Legal
Terms of Use
Acceptance
These Terms of Use govern your access to and use of the OpenK Research website at openkresearch.com (the “Site”), operated by OpenK Research, an independent research program of Max Krehbiel (“OpenK,” “we,” or “us”). By accessing or using the Site, you agree to these Terms. If you do not agree, do not use the Site.
Research only, not advice
The Site is for general informational and educational purposes only. Its content is independent research and commentary. It is not, and must not be relied on as, investment, financial, legal, tax, or other professional advice, and it is not individualized to your circumstances. OpenK is not a registered investment adviser and does not provide advisory services, manage money, or accept clients or compensation for advice. Nothing on the Site is an offer, solicitation, or recommendation to buy, sell, or hold any security or to pursue any strategy. See our Research Disclosures.
No reliance and assumption of risk
You are solely responsible for your own decisions. You should obtain independent professional advice before acting on anything you read here. Investing involves risk, including the possible loss of principal. Any illustrative, historical, or hypothetical figures shown are not a track record and do not indicate future results. You use the Site and rely on its content entirely at your own risk.
No warranty
The Site and its content are provided “as is” and “as available,” without warranties of any kind, whether express, implied, or statutory, including any implied warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, or availability. We do not warrant that the Site will be uninterrupted, error-free, secure, or that any information is current, complete, or reliable.
Limitation of liability
To the fullest extent permitted by law, OpenK and Max Krehbiel will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, investment losses, trading losses, lost data, or lost goodwill, arising out of or relating to your use of or inability to use the Site or its content, whether based in contract, tort, strict liability, or otherwise, even if advised of the possibility of such damages. To the fullest extent permitted by law, our total aggregate liability for all claims relating to the Site will not exceed one hundred U.S. dollars (US$100). Some jurisdictions do not allow certain of these limitations, so parts of this section may not apply to you.
Indemnification
You agree to indemnify and hold harmless OpenK and Max Krehbiel from any claims, losses, liabilities, and expenses (including reasonable legal fees) arising out of your use of the Site, your violation of these Terms, or your violation of any rights of another.
Intellectual property and permitted use
The Site and its content, including text, essays, graphics, exhibits, data visualizations, the OpenK name, wordmark, and logos, are owned by OpenK Research and Max Krehbiel and are protected by intellectual property laws. You may view and share links to the Site for personal, non-commercial use. You may not, without our prior written permission, copy, reproduce, republish, redistribute, sell, or create derivative works from the content, nor use it to train, fine-tune, or ground any machine-learning or artificial intelligence system. You may not scrape, crawl, harvest, or use automated means to access or collect the Site or its content except as permitted by our robots directives.
Third-party references and links
The Site may reference or link to third-party materials. Those are provided for convenience only; we do not endorse and are not responsible for third-party content, sites, or services. Product and index names, including “S&P 500,” are trademarks of their respective owners; see our Data and Licensing page.
Governing law and venue
These Terms are governed by the laws of the State of Texas, without regard to conflict-of-laws rules. You agree that the exclusive venue for any dispute relating to the Site or these Terms will be the state or federal courts located in Tarrant County, Texas, and you consent to their jurisdiction.
Changes, severability, and entire agreement
We may update these Terms at any time by posting a revised version with a new date; your continued use of the Site means you accept the changes. If any provision is held unenforceable, the rest remains in effect. These Terms, together with our Privacy Policy and Disclosures, are the entire agreement between you and OpenK regarding the Site.
Contact
Questions about these Terms, or intellectual-property or takedown notices, can be sent through our contact form.
Effective: August 26, 2026.