The standstill · Effective September 20, 2026

The CREI standstill.

This is a statement of position, kept on its own page so it can be cited directly. It is dated because the date is its purpose.

The commitments

In effect while CREI is dormant.

Five commitments govern CREI until its founder's full-time commitment to CREI begins.

  1. 01
    No securities, no investments

    CREI holds no securities and makes no investments.

  2. 02
    Public data only

    CREI's inputs are public data only.

  3. 03
    No publication

    CREI publishes nothing.

  4. 04
    Timestamped and resolution-dated

    Every entry in the model is timestamped, and its resolution date is fixed before the outcome is known.

  5. 05
    Cooling-off periods

    CREI will observe cooling-off periods before taking any position in a company with which its founder has had a prior commercial relationship: twelve months generally; twenty-four months where the relationship was direct and personal; and indefinitely with respect to any specific non-public fact until that fact is public or immaterial.

When it lifts

CREI begins when its founder's full-time commitment to CREI begins.

Until then, the commitments above hold in full.

Dated September 20, 2026.