What the Price Believes
The terms on which Cape Fear Advisors, LLC provides the What the Price Believes subscription. Effective October 18, 2026.
What the Price Believes is subscription research on publicly traded companies. For each covered company the subscription provides a deck, a workbook and a one-page note (together, the “Research”), and a new edition after each quarterly or annual report and after any filing that moves an input. Coverage is listed on the research page and may change over time.
A subscription is for one named individual (the “Subscriber”). Cape Fear Advisors grants the Subscriber a personal, non-exclusive, non-transferable license to read the Research and to use it in the Subscriber’s own work, including within the Subscriber’s firm for internal discussion. The Subscriber may modify the workbook for the Subscriber’s own analysis.
The Subscriber may quote brief excerpts with attribution to Cape Fear Advisors. Redistribution of the Research in whole or in substantial part, by forwarding, posting, resale, shared access or any other means, requires written authorization. The Research may be used to train or fine-tune a machine-learning model only with written authorization.
Desk subscriptions cover several named readers at one firm, on terms agreed in writing.
The subscription is $100 a month or $1,000 a year, billed in advance by card through Stripe, which issues a receipt and an invoice for each payment. Each renews automatically at the end of its term until canceled. A Subscriber may switch between monthly and annual billing through the billing portal, with the change prorated by Stripe. Annual subscriptions may also be paid by invoice on request, and desk pricing is agreed in writing. Cape Fear Advisors gives at least 30 days’ notice by email of any change in price, effective at the next billing date.
The Subscriber may cancel at any time through the billing portal or by email to [email protected]. A canceled subscription runs to the end of the paid month or year, and editions published during that period are delivered. Fees for a period already begun are retained, except where applicable law provides otherwise.
The current edition is sent by email from Greg Collins, normally on the business day the subscription begins. Refreshes are sent as each is completed after the filing that prompts it. Timing is a target, and a delay in a refresh extends no obligation beyond delivery of the edition when it is complete.
The Research reads what market prices imply and compares that reading with company filings. It is impersonal research of general application, published on a regular schedule and provided as information only. It is not investment advice, makes no recommendation to buy, sell or hold any security, and sets no price target, fair value, forecast or rating. It is not tailored to the circumstances of any Subscriber. Each Subscriber makes his or her own decisions and may consult his or her own advisers. Cape Fear Advisors does not act as an investment adviser or fiduciary to any Subscriber.
The Research is built from public filings and market data, and every figure carries its source and a tag (FILED, FURNISHED, REPORTED, GUIDED or OURS). Cape Fear Advisors works to make the Research accurate and provides it as is, without representation or warranty as to completeness or accuracy. Corrections are made openly, dated, in the next edition or by email to Subscribers.
Cape Fear Advisors holds no direct position in covered companies; any exposure is indirect, through managed funds it does not control. Anthropic develops Claude, which is used in preparing the Research, and each deck names Anthropic or its investors where they appear. Cape Fear Advisors and C3 Metrics are sister companies under common ownership.
To the extent permitted by law, the total liability of Cape Fear Advisors arising from the subscription is limited to the fees the Subscriber paid in the twelve months before the claim, and Cape Fear Advisors is liable for no indirect, incidental, consequential or trading losses.
These terms cover the What the Price Believes subscription only. Custom research, advisory and other engagements are governed by separate written terms.
Cape Fear Advisors collects the Subscriber’s name, email address and, through Stripe, billing details, and uses them to deliver the Research, bill the subscription and send notices about it. Card details are held by Stripe. Subscriber information is kept confidential and is sold to no one. The privacy policy sets out the details.
Cape Fear Advisors may update these terms with notice by email; a subscription continued after the effective date of an update accepts it. These terms are governed by the laws of the State of New Hampshire.
Cape Fear Advisors, LLC, Portsmouth, New Hampshire. Questions on these terms go to [email protected]; privacy requests go to [email protected].
