Disclaimer

Phidox is a research tool. It describes what market data shows. It does not give investment advice, it does not recommend buying, selling or holding anything, and we are not registered with the Autorité des marchés financiers (AMF) or any other securities regulator.

What Phidox actually does

You ask a question about markets. Phidox queries a database of historical prices, company filings and news, runs statistical models over that data, and writes up what it found — showing every query and calculation along the way. That is the whole product.

Everything it produces is a description of data, most of it about the past. Nothing on this site is a forecast you should rely on, a recommendation to buy, sell or hold any security, or an opinion about whether an investment suits you.

What it is not

• Not advice, and never personalised. Phidox does not know your finances, goals, tax position or tolerance for risk, does not ask, and is built not to use them if you volunteer them. It cannot tell you what is suitable for you.
• Not a registered adviser, dealer or planner. Phidox is operated by its founders as individuals, not an incorporated company. Neither Phidox nor its operators hold any registration with the AMF, the Canadian Securities Administrators or any equivalent body, and none of us is a financial planner. We do not manage money, hold client assets, take orders or execute trades.
• Not a solicitation. Nothing here is an offer, or a solicitation of an offer, to buy or sell a security, in Quebec or anywhere else.
• Not paid to promote anything. We receive no compensation from any issuer, broker, fund or promoter for anything Phidox says about them, and no commission on any trade.

How Phidox stays on the right side of that line

The analysis is written by an AI system. It is instructed never to tell anyone to buy, sell, hold, short or allocate money to anything, never to recommend, and never to assess anyone's personal situation. Every answer is also checked automatically before you see it, and wording that reads as a recommendation is sent back to be rewritten as a description of the data.

No safeguard is perfect. If an answer ever reads as telling you what to do with your money, it is a malfunction, not a recommendation: do not act on it, and please tell us at privacy@phidox.com so we can fix it.

You are talking to an AI

Answers are generated by a large language model provided by OpenAI (or by the provider whose API key you connect), not by a person. It can misread a number, draw an unsupported conclusion, or state something confidently and incorrectly. That is why every answer shows its queries and calculations: so you can check the work rather than trust the tone. Please do check it.

The models, honestly

Phidox includes trained statistical models, and their measured accuracy is published on this site rather than hidden. The next-month ranking model has an out-of-sample rank information coefficient of roughly +0.08 — a weak but persistent tendency to order thousands of stocks slightly better than chance, measured over many months. It says nothing reliable about what any single stock will do, and any individual ranking can be, and often is, wrong. Current figures are on each model's page.

Past performance does not predict future results. Models fitted to the past can fail without warning when conditions change.

Backtests are hypothetical

A backtest simulates how a rule would have behaved on historical prices. It is not a record of real trading. It benefits from hindsight, simplifies costs, taxes, liquidity and execution, and runs on a database of companies listed today, which leaves out many that failed and flatters historical results. A strategy that did well in a backtest can lose money in practice.

Alerts are not trading signals

Alerts re-run a saved query after the nightly data refresh. They use end-of-day data, are not real-time, may arrive late or not at all, and describe a condition in the data — they are not an instruction or a recommendation to trade.

Community content is not ours

Analyses, alerts and comments published by users are their own. We do not review or endorse them, and they are not advice from Phidox. Authors may hold positions in the securities they write about.

Our own holdings

The people who run Phidox may personally own securities that appear in its data or its answers. Answers are generated automatically from the data; the operators do not write, edit or steer them toward or away from any security.

The data can be wrong

Market data comes from a third-party provider and is refreshed on a schedule. It can be delayed, incomplete or incorrect. Coverage is US-listed common stocks; anything else may be missing entirely. When Phidox searches the web for context, it reads pages we do not control.

Your decisions are yours

You alone are responsible for your investment decisions and their consequences. Before acting on anything you read here, consider speaking with a professional registered in your jurisdiction who knows your situation. In Quebec you can check whether a firm or representative is registered in the AMF's public registers.

Questions about this page: privacy@phidox.com