Research, AI, and risk

FinBro provides general research information: facts, model estimates and model opinions about the value of businesses and real assets. Every output is produced with the same methodology for every user and without using any user's personal circumstances.

FinBro does not provide investment advice, personal recommendations or suitability assessments. FinBro does not produce ratings, entry or exit levels, timing, position sizing or allocation outputs.

Fact: sourced reported data, such as financial statements or an observed market price, shown with its as-of date or observation time.

Model estimate: a value computed by FinBro's valuation code from sourced inputs, such as an intrinsic value, a modeled range, a valuation state, a margin of safety (model) or a Forward Projected Value, shown with its methodology and assumptions.

Model opinion: narrative written by AI models, such as thesis, risk or scenario commentary. It is labeled as a model opinion and carries the model-opinion disclosure.

A valuation state compares the observed market price with the modeled intrinsic-value range. Range boundaries are inclusive.

"Market price below the modeled intrinsic-value range": the observed market price is lower than the low end of the modeled range.

"Market price within the modeled intrinsic-value range": the observed market price is at or between the low and high ends of the modeled range.

"Market price above the modeled intrinsic-value range": the observed market price is higher than the high end of the modeled range.

"Insufficient evidence for a modeled range": the data or model evidence is not adequate for a directional state, for example when the range, the price, its observation time or a matching currency is missing, or when the methodology used for that kind of business does not produce a range.

"No intrinsic-value model for this asset class": shown for gold, other commodities and Bitcoin, for which FinBro has no intrinsic-value model and shows no valuation state.

Intrinsic value is the per-share value produced by FinBro's documented valuation model from sourced inputs. The modeled intrinsic-value range shows how that value changes under the model's sensitivity assumptions; it is a methodology sensitivity, not a confidence interval or a probability.

Margin of safety (model) = (modeled base intrinsic value − observed market price) / observed market price. A negative value is shown as "Market price exceeds modeled base value by X%". Margin of safety (model) is not an expected return, upside or forecast.

Neither the valuation state nor the margin of safety (model) is used to include, exclude or order instruments in screen results.

Forward Projected Value (3-year / 5-year, model scenario) is a per-share value modeled under stated scenario assumptions. Forward Projected Values are model scenarios, not price targets or forecasts.

Valuation disclosure, shown with every valuation state, modeled range, margin of safety (model) and Forward Projected Value: This describes the relationship between the observed market price and FinBro's modeled intrinsic-value range. It is not a recommendation to buy, sell or hold, is not based on individual circumstances, and does not assess suitability. Model outputs are estimates, not forecasts or guarantees.

Model-opinion disclosure, shown with AI-written narrative: AI-generated model opinion. It may be incomplete or wrong and can differ between analyses; verify against the cited sources.

Screen disclosure, shown with screen results: Instruments are listed because they meet the documented screening criteria, ordered by market capitalisation. Listing is not a selection or recommendation; instruments outside the analysis budget were not evaluated.

These disclosures are draft set road-a-norating-draft-1, pending counsel review.

Model opinions and parts of each report are generated by AI. A single analysis combines several AI models and automated steps with FinBro's valuation code, so wording and model opinions can differ between analyses of the same instrument.

AI-generated content can be incomplete, outdated, inconsistent or wrong. Check important facts against the cited sources before relying on them.

Pending counsel: the transparency information required under the EU Artificial Intelligence Act and how it is presented in the product.

Outputs show their sources, model date, market-price observation time, methodology, assumptions, model uncertainty and correction status.

Pending counsel: whether any FinBro delivery channel falls within the EU Market Abuse Regulation (Article 20 and Delegated Regulation (EU) 2016/958), which disclosures would then apply, and how they are laid out next to outputs.

Bitcoin content contains no transaction instructions and does not use individual circumstances. FinBro has no intrinsic-value model for Bitcoin; its analysis describes drivers and model scenarios and shows no valuation state.

Pending counsel: classification of Bitcoin content under the EU Markets in Crypto-Assets Regulation (MiCA), including in private chat.

FinBro has no intrinsic-value model for gold or other commodities. Their analyses describe macro drivers and illustrative 3-year model scenario bands, which are not forecasts.

Pending counsel: separate classification of each supported commodity exposure, such as spot metal, commodity derivatives or exchange-traded products.

Facts come from third-party market-data and company-filing providers and from the sources cited in each output. Data can be delayed, incomplete or revised by its provider.

Each valuation shows its model date and the time FinBro observed the market price. That observation time is when FinBro retrieved the price, not necessarily the time of the last exchange trade.

Pending counsel: the data-provider list and the attribution and redistribution terms shown to users.

Each valuation carries a correction status. "Original" means the output has not been corrected or withdrawn since it was produced; it is currently the only status in use.

Pending counsel: correction, withdrawal, update-frequency and record-keeping procedures for outputs.

Investments can lose value, including all capital committed. Past performance and model outputs do not guarantee future outcomes. Seek appropriately qualified help where needed.

Outputs are not forecasts of future value and are provided without any warranty of accuracy, completeness or timeliness. This does not limit rights that cannot be excluded under applicable consumer law.

Pending counsel: enforceable liability limitations and consumer warnings for Spanish and EU retail users.