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Full disclaimer
Premise is a research project. It reports the decisions and results of a paper-traded account to a small group of invited readers.
Not investment advice
Nothing in Premise reports, dossiers, emails or this website is investment, financial, legal, tax or other professional advice. Nor is it a recommendation, solicitation or offer to buy or sell any security. The material is general and impersonal. It does not take account of your objectives, finances or circumstances. Emissary International LLC is not a registered investment adviser or broker-dealer. Please speak to a qualified, licensed professional before making any investment decision.
Paper trading and hypothetical results
The Premise accounts are paper-traded: no real money is invested. Reported results come from simulated orders and do not include every real-world cost or limitation, such as liquidity, slippage, taxes or the effect of trading on prices. Simulated results have inherent limits and may differ, sometimes greatly, from results with real money.
Past performance
Past performance, whether simulated or actual, does not guarantee future results. Stocks can lose value, including all of it.
Marco AI (testing)
Marco AI is an experimental artificial-intelligence analyst. Its opinions are produced automatically. They may be incomplete, out of date or wrong, and they are shown for research purposes only. A Marco AI opinion is never an instruction.
Data and sources
Prices, financial statements, news and other data come from third-party sources and public filings that we believe to be reliable. We do not guarantee that they are accurate, complete or timely. Figures may be revised.
No liability
The material is provided "as is", without warranties of any kind. To the fullest extent permitted by law, Emissary International LLC and its members accept no liability for any loss or damage arising from the use of, or reliance on, any Premise material.
Holdings
The people behind Premise may hold, buy or sell securities mentioned in the material, at any time and for their own reasons.
Use of this material
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Governing law: Texas, United States. Last updated 22-Oct, 2026.