Legal Document
Effective Date: June 10, 2026 | Last Updated: July 2026 | NorthAnchor LLC, London, Kentucky
RISK WARNING: Investing in securities involves substantial risk of loss and is not suitable for all investors. You may lose some or all of your invested capital. Past performance, whether actual or simulated, does not guarantee future results. Never invest money you cannot afford to lose.
Project Blackbook, operated by NorthAnchor LLC, provides information aggregation, data transparency, and educational simulation services only. Nothing on this platform constitutes investment advice, financial advice, trading recommendations, legal advice, tax advice, or any other form of professional regulated advice. NorthAnchor LLC is not registered with the SEC, FINRA, CFTC, or any state securities regulator in any capacity. This platform cannot and does not provide investment advice and cannot recommend buying, selling, or holding any security. Nothing on this platform should be interpreted as a solicitation or recommendation to buy, sell, or hold any security. Users are strongly encouraged to consult a licensed financial advisor before making any investment or financial decision.
Congressional trade data is sourced from public STOCK Act disclosures filed with the Office of the Clerk of the U.S. House of Representatives and the U.S. Senate Office of Public Records. The STOCK Act permits members of Congress up to 45 calendar days to disclose trades after the transaction date. By the time data appears on this platform, the underlying transaction may have occurred weeks earlier. The maximum civil fine for a late filing is $200, making late filings economically inconsequential for some members of Congress. Congressional disclosures report transaction values in broad dollar ranges rather than exact amounts. Project Blackbook uses the midpoint of each disclosed range to estimate transaction values. These are estimates only — actual transaction values may differ materially from midpoint estimates. Some congressional disclosures represent trades made by a member's spouse or dependent children, not the member personally. These trades are included where disclosed as required under the STOCK Act and are labeled accordingly where possible. Congressional disclosures are occasionally amended or corrected after initial filing. Project Blackbook reflects the most recently available disclosure data; however, amended filings may not always be reflected across all platform features. NorthAnchor LLC sources data directly from official government disclosure documents. Some filings contain inconsistent formatting which may result in parsing errors or a small number of missed trades. While we make every effort to capture all publicly available congressional trade disclosures, no guarantee can be made that all disclosures will be captured or displayed accurately. If you believe a trade is missing or inaccurate, please contact us at [email protected] or message us on Facebook at facebook.com/projectblackbook. NorthAnchor LLC does not independently verify government filings and makes no warranty of accuracy, completeness, or timeliness of the data displayed. The display of congressional trade data does not constitute an allegation of illegal conduct by any politician.
All performance results displayed in the Project Blackbook Simulation Engine are hypothetical, simulated, and educational in nature. They do not represent actual trading activity. In accordance with CFTC Rule 4.41 — Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Since the trades have not actually been executed, the results may have under- or over-compensated for the impact of certain market factors, including but not limited to lack of liquidity, bid-ask spreads, commissions, slippage, and taxes. Simulated trading programs are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Backtesting. The Simulation Engine includes a backdating feature that allows users to construct hypothetical portfolios using historical congressional disclosure data. Backtested results are inherently hypothetical — they reflect what a portfolio would have returned had it been constructed at an earlier point in time, based on closing prices available in our database on the relevant historical dates. Backtested performance does not represent actual trading, does not account for real-world execution constraints, and should not be interpreted as indicative of future results. The availability of historical price data varies by security; some backdated simulations may reflect incomplete pricing data for thinly traded, delisted, or foreign-listed instruments. Entry Price Methodology. Entry prices are automatically assigned based on the closing price of the applicable U.S.-listed security on the date the congressional disclosure became part of the public record — not the date of the actual transaction. Users cannot select, modify, or override entry prices. Actual prices available to investors at the time of disclosure may have differed materially from the closing prices used in simulations. Coverage Limitation — U.S.