Last modified: February 2011

Steven Dotsch trading under EMAR Publishers is the sole owner of the website called: and the MiniGuides published by EMAR Publishers (together hereinafter “Sites”).

By accessing and using these Sites, you signify your agreement with these terms and conditions (together hereinafter: “Disclaimer Terms”). By agreeing to the Disclaimer Terms, you are taking responsibility for your own actions. If you do not agree to the Disclaimer Terms your use of and access to the Sites is unauthorised.

EMAR Publishers may update or modify these Disclaimer Terms or its Sites, at any time and from time to time, at its sole discretion. Any such modifications shall be effective immediately upon posting at this website of the modified Disclaimer Terms. You agree to review these Disclaimer Terms periodically, and your continued use of these Sites shall be deemed your acceptance of the modified Disclaimer Terms. You acknowledge that by using or accessing the Sites no confidential, fiduciary, contractually implied or other relationship is created between you and the Sites.

Ownership; Restrictions on use

The Sites are owned and operated by EMAR Publishers (hereinafter: "EMAR", "We", or "Us"). All content included on these Sites, including without limitation, text, graphics, images, animations, computer programs, data, designs, logos and button icons and the arrangement, collection and assembly of the same, is the property of EMAR Publishers and its content suppliers, are protected by United Kingdom and international copyright and trademark laws., Early Retirement Investor and MiniGuides are trademarks of EMAR Publishers. No license is granted with respect to any of these trademarks in any manner or for any purpose.

Site information and content disclaimer

EMAR Publishers is a financial electronic publisher. EMAR Publishers is not a financial advisor, and as such is not operating under the supervision of any of the Regulators defined in the Financial Services Act or any other act.

The Sites provide a centralised Web facility that makes available information regarding saving, pensions, investing in shares and related matters. Segments of the Sites are authored by EMAR Publishers to assist Sites visitors. Neither the content of those segments nor the availability of the Sites constitute investment advice, financial services or an offer to sell or a solicitation of an offer to buy any securities, and the use of the Sites does not make and should not be understood to make EMAR Publishers your agent or adviser for any purpose.

Your use of the Sites indicates your complete understanding that you are able to make your own decisions about your financial matters, and that you will not hold the Sites liable for any damages about your savings, finances, or investments whether relating to data, opinion, or other information provided anywhere on the Sites in the past, present or future.

You understand and agree that the Sites do not offer or provide tax, legal, financial or investment advice. All material found on the Sites is for educational and informational purposes only.

You understand and agree that any investment decisions you make will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, financial condition and liquidity needs.

EMAR Publishers does not guarantee the accuracy, veracity, or completeness of any information provided on our Sites, and we will not be responsible for any errors or omissions in articles or postings, for links embedded in the Sites or in messages, or for any results obtained from the use of such information.

In the material we make available on our website, we rely on a wide variety of sources and other websites. We believe these sources of data to be accurate and reliable, but sometimes they may not be. EMAR Publishers makes no claims or representations as to the accuracy, completeness, or truth of any material contained in our areas. Nor is Emar Publishing liable for any errors or delays in the content or transmission of the data on our site.

You understand that we make no effort to determine the validity of any information posted by users of the Sites in our community areas, including user reviews, book reviews, polling stations and message boards (together hereinafter message boards). Some of the information presented by users may prove to be, either intentionally or unintentionally, misleading or wrong.

Information obtained from our Sites, including our message boards is no substitute for independent research, nor is it a good idea to make any tax, legal, financial or investment decisions based solely or largely on information obtained in our community areas from our Sites. An inclusion of a message in our message boards does not imply any type of recommendation by EMAR Publishers, nor does the lack thereof imply the reverse.

EMAR Publishers will not be liable for any loss or damage caused by a visitor’s reliance on information obtained from our Sites, or from anywhere linked to from our Sites. We strongly caution you not to rely on the information you find here to inform your decisions – rather, use it as a starting point for doing your own independent research. Then you must decide for yourself the accuracy and merits of the information that has been shared. Proceed with caution.


