Dark Stone Capital Quant · Systematic · Capital

Terms of Service

Effective Date: May 3, 2026
Last Updated: May 3, 2026

Welcome to Dark Stone Capital ("Dark Stone Capital," "we," "us," or "our"). These Terms of Service ("Terms") govern your access to and use of the website located at https://www.darkstonecapital.ai (the "Site"), including all content, research publications, articles, data, code snippets, and other materials available through the Site (collectively, the "Content").

By accessing or using the Site, you agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use the Site.

1. Description of the Site and Services

Dark Stone Capital is a research-first, systematic capital firm that trades its own capital in US equities and crypto markets. The Site serves as a public "lab notebook" where we publish research, model post-mortems, regime studies, infrastructure write-ups, and insights from our systematic trading operations.

Important Clarifications:

  • We are not a hedge fund or investment advisor.
  • We do not manage, solicit, or accept outside capital.
  • We offer free membership sign-up (powered by Ghost) which gives you access to email newsletters and new post notifications at no cost. There are no paid tiers, subscriptions, or premium content.
  • All Content is provided free of charge for informational and educational purposes.
  • Nothing on this Site constitutes an offer to sell or solicitation to buy any securities or investment products.

Free Membership (Ghost)

Signing up for a free account on our Site (powered by the Ghost publishing platform) is completely optional and free. Benefits may include:

  • Receiving email notifications when new research is published.
  • Access to any member-only comments or features we enable in the future.

Important: Free membership does not create any client, advisory, or financial relationship with Dark Stone Capital. It is purely a way to stay updated on our public research journal. You can unsubscribe or delete your account at any time.

2. Acceptance of Terms and Modifications

Your access to and use of the Site constitutes your acceptance of these Terms and our Privacy Policy. We reserve the right to modify these Terms at any time. Changes will be effective immediately upon posting the revised Terms on the Site. Your continued use after changes means you accept the updated Terms.

3. Intellectual Property Rights

All Content on the Site, including but not limited to text, graphics, logos, images, research reports, code examples, and the selection and arrangement thereof, is the property of Dark Stone Capital or its licensors and is protected by United States and international copyright, trademark, and other intellectual property laws.

  • You may read, share, and link to our articles for personal, non-commercial use, provided you give appropriate credit (e.g., "Source: Dark Stone Capital – darkstonecapital.ai").
  • You may not reproduce, distribute, modify, create derivative works of, publicly display, or commercially exploit any Content without our prior written permission.
  • Certain code snippets or methodologies may be shared under open-source licenses where explicitly noted; otherwise, all rights reserved.

4. User Conduct

You agree not to:

  • Use the Site in any way that violates applicable laws or regulations.
  • Scrape, crawl, or use automated means to access or collect Content at scale without our express written permission.
  • Attempt to gain unauthorized access to any portion of the Site or its systems.
  • Post or transmit any material that is defamatory, obscene, harassing, or otherwise objectionable.
  • Impersonate any person or entity or misrepresent your affiliation with Dark Stone Capital.
  • Abuse the free membership system (e.g., using multiple accounts to spam comments or newsletters, if commenting is enabled).

5. Disclaimers and No Investment Advice

CRITICAL DISCLAIMERS – READ CAREFULLY:

  1. Not Investment Advice: The Content is provided solely for educational, informational, and research purposes. It does not constitute investment, financial, legal, tax, or any other professional advice. Dark Stone Capital is not a registered investment advisor, broker-dealer, or fiduciary.
  2. No Client Relationship: Nothing on this Site creates an investment advisory, fiduciary, or client relationship between you and Dark Stone Capital. We trade solely our own capital and have no obligation to you or any other visitor.
  3. Past Performance: Any historical performance data, backtests, or examples discussed are for illustrative purposes only. Past performance is not indicative of future results. All trading involves substantial risk of loss.
  4. No Guarantees: We make no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of the Content. Markets are inherently uncertain, and regime shifts, model drift, and unexpected events can (and do) occur.
  5. Your Own Due Diligence: You are solely responsible for any investment or trading decisions you make. Always consult qualified professionals and conduct your own thorough research before making financial decisions.
  6. Hypothetical Performance: Any simulated or hypothetical performance results have inherent limitations and do not reflect actual trading results.

Dark Stone Capital, its principals, and affiliates shall not be liable for any losses or damages arising from your use of or reliance on the Content.

6. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, DARK STONE CAPITAL, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND AFFILIATES SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES, RESULTING FROM:

  • YOUR ACCESS TO OR USE OF (OR INABILITY TO ACCESS OR USE) THE SITE OR CONTENT;
  • ANY CONDUCT OR CONTENT OF ANY THIRD PARTY ON THE SITE;
  • ANY CONTENT OBTAINED FROM THE SITE; OR
  • UNAUTHORIZED ACCESS, USE, OR ALTERATION OF YOUR TRANSMISSIONS OR CONTENT.

IN NO EVENT SHALL OUR TOTAL LIABILITY EXCEED $100 (ONE HUNDRED US DOLLARS), REGARDLESS OF THE CAUSE OF ACTION OR THEORY OF LIABILITY.

7. Indemnification

You agree to defend, indemnify, and hold harmless Dark Stone Capital and its officers, directors, employees, and agents from and against any claims, damages, obligations, losses, liabilities, costs, or debt arising from:

  • Your use of the Site;
  • Your violation of these Terms;
  • Your violation of any third-party right, including intellectual property or privacy rights.

8. Third-Party Links and Content

The Site may contain links to third-party websites, research, or services that are not owned or controlled by Dark Stone Capital. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third-party sites. You access them at your own risk.

9. Termination

We may terminate or suspend your access to the Site or your free membership account at any time, without prior notice or liability, for any reason, including if you breach these Terms (e.g., spamming or abusive behavior). Upon termination, your right to use the Site will immediately cease, and you will be unsubscribed from any email lists. You may also delete your own free account at any time through your member settings.

10. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the State of Delaware, United States of America, without regard to its conflict of law provisions.

Any dispute arising out of or relating to these Terms or the Site shall be resolved exclusively through binding arbitration in accordance with the rules of the American Arbitration Association, held in Wilmington, Delaware (or another mutually agreed location). You waive any right to a jury trial or to participate in a class action.

11. Miscellaneous

  • Entire Agreement: These Terms, together with our Privacy Policy, constitute the entire agreement between you and Dark Stone Capital regarding the Site.
  • Severability: If any provision of these Terms is found to be unenforceable, the remaining provisions will remain in full force and effect.
  • No Waiver: Our failure to enforce any right or provision of these Terms will not constitute a waiver.
  • Assignment: You may not assign or transfer these Terms without our prior written consent.

You agree that Dark Stone Capital shall not be liable for any damages, losses, or costs of any kind arising out of or related to your use of the Site, the Content, or these Terms, to the fullest extent permitted by law.

In the event you initiate any legal action, lawsuit, arbitration, or proceeding against Dark Stone Capital (or its officers, directors, employees, or affiliates), you shall be solely and entirely responsible for paying all attorneys’ fees, court costs, arbitration fees, expert witness fees, and any other expenses incurred by either party — regardless of who wins or loses the case. Dark Stone Capital shall have no obligation whatsoever to pay any fees, costs, damages, or judgments awarded against it. You expressly waive any right to recover attorneys’ fees or costs from Dark Stone Capital under any theory of law or equity.

12. Contact Information

For questions about these Terms of Service, please contact us.

Thank you for reading our research. We publish because the discipline of writing in public improves our work. Trade responsibly.