The hottest Finance Substack posts right now

And their main takeaways
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Top Finance Topics

November 2025 Erdmann Housing Tracker

Erdmann Housing Tracker • 21 implied HN points • 18 Dec 25
💰 Finance Housing Real Estate Inflation Monetary Policy Macroeconomics Consumer prices
  1. Multiple inflation measures — shelter CPI (which is lagged), Zillow’s rent estimate, core CPI, goods, and services — are all converging toward about 2%.
  2. Rent inflation functions largely as a transfer rather than a production cost, so it probably shouldn’t drive monetary policy and could be excluded from policy price indexes.
  3. With shelter removed, inflation sits near 2%, but tariffs have pushed goods prices up, suggesting the true neutral target may be a bit higher and there’s room for slightly more stimulative policy.

Top Links 586 Choices for the dollar. France's bond market humiliation. Federal payrolls and attacks on the Kosovo water works.

Chartbook • 343 implied HN points • 13 Dec 24
💰 Finance Economics Investing Market Trends Global Finance Public Policy
  1. The U.S. dollar has many different choices and options available, making it a complex topic.
  2. France recently faced difficulties in its bond market, which has caused concern.
  3. There have been notable occurrences involving federal payrolls and issues related to water services in Kosovo.

Top Links 549 Markets holding their breath. BBQ and shale productivity. Liberal academia & the Space Force.

Chartbook • 400 implied HN points • 02 Nov 24
💰 Finance Markets Economics Productivity Academic Space
  1. Markets seem to be very tense right now. People are watching closely for changes and updates.
  2. BBQ and shale productivity are highlighted as important topics. These areas are crucial in economic discussions.
  3. There's a mention of the intersection between liberal academia and the Space Force. This could spark interesting debates and insights.
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The Claude Financial Modeling Workshop: Build Your First Money Dashboard in 10 Minutes

The Product Channel By Sid Saladi • 13 implied HN points • 11 Jan 26
💰 Finance Personal Finance Budgeting Savings Debt Investing Retirement Financial Modeling
  1. Use Claude to build interactive financial dashboards in minutes, like an emergency fund runway and a subscription audit, with sliders to test different expense and savings scenarios.
  2. Use the 4-part prompt formula—give full context, declare controllable variables (sliders), ask Claude to show its step-by-step logic, and request clear visualizations—to get accurate, usable models.
  3. Leverage the ready-made toolkit of 50 templates to create practical financial tools (lifestyle inflation detectors, debt payoff optimizers, retirement gap finders, etc.) so you can build useful models instead of just reading about them.

Top Links 557 Inflation worries and the US bond market. Russian oil mega merger. Van Gogh & the art of dying.

Chartbook • 386 implied HN points • 11 Nov 24
💰 Finance Economics Investments Market Trends Bonds Oil
  1. Inflation concerns are becoming a big issue again for the US bond market. This can affect interest rates and borrowing costs for everyone.
  2. There is a significant merger happening in the Russian oil sector. This might change the landscape of oil supply and prices globally.
  3. Van Gogh's life and art are being explored in a new way, touching on themes of mortality and creativity. His work continues to inspire deep reflections on life and death.

Trust Me: Wise, Circle, Ripple Seek Charters, Master Account Access

Fintech Business Weekly • 118 implied HN points • 06 Jul 25
💰 Finance Cryptocurrency Banking Regulation Payments Fintech
  1. Many fintech companies like Wise, Circle, and Ripple are trying to get bank charters to simplify regulations and improve their operations. This will help them manage their assets without needing a third party.
  2. Obtaining a bank charter could allow these companies access to important payment systems, like those operated by the Federal Reserve. However, getting approval for this access is not guaranteed and can be complicated.
  3. Stripe has recently won approval for a special bank charter that lets it operate more independently as a payment processor. This gives it more control but does not allow it to hold customer deposits.

Five Decades Of Currency Rot: Lyn Alden

QTR’s Fringe Finance • 26 implied HN points • 05 Dec 25
💰 Finance Monetary Policy Fiscal policy Money Supply Inflation Fixed income Asset Valuation Cryptocurrency Precious metals Wealth Inequality
  1. Currency debasement is a long-running, multi-decade trend that accelerated after currencies were decoupled from gold, and it has generally boosted asset prices and favored people who own assets over those who rely mainly on labor.
  2. The real pain for savers comes from interest-adjusted debasement — when money supply grows faster than bond yields, bondholders lose purchasing power, as seen in the big debasement spikes around 2020–21.
  3. The era of steadily falling long-term interest rates is likely over, so debasement may continue but with a weaker tailwind for valuations; bonds may still lose value in real terms but not as rapidly, and investors should expect different relative performance across stocks, gold, crypto, and housing.

