Heritage Capital Research (HCR) is an independent, privately owned investment research firm. 

The opinions and forecasts expressed are those of David Moenning, Founder and Chief Investment Officer of HCR and may not actually come to pass. Mr. Moenning’s opinions and viewpoints regarding the future of the markets should not be construed as recommendations of any specific security or investment  management program.

HCR is not registered as a broker-dealer. David Moenning, the founder of HCR, is an investment adviser representative of Heritage Capital, LLC.

No part of this material is intended as an investment recommendation. Neither the information nor any opinion expressed constitutes a solicitation to purchase or sell securities or any investment management programs. Do NOT ever purchase any security without doing sufficient research. There is no guarantee that investment objectives outlined will actually come to pass. Investors should consult an Investment Professional before investing in any investment program.

Neither Mr. Moenning, Heritage Capital LLC or HCR nor any of their employees shall have any liability for any loss sustained by anyone who has relied on the information contained herein. Mr. Moenning and employees of HCR may at times have positions in the securities referred to and may make purchases or sales of these securities while this publication is in circulation, without notice. The analysis contained is based on both technical and fundamental research. Although the information contained is derived from sources which are believed to be reliable, they cannot be guaranteed.

The data contained on our website is provided “as is” and without warranty of any kind, either expressed or implied. Although the information contained is derived from sources which are believed to be reliable, they cannot be guaranteed. HCR, employees, or any third party data provider shall not have any liability for any loss sustained by persons relying on the information contained herein or in any HCR publication.

Securities and other investments held in investment advisory accounts at Heritage Capital LLC are not guaranteed and are subject to investment risk, including possible loss of principal invested.  Past performance may not be indicative of future results. No current or prospective client should assume that future performance of any specific investment, investment strategy recommended will be profitable or equal to prior performance levels.