Skip to content
macronotes.com
AboutTerminalBack to Macro Notes ↗
Menu ☰
AboutTerminalBack to Macro Notes ↗Members login
Macro Notes · Legal

Privacy Policy

How Macro Notes handles personal information, the platforms we use, and the choices available to you.

Last updated: 17 October 2026
PrivacyTerms & Legal Notice
On this page
Who is responsible for your dataInformation we receiveWhy we use informationPlatforms and recipientsCookies, local storage and email trackingInternational processingHow long information is keptYour choices and rightsSecurity and automated decisionsChanges to this notice

Who is responsible for your data

ALTIS RESEARCH LTD is responsible for personal data it uses to operate Macro Notes and manage its relationship with readers and business contacts. We are registered in England and Wales, company number 16971024, with our registered office at 124–128 City Road, London, England, EC1V 2NX, United Kingdom.

For privacy questions or requests, email pierre@macronotes.com or write to our registered office. This notice covers macronotes.com and our handling of Macro Notes reader, membership and business correspondence. Other publications and platforms can also have their own notices.

Information we receive

  • Information you provide: your email address, name if supplied, messages, feedback, subscription enquiries and business contact details.
  • Newsletter and membership information: subscription status, plan, preferences, payment or transaction status and, where made available by the newsletter platform, reading and engagement information such as opens and link clicks. Email tracking is not always accurate.
  • Technical information: hosting and delivery providers may process IP addresses, browser and device information, requested pages and security logs when serving the website.

Information comes from you, your interactions with our publications and the platforms used to provide your subscription. We do not need your brokerage credentials, investment account access or personal portfolio to provide our general research. Please avoid sending sensitive financial or identity information in ordinary email.

This website currently directs you to external subscription pages rather than collecting subscription or payment details in an on-site form. Payment details are entered with the relevant checkout provider.

Why we use information

We use personal information to deliver the newsletter and membership you request, activate access, respond to messages, administer payments and keep necessary records. The applicable basis is performance of our contract with you or steps you request before subscribing.

We rely on legitimate interests to handle general enquiries, maintain and secure the website, prevent misuse, understand readership and improve our research. Those interests are operating a reliable publication and maintaining reader and business relationships, balanced against your rights.

Where consent is required for newsletters, marketing or optional tracking, we rely on that consent. You can withdraw it at any time without affecting earlier lawful processing. We also process information to meet legal obligations, including accounting and tax requirements.

You can browse this website without providing your name or email. An email address is needed to deliver a newsletter; information required for a paid subscription is identified by its checkout. Without required details, the relevant service may not be available.

Platforms and recipients

We use service providers for website hosting and delivery, email, newsletter distribution, subscription administration and payment processing. Information is shared only as needed for the relevant purpose, including with professional advisers or authorities where legally required.

  • Substack: linked newsletter pages, subscription accounts, delivery and platform engagement features. Substack also processes data for its own platform purposes. See Substack’s Privacy Policy ↗.
  • Payment providers: where a linked checkout uses Stripe, payment information is handled through that checkout. See Stripe’s Privacy Policy ↗.
  • Website infrastructure: hosting and content delivery providers process technical information necessary to serve and protect this website.
  • Google Fonts: the website loads typefaces from Google’s font services, which receive technical request information such as your IP address and browser details. See Google Fonts privacy information ↗.

We do not sell our reader mailing list to sponsors. If you follow an advertiser’s link or provide information on its website, that organisation’s privacy notice applies. For a membership that includes another publication, any information needed for activation is limited to that purpose and the access you request.

Cookies, local storage and email tracking

The current macronotes.com pages do not set first-party analytics or advertising cookies or use local storage to track visitors. Website infrastructure may process technical information for delivery and security. External fonts make requests to Google as described above.

Substack, linked platforms and payment pages have their own cookies and privacy controls. Newsletter emails may use the distribution platform’s open and click measurement features. Their practices are described in their notices. You can control cookies in your browser and limit remote-image loading in your email client; blocking these features can affect functionality or measurement.

If we introduce optional cookies or similar technologies that require consent, we will provide the relevant information and a consent choice before activating them. Merely visiting this website is not treated as consent to optional tracking.

International processing

Service providers may process information in the United Kingdom, European Economic Area, United States or other countries. For transfers for which we are responsible, applicable data protection requirements must be met through a recognised adequacy decision or appropriate contractual safeguards, such as approved standard contractual clauses and the relevant UK transfer provisions, as appropriate. You can contact us for information about the safeguards applicable to your data.

Platforms acting independently explain their own international processing and safeguards in their privacy notices.

How long information is kept

We keep information for the period needed for the purpose for which it was collected. Subscriber and access records are retained while needed to provide and administer the subscription; correspondence while needed to resolve the enquiry and maintain relevant business records. Accounting and transaction records are kept for applicable statutory periods.

Retention also takes account of unresolved disputes, security needs and legal obligations. A minimal suppression record may be retained to honour an unsubscribe request. Information is deleted or anonymised when it is no longer needed. Independent platforms apply their own retention rules to data they control.

Your choices and rights

You can object at any time to the use of your personal information for direct marketing. Use the unsubscribe link in a newsletter or email pierre@macronotes.com. Unsubscribing from marketing does not itself cancel a paid subscription; manage billing through your subscription account or contact us for help.

Depending on the applicable law and the processing involved, you can request access, correction, deletion, restriction or portability of your information, object to processing based on legitimate interests, and withdraw consent. Some information may need to be retained for legal reasons.

Contact us using the details above. We may need proportionate information to verify your identity and will respond within the applicable legal time limit, normally one month. If your request concerns data controlled independently by Substack or another platform, you can also contact that platform directly.

You may complain to the UK Information Commissioner’s Office at ico.org.uk/make-a-complaint/ ↗, or to the data protection authority in your country of residence where applicable. You do not have to contact us first.

Security and automated decisions

We use reasonable measures to protect information, but no website or email service can guarantee complete security. Do not send passwords or full payment card details by email.

We do not use this website to make decisions about you based solely on automated processing that produce legal or similarly significant effects.

Changes to this notice

We will update this notice when our practices change and show the revised date above. Where required, we will provide additional notice or request consent. For questions, contact pierre@macronotes.com.

macronotes.com

Macro Notes is operated by ALTIS RESEARCH LTD, an independent equity research firm and publisher registered in England and Wales.

AboutMembers loginTerminalResearchThe newsletterPartner with usContactPrivacyTerms

Research, not personalised investment advice. Our publications and discussions provide general research and information only. They do not take account of your financial circumstances, objectives or risk tolerance and do not constitute a personal recommendation to buy, sell or hold any investment. Investing involves risk, including the loss of capital. Past performance is not a reliable indicator of future results. Read the full disclaimer.

© 2026 ALTIS RESEARCH LTD. All rights reserved.Company no. 16971024 · Registered office: 124–128 City Road, London, England, EC1V 2NX