India Stumbles

Diane Francis • 479 implied HN points • 16 Feb 23
💰 Finance Investing Market Trends Corporate Governance Regulatory issues Economic Impact
  1. Gautam Adani, once the richest person in India, faced huge financial losses after allegations of stock market manipulation. His companies' value dropped by $123 billion, leading to skepticism among investors.
  2. The Adani scandal impacts not just him but also India's reputation and raises concerns about its stock market regulations. Political opposition is demanding investigations into his business practices.
  3. This situation highlights the problems caused by the use of offshore entities in business and the need for greater corporate transparency. It underscores the risk of financial crises affecting India's economic growth and stability.

Thinking about Writing Down your Investment?

SaaS Engineering • 137 implied HN points • 07 Jan 24
💰 Finance Investments Venture Capital Startups Valuation Capital Markets
  1. Understanding the difference between preferred and common stock is crucial for calculating holding values.
  2. Writing down investments only makes sense if a company's value decreases below the size of its liquidation preference relative to the investment.
  3. High valuations may not always benefit investors due to misaligned incentives, especially in scenarios where the company's valuation is higher than its true worth.

Top Links 628 Will IPOs recover? Worrying about France. The chances of a new pandemic & atomic spaghetti.

Chartbook • 286 implied HN points • 24 Jan 25
💰 Finance Investing Markets Economics IPOs Pandemics
  1. IPOs have been quiet even though US stocks are doing well. This surprises some people.
  2. There's a concern about France and its current issues. People are paying attention to what could happen next.
  3. Discussions about new pandemics and food safety are becoming important. It's a reminder that we need to stay informed and be cautious.

Think of It as Generating Our "Investment Surplus", Not as Our "Trade Deficit"

Brad DeLong's Grasping Reality • 146 implied HN points • 04 Jun 25
💰 Finance Economic Policy Global Trade Investment Analysis Financial Stability
  1. Think of the trade deficit as an investment surplus instead. This way, we can see the benefits of foreign investments in the U.S. economy.
  2. A current-account trade deficit actually reflects an investment surplus by nature. This means that money from foreign exports is being used to buy U.S. assets, which can help keep interest rates low.
  3. While there are some costs linked to trade deficits, such as job losses in certain sectors, it's also important to recognize that investments can lead to new technology and greater economic strength in the long run.

Top Links 616 Global corporate debt surge. Chicago's fiscal blues. Depoliticizing the railways of the Raj.

Chartbook • 300 implied HN points • 12 Jan 25
💰 Finance Corporate Debt Market Trends Economic Policy Global Finance Investment Strategies
  1. Global corporate debt is rising sharply, which might affect the economy. This shows companies are borrowing a lot more money than before.
  2. Chicago is facing serious financial problems. The city's budget issues could impact its services and operations.
  3. There is a movement to make the railways in India less political. This could help improve efficiency and service for train travelers.

Chase Strikes First With Open Banking Blitzkrieg That Could Upend US Fintech Ecosystem

Fintech Business Weekly • 111 implied HN points • 13 Jul 25
💰 Finance Banking Fintech Regulation Data Privacy Market Trends
  1. Chase's new fees for data access could make it very expensive for fintech companies to use banking data, which could harm their business models.
  2. If fintechs have to pay more for banking data, they might charge customers higher fees or go back to slower, less secure methods of getting data.
  3. Changes in the cost of accessing banking data could affect how well fintechs serve customers, especially those with lower incomes who need affordable options.

Limbo

QTR’s Fringe Finance • 39 implied HN points • 06 Nov 25
💰 Finance Market Trends Economic Analysis Job Market Housing Market Investment Strategies
  1. Volatility is common in later stages of a market. Expect wild changes in market prices as things shift.
  2. Job cuts are increasing, showing a potential economic downturn. Many big companies are laying off workers due to various pressures.
  3. The housing market is cooling off with more sellers than buyers. This imbalance suggests that home prices may start to fall soon.

Challenge Orthodoxy

Who is Robert Malone • 23 implied HN points • 10 Dec 25
💰 Finance Personal Finance Housing Mortgages Consumer Debt Wealth Building
  1. The subscription-based economy is spreading into almost every industry, creating recurring costs that can stop people from owning things and building equity.
  2. Very long mortgages like 50-year loans push most payments toward interest for decades, so buying can feel like renting and leaves homeowners stuck with long-term liabilities.
  3. Building wealth means reducing dependence on subscriptions and long-term high-interest loans, owning assets outright when possible, paying down debt quickly, and keeping your own backups for important data.

