Risk disclosure.
- Yogeshwar VashishthaSEBI RA · INH000027168
Everything taught and published here concerns securities markets, where money can be lost. This page says how — without softening it. Please read it before you act on anything you learn or read on this site.
Investment in securities market is subject to market risks. Read all the related documents carefully before investing.
- You can lose part or all of the money you invest or trade with. With leverage, you can lose more than that.
- None is promised, expected, targeted or implied — anywhere on this site.
- General opinion for all subscribers alike. It can be wrong, and it is not advice about your circumstances.
- Teaches a method. A method is not a result.
- Every order is placed by you, in your account, on your judgement.
Market risk
The price of a share, an index or a derivative can fall as easily as it can rise — sharply, without warning, and for longer than seems reasonable. Prices move with company results, interest rates, inflation, currency, policy and regulation, global events, the flows of large investors, and sentiment. None of these can be forecast reliably, by anyone.
Beyond price itself, there are risks that are easy to overlook:
- Company risk — a business can disappoint, be mismanaged, be defrauded or fail. A share can go to zero.
- Liquidity risk — you may not be able to sell when you want to, or only at a much worse price. Circuit limits and trading halts can lock you in.
- Concentration risk — a few holdings, or holdings in one sector, rise and fall together.
- Behavioural risk — fear and greed do more damage to most portfolios than any single stock. Buying late and selling in a panic turns a sound method into a loss.
- Operational risk — broker, exchange, bank and internet systems fail at inconvenient moments.
Only invest money you can leave invested, and never trade with money you cannot afford to lose — least of all borrowed money.
No guarantee of returns
Yogeshwar Vashishtha does not guarantee, promise, project or imply any return, profit, income or protection from loss — not for the research, not for the model portfolio, not for anything taught in a session. Assured, guaranteed or fixed-return schemes are prohibited by law, and none is offered here.
If anyone claiming to represent him offers you an assured return, asks to trade on your behalf, or asks for your trading, demat or bank credentials or an OTP, it is not him. Do not share them, and please write to contact@yogeshwarvashishtha.in.
Past performance
Past performance is not indicative of future results. That holds for a stock, a sector, a strategy, a backtest, a model portfolio and an analyst alike. A view that worked before may fail next time, because the conditions that made it work have changed.
No performance figures are published on this site. Any table marked Illustrative — the format, not the holdings shows the format of a service and nothing more: it is not a record, and it contains no recommendations.
Research is general opinion
Research opinions are general in nature and are not personalised investment advice. Investment in securities market is subject to market risks. Past performance is not indicative of future results.
Research published by Yogeshwar Vashishtha as a SEBI Registered Research Analyst (Reg. No. INH000027168) is prepared for all subscribers alike. It does not know your income, your goals, your existing holdings, your tax position, your time horizon or how much loss you can bear — and so it cannot tell you whether a security suits you, or how much of it to hold.
- Every opinion, estimate and projection rests on data available, and assumptions made, on the date the report was prepared. Facts change; a report does not update itself.
- Research can be wrong. A careful process reduces error; it does not remove it.
- There is no recourse for losses on investments made on the basis of a research report. Reliance on a report is your own judgement of its conclusions.
These points are set out formally in the Most Important Terms and Conditions, which every research client sees before subscribing.
The Investors Portfolio — specific risks
The Investors Portfolio is a research service: a list of stocks with suggested weightages, reviewed monthly and rebalanced as and when required, with rationale. It is a model, not a managed account — nobody invests for you — and it carries risks of its own.
- Concentration. A model portfolio of this kind is focused. One or two poor holdings can hurt the whole, and it will often behave very differently from the broad market — in both directions.
- Horizon. It is built for an investment horizon of 3–5 years. Over shorter periods the value can be well below what you put in. If you may need the money sooner, it is unlikely to suit you.
- Drawdowns. Equity portfolios suffer deep and prolonged falls from time to time. Expect them. The test of a long-horizon portfolio is whether you can sit through one.
- Liquidity. Some holdings may be thinly traded. When many subscribers act on the same update, prices can move before your order is filled.
