The hottest Finance Substack posts right now

And their main takeaways
Category
Top Finance Topics

My Portfolio Breakdown

Spilled Coffee • 72 implied HN points • 20 Dec 24
💰 Finance Investing Stocks Portfolio Market Trends Economic Indicators
  1. The author's portfolio has increased by 52.10% in 2024, showing strong performance. It's great to see a significant growth in investments like this.
  2. For 2024, this might be the sixth time in eight years that the portfolio has outperformed the S&P 500. It indicates a consistent strategy that works well over time.
  3. The author is sharing the current portfolio details exclusively with paid subscribers. It's a way to provide more in-depth insights for those who are more engaged.

Lending Protocol Taxonomy, part 2: Interest Rates

David’s Substack • 39 implied HN points • 16 Nov 23
💰 Finance Interest Rates Pricing Auctions
  1. Interest rates in lending protocols are usually quoted as annualized percentage rate (APR) or yield (APY).
  2. Different pricing mechanisms in lending protocols include orderbook pricing, utilization-based pricing, auctions, and manual/governance-led pricing.
  3. Protocols like Ajna and Tazz introduce innovative ways to set interest rates without relying on oracles, enabling unique functionalities.

The $175.3 Trillion Doomsday Clock Is Ticking – That Is The Estimated Unfunded Social Security And Medicare Liability

OpenTheBooks Substack • 170 implied HN points • 04 Mar 24
💰 Finance Government spending Social Security Medicare
  1. The estimated unfunded Social Security and Medicare liability is a staggering $175.3 trillion, which is a major financial crisis threatening the future.
  2. The funding gap for Social Security and Medicare over the next 75 years is projected to be $78.3 trillion, leading to potential options like increased borrowing, higher taxes, or reduced benefits.
  3. The $175.3 trillion gap is a result of a lack of significant reforms in recent decades, with the projection showing significant challenges with Medicare Part B, Social Security, and other programs in the future.

Goldman's Mid-Year Housing Outlook

CalculatedRisk Newsletter • 23 implied HN points • 21 Jul 25
💰 Finance Housing Market Mortgage Rates Real Estate Economic Forecast Home Prices
  1. High mortgage rates are keeping many homeowners from selling their homes, resulting in low existing home sales. People are reluctant to move because they don't want to lose their lower mortgage rates.
  2. The construction of new single-family homes is also expected to decline due to lower demand and increased competition from existing homes on the market.
  3. Home prices are likely to rise very slowly or remain stable over the next year, with some forecasts suggesting slight declines in prices due to rising inventory.
Get a weekly roundup of the best Substack posts, by hacker news affinity:

Part 1: Current State of the Housing Market; Overview for mid-August 2025

CalculatedRisk Newsletter • 19 implied HN points • 14 Aug 25
💰 Finance Real Estate Investing Market Trends Economic Indicators Housing
  1. The housing market has seen a big increase in inventory this year, with listings up 24.8% compared to last year. This means buyers have more options now.
  2. Sales of existing homes are down slightly, creating pressure on prices, but there won't be a massive increase in distressed sales.
  3. New homebuilders are facing challenges with many unsold homes and are lowering prices to compete with the existing inventory.

causing prosperity

bad cattitude • 165 implied HN points • 07 Mar 24
💰 Finance Economics Wealth Poverty Income Inequality Redistribution
  1. Welfare states are not charity; they can lead to poverty traps
  2. To create prosperity, we need pillars like property rights, scientific rationalism, modern capital markets, and effective communication systems
  3. Redistribution of wealth to alleviate poverty can actually increase absolute poverty, impacting economic growth and overall wealth

Personal Finance for Tech 101 [Finance Fridays]

Technology Made Simple • 79 implied HN points • 26 Nov 22
💰 Finance Personal Finance Investing Debt Management Financial planning
  1. Have an Emergency Fund: Save 6-12 months of expenses to prepare for unexpected layoffs without selling investments.
  2. Pay off Debt: Prioritize paying high-interest debt to prevent it from draining your finances over time.
  3. Allocate Finances Wisely: Follow the 50-30-20 rule to budget your income for expenses, investments, and savings, ensuring a balanced financial plan.