What Exactly Is Venture Capital?

Concepts of Finance 🧠 • 279 implied HN points • 15 Aug 23
💰 Finance Investment Startups Private Equity Risk management Economic Trends
  1. Venture capital is a type of funding provided to early-stage companies that have high growth potential. It's different from private equity, which usually invests in more mature companies.
  2. Many startups need venture capital to expand, but it's not the main way new businesses get funding. A lot of startups rely on personal savings or small loans instead.
  3. There are common myths about venture capitalists, such as their wealth or ability to innovate. In reality, not all VCs are rich and many investments don't yield huge returns.

More funny charts

Erdmann Housing Tracker • 105 implied HN points • 28 Jul 25
💰 Finance Housing Market Economic Analysis Investment Trends Data Visualization Real Estate
  1. Home inventory and homes for sale have shown confusing trends recently. While they usually move together, they've started to go in opposite directions, raising questions about the current housing market.
  2. Low interest rates don't always mean more homeownership. In fact, homeownership actually decreased during a period of very low rates, suggesting that other factors are more important.
  3. The idea that job opportunities are the only reason for high home prices in certain cities isn't entirely true. In fact, as some cities shrink, home prices in other areas can actually rise, showing a more complex relationship.

Fannie Mae Multi-Family Delinquency Rate Highest Since Housing Bust (ex-pandemic)

CalculatedRisk Newsletter • 28 implied HN points • 28 Nov 25
💰 Finance Real Estate Housing Market Mortgage Rates Economic Indicators
  1. The serious delinquency rates for single-family homes by Fannie Mae and Freddie Mac have been mostly stable lately. Both rates are below pre-pandemic levels but have increased slightly from last year.
  2. Fannie Mae's multi-family delinquency rate has reached its highest point since the last housing crash, signaling potential struggles in that sector.
  3. Mortgages that are overdue by three months or more are counted as delinquent, and loans from before the financial crisis still show some ongoing issues.

Tariff design and LCOE

Jérôme à Paris • 267 implied HN points • 10 Feb 25
💰 Finance Market design Investment strategy Risk Assessment
  1. Contracts for Difference (CfDs) let wind projects offer lower prices compared to Corporate Power Purchase Agreements (PPAs). This is because CfDs reduce the perceived risk for lenders.
  2. Merchant projects that sell directly on the spot market are risky and harder to finance. Investors need to bet on high and unstable prices to make profits, which might not always work out.
  3. Using CfDs provides more price stability for consumers compared to relying solely on PPAs. This helps ensure lower and more predictable electricity costs over time.

Top Links 559 Will there be dollar-renminbi dramas in garbage time? Central bank independence in SE Asia & Sartre, Anderson, Jameson.

Chartbook • 371 implied HN points • 13 Nov 24
💰 Finance Global Markets Economics Central Banking Currency Exchange Financial Policy
  1. There could be important developments regarding the dollar and renminbi exchange rates in the near future. This might affect global economics significantly.
  2. The independence of central banks in Southeast Asia is a key topic worth watching. Their decisions can impact regional economies and policies.
  3. The work and ideas of philosophers like Sartre, Anderson, and Jameson are still relevant today. They offer interesting perspectives that connect to current issues.

Economic Calendar for the Week of August 3rd, 2025

Alex's Personal Blog • 98 implied HN points • 04 Aug 25
💰 Finance Economic Trends Market Analysis Global Economics Debt Management
  1. This week has several important earnings reports from companies like Coca-Cola and McDonald’s. These reports can affect the stock market and investor sentiment.
  2. Many economic events are scheduled for the week, including jobless claims and inflation rates in various countries. These indicators will help us understand the global economic situation.
  3. Keeping an eye on vehicle sales and household debt in the U.S. is crucial. These statistics give insights into consumer behavior and the overall health of the economy.

Daily Chartbook #168

Daily Chartbook • 1572 implied HN points • 25 Mar 23
💰 Finance Markets Investing Economy Stocks Bonds
  1. The Biden administration planned to refill the Strategic Petroleum Reserves at lower oil prices but hasn't yet.
  2. For-hire truck tonnage has been increasing consistently for the last three months.
  3. There is concern over a foreign central bank maxing out the FIMA repo, not covered by FX swap lines.

