The Society and this website are not affiliated with, sponsored by, endorsed by, or acting on behalf of The Pennsylvania State University. Nothing on this website should be read as a statement, position, or policy of the University. The University is not responsible for the content of this website or for the activities of the Society.

02University names and trademarks

“Penn State,” “The Pennsylvania State University,” “Nittany Lions,” and related names, marks, logos, and symbols are the property of The Pennsylvania State University. References to the University, its colleges, its buildings, and its campus are made only to describe where the Society was based and where its activities took place.

The PSTS name and shield emblem are the Society’s own marks. They were designed independently and do not incorporate any University trademark, seal, or symbol. Use of any University name on this website does not imply endorsement.

03No connection to employers or other organizations

The founder, officers, and members of the Society may be, or may have been, employed by or associated with financial institutions, investment firms, nonprofit organizations, or other entities. This website is a personal and Society project. It is not sponsored, reviewed, or approved by any such employer or organization, and nothing on it represents the views, products, services, or recommendations of any of them.

References on this website to the professional history of the founder or any member are biographical only and do not indicate any relationship between those organizations and the Society.

04Other trademarks

Company names, ticker symbols, product names, book titles, film titles, and other marks referenced on this website belong to their respective owners. They are used for identification, education, and commentary only and do not imply any affiliation with or endorsement by their owners.

05Educational purpose only

All content on this website is provided for general educational and informational purposes. It was created by undergraduate students as part of a student learning program. It is intended to explain concepts in accounting, valuation, financial markets, and investment analysis, and to preserve the record of the Society’s educational work.

Content is general in nature and does not take into account the investment objectives, financial situation, tax position, risk tolerance, or particular needs of any person.

06Not investment, financial, legal, accounting, or tax advice

Nothing on this website constitutes investment advice, financial advice, trading advice, legal advice, accounting advice, tax advice, or any other professional advice. Nothing on this website is a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person.

You should not make any investment, financial, legal, tax, or other decision based on content from this website. Before making any such decision, consult a qualified, licensed professional who knows your individual circumstances.

07No offer or solicitation

Nothing on this website is an offer to sell, a solicitation of an offer to buy, or a recommendation of any security, commodity, derivative, cryptocurrency, or other financial instrument or investment product, in any jurisdiction.

08No advisory or fiduciary relationship

Neither the Society nor any of its founders, officers, or members is acting as your investment adviser, broker, dealer, financial planner, or fiduciary. Using this website, contacting the Society, or becoming a member does not create any advisory, fiduciary, client, or professional relationship of any kind.

The Society is not a registered investment adviser, broker-dealer, commodity trading adviser, or other regulated financial services firm, and it does not manage money for, or accept money from, anyone in connection with this website.

09Investment risk

All investing involves risk, including the possible loss of the entire amount invested. Past performance is not indicative of future results. The value of investments and the income from them can go down as well as up.

Certain strategies and instruments discussed for educational purposes carry heightened risk, including:

• Short selling, which can result in losses greater than the amount invested.
• Options and other derivatives, which can expire worthless and may involve leverage.
• Margin and leverage, which magnify losses as well as gains.
• Concentrated positions, small-capitalization and illiquid securities, and foreign or emerging-market securities.
• Frequent trading, which can increase costs and tax liabilities.

10Hypothetical, simulated, and illustrative results

Some materials may include models, valuations, price targets, back-tests, paper-trading results, or other hypothetical or simulated figures prepared for teaching. Hypothetical results have inherent limitations: they are prepared with the benefit of hindsight, do not reflect actual trading, and do not account for real-world factors such as costs, liquidity, and the psychological pressure of real decisions. No representation is made that any account will or is likely to achieve results similar to those shown.

11Forward-looking statements

Materials may contain projections, estimates, targets, or other forward-looking statements. These reflect the student authors’ assumptions at the time and are subject to significant uncertainty. Actual outcomes may differ materially. The Society has no obligation to update any forward-looking statement.

12Technical analysis and behavioral finance

Technical indicators, chart patterns, and behavioral frameworks are presented as analytical concepts to study, not as reliable predictors of future prices. Their effectiveness is debated, varies across markets and time periods, and may be nil.

13Historical materials

Materials on this website reflect undergraduate educational content from 2016 to 2019. They are presented substantially as they were prepared at the time, for historical and educational reference. They have not been updated to reflect later events, data, regulations, accounting standards, or market conditions, and they may be out of date.

Original dates are shown where known. Where a date is approximate, it is marked as such.

14Accuracy and completeness

Content was prepared by students who were learning the subjects they presented. It may contain errors, omissions, simplifications, or outdated information. Prices, financial data, and company information were drawn from sources believed to be reliable at the time, but they have not been independently verified and may be illustrative, approximate, or incorrect.

The Society makes no representation or warranty as to the accuracy, completeness, timeliness, or reliability of any content.

15Personal views

Opinions, analysis, and commentary in Society materials are those of the individual student authors at the time they were written. They do not necessarily reflect the views of the Society as a whole, The Pennsylvania State University, or any current or former employer of the founder, officers, or members, and they may have changed since.

16Positions and potential conflicts

Authors of Society materials may have held, or may now hold, positions in securities discussed, and may trade them at any time without notice. Discussion of a security is not an indication of any person’s holdings or intentions.

17Ownership of content

Unless otherwise noted, all content on this website and in the Society’s archive, including the PSU Trading Society and PSTS names and emblem, presentations, research, curriculum, written materials, photographs, and website design, is the exclusive property of the PSU Trading Society and its founder, Christopher R. Peckyno, in accordance with the Society’s bylaws.