What Company Earnings Calls Should Be About (But Are Not)

Behavioral Value Investor • 193 implied HN points • 08 Jan 24
💰 Finance Investing Earnings Calls Long term Management Capital allocation
  1. Over 50% of an earnings call focuses on short-term demand trends, which is not helpful for long-term investors.
  2. Earnings calls should address long-term value, competitive environment changes, and management's strategies for improving competitive advantage.
  3. Investors and CEOs should prioritize questions that affect the business's value in the long term, rather than short-term fluctuations.

Why Tech and Crypto Stocks are so extreme [Finance Fridays]

Technology Made Simple • 119 implied HN points • 22 Jul 22
💰 Finance Tech Stocks Venture Capital Investing
  1. Blitzscaling in tech leads to high valuations and rapid growth without immediate profitability, creating potential for massive crashes when unsustainable models are exposed.
  2. Tech companies often lack clear paths to profitability, growing on funding alone. When market conditions shift, these companies can implode quickly, impacting investors.
  3. Investing in tech involves a game of passing the hot potato, where VCs aim for profitable exits even if the invested companies are unsustainable. This dynamic can lead to losses for unsuspecting retail investors.

5D Money (Part 1)

Altered States of Monetary Consciousness • 226 implied HN points • 16 Oct 23
💰 Finance Money Economics Philosophy
  1. The world is primarily driven by emotions, politics, and economic situations rather than just intellectual ideas.
  2. Under large-scale capitalism, some assumptions about money are presented as self-evident and unquestioned.
  3. Money is ingrained in our minds from a young age, leading to dissociation and acceptance of certain monetary models.

Economic Calendar for the Week of January 05, 2025

Alex's Personal Blog • 65 implied HN points • 06 Jan 25
💰 Finance Economic Events Market Analysis Investment strategy Global Trade Earnings Reports
  1. This week has important economic events like PMI reports and jobless claims that could affect the market.
  2. Major companies will be reporting their earnings, which could give insight into their financial health.
  3. There are both U.S. and global economic indicators to watch, including inflation rates and consumer confidence.

Housing Starts Decreased to 1.256 million Annual Rate in May

CalculatedRisk Newsletter • 28 implied HN points • 18 Jun 25
💰 Finance Housing Economics Real Estate Investment Market Trends
  1. Housing starts in May were lower than expected, at an annual rate of 1.256 million, which shows a decrease from both April and last year.
  2. Single-family housing starts went up slightly, but overall they are down from last year, while multi-family starts are doing better this year.
  3. Building permits also dropped a bit, indicating that new construction might slow down in the coming months.

Why more housing appears to make things worse

Erdmann Housing Tracker • 168 implied HN points • 01 Mar 24
💰 Finance Housing Market Supply Demand Economic Impact Urban Development
  1. About 30-40% of people don't believe increasing housing supply will lower prices or rents.
  2. In cities with limited housing supply, population growth can lead to decreased housing availability, impacting affordability.
  3. Cities that don't build enough housing can have negative impacts on low-income residents, forcing displacement and exacerbating housing affordability issues.

Question #8 for 2024: How much will Residential investment change in 2024? How about housing starts and new home sales in 2024?

CalculatedRisk Newsletter • 191 implied HN points • 03 Jan 24
💰 Finance Real Estate
  1. The post discusses questions about residential investment, housing starts, and new home sales in 2024.
  2. The author is planning to share insights and possibly predictions for each of these real estate aspects.
  3. Readers can access the full content with a 7-day free trial of the CalculatedRisk Newsletter.

Varo Struggles On As Founder Colin Walsh Steps Down As CEO

Fintech Business Weekly • 52 implied HN points • 16 Feb 25
💰 Finance Fintech Banking AI Investments Regulations
  1. Varo Bank is facing challenges as its founder and CEO Colin Walsh steps down. New CEO Gavin Michael has a tough job ahead with the company still not profitable.
  2. Despite some improvements in revenue and customer growth, Varo's net losses remain significant, with $65 million lost last year. It needs to boost its deposits and customer engagement.
  3. The financial regulatory landscape is changing with new appointments, including Jonathan McKernan resigning from the FDIC and being nominated to lead the CFPB. This could impact how financial services are managed going forward.

