Copyright 2024, BCA Research Inc. All rights reserved.
The text, images and other materials contained or displayed on any BCA Research Inc. product, service, report, e-mail or web site are proprietary to BCA Research Inc. and constitute valuable intellectual property. No material from any part of any BCA Research Inc. web site may be downloaded, transmitted, broadcast, transferred, assigned, reproduced or in any other way used or otherwise disseminated in any form to any person or entity, without the explicit written consent of BCA Research Inc. All unauthorized reproduction or other use of material from BCA Research Inc. shall be deemed willful infringement(s) of BCA Research Inc. copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. BCA Research Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. BCA Research Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights.
Downloaded data should only be accessed by the identified Users who are named, licensed and allowed by BCA Research Inc. to use the data. Any access by or transfer to people not specifically licensed by BCA shall be deemed infringement of BCA Research Inc. copyright and other proprietary and intellectual property rights.
When the contractual relationship with Subscriber has ended, whether at its term or in case of early termination, all data obtained by Subscriber and its authorized Users shall be destroyed and permanently deleted from any record in any computer database, memory device, or cloud storage service (electronic or otherwise), and Subscriber will certify in writing by providing a written statement, signed by an authorized signatory, to BCA Research Inc. confirming that all such data has been destroyed and permanently deleted.
Non-residents of Canada confirm that they do not, and have never had the right to use any of BCA Research Inc.’s materials in Canada, and agree that they have not and never will use any of the materials in Canada unless they acquire this right by paying the applicable Canadian and Quebec sales taxes. All unauthorized use of the materials in Canada shall be deemed willful infringement of BCA Research Inc. copyright and other proprietary and intellectual property rights.
While BCA will use its reasonable best efforts to provide accurate and informative Information Services to Subscriber, BCA cannot guarantee the accuracy, relevance and/or completeness of the Information Services, or other information used in connection therewith. BCA, its affiliates, shareholders, directors, officers, and employees shall have no liability, contingent or otherwise, for any claims or damages arising in connection with (i) the use by Subscriber of the Information Services and/or (ii) any errors, omissions or inaccuracies in the Information Services. The Information Services are provided for the benefit of the Subscriber. It is not to be used or otherwise relied on by any other person.
Some of the data contained in this publication may have been obtained from Bloomberg Barclays Indices; Bloomberg Finance L.P.; CBRE Inc.; CEIC data; First Bridge Data LLC; Copyright © 2024, IHS Markit; MSCI Inc. Neither MSCI Inc. nor any other party involved in or related to compiling, computing or creating the MSCI Inc. data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI Inc., any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI Inc. data is permitted without MSCI Inc.’s express written consent. Real Capital Analytics Inc.; Reis Services LLC; Copyright © 2024, S&P Global Market Intelligence (and its affiliates as applicable). Reproduction of any information, opinions, views, data or material, including ratings (“Content”) in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers (“Content Providers”) do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content. A reference to a particular investment or security, a rating or any observation concerning an investment that is part of the Content is not a recommendation to buy, sell or hold such investment or security, does not address the suitability of an investment or security and should not be relied on as investment advice. Credit ratings are statements of opinions and are not statements of fact; Standard and Poor’s (“S&P”) Copyright © 2024 The McGraw-Hill Companies, Inc., S&P is a division of The McGraw-Hill Companies Inc. All rights reserved; or from Refinitiv “Refinitiv and the Refinitiv logo are trademarks of Refinitiv and its affiliated companies.” In addition to the foregoing, Client shall display or print the following notice in the Help About section or in a general attribution page. “Copyright © Refinitiv, 2024. All Rights Reserved. Use, duplication, or sale of this service, or data contained herein, except as described in the BCA Research products subscription agreement, is strictly prohibited.”
Important Disclaimer
This communication reflects our analysts' current opinions and may not be updated as views or information change. Past results do not guarantee future performance. Business and market conditions, laws, regulations, and other factors affecting performance all change over time, which could change the status of the information in this publication. Using any graph, chart, formula, model, or other device to assist in making investment decisions presents many difficulties and their effectiveness has significant limitations, including that prior patterns may not repeat themselves and market participants using such devices can impact the market in a way that changes their effectiveness. BCA Research believes no individual graph, chart, formula, model, or other device should be used as the sole basis for any investment decision.
BCA or its affiliated companies or their respective shareholders, directors, officers and/or employees, may have long or short positions in the securities discussed herein and may purchase or sell such securities without notice. Neither BCA Research nor the author is rendering investment, tax, or legal advice, nor offering individualized advice tailored to any specific portfolio or to any individual's particular suitability or needs. Investors should seek professional investment, tax, legal, and accounting advice prior to making investment decisions. BCA Research's publications do not constitute an offer to sell any security, nor a solicitation of an offer to buy any security. They are designed to provide information, data and analysis believed to be accurate, but they are not guaranteed and are provided "as is" without warranty of any kind, either express or implied. BCA RESEARCH DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.
BCA Research, its affiliates, officers, or employees, and any third-party data provider shall not have any liability for any loss sustained by anyone who has relied on the information contained in any BCA Research publication, and they shall not be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information or opinions contained BCA Research publications even if advised of the possibility of such damages.
Important copyright and other information are available here: https://www.refinitiv.com/en/policies/third-party-provider-terms.