Terms of use
1. Purpose
These terms of use govern access to the website Carnet de Séance and the use of its content. Browsing the site means accepting the terms in force on the day of the visit.
2. Access to the site
The site is free to access, with no registration. The publisher strives to keep it available but does not guarantee it: the site may be interrupted for maintenance, updates or technical incidents, without notice or compensation.
3. Nature of the content
The site publishes two types of content:
- stock analyses, which set out facts and then the author’s view on a listed company (positive, neutral, negative or no rating), over a stated horizon;
- trends, which describe the movement of a market or sector.
This content is general information intended for a broad audience. It takes no account of the financial situation, objectives, experience or risk tolerance of any particular reader. It is not personalised investment advice, a solicitation, an offer to buy or sell, or a recommendation suited to your situation.
The publisher does not answer any request for personalised advice, in any form (email, social media, private message).
Some content is prepared with the help of an artificial intelligence tool from the sources cited. Each article states whether it was reviewed and approved by the author before publication.
4. User responsibility
Any investment decision is made by the user, under their sole responsibility. Before investing, it is up to them to check the information against official sources (company announcements and reports, regulator notices) and, if necessary, to consult an authorised professional. In France, lists of authorised intermediaries are available from the AMF, the ACPR (REGAFI register) and ORIAS.
Users undertake not to use the site unlawfully, in particular to spread false information about an issuer or to try to influence a share price.
5. Accuracy and limits of the information
Analyses are based on public information, dated and cited at the end of each article. The publisher takes reasonable care in selecting and reporting it, but cannot guarantee that it is accurate, complete or up to date. Any prices and data mentioned are indicative and may be delayed.
An analysis is valid on its publication date. It is not updated continuously; a view may change in a later analysis, which says so. The full history of published ratings is available on the Ratings history page.
6. Publisher’s liability
To the extent permitted by law, the publisher cannot be held liable for any direct or indirect loss resulting from the use of the site’s content or from an investment decision based on it, nor for the site being unavailable. This limitation does not apply in the event of gross negligence or wilful misconduct by the publisher.
7. Conflicts of interest
The author may hold shares in companies covered. Any position is disclosed in the article concerned, and the current list appears on the Methodology and conflicts of interest page, together with the rules the author follows (blackout period, no payment from the companies covered).
8. Intellectual property
The site’s content is protected. Any full or substantial reproduction or redistribution, in particular for commercial purposes or by automated extraction, is prohibited without written permission. Short quotations are allowed, provided the source is credited and linked to the article. Photographs remain subject to their author’s licence.
9. Links
The site links to external sources so that information can be checked. The publisher has no control over these sites and is not responsible for their content. A link implies neither endorsement nor partnership. Links to the site are free, without framing and without any presentation suggesting an affiliation.
10. Personal data
The processing of personal data is described in the Privacy policy and on the Cookies page.
11. Reports and complaints
Any report or complaint can be sent to [email to be completed]. The publisher replies within a reasonable time.
12. Changes to the terms
The publisher may change these terms at any time. The applicable version is the one published on the site on the day of the visit.
13. Governing law
These terms are governed by French law. In the event of a dispute, an amicable solution will be sought first. Failing that, the competent French courts under ordinary rules may be seized.
This English text is a translation provided for convenience. The French version prevails in case of discrepancy.
Last updated: November 10, 2026.