Top 5 financial posts of the trading week 8/2024

Global Markets Investor • 19 implied HN points • 26 Feb 24
💰 Finance Investing Market Trends Economic Indicators Stock Market Bonds
  1. Weekly performance update: Last week saw significant increases in major US indexes, VIX volatility, Bitcoin, and gold. Nvidia stood out with a 9% rise after surpassing earnings and guidance expectations.
  2. Nvidia's remarkable growth: Nvidia's market cap doubled to $2 trillion in just 8 months, making it the third largest US company. Its outstanding revenue forecast and stock performance pose a question about its future success.
  3. Chinese market support and US bank debts: Chinese authorities are propping up their stock market, while major US banks are facing challenges with bad property debt surpassing loss reserves. Keep an eye on US government bond yields and PCE inflation data for potential impacts on various markets.

Which profits matter most?

Klement on Investing • 2 implied HN points • 13 Jan 26
💰 Finance Investing Markets Corporate Finance Accounting Valuation Equities
  1. Operating profit (EBIT) is the main profit measure that moves share prices. Institutional investors also check net income to capture interest and other real costs.
  2. Gross profit or EBITDA is often presented as ‘profits before the bad stuff’ and can be misleading. Be wary of adjusted profit numbers that deviate from accounting standards.
  3. Which metric matters most depends on the market. In the US investors focus on profitability, while in the UK and Europe they pay more attention to past and future earnings growth because growth is scarcer there.

Late-Cycle Investment Theory: 10 Recent Snapshots

European Straits • 23 implied HN points • 05 Jul 25
💰 Finance Investments Economics Private Equity Market Dynamics Capital Markets
  1. AI is making existing systems more efficient, rather than creating something entirely new. It helps industries use technology better, especially in areas that used to resist software.
  2. The push for American manufacturing jobs struggles against economic realities. Even with a desire to bring back factories, the strong dollar and global pressures make it hard to compete with countries like China.
  3. Private equity is changing its approach by buying insurance companies. This newer strategy helps them secure stable funding, but it also concentrates risks and could lead to financial problems.

Daily Chartbook #401

Daily Chartbook • 157 implied HN points • 14 Mar 24
💰 Finance Charts
  1. The post is part of a Daily Chartbook subscription service.
  2. The content involves catching up on the day through 30 charts.
  3. Paid subscribers can access the full content of Daily Chartbook #401 on the website.

"Anonymous" Crypto Debit Card Startup Sues BaaS Platform, Ex-Evolve Partner Solid

Fintech Business Weekly • 66 implied HN points • 15 Dec 24
💰 Finance Banking Investing Fintech Fraud Capital
  1. Fraud and scams are becoming bigger issues for businesses compared to individuals. Companies need better tools to protect themselves from these threats.
  2. Many fintech companies are raising significant funding, which shows growth in the industry. Some are also getting ready for potential IPOs in the coming years.
  3. There's a legal battle between a crypto debit card company and its banking partner. It highlights the risks and challenges in the fintech sector, especially in compliance and service delivery.

The Fed Pours Jet Fuel On The Inequality Gap

QTR’s Fringe Finance • 22 implied HN points • 19 Jul 25
💰 Finance Monetary Policy Wealth Inequality Economic Growth Inflation Investing
  1. The monetary system is broken and helps wealthy people while hurting regular workers. It's designed to benefit the rich rather than the working class.
  2. Rising costs and stagnant wages are making it hard for people to trust capitalism. When central banks interfere too much, it creates problems like inflation and high prices.
  3. An interview with economist Steve Hanke explains how the Federal Reserve is making inequality worse. He believes both past and current leaders deserve criticism for their economic policies.

Money Market Update

Concoda • 151 implied HN points • 19 Mar 24
💰 Finance Market Update
  1. Bond volatility is decreasing while dollar liquidity remains strong, but future macro events will play a role in its sustainability
  2. Recent changes in the repo market are being discussed to understand how regulations will impact its structure and trades within it
  3. Stay informed with regular updates on money market situations and rates to track financial trends

Daily Chartbook #400

Daily Chartbook • 157 implied HN points • 13 Mar 24
💰 Finance Investing
  1. Daily Chartbook provides a daily summary of the market through 30 charts on their website.
  2. The post shared is for paid subscribers only, with an option to subscribe for access to more content.
  3. There is an opportunity to sign in as a paid subscriber for additional benefits and access to Daily Chartbook content.