Links to other websites

The Sites may contain information and hyper-links concerning UK listed companies, financial institutions and providers of financial information unrelated to EMAR Publishers (hereinafter together "Third Parties") for review and retrival by self-directed Sites visitors. In addition, in particular in the Investment Resources segment in the Sites includes a list of, and links to, external websites that contain databases and information that may be useful as library tools to persons seeking to conduct their own investment related research.

EMAR Publishers does not and cannot control the content made available at any such external sites. EMAR Publishers does not sponsor, merit, recommend, endorse, guarantee or warrant the accuracy, suitability, completeness, content, quality or freedom from defects of information and materials prepared by the authors of information provided on such external sites, the timeliness of such information or its fitness for any particular purpose, or any security, financial product or instrument.

EMAR Publishers disclaim any responsibility for any information, opinions or investment recommendations at any such Third Party site you have chosen to visit from our Sites. EMAR Publishers is not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services available on such Third Party websites or resources.

Use of Visitor Information

As you navigate through the Sites, EMAR Publishers may collect and track personal information, either by asking you to tell something about yourself or by using data-tracking software which automatically collects and/or tracks information which can include, without limitation, your home server domain name, email address and type of web browser that you use, as well as information concerning what pages you access (individually or collectively, "Information"). You may also upload files, input data, post messages or engage in other forms of communication to, with or through the Sites.

Any orders placed with us for goods and services are fulfilled in a variety of different ways. Some products are handled entirely by EMAR Publishers and some, such as books, annual reports, stockbrokerage services, investment software and investment research, are handled entirely by third parties. If you order a product or service of ours direct from a third party, please be aware that these sites have their own privacy and data collection practices. EMAR Publishers does not collect, see or have access to any personal information you may provide to such third parties.

Information collected by and communications with EMAR Publishers may be used by EMAR Publishers for editorial, feedback and statistical purposes as well as for product development and Sites content improvement. You agree that we may disclose certain aggregate information, but that we will not disclose your name, address, email address or any other personally identifying information without your prior authorisation, except as required by law.


The copyright in the information, content, material or data displayed on this Website belongs to us or our licensors. None of the material may be reproduced without our written permission, with the exception of downloading or printing a single copy for yourself for offline viewing. Republication and redissemination, including posting to message boards, is expressly prohibited without the prior written consent of EMAR Publishers. This copyright extends from original material in the Sites, to the raw compilations of posts on our message boards, to the edited and filtered compilations of posts that we may sell and distribute.

You acknowledge that (1) EMAR Publishers permits access to content that is protected by copyrights, trademarks, service marks, patents and other intellectual and proprietary rights, including without limitation, rights of privacy and publicity, moral rights, manufacturer-installed copy-protection devices, such as digital watermarks and registration numbers for software programs, and rights for attribution (collectively, "Rights"); (2) these Rights are valid and protected in all media and technologies existing or later developed; and (3) except as explicitly provided otherwise, the Sites Terms and applicable copyright, trademark and other laws govern your use of the content of the Sites.

You may not post to EMAR Publishers, copy, reproduce, retransmit, distribute, publish, commercially exploit or otherwise transfer any material subject to any Rights. The burden of determining that any information, software, images or any other content on the Sites is not protected by Rights rests with you.

You shall retain ownership of any views, opinions, reviews, ratings, comments, content or material you submit, display, distribute, upload, post, share, publish or otherwise make publicly available on or through this Website ("User Content").

You grant us a perpetual, irrevocable, transferable, worldwide, royalty free and unlimited licence to use, modify, keep, share, sell, save, copy, distribute, publish, display, excerpt, reproduce, utilise, extract, make available and transmit such User Content in any manner and for any purpose.

You shall not post or transmit any content that you do not have a right to transmit, such as copyright material, or anything that is defamatory in nature.

If you believe that your work has been copied in such a manner as to represent a copyright infringement or violation of your intellectual property rights, or that you have been defamed in a post on our message boards, please contact us.

We reserve the right, but have no obligation, to review or monitor any User Content. We are not responsible or liable for the review or monitoring of any User Content. We reserve the right to close, delete, edit, refuse to post, amend, modify or remove (without notice) any User Content at our sole discretion for any reason, including without limitation User Content that in our sole opinion breaches these terms.