-Listed Securities Only. The Simulation Engine and TheOracle analysis are limited to securities listed on U.S. exchanges (NYSE, NASDAQ, NYSE American, and OTC Markets). Congressional disclosures may include trades in foreign-listed equities, ADRs listed outside the United States, mutual funds, ETFs listed on non-U.S. exchanges, cryptocurrencies, warrants, structured notes, and other non-equity instruments. Such instruments are excluded from simulation portfolios and TheOracle performance calculations. The absence of a disclosed trade from a simulation does not imply that the trade did not occur. NorthAnchor LLC makes no representation that simulation results reflect the complete trading activity of any member of Congress. Stock prices used in simulations are sourced from third-party market data providers and may not be real-time. Prices may differ from actual market prices due to data provider delays, feed interruptions, or market conditions at the time of disclosure. Congressional disclosures report transaction values in ranges rather than exact amounts. Simulation position sizing is based on midpoint estimates of disclosed ranges. Actual position sizes may differ from those used in simulations. We make every effort to reflect accurate simulated performance data. However, no guarantee can be made that simulated results will match real-life trading outcomes. Actual results may differ materially due to factors beyond our control including but not limited to price gaps, market volatility, and data provider limitations. Amended or corrected congressional filings may not always be reflected in existing simulation results. Simulations are based on the disclosure data available at the time of processing. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. The ability to withstand losses or adhere to a particular strategy despite trading losses are material points that can adversely affect actual trading results. Past simulated performance does not guarantee future results.
The "Recently Active Politicians" feature displayed on the Simulation Engine page identifies members of Congress with the highest volume of publicly disclosed trades within a selected time window. This feature is provided for informational and transparency purposes only. The display of recently active politicians is based solely on trade disclosure volume within the selected period. It is not a recommendation, endorsement, or suggestion to follow, mirror, or replicate the trading activity of any politician. Trade frequency does not indicate performance quality, investment merit, or future results.
Investing in securities involves substantial risks including but not limited to: (a) Market Risk — investment values may decline due to market conditions, economic factors, or geopolitical events; (b) Liquidity Risk — securities may be difficult to sell at favorable prices, particularly during periods of market stress; (c) Information Risk — public data including congressional disclosures may be incomplete, inaccurate, or untimely; (d) Disclosure Lag Risk — congressional trades are disclosed up to 45 days after execution; market conditions may change materially during this period; (e) Regulatory Risk — changes in laws or regulations may adversely affect investment values; (f) Concentration Risk — concentrated positions in single securities or sectors increase potential for loss; (g) Execution Risk — prices shown on this platform may not reflect the prices at which trades could actually be executed. Users should carefully consider their investment objectives, risk tolerance, and financial situation before making any investment decision.
This platform displays data from third-party sources including U.S. government agencies, financial data providers, and market data services. NorthAnchor LLC does not endorse or guarantee the accuracy, completeness, or timeliness of third-party information. Stock prices displayed on this platform are sourced from third-party market data providers. Prices may not be real-time and may be delayed. NorthAnchor LLC is not responsible for any loss arising from reliance on third-party data or delayed price information.
Project Blackbook is a nonpartisan, politically neutral platform. The display of any politician's trading data, confidence grade, simulation performance, or activity ranking does not constitute an endorsement of that politician, their political party, their political views, or their investment activity. Project Blackbook does not take positions on any political matter.
This platform may contain forward-looking statements, projections, or performance estimates. These are inherently uncertain and should not be relied upon as predictions of actual outcomes. Actual results may differ materially from any projections or estimates shown.
To the fullest extent permitted by applicable law, NorthAnchor LLC, its officers, employees, and affiliates shall not be liable for any direct, indirect, incidental, consequential, or punitive damages arising from your use of this platform or reliance on any information displayed herein.
NorthAnchor LLC reserves the right to update or modify this disclaimer at any time. The effective date at the top of this document reflects the date of the most recent update. Continued use of the platform following any update constitutes acceptance of the revised disclaimer.
NorthAnchor LLC
London, Kentucky, United States of America
This disclaimer is incorporated by reference into the Project Blackbook Terms of Service Agreement.
For questions: [email protected] or facebook.com/projectblackbook