Position Policy

The author may hold and trade positions in securities discussed in the Brief. To keep the relationship with readers honest, the following practices govern how positions held by the author intersect with the editorial content of the Brief.

1. Disclosure

The author may hold positions, long or short, in securities discussed in the Brief. A standing disclosure to that effect appears in every issue. The Brief does not itemize specific positions on an issue-by-issue basis.

2. The 48-hour rule

The author does not trade any security discussed in the Brief within 48 hours before or after publication of an issue in which that security appears.

This window is intended to ensure that subscribers have access to the same information as the author during the period in which the analysis could plausibly influence trading decisions.

3. Scope of coverage

The Brief restricts its discussion to liquid, mid- and large-cap securities. The author does not write about thinly traded, micro-cap, or low-volume securities in which subscriber activity could materially affect price.

4. No personalized advice

The First Tick is a publication of general circulation. The author does not provide personalized investment advice in any channel — including email replies, social media, or any other forum. Subscriber questions are welcome; responses are limited to general commentary and education.

5. No paid promotion

The First Tick does not accept payment, equity, or any other consideration in exchange for coverage of any security. Editorial decisions about what to cover are made independently of any commercial relationship.

If the Brief ever incorporates sponsored content (clearly marked advertising), that distinction will be unambiguous and visually separated from editorial content.

6. Changes to this policy

This policy may be updated as the publication grows. Material changes will be communicated to subscribers via the Brief. The current version of this policy is always available at thefirsttick.com/position-policy.

Last updated: June 11, 2026