The "Home ATM" Mostly Closed in Q1

CalculatedRisk Newsletter • 28 implied HN points • 12 Jun 25
💰 Finance Mortgage Housing Debt Equity Economy
  1. In the past, many homeowners borrowed against their home equity, calling it a 'Home ATM', but this led to financial problems when home prices fell. Today, most homeowners have solid equity in their homes, unlike back then.
  2. Mortgage debt increased by $45 billion in the first quarter of 2025, showing a slowdown compared to previous quarters. This is part of a larger trend of rising mortgage debt as people buy new homes.
  3. Mortgage debt as a percentage of the economy is at 44.8%, which is much healthier compared to the 73.1% peak during the housing crisis. This means homeowners today generally have more equity and better financial stability.

Why you'll hate my investment advice

Erdmann Housing Tracker • 63 implied HN points • 02 Jan 25
💰 Finance Investing Personal Finance Economics Market Trends Real Estate
  1. Understanding the basics of an investment can clarify why certain opinions might seem oversimplified or dismissive at times.
  2. It's important to recognize different perspectives in investing, as they can affect how one interprets market issues.
  3. Sharing investment strategies can help others see the reasoning behind specific choices and thought processes.

FOMO and the optimal portfolio size

Klement on Investing • 2 implied HN points • 12 Jan 26
💰 Finance Portfolio Construction Asset allocation Risk management Investment strategy ESG Investing Equity markets
  1. Random global portfolios need hundreds of stocks (often 250–750) to meaningfully diversify stock-specific risk and narrow return outcomes, because a few big winners drive returns while many stocks fail.
  2. ESG-weighted portfolios converge even more slowly, so applying ESG selection typically increases the number of holdings required to stabilize volatility and returns.
  3. Concentrated portfolios still make sense for genuinely skilled active managers because concentration amplifies and reveals skill quickly; if managers are effectively random, broad indexing or very large portfolios are the better choice.

Daily Chartbook #397

Daily Chartbook • 157 implied HN points • 08 Mar 24
💰 Finance Charts
  1. The post is part of a paid subscription service called Daily Chartbook #397
  2. The Daily Chartbook #397 provides a daily summary of the day's events through 30 charts
  3. To access the content, you need to subscribe to the service on their website

Equity investment is flooding into mining stocks

Miner Weekly • 19 implied HN points • 22 Feb 24
💰 Finance Bitcoin Mining Corporate News Financial News
  1. Equity investment is pouring into mining stocks like CleanSpark, Iris Energy, and HIVE, which raised over $350 million through stock offerings.
  2. Public mining companies like Iris Energy, CleanSpark, and HIVE are expected to invest around $450 million in buying additional Antminer S21s from Bitmain.
  3. Companies, including BlackRock subsidiaries, are increasing their positions in various mining stocks, indicating a surge in equity financing for mining companies.

June 2025 Residential Home Sales

Erdmann Housing Tracker • 21 implied HN points • 24 Jul 25
💰 Finance Real Estate Market Trends Sales Data Housing policy Investment
  1. Home sales have been flat and inventory has been rising for about 8 years. This long trend can be surprising and hard to understand.
  2. Looking closely at housing data requires careful interpretation; many factors like COVID can distort the view.
  3. Understanding the housing market involves recognizing patterns that might not change quickly, which can be frustrating for those expecting quick shifts.

The Market Does Not Care!

Behavioral Value Investor • 156 implied HN points • 10 Mar 24
💰 Finance Investing Market behavior Long term
  1. The market does not care about titles, appearances, or labels - what matters are the quality of your decisions over time.
  2. It doesn't matter which school you went to, what clothes you wear, or if you have a fancy office - the effort you put into research and your convictions is key.
  3. The market doesn't care what others think about you, so it's important to focus on your own investment process and not be swayed by external opinions.

Daily Chartbook #395

Daily Chartbook • 157 implied HN points • 06 Mar 24
💰 Finance Market Analysis
  1. Daily Chartbook #395 can be accessed on dailychartbook.com and offers a summary of the day through 30 charts.
  2. The post is for paid subscribers only, as indicated by the 'This post is for paid subscribers' message.
  3. To access the content, interested individuals need to subscribe on the dailychartbook.com website.