What EconoBeats is

EconoBeats is a research and education service. We publish 13 composite macro and market indicators built from public data; an Actionable Layer that turns the current indicator readings into a model allocation; a library of research reports on companies, sectors and themes, together with a weekly macro report; the Market Outlook newsletter; and guides, courses, tutorials and research studies. A private members' network is announced as coming soon. That is what we sell: information and analysis that you read and use at your own discretion.

Everything on this website and inside the platform is general content addressed to all our readers and subscribers alike. The same content is available on every plan, and nothing changes according to who is reading it. Nothing is prepared for you individually and nothing is adapted to your portfolio.

Not investment advice, not a personal recommendation

Nothing published by EconoBeats is investment advice or a personal recommendation, and nothing is an offer or an invitation to buy, sell or hold a financial instrument, or an offer of a financial product or service of any kind. We publish without knowing who you are, what you hold or what you intend to do.

Part of what we publish does speak about individual companies and instruments, and does express a view on them: a company report can state a value we consider fair for a share and set it against the last traded price. Material of that kind is general research. It is published to every subscriber at the same time and in the same words, it is our opinion about an instrument, and it is formed without any knowledge of your circumstances. It is not a recommendation addressed to you, not an instruction to act, and not a judgement that the instrument is right for you.

In concrete terms:

• an indicator value, level or state is a measurement of public data, not an instruction to act;
• the Actionable Layer is the output of our model, identical for every subscriber who opens it, and not a portfolio built for you — see the section below;
• when you switch on an alert for an indicator, what we keep today is your preference: alert e-mails are not being sent yet. When they start, an alert will tell you that the indicator changed state or crossed its threshold; it will not tell you what to do about it;
• a report, a newsletter edition, a guide or a course explains how we read the data and what we make of it; it does not tell you what belongs in your portfolio;
• we do not answer individual questions about what to buy, sell or hold, whether by email to contact@econobeats.com or in any member discussion feature we may open later.

The Actionable Layer

On the MacroBeats dashboard, the Actionable Layer shows a set of asset-class weights and industry weights together with a short note explaining which readings drive them. It is available for the Regimes tab and is added to the other tabs as the corresponding models go live.

Those weights are the output of our model, computed from the current indicator readings for the region you selected. They are the same for every subscriber who opens that tab. They are not a portfolio built for you and not a recommendation to buy, sell or hold anything. The model knows nothing about your holdings, your income, your constraints, your horizon, your taxes or your tolerance for risk, and no part of it checks whether its result is appropriate for you. It speaks in asset classes and industries, never in individual instruments.

The weights change as the readings change, without notice and without any duty on our side to tell you. A tilt, a large weight or a weight of zero is a property of the model, not a signal to trade. Read the Actionable Layer as one disciplined way of reading our own indicators, and as nothing more than that.

Research on individual companies and instruments

Where a report or a newsletter edition discusses a named company, share or other financial instrument:

• any value, fair value, target or price level we state is our opinion on the date of that material, derived from assumptions that can turn out to be wrong;
• the prices we quote for comparison are the prices of a stated moment and are out of date as soon as the material is published;
• our rule is that such material states the method and the main assumptions behind the figure, what the figure means, and the date of the prices used;
• we may change our view, or stop covering the subject, without telling you, and we are not obliged to update, restate or withdraw a report once it is published;
• a report about one company says nothing about the rest of your portfolio, and concentration in a single instrument can cost you the entire amount invested;
• some reports in the library are not written by us at all — see “Sources and third-party material” below.

Independence and interests

Our research is paid for by our subscribers and by nobody else. We take no payment from any issuer, broker, fund or other third party for publishing research or for covering a subject, we carry no advertising, and we accept no sponsored or paid content.

The people who produce our research, and persons closely associated with them, may hold personal positions in instruments we write about. Our rule is that such a position is disclosed in the material concerned, and that we never publish research in order to influence the price of an instrument or for the benefit of a position we hold.

No client relationship and no assessment of suitability

A subscription gives you access to content. It does not make you a client in any advisory sense, and it creates no duty on our side to look after your interests, your portfolio or your money.

We do not know and do not ask about your financial situation, your objectives, your knowledge and experience, your time horizon or your tolerance for risk. We therefore never assess whether anything we publish is appropriate or suitable for you. No part of the platform performs such an assessment, and no content should be read as if one had been made.

