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Legal notice & privacy

Imprint (Impressum)

Angaben gemäß DDG (Digitale-Dienste-Gesetz):

Jeffrey C. Wolf
Kolonnenstr. 8
10827 Berlin
Germany

Contact
Email: publicemailalias.kite252@passmail.net

Discrepancies is a small private educational project. No VAT identification number (Umsatzsteuer-ID) is currently issued, and no commercial register entry applies. Should commercial activity in the meaning of § 19 UStG arise, this imprint will be updated accordingly.

Responsible for content pursuant to DDG
Jeffrey C. Wolf (address as above).

Disclaimer for external links
Despite careful content review, the operator assumes no liability for the content of external links. The operators of linked sites are solely responsible for their content. At the time of linking, no legal violations were apparent. If any infringement becomes known, the relevant link will be removed promptly.


Privacy policy (Datenschutzerklärung)

The protection of your personal data is important to us. Below we explain what data is collected when you use discrepancies.eu and how it is processed.

1. Data controller
The data controller within the meaning of Article 4(7) GDPR is Jeffrey C. Wolf (address as above). Email: publicemailalias.kite252@passmail.net.

2. Hosting and server log files
This website is hosted on Scaleway (Scaleway SAS, 8 rue de la Ville l’Évêque, 75008 Paris, France). Scaleway operates data centres within the European Union. When you access this site, your browser automatically transmits technical data to the server, including your IP address, the date and time of the request, the page or resource requested, browser type and version, operating system, and referring URL.

This data is processed on the basis of Article 6(1)(f) GDPR (legitimate interest) for the stable and secure operation of the website. Server log data is retained by the hosting provider in accordance with their default policy (7 days for logs, 31 days for metrics) and is not merged with other data sources.

3. Cookies and analytics
This website sets no cookies for tracking, analytics, or advertising, and does not use Google Analytics or any comparable third-party service. For aggregated visitor statistics it uses Umami, a privacy-friendly, cookieless, open-source analytics tool that is self-hosted on the operator’s own infrastructure at Scaleway (Paris, France); the analytics data is not shared with, or processed by, any third party, and is not transferred outside the European Union. Umami records only aggregated, non-personal usage statistics, such as page views, the referring website, and the approximate country, browser, operating system, and device type derived from each request. It does not store your IP address in the analytics database and sets no persistent or cross-site identifier, so the statistics cannot be traced back to you as an individual. Because no information is stored on or read from your device and no personal data is retained for this purpose, no cookie consent banner is required; the processing relies on Article 6(1)(f) GDPR (legitimate interest) in understanding, in aggregate, how the site is used.

4. Newsletter
If a newsletter is offered and you subscribe to it, your email address is collected for the sole purpose of sending the newsletter. The legal basis is your consent under Article 6(1)(a) GDPR. A double opt-in confirmation is used: you receive a confirmation email after signing up and your subscription is only activated once you confirm. Any newsletter would be delivered through a self-hosted instance of Ghost (open-source publishing software) running on the operator’s own infrastructure at Scaleway (Paris, France); no newsletter data is transferred outside the European Union. You can unsubscribe at any time using the link in every newsletter, or by contacting the email above.

5. Donations and support links
This site may contain outbound links to third-party services (for example Ko-fi, Ko-fi Labs Inc., United States) where readers can choose to support the project. Such services are not embedded on this site and no third-party cookies or scripts are loaded. When you follow an outbound link you leave this site, at which point that provider becomes the data controller for any data you provide there and its own privacy policy applies. Where a provider is located in a third country in the meaning of the GDPR, it relies on appropriate safeguards (such as Standard Contractual Clauses) for transfers from the EU.

6. Your rights under the GDPR
Under the General Data Protection Regulation, you have the right to request information about the personal data we hold about you (Article 15), to request correction of inaccurate data (Article 16), to request deletion of your data (Article 17), to request restriction of processing (Article 18), to data portability (Article 20), and to object to processing (Article 21). To exercise any of these rights, please contact us at the email address above. We will respond within one month.

7. Right to lodge a complaint
You have the right to lodge a complaint with a data protection supervisory authority. The competent authority for the operator (Berlin) is the Berlin Commissioner for Data Protection and Freedom of Information (BlnBDI). A directory of authorities is maintained by the German Federal Commissioner for Data Protection at bfdi.bund.de.

8. Changes to this privacy policy
We reserve the right to update this privacy policy to reflect changes in technology, legal requirements, or the functionality of this site. Where new third-party processors are introduced (for example, an analytics tool or payment processor), this policy will be updated before such services are activated. The current version is always available at this URL.


Educational use; not financial advice

Discrepancies is a personal educational and research project about financial analysis and value investing. Its content — the applications, the company case studies, the paper portfolio, the essays, and any statistics or analytical tools — is provided as information, education, and personal commentary.

Nothing on this website constitutes investment advice (keine Anlageberatung), a recommendation or solicitation to buy or sell any security, or any form of personalised financial, legal, or tax advice. No advisory or fiduciary relationship is created by your use of this site. Company case studies, valuations, and any verdict they reach (for example “buy”, “watchlist”, or “pass”) are the operator’s personal opinions, prepared for educational purposes and general illustration, and may be wrong.

The paper portfolio is a hypothetical, notional record kept for accountability and teaching. It involves no real capital, no real trades are placed, and its holdings are not a model portfolio or a recommendation to hold any position. Any reported returns are illustrative.

The operator is not a licensed financial advisor or investment intermediary (kein zugelassener Finanzberater oder Anlageberater im Sinne des WpHG / KWG) and is not authorised by BaFin to provide regulated financial services.

Past performance — whether of the paper portfolio or of any company discussed — is not indicative of future results. Investing in securities involves risk, including possible loss of capital. Before making any investment decision, please consult a qualified, regulated financial advisor and consider your own circumstances.

The analytical tools on this site (for example filing explorers, corpus analytics, or thesis-testing utilities) are educational frameworks for examining public disclosures and historical texts. They do not generate buy or sell signals and are not decision-support systems for any current security.


Source materials and copyright

This site works from primary sources. Company analysis draws on public regulatory filings and disclosures — including US SEC EDGAR filings (10-K, 10-Q and related forms), European ESEF filings, and public statistical data from bodies such as the European Central Bank and the Deutsche Bundesbank. These are public documents; figures and quotations are attributed to the filing or dataset they come from.

The corpus analytics (Value Atlas) and some essays draw on the published works and shareholder letters of Benjamin Graham and Warren Buffett. Excerpts and quotations appear for the purposes of commentary, criticism, scholarship, and education, in reliance on the German right of quotation (§ 51 UrhG / Zitatrecht) and equivalent fair-use principles in other jurisdictions. Each quotation is attributed and placed in analytical context; the site does not reproduce the page images or layout of any third-party compilation.

If you are a rights-holder and have any concern about how material is used here — attribution, scope, or removal of a specific passage — please contact the operator at the email above. We will respond promptly and in good faith.

This page is provided for transparency and good-faith compliance. It does not constitute legal advice. Where specific legal questions arise, please consult a qualified lawyer (Medienrechtler / IT-Rechtsanwalt).

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