Expert
Disclosures and conflicts
Who gets paid, what’s disclosed, and how incentives bend narratives. Education only — not a recommendation to buy, sell, or hold anything.
Follow the incentives
- Commissions, spreads, affiliate fees, soft dollars, revenue sharing — name them.
- Free apps still monetize somehow.
Conflicts are normal — unmanaged ones are the issue
A conflict means interests can diverge. Literacy asks whether it is disclosed and how it is handled — not whether humans have incentives (they do).
Reading disclosures
- Fee tables, risk factors, related-party notes.
- Boring pages are often where truth hides.
Education vs pitch
Education names uncertainty. Pitches erase it. If downside talk is missing, slow down.
Practice tip: Compare tone on Advice vs education · full lab boundary on /disclaimers/.