We are not an authorised investment firm

We are not an investment firm and we are not authorised, registered or supervised by the Autoritatea de Supraveghere Financiară (ASF) or by any other financial supervisory authority. We do not provide investment services or activities, we do not provide investment advice, we do not receive, transmit or execute orders, and we do not hold client money or financial instruments.

We do not describe ourselves, and we should not be understood, as an investment adviser, a financial adviser or a regulated or licensed provider of any financial service.

How the indicators are built

Our indicators are computed from publicly available statistical and market data using set formulas. They are not produced by an artificial intelligence model and they are not predictions. Each indicator has a guide on the platform that sets out its components, its formula, its thresholds and the data series behind it, and the Actionable Layer weights are computed from those same readings.

An indicator describes a relationship observed in historical data. Historical relationships may weaken, change or stop working: a pattern that preceded an event several times in the past can fail the next time, can appear early or late, or can appear with nothing following it. A composite indicator also depends on choices we make — which series to include, how to weight and standardise them, where to draw thresholds — and different reasonable choices would produce different readings.

Data, revisions and “as of” dates

The data behind the indicators comes from public sources that revise their own statistics. A figure published today can be restated later, so an indicator can read differently after a revision even though we changed nothing in it.

Every number we publish carries the date it refers to — its “as of” date — and each indicator and report is published in a dated version; where we quote a market price, we state the moment it was taken. Please read those dates. Content that was accurate when it was published is not necessarily accurate when you read it, and we are not obliged to update, restate or correct a report, a newsletter edition or an indicator reading after publication.

No guarantee of accuracy, completeness or availability

We work carefully with our data and our calculations, but we do not guarantee that the content is accurate, complete, current or free of error, and we do not guarantee that the platform, an indicator, a report or the underlying data will be available without interruption. Public sources change, delay, restate and withdraw their series, and technical faults occur.

To the extent permitted by law, we accept no liability for decisions taken on the basis of our content, or for loss resulting from its use, from errors in it, or from its unavailability that is not attributable to us, as set out in section 14 of the Terms of Service. Nothing here limits the rights you have as a consumer that cannot be limited by contract, including the legal guarantee of conformity for digital services described in our Terms of Service.

Past performance and statements about the future

Past performance, and the past behaviour of an indicator or of a model allocation, are not reliable indicators of future results. Nothing that worked before is guaranteed to work again.

Part of our content looks ahead: scenarios, projections, estimates of value or of a price level, and statements about what may happen. Where such material appears it is identified as an estimate, a projection or an opinion, and it rests on assumptions that can turn out to be wrong. It is not a promise, a guarantee or a forecast you can rely on, and the actual outcome can differ materially and unfavourably from it.

Your decisions are your own

You decide what to do with what you read here, and you carry the consequences. Investing involves risk, including the risk of losing the entire amount invested. Before acting, do your own research; if you need advice on your own situation, obtain it from a person or firm authorised to provide investment advice in your country — in Romania, one authorised and supervised by the ASF — and, for tax matters, from a qualified accountant or tax adviser.

Sources and third-party material

Our indicators use public data from the Federal Reserve Bank of St. Louis (FRED, including the FRED-MD database), the Organisation for Economic Co-operation and Development (OECD), the National Bureau of Economic Research (NBER), Cboe Global Markets (CBOE) and the U.S. Commodity Futures Trading Commission (CFTC), and from other public statistical, central-bank and academic sources where an indicator requires them. The sources actually used are named in each indicator's guide and wherever their data appears.

Those organisations own the data they publish and the rights in their names and marks. We use their data in accordance with the terms on which they publish it. None of them produces, reviews, endorses or sponsors EconoBeats, none is associated with us, and none is responsible for our calculations or our conclusions. What we publish is our reading of their data, not a statement by them.

Some reports in the library are not ours. They are produced by third parties and are shown under the name of their source; where we make such a report available, it remains the work of that source, we publish it only on the terms that source permits, and we give no warranty as to its content. Any comment we add to it is ours, not theirs. Reports are shown inside the platform as documents you can read on screen — some as PDF files, some as page images — and a small number of them, or of their first pages, may be open to non-subscribers.

Who publishes this

This content is published by BARBU ROBERT-FLORIAN PERSOANĂ FIZICĂ AUTORIZATĂ. Editorial responsibility for the research published on EconoBeats is held by Robert-Florian Barbu. Our full identification data, including how to reach us, is set out in our Terms of Service.

This disclaimer forms part of our Terms of Service and applies to the website, the platform, the indicators, the Actionable Layer, the research reports, the Market Outlook newsletter, the guides and courses, and every other material we publish. If you do not accept it, please do not use the service.