Terms of Service

Last updated October 15, 2026

These terms cover your use of uglyduckcapital.com, run by Ugly Duck Capital (“UDC”, “we”). By using the site you agree to them.

Not investment advice

Everything on this site — ratings (Buy / Watch / Pass), price targets, valuations, research and The Pond's record — is opinion and analysis published for information and education. It is not investment, financial, legal or tax advice, and not a recommendation that any person buy, sell or hold any security. We are not your adviser or broker. Do your own research and consult a licensed professional before acting.

UDC may hold positions in securities it rates; The Pond marks those calls. Positions can change at any time without notice. Past results, including The Pond's record, do not predict future results.

Data

Prices and market data come from third-party sources, may be delayed (quotes on The Pond are about 15 minutes delayed) and may contain errors. We do not guarantee accuracy, completeness or timeliness.

Accounts

Keep your sign-in secure; you are responsible for activity on your account.
One ticker request per account per week. Don't create accounts to get around limits.
Paid features are for your own use; don't resell, scrape or redistribute the models, data or research.

Acceptable use

Don't attempt to break, overload or gain unauthorized access to the site, and don't use it for anything unlawful. We may suspend accounts that do.

Our content

The site, its research, models and brand (including the duck) belong to UDC. You may link to and quote short excerpts from The Pond with attribution.

No warranty; limitation of liability

The site is provided “as is”, without warranties of any kind. To the fullest extent the law allows, UDC is not liable for any loss — including investment losses — arising from your use of the site or reliance on anything published on it.

Changes

We may update these terms; the date above shows the latest version. Continued use means you accept the changes. Privacy is covered in our Privacy Policy. Questions: jtsparks080@gmail.com.