Q3 NY Fed Report: Mortgage Originations by Credit Score, Foreclosures Increase Slightly

CalculatedRisk Newsletter • 38 implied HN points • 05 Nov 25
💰 Finance Credit Scores Economic Indicators Foreclosures
  1. Mortgage originations are mainly going to people with high credit scores, showing stricter lending standards now compared to the past.
  2. There has been a slight increase in people falling behind on their mortgage payments, which is something to keep a close eye on.
  3. Foreclosures are still low overall, but they've seen a small rise likely due to the end of some temporary protections.

NUMERI ASTRONOMICI

ANDREA CECCHI Newsletter • 216 implied HN points • 12 Oct 23
💰 Finance Economics Debt Inflation Government
  1. Debt levels in America are rapidly increasing, with the first trillion taking 185 years and next trillion completed in just 6 months.
  2. Inflation can silently grow over time, culminating in a sudden and severe loss when it's too late, as seen in the case of Zimbabwe.
  3. The USA is dealing with unbelievably large numbers, including trillions and quadrillions, due to factors like derivatives.

Top Links 537 TIGER indices looking grim. South Sudan's misery. The 1990s revisited and Soldier's Paradise.

Chartbook • 400 implied HN points • 21 Oct 24
💰 Finance Economic Policy Global Markets Data Analysis International relations
  1. The TIGER indices are showing a negative trend, indicating economic challenges ahead. This suggests that global economic recovery may be slower than expected.
  2. South Sudan is facing significant difficulties, highlighting ongoing humanitarian issues. These problems need urgent attention to improve the situation for its people.
  3. There are connections being made to the 1990s, suggesting that some current geopolitical situations may resemble past conflicts. This raises concerns about the repetition of history in today's world.

Credit Crash In AI Names

QTR’s Fringe Finance • 37 implied HN points • 08 Nov 25
💰 Finance Investment Markets Economics Stocks Credit
  1. Credit markets are starting to reveal truths about companies that the stock market has been ignoring. This means that financial realities are becoming clearer.
  2. Companies like Nvidia, OpenAI, Microsoft, and CoreWeave are linked through investments and agreements. This creates a situation where they rely on each other too much.
  3. When companies have too many intertwined relationships, it can be risky. If one company struggles, it can create problems for the others in the network.

Index funds: everything you need to know

Concepts of Finance 🧠 • 199 implied HN points • 27 Oct 23
💰 Finance Investing Market Analysis Portfolio Management Financial Education Economics
  1. Index funds are a way to invest in a group of stocks without having to pick individual ones. They are designed to follow a certain market index, making them a good choice for beginners.
  2. Investing in index funds usually costs less than actively managed funds, and they are less volatile over time. This means they can offer a safer investment option with decent returns.
  3. Index funds can be bought easily through brokerage accounts, and they often have low barriers to entry. This makes them accessible for everyday investors looking to grow their money.

Binance in Crisis: Senior Execs Quit Over CEO's Response to DOJ Investigation

Daily Digest • 216 implied HN points • 07 Jul 23
💰 Finance Cryptocurrency Regulation Market Updates Investigation Technology
  1. Binance is facing a leadership crisis with senior executives quitting over the CEO's response to a DOJ investigation.
  2. Bitcoin has survived its longest bear market ever, showing resilience by exiting the bear market in early January.
  3. Litecoin has become the most used cryptocurrency on BitPay, surpassing Bitcoin due to its low fees and fast transaction times.

regulation is the scientist, supervision is the monster

Dan Davies - "Back of Mind" • 216 implied HN points • 17 Mar 23
💰 Finance Regulation Banking System Government regulations
  1. Regulation and supervision are technically different in banking: one is the rulebook, the other enforces it.
  2. There's a consensus that the Silicon Valley Bank failure was more due to poor supervision than regulation.
  3. Regulations in banking not only set limits, but also serve as a form of supervision through reporting requirements.

CBDCs and Future Black Markets

BowTiedMara - Geoarbitrage & Mobility Assets • 216 implied HN points • 16 Mar 23
💰 Finance Cryptocurrency Government Regulation Economic Implications
  1. Central Bank Digital Currencies (CBDCs) are becoming inevitable in a cashless society.
  2. Privacy options in a cashless society are diminishing, leading to the potential rise of 'Freedom markets' for private transactions.
  3. In a CBDC world, alternative options like Monero, traditional coins like gold, and potential crackdowns on onramps and offramps need to be considered for financial resiliency.