Not investment advice
Nothing published by Acies Capital constitutes personalized investment advice, a solicitation to buy or sell any security, or a recommendation of any strategy for any specific individual. All content is for informational and educational purposes only.
No registration
Acies Capital is not a registered investment adviser, broker-dealer, investment company, or commodity trading adviser under the laws of the United States, Mexico, or any other jurisdiction. It does not manage client assets, accept client funds, or act as a fiduciary to any person or entity.
Paper portfolio — no capital at risk
The Acies paper portfolio is a hypothetical, simulated trading record maintained to document analytical frameworks in real time against actual market prices. All positions are paper trades only. No real capital is deployed. Past paper performance will not predict, imply, or guarantee any future real-world result.
Forward-looking statements
This publication contains forward-looking statements and macro projections subject to significant uncertainty and material change. Acies makes no representation that any projection will be realized and disclaims any obligation to update such statements.
Independence
Acies Capital accepts no compensation, directly or indirectly, from any issuer, fund manager, broker-dealer, bank, or financial institution in exchange for coverage or favorable treatment. Coverage decisions are made solely on analytical merit and reader relevance.
Material non-public information
All Acies research is based solely on publicly available information. The publication does not conduct private management meetings in a non-public context and does not trade or publish on material non-public information.
Subscriber data
Subscriber information is used solely to deliver publications and for direct reader communication. It is not sold, licensed, or shared for commercial purposes. Subscribers may unsubscribe and request deletion at any time.
Principal risk factors
Market risk
All covered instruments are subject to general market risk. No analytical framework, however rigorous, can eliminate it or guarantee positive outcomes.
Foreign exchange risk
The portfolio holds positions denominated in multiple currencies; all P&L is reported in USD. Currency movements are a primary variable and can move rapidly on intervention, geopolitics, or positioning shifts.
Emerging market risk
EM instruments carry political, sovereign-credit, currency-control, regulatory, and liquidity risks beyond those of developed markets — and these can materialize suddenly.
Concentration risk
The portfolio is concentrated: up to 12 positions with individual weights up to 20%. A single adverse move can materially affect overall performance.
Paper portfolio limitations
Paper results ignore bid-ask spreads, commissions, market impact, short-selling and financing costs. A real-money implementation would differ, potentially materially and adversely.
Model & framework risk
The regime classification, macro assessment, and thesis standard are analytical tools, not guarantees. All rely on assumptions about market relationships that may prove incorrect.
investacies.com · United States · © 2026 Acies Capital. This document and all Acies research are the intellectual property of Acies Capital. Market data is sourced from publicly available sources and believed reliable but has not been independently verified.