Disclosure notes in articles

In articles written for our Site, both our editorial staff and freelance writers are required to disclose if they have a beneficial interest in any company mentioned. Many of them are active private investors and hence will often write about shares which they own. If they are required, you can find disclosure notes at the end of each article. No editorial staff member or freelance writer may offer an opinion about a share in an article.

Third party services

You may order services or products through the Sites from third parties ("Seller(s)"). All matters concerning these orders, including but not limited to purchase terms, payment terms, warranties, guarantees, maintenance and delivery, are solely between you and Seller.

EMAR Publishers makes no warranties or representations whatsoever with regard to any goods or services provided by Sellers. You will not consider the Sites, nor will the Sites be construed as, a party to such transactions, whether or not EMAR Publishers may have received some form of revenue or other remuneration in connection with the transaction or be liable for any costs or damages arising out of, either directly or indirectly, you or any other person involved or related to the transaction.

The Sites may include special navigational icons which, when activated, will allow you to access and learn more about the Sellers websites and other products and services provided by the Sellers. Your use of such icons is free of any charge to you. If you follow these links from our Sites to theirs, you should be aware that these other sites have their own privacy and data processing practices.

Emar Publishers has no responsibility or liability for these independent policies. For more information regarding a Seller site and its privacy policies, check that site. When you access any of the Sellers’ services or products, your rights and obligations will be governed by the agreements and policies relating to the use of these services and products.

Our Sites and email products include third-party advertisements. The appearance of an advert does not mean that we endorse the advertiser's goods or services. While we will not knowingly run an advert that is untrue, EMAR Publishers is not responsible for the accuracy of any advertising material or the usefulness of an advertised product or service.

In the various comparison centres, we may feature a number of product providers. We do not recommend one over another and these areas are not intended to be an exhaustive list of all providers of a particular product. It is up to you to decide whether what they offer is right for you. You can find more detailed information about our relationship with third party providers in the disclosure sections of our comparison centres.

The Sites and/or third parties may, from time to time, send email messages containing advertisements or promotions. The Sites make no representation or warranty with respect to the content of any such email messages or any goods or services which may be obtained from such third parties. EMAR Publishers will not be liable for any damages or costs of any type arising out of or in any way connected with your use of a third company's service or product advertised in any area of our Sites or in one of our emails. You agree that neither the Sites nor such third party shall have any liability with respect thereto. You will always have the ability to opt-out of these communications.

Privacy and Cookie Statement

EMAR Publishers takes the issue of privacy very seriously and we are committed to protecting and respecting our users' privacy. This Privacy and Cookie Statement sets out our current data processing practices.

If your browser is set up to accept them, we also use a feature known as a “cookie”. Cookies contain bits of information that websites transfer to your computer's hard drive for record keeping purposes. Cookies can make the Web more useful by storing information about your preferences on a particular site such as ours.

EMAR Publishers may place a pixel on pages on our site, or those of our advertisers and partners. This enables us to record in our server logs that a specific user id has visited a particular page. This data allows us to analyse and determine our audience's behavioural characteristics, which helps us to optimise our site, advertisement placement, and marketing focus. Only anonymous, non-Personally Identifiable Information is collected, and it cannot, by itself or in combination, be tracked to a specific individual.

Information Sharing and Disclosure

EMAR Publishers does not give, rent, lend or sell individual information to any third party. Furthermore, we will not disclose any information about individual users, except as described below:

- Message boards: On our boards (and anywhere else on our site), you are publicly identified by your user or screen name. If you choose your full name as your username, you have voluntarily disclosed that information. Similarly, this is true for any personal identifiable information (such as an email address) you include in any message board posts. Also, if you choose to email one of our articles to someone or email a reply to a message board post (as opposed to posting the reply on the boards), your email address will be revealed to whoever opens and reads the email. Other users may also use this function and email you a response to a message you've posted on our message boards. While you will be able to see the sender's email address, the sender will not be able to see yours. However, should you respond to the message, you will have disclosed your email address to the message's recipient(s).

- Current or Prospective Advertisers/Partners: We only provide aggregate, non-identifiable information to our current and prospective advertisers and business partners. For example, we might tell advertisers that there are 100,000 uniques users of the Sites, but we won't disclose the identity of any user of the Sites nor their email address.

