Disclaimer

Terms of Use

   June 19, 2008

To Use this Site, Please Acknowledge the Following:
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Content and Limitation of Liability:

   This website does not constitute an offer to sell or a solicitation of an offer to buy or sell any security, nor is it advice or a recommendation to enter into any transaction. Any offer to sell or a solicitation of an offer to buy or sell shall be made solely by a private placement memorandum. The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Bayesian Efficient Strategic Trading, LLC ("BEST") or its affiliates to any registration requirement within such jurisdiction or country.

   This website is based on information obtained from sources that BEST considers to be reliable; however, we make no representation as to, and accept no responsibility or liability for, the accuracy or completeness of the information. BEST EXPRESSLY DISCLAIMS ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. BEST will not be responsible for any loss or damage that could result from interception by third parties of any information transmitted electronically or otherwise in connection with this site. In addition, the Content provided represents the views and opinions solely of the author or the indicated source. Using the content or information provided is your own decision, and BEST is not liable for any loss or damages that may arise from doing so. You agree that you shall independently confirm any information presented to you through the service before relying on such information. BEST, LLC, its affiliates and their respective employees, contractors, agents and various contributors to the service have no duty to correct or update any inaccurate or out-of-date Content.

Performance Results and Track Record:

   All valuations are provided for informational purposes only and may be based on subjective assessments and assumptions using one among alternative methodologies that produce different results; accordingly, such valuations should not be viewed as facts and should not be relied upon as accurate prediction of future events. Information contained herein is subject to change at any time without notice.

   Returns are based on actual (adjusted for leverage and home currency perspective), net of fees and expenses, and include the reinvestment of dividends and other earnings to the extent any exist with respect to each index. All investment in securities involve a risk of loss of capital and no guaranty or representation can be made that an investment will generate profits or that an investment will not incur loss of invested capital.

   Past performance is neither an indication nor guarantee of future performance. BEST considers the information made available in this web document to be accurate and current on the date shown above, but does not represent or make any claim that it is complete. As such, any performance data available herein is for specific research purposes and simulations and figures are not intended as a guide for how much money one might or might not make in the future if this strategy is implemented. Please read the section dedicated to understanding the risk involved in trading.

   THIS RISK OF LOSS IN COMMODITIES AND FUTURES CAN BE SUBSTANTIAL. AS SUCH AN INVESTMENT IN ANY PROGRAM OF THE TRADING ADVISOR INVOLVES A HIGH DEGREE OF RISK. ACCOUNTS CAN ONLY BE OPENED BY WAY OF A TRADING ADVISORY AGREEMENT OR DISCLOSURE DOCUMENT OR CONFIDENTIAL OFFERING MEMORANDUM. POTENTIAL INVESTORS MUST REVIEW SUCH DOCUMENTS COMPLETELY AND CAREFULLY CONSIDER THE RISKS IN DETERMINING WHETHER PARTICIPATING IN SUCH TRADING IS SUITABLE IN LIGHT OF HIS OR HER FINANCIAL CONDITION.

Access to Site:

   Certain sections of this website are electronically protected against unauthorized access. In compliance with certain legal restrictions and regulations, BEST is required to ascertain your status as an “accredited investor” as defined under SEC Regulation D promulgated under the Securities Act of 1933, as amended and as a “qualified eligible person” under CFTC Regulation 4.7. Upon acknowledging your agreement to the term and conditions of this website, you confirm that you meet the relevant suitability criteria described below in order to be granted approval to access to the password protected areas of the site.

   You acknowledge that you are deemed to be an “accredited investor” in that you meet one the following criteria:
   (a) an individual whose net worth exceeds US$1,000,000 (including any individual participant of a Keogh Plan, IRA, IRA Rollover or self directed employee benefit plan);
   (b) an individual who had an income in excess of US $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of US $300,000 in each of those years and who reasonably expects an income in excess of the same income level in the current year; or
   (c) a corporation, company or other entity with total assets in excess of US$5,000,000.

   You further acknowledge and certify that your are a “qualified eligible person” as defined in CFTC Regulation 4.7 in that you meet one of the following criteria:
   (a) a natural person whose individual net worth, or joint net worth with his or her spouse, exceeds $1,000,000 and who owns securities (including pool participations) and other investments having an aggregate market value of at least $2,000,000;
   (b) a partnership, limited partnership, corporation, Massachusetts or similar business trust, other than a pool, which has total assets in excess of $5,000,000, owns securities (including pool participations) and other investments having an aggregate market value of at least $2,000,000;
   (c) an employee benefit plan within the meaning of the ERISA, provided, that the investment decision is made by a plan fiduciary, as defined in section 3(21) of ERISA, which is a bank, savings and loan association, insurance company, or registered investment adviser; or that the employee benefit plan has total assets in excess of $5,000,000; or, if the plan is self-directed, that investment decisions for, or the decisions as to the types of investment alternatives under, the plan are made solely by persons that are qualified eligible persons. The plan, or the individual directing the investments if the plan is self-directed, owns securities (including pool participations) of issuers not affiliated with the undersigned and other investments having an aggregate market value of at least $2,000,000;
   (d) a pool, trust, insurance company separate account or bank collective trust, which has total assets in excess of $5,000,000, owns securities (including pool participations) and other investments having an aggregate market value of at least $2,000,000, and whose investments are directed by a qualified eligible person; or
   (e) you are deemed to be a United States Person for purposes of CFTC Regulation 4.7. Upon approval of a visitor’s application for access to the password protected area of the site, BEST will grant such visitor (a “Registered User”) a personal, non-exclusive, non-assignable, non-transferable and revocable license to use and access certain areas of the website. Unauthorized copying of any material or information on the website or duplication of any material or information in any manner is expressly forbidden. The Registered User acknowledges that it may not sublicense, transfer, sell or assign this license. Any attempt to sublicense, transfer, sell or assign the license will be void. It is further acknowledged that BEST may limit or further condition access to the private areas of the site to user’s that meet other certain suitability requirements; in all cases, BEST reserves the right and shall have sole discretion to grant, allow, refuse or terminate access to the site by any person or entity.

   Additionally, by accessing the password-protected area of this site, you agree to immediately contact BEST if there is any change in your status as an accredited investor and/or qualified eligible person. Each Registered User, including individuals and entities, should communicate with their legal advisors if they believe that their status as an accredited investor or qualified eligible person has changed.

Outside Links:

   BEST may provide a link to other sites as part of a BEST service. BEST does not control the other sites, and BEST makes no representations whatsoever concerning the content of those sites. The fact that BEST has provided a link to a site is not an endorsement, authorization, sponsorship, or affiliation with respect to such site, its owners, or its providers. There are risks in using any information, software, or products found on the Internet, and BEST cautions you to make sure you understand these risks before retrieving, using, relying upon, or purchasing anything via the internet. You agree that under no circumstances will you hold BEST liable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites.