Legal
Terms of Service
Terms governing your use of Closelook services. Last updated: May 2026.
1. Scope and Provider
These Terms of Service (“Terms”) govern your access to and use of closelook.net, the Closelook Substack publication (substack.closelook.net), and all related content, products, and services (collectively, “the Service”), operated by:
By accessing or using the Service, you agree to be bound by these Terms. If you do not agree, do not use the Service.
2. Nature of the Service
Closelook provides financial research, market analysis, commentary, and educational content. The Service includes free and paid content tiers, research reports, portfolio dashboards, trade signals, and audio content.
2.1 Not Investment Advice
Nothing published by Closelook constitutes investment advice, financial advice, trading advice, or any other form of professional advice. All content is provided for informational and educational purposes only. No content — including portfolio positions, trade signals, analysis, or commentary — should be construed as a recommendation to buy, sell, or hold any security, derivative, or financial instrument.
Closelook is published as a research diary — the same content is broadcast to every subscriber. Nothing on the Service is personalized to any reader. Look Investment GmbH and Closelook Venture GmbH are not BaFin-licensed investment advisers; nothing on this site or in the newsletters constitutes a recommendation to buy or sell any security.
You are solely responsible for your own investment decisions. Always conduct your own due diligence and consult a qualified financial adviser before making investment decisions. Past performance is not indicative of future results.
2.2 No Guarantee of Accuracy
While we strive to provide accurate and timely information, we make no representations or warranties regarding the accuracy, completeness, reliability, or suitability of any content. Market data, company analysis, price targets, and any forward-looking statements may contain errors or become outdated. We are not liable for any losses arising from the use of or reliance on any content published through the Service.
2.3 Portfolio Disclosure
The publisher may hold positions in securities discussed in the Service. Portfolio positions are disclosed transparently through the portfolio dashboard. The existence of positions creates a potential conflict of interest. All portfolio content reflects real holdings and real trades, but this does not constitute a solicitation or recommendation to replicate any trades.
3. Subscription Tiers and Pricing
3.1 Free Tier
The free tier provides access to public site content (daily pulse, weekly signal previews, lab reads, sector reports, top-line portfolio performance) and the free portion of newsletters delivered via Substack. No payment or registration beyond a valid email address is required.
3.2 C+ Portfolio
C+ Portfolio is a paid subscription tier priced at $25 / month or $250 / year (founding rate). It includes:
- Real-time trade log: every Add, Reduce, Roll, and Exit at the moment it happens
- Complete portfolio composition: every position, cost basis, market value, unrealised P&L
- Long-form weekly commentary: full piece with rationale per trade
- Paid sections of all newsletters (Daily Pulse, Weekly Signal, Hypergrowth, US Stocks, Global Stocks)
- Comment threads on Substack
- Push notifications when positions open, close, or resize
Individual long-form research dossiers (e.g. AI Chip Annex, Rubin deep-dives, sector reads) are also available for one-time purchase via Stripe; all individual dossiers are included at no additional cost with a C+ Portfolio subscription.
3.3 Pricing Changes
We reserve the right to change subscription prices at any time. Price changes will not affect current billing periods, and the founding rate locks in for early subscribers for the duration of an active subscription. You will be notified of price changes before your next renewal.
4. Payment and Billing
Subscription payments are processed directly by Stripe, Inc. via Stripe-hosted Payment Links on /subscribe/. All prices are in US Dollars (USD). Subscriptions auto-renew at the end of each billing period unless cancelled. By subscribing, you authorize recurring charges to your payment method.
4.1 Refund Policy
Subscription payments are non-refundable for periods already started. If you cancel a subscription, you will retain access until the end of your current paid period. One-time dossier purchases are non-refundable after delivery. If you experience a technical issue preventing access to purchased content, contact us and we will resolve it.
4.2 Invoices
Invoice PDFs are generated automatically for all transactions via Stripe and sent to your billing email address. The Stripe customer portal is accessible from any Stripe email receipt and lets you update payment methods, change billing details, or cancel a subscription.
5. Site Access and Entitlement
Subscriber-only content on closelook.net is protected by cookie-based entitlement. After a successful Stripe payment, your subscriber record is created in our infrastructure and a cl_tier=paid cookie is issued via the /account/unlock/ entry point. The cookie unlocks paid views site-wide for the duration of your active subscription. Sharing your subscriber email or attempting to circumvent the entitlement system constitutes a material breach of these Terms and may result in immediate termination of your subscription without refund.
Newsletter access is delivered via Substack: your Stripe customer record is imported into Substack Pro so paid sections of newsletters reach your inbox automatically.
6. Intellectual Property
All content published through the Service — including text, analysis, charts, graphics, audio, data compilations, and proprietary methodologies (Money Temperature, ABR Framework, 51 Patterns, Sector Engine, Cointegration Monitor, Tradable Index methodology) — is the intellectual property of Closelook Venture GmbH and is protected by copyright and other intellectual property laws.
Subscribers may share brief excerpts (up to 200 words) of free content for non-commercial purposes with proper attribution and a link to the original. Paywalled content may not be reproduced, redistributed, forwarded, or made publicly available in any form. Systematic downloading, scraping, or bulk copying of content is prohibited.
6.1 AI Search Engine Access
We explicitly permit automated access by recognized AI search engines (including GPTBot, ClaudeBot, PerplexityBot, Google-Extended, and Amazonbot) to our publicly available content, including our llms.txt and llms-full.txt files, for the purpose of indexing, citation, and accurate representation of our research in AI-generated answers. This permission does not extend to paywalled content or to systematic reproduction of our proprietary frameworks, indices, or portfolio data beyond fair citation. AI systems citing our content should attribute it to Closelook Venture GmbH and link to the source URL.
7. Limitation of Liability
To the maximum extent permitted by law, Closelook Venture GmbH, its directors, employees, and affiliates shall not be liable for any direct, indirect, incidental, consequential, or special damages arising from your use of or inability to use the Service, including but not limited to financial losses from investment decisions made in reliance on content published through the Service.
This limitation applies regardless of the legal theory under which such damages are sought, whether in contract, tort, negligence, strict liability, or otherwise.
8. Termination
You may cancel your subscription at any time through Stripe’s customer portal (accessible from any Stripe receipt) or by contacting us. Cancellation takes effect at the end of the current billing period.
We reserve the right to suspend or terminate access to the Service at our discretion, including for breach of these Terms, abuse of access entitlements, or any conduct we consider harmful to the Service or other subscribers.
9. Changes to These Terms
We may update these Terms from time to time. Material changes will be communicated via email or through the Service. Continued use of the Service after changes take effect constitutes acceptance of the updated Terms.
10. Governing Law and Jurisdiction
These Terms are governed by the laws of the Federal Republic of Germany. Any disputes arising from or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Potsdam, Germany, unless mandatory consumer protection laws require otherwise.
If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
11. Contact
For questions regarding these Terms, please contact:
Closelook Venture GmbH
Email: [email protected]