Conversion to Free Site

Over the past several months I've discovered that the chief benefit of this site is not member subscriptions, but the opportunity to write about companies and business strategy. This writing has helped me learn and apply important strategic concepts. For this reason I'm converting to a completely free site. Today I refunded, through, the most recent monthly membership charges, and canceled all current memberships.

Because of liability considerations, and because I've removed the site's member paywall, I've deleted any articles or spreadsheets that discuss the value of a particular company. I've also removed some of the language in the Concepts page discussing stock valuation. To cover past conduct I've kept membership and credit card references in the Terms of Use and Privacy pages, even though the site will be free going forward.