- Your results will differ from the model. You will buy on different dates, at different prices, in different proportions, and you will pay brokerage, charges and taxes that a model does not. Two subscribers following the same portfolio can have quite different outcomes.
- Quarterly service. The service is subscribed to and renewed by the quarter; the horizon of the portfolio is far longer than that. If you stop subscribing you will no longer see reviews or rebalancing updates for stocks you still hold.
Trading, derivatives and options
The Yogeshwar Financial Markets Mastery Program teaches swing and positional trading, technical analysis, and options concepts and strategies including hedging and covered calls. These are taught so that you understand them. Understanding an instrument is not a reason to trade it.
Leverage cuts both ways. In derivatives you can lose more than you put in.
- Futures are leveraged: a small move in the underlying is a large move in your capital, and losses beyond your margin must be paid in — sometimes the same day.
- Buying options limits your loss to the premium — and the entire premium is lost if your view is wrong, or merely late. Time works against the buyer every day.
- Selling options earns a limited premium against a loss that can be very large — far beyond the premium received, and beyond the margin posted.
- Hedges and covered calls reduce some risks by accepting others: they cost money, cap gains, and can fail to protect when markets gap.
- Short-term trading of any kind multiplies costs — brokerage, statutory charges, impact cost and tax — and these compound against you.
SEBI has published studies of individual traders in the equity derivatives segment. Their consistent finding is that the large majority of individual traders lose money, and that transaction costs make those losses worse. Read them on sebi.gov.in, and read your broker’s risk disclosure document, before you place a derivatives trade.
Algorithmic trading
The algorithmic trading part of the curriculum has one aim, stated the same way everywhere: learn to build and test your own strategies. No strategy, template or platform shown in a session is promised to be profitable, and no ready-made profitable algorithm is sold here.
- A backtest is not a prediction. It shows how a rule would have behaved on past data, under assumptions about prices, costs and fills that live markets do not honour.
- Overfitting. The more a strategy is tuned to the past, the better its backtest looks and the worse it tends to do afterwards.
- Costs and slippage turn many strategies that look profitable on paper into losing ones.
- Paper trading is not live trading. It has no slippage, no partial fills and no fear.
- Technology fails. Data feeds, broker APIs, servers and connections break. An unattended algorithm can repeat a mistake many times before anyone notices.
- Rules apply. Algorithmic trading by individuals is subject to the rules of SEBI, the exchanges and your broker. Complying with them is your responsibility.
Education is not advice
The live sessions, the recorded library, and the notes and templates are education. They teach how to analyse, how to size a position, how to manage risk and how to test an idea. Stocks, charts and strategies shown while teaching are examples chosen to explain a concept. They are not recommendations to buy, sell or hold, whenever and however they are mentioned.
Completing the curriculum, or holding a certificate, does not make anyone a profitable investor or trader, and is not a qualification to advise others. The free Financial Freedom Planner is an illustration too:
Illustrative only. Assumes 12% annual returns, income growth as entered and expenses held constant. This is not investment advice. Investments in securities markets are subject to market risk.
Use of AI tools
AI tools may assist in research preparation; the analyst remains responsible for all research output.
AI tools can be wrong, out of date or confidently mistaken. Nothing is published as research unless Yogeshwar Vashishtha has reviewed it and is prepared to sign it. No AI system makes or issues a recommendation here on its own.
What SEBI registration does not mean
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Registration means he is regulated and accountable — it says nothing about whether any research view will prove right.
Yogeshwar Vashishtha is registered as a Research Analyst only. He is not registered as a Portfolio Manager, Investment Adviser, Stock Broker or Depository Participant. He does not manage money, give personalised investment advice, execute trades or hold securities. The details are on the SEBI registration page.
Your decision, and your own adviser
Every investment and trading decision you make is yours, and so are its results — gains and losses alike. Before acting, consider your own financial position, your goals, your horizon and how much you could lose without it changing your life. If you are unsure whether something suits you, consult a SEBI-registered Investment Adviser, and a tax professional where tax matters.
If something here has gone wrong for you, the route is set out on the Grievance Redressal page. The agreement itself is in the Terms of Service.
Questions
If any part of this page is unclear, ask before you invest, not after.