Disclaimer

Saratoga Research & Investment Management (“SaratogaRIM”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability. SaratogaRIM may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. SaratogaRIM’s website (https://www.SaratogaRIM.com) (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client as SaratogaRIM’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by SaratogaRIM with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

SaratogaRIM does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to the Website or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Certain portions of the Website (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, SaratogaRIM’s (and those of other investment and non-investment professionals) positions and/or opinions as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current positions and/or opinions. Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from SaratogaRIM, or from any other investment professional. SaratogaRIM is neither an attorney nor an accountant, and no portion of the Website content should be interpreted as legal, accounting or tax advice.

Each client and prospective client agrees, as a condition precedent to his/her/its access to the Website, to release and hold harmless SaratogaRIM, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from SaratogaRIM.

This website is for informational purposes only and does not constitute a complete description of our investment services or performance. This website is in no way a solicitation or offer to sell securities or investment advisory services except, where applicable, in states where we are registered or where an exemption or exclusion from such registration exists. Information throughout this site, whether stock quotes, charts, articles, or any other statement or statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Nothing on this website should be interpreted to state or imply that past results are an indication of future performance. Neither we or our information providers shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in the transmission thereof to the user. Clients are advised to compare their custodian statements with those contained on this website on a regular basis. Your official record for tax reporting is your year-end form 1099. THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS OR ANY LINKED WEBSITE.

© 2023 Saratoga Research & Investment Management. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system without permission of copyright holder. Request for permission to make copies of any part of the work should be mailed to SaratogaRIM, Attn: Marc Crosby, P.O. Box 3552, Saratoga, CA 95070.