- Third Party Service Providers: We may employ the services of third party providers to aid us in certain aspects of our operations (such as the distribution of our email products or conducting a survey for us). Depending on the services performed, some of these providers may be provided with user information. These contractors would be subject to confidentiality agreements which limit their use and disclosure of all information they obtain through their relationship with our business only, consistent with this policy.

- Legal Requests: EMAR Publishers may disclose your personally identifiable information to protect the rights and property of the Sites as well as to comply with any applicable law or valid legal process. This includes, but is not limited to:

  • Requests by Government Agencies. We will disclose any information we have in our possession to law enforcement or government officials in response to any inquiry or investigation or if in our sole discretion, we believe it is necessary or appropriate in connection with any investigation or activity that is or may be illegal or may expose us or you to legal liability.
  • Disclosures we are legally required or entitled to make under any enactment, rule of law or by the order of a court.


EMAR Publishers is committed to protecting your personal information. All information that you provide to us is stored on our secure servers. While we do our best to protect your personal information, EMAR Publishers cannot ensure or warrant the security of any information you transmit to us, and you do so at your own risk.

Disclaimer of warranties

You understand and agree that the Sites services are provided "is" and "as available". EMAR Publishers assumes no responsibility for the timeliness, deletion, mis-delivery or failure to store any user communications or personalisation settings.

You understand and expressly agree that the use of the Sites' services are at your sole risk, that any material and/or data downloaded or otherwise obtained through the use of the Sites' services is at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of such material and/or data.

EMAR Publishers disclaims all representations and warranties of any kind, express or implied, as to the operation of the Sites or the content, information and materials contained within or accessible through the Sites. To the fullest extent permitted by applicable law, EMAR Publishers disclaims all warranties, express or implied, including without limitation any warranty of merchantability, fitness for a particular purpose or non-infringement and it makes no warranty or representation regarding the results that may be obtained from the use of the Sites' services, regarding the accuracy, completeness, usefulness, currency or reliability of any information obtained through the Sites' services, regarding any goods or services purchased or obtained through the Sites' services, regarding any transactions entered into through the Sites' services or that the Sites' services will meet any user's requirements, be uninterrupted, timely, secure or error free.

Limitation of liability

EMAR Publishers will not be liable for any damages of any kind, including without limitation direct, indirect, incidental, special, consequential, compensatory, exemplary, reliance or punitive damages, regardless of the form of action or the basis of the claim, resulting from the use of or access to the Sites' services, the use of or the inability to use the Sites' services, resulting from any goods or services purchased or obtained or messages received or transactions entered into through the Sites' services, resulting from loss of, unauthorised access to or alteration of a user's transmission or data or for the cost of procurement of substitute goods and services, including but not limited to damages for loss of profits, use, business, profits, data or other intangibles, even if EMAR Publishers had been advised of the possibility of such damages.


You agree to indemnify, defend and hold harmless EMAR Publishers, its officers, directors, employees and agents from any and all third party claims, liability, damages and/or costs (including, but not limited to, solicitors and barristers fees) arising from your use of our services, your violation of these Terms and Conditions, or your infringement, or infringement by any other user, of any intellectual property or other right of any person or entity. These Terms and Conditions will inure to the benefit of EMAR Publishers’ successors, assigns and licensees.


The Sites are only intended for use by residents of the United Kingdom. We make no warranty or representation that any product or service referred to on the Sites and/or any service of product we provide is available or otherwise appropriate for use outside of the United Kingdom. If you choose to use the Sites from locations outside the United Kingdom, you do so at your sole risk and you are responsible for compliance with all applicable local laws.

If any provision of these terms is held to be unlawful, invalid or unenforceable, that provision shall be deemed deleted from these terms and the validity and enforceability of the remaining provisions of these terms shall not be affected.

These terms constitute the entire agreement between you and us relating to your access to and use of the Sites and supersedes any prior agreements (including any previous terms of use of the Sites).

Applicable law

The Terms and Conditions shall be governed by and construed in accordance with the Laws of England and Wales. These Terms and Conditions constitute the entire agreement with respect to your access to and use of the Sites. If any provision of these Terms and Conditions is unlawful, void or unenforceable, then that provision shall be deemed severable from the remaining provisions and shall not affect their validity and enforceability.

Last updated: February 2011

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