Legal Information and Disclaimer

Legal Information:

Responsibility for the contents: Karl-Heinz Thielmann

Weinbrennerstr. 17, D-76135 Karlsruhe, Germany

Tel.: +49 (0) 721 6293 9773, Fax.: +49 (0) 322 2376 4968

E-mail: info (at) long-term-investing-research.com

Website: www.long-term-investing-research.com

Contents can be cited or be further used with correct reference to “With a Steady Hand” a the source.

Disclaimer:

The articles represent only the opinion of the writers, but not necessarily the opinion of LONG-TERM INVESTING Research AG – Institut für die langfristige Kapitalanlage.

The contents of this blog are only for your information. They do not constitute advice on invest­ment, tax or legal matters. Nor do they contain offers, recommendations and requests to make investment decisions of any kind, for example to deal in financial instruments (e.g. stocks, bonds, investment funds, certifi­cates), to conclude contracts concern­ing financial services or to agree to any other contracts. In particu­lar, this information is no substitute for a suita­ble investor-related and product-related consultation.

Please also note that the value of an investment can both rise and fall. Therefore, investors have to be pre­pared to take and accept losses of their invested capital. Investment results from the past do not allow conclu­sions on future develop­ments.

Although our information comes from sources that we regard as reliable, and the contents of this publication have been compiled with utmost care, we cannot assume – either an explicit or an implicit – guarantee for the correctness or complete­ness of the information.