Content is protected by copyright, trademark, and other applicable laws. All rights not expressly granted in these disclaimers are reserved.

18Permitted use

You may view this website and print or save individual pages for your own personal, non-commercial, educational reference, provided you keep all ownership and disclaimer notices intact. You may link to any page of this website.

19Prohibited use

Without prior written permission from the Society or its Founder, you may not:

• Copy, reproduce, republish, distribute, sell, license, or create derivative works from any content, in whole or in part.
• Use the PSTS name, emblem, or any Society content in a way that suggests affiliation with or endorsement by the Society.
• Use any content for commercial purposes, including in paid courses, publications, or services.
• Download, scrape, crawl for bulk extraction, or otherwise collect member-only materials or attempt to circumvent the member log in.
• Use content to train, fine-tune, or build datasets for commercial machine-learning systems, except for ordinary search indexing.
• Remove, alter, or obscure any ownership, copyright, or disclaimer notice.

20Member-only materials

Original presentations and documents are available only to Society members through the member log in. Member access is personal and may not be shared. Materials obtained through member access are subject to the same ownership and use restrictions described above, and may not be redistributed outside the Society.

21Permission requests

To request permission to use any content, email contact@psutradingsociety.com with a description of the content and the proposed use.

22Member log in

Member accounts are issued by the Society. Members are responsible for keeping their credentials confidential and for all activity under their account. The Society may suspend or revoke access at any time. Please notify the Society promptly of any unauthorized use of an account.

23Privacy

This website does not require visitors to create an account, does not sell personal information, and does not use advertising trackers. If you email the Society, your message and contact details are used only to respond to you and are not shared for marketing purposes.

Like most websites, the servers that host this website may automatically record standard technical information, such as IP address, browser type, and pages visited, for security and performance purposes.

24Cookies

This website does not use cookies for advertising or cross-site tracking. Strictly necessary cookies may be used in the future to keep members signed in.

25Photographs and likeness

Photographs on this website were taken at Society events and are shared with the permission of those pictured. Anyone pictured who would like a photograph removed, or a caption changed, may email the Society with the page and photograph concerned. Such requests will be honored promptly.

Names of members other than the founder are not published on the public website.

26Children

This website is intended for adults and university students. It is not directed to children under 13, and the Society does not knowingly collect personal information from them.

27Members-only fantasy sports

The Society owns and operates its own members-only fantasy sports competitions, including the PSTS Fantasy Football League and the PSTS March Madness Group. These are social activities for Society members, are not open to the public, involve no entry fees or prizes offered through this website, and have no connection to the Society’s educational content or to any investment activity.

28The GSF League

Christopher R. Peckyno, the Society’s Founder and President, is also the President and Founder of the GSF League, a separate fantasy sports league and community-led environment. He currently ranks first in that league in championships won, games won, points scored, and most other categories that matter. The GSF League is independent of the Society and of this website.

While the PSTS owns and operates its own members-only fantasy sports leagues, the Society acknowledges that Christopher Peckyno is a visionary leader and an unparalleled community builder, and that the GSF League is the greatest sports league, fantasy league, and friend group community on the planet.

29Third-party websites

This website may link to websites operated by others, such as LinkedIn. Links are provided for convenience and do not imply endorsement. The Society does not control and is not responsible for the content, privacy practices, availability, or security of any third-party website.

30Book and film recommendations

Book and film recommendations are offered for educational interest only. Descriptions are the Society’s own summaries. The Society has no affiliation with, and receives no compensation from, any author, publisher, studio, distributor, or retailer, and does not use affiliate links. Inclusion on a list is not an endorsement of every view expressed in a work.

31No warranty

This website and all content are provided “as is” and “as available,” without warranties of any kind, express or implied, including any implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, accuracy, or availability. The Society does not warrant that the website will be uninterrupted, secure, or free of errors, viruses, or other harmful components.

32Limitation of liability

To the fullest extent permitted by law, the Society and its founder, officers, members, and contributors will not be liable for any direct, indirect, incidental, consequential, special, exemplary, or punitive damages, or for any loss of profits, trading losses, loss of data, or other losses, arising out of or relating to your access to or use of, or inability to use, this website or any content, or your reliance on any content, even if advised of the possibility of such damages.

Some jurisdictions do not allow certain exclusions or limitations, so some of the above may not apply to you; in that case liability is limited to the maximum extent permitted.

33Indemnification

You agree to indemnify and hold harmless the Society and its founder, officers, members, and contributors from any claims, losses, liabilities, damages, costs, and expenses, including reasonable attorneys’ fees, arising out of your use of this website, your use of any content, or your violation of these disclaimers.

34Governing law

These disclaimers are governed by the laws of the Commonwealth of Pennsylvania, without regard to its conflict-of-law principles. Any dispute arising out of or relating to this website will be brought exclusively in the state or federal courts located in Pennsylvania, and you consent to the personal jurisdiction of those courts.

35Severability and waiver

If any provision of these disclaimers is found to be unenforceable, it will be enforced to the maximum extent permissible and the remaining provisions will remain in full effect. Failure to enforce any provision is not a waiver of that provision.

36Changes to these disclaimers

The Society may revise these disclaimers at any time by updating this page. Continued use of the website after a revision means you accept the revised disclaimers.

37Contact

Questions about these disclaimers, permission requests, and photograph removal requests can be sent to contact@psutradingsociety.com.