The hottest Financial Data Substack posts right now

The best investment is in yourself, always pays the best interest.
Interactive Brokers is highlighted as one of the best and cheapest brokers available.
The website offers a wide range of content on investment philosophy, financial analysis, portfolio management, and more.

Cutting-edge AI methods are moving fast into finance, with advances like improved limit-order-book forecasting, quantum-classical RL, GANs for market data, and finance-focused LLMs showing big performance gains.
Open-source tools and frameworks are accelerating experimentation and deployment, from Rust/Python alpha libraries and LLM trading frameworks to adaptive agent code and Paper-with-Code projects for continuous learning.
There’s a growing emphasis on robustness and understanding market effects, with work on interpretable/verifiable trading, statistically faithful data generation, microstructure modeling, and studying endogenous volatility.

Interest rates are rising, affecting both stocks and bonds. This change can make it harder for investors to predict market movements.
Only a few big tech companies are driving market gains, which shows the performance isn't shared evenly across all stocks. If you didn’t invest in those top companies, your returns might not be great.
There are still uncertainties about inflation and the economy, making it hard to predict what will happen next. Investors continue to swing between hope and worry.

The infographic shows how 'shadow cash' trades and flows are organized. This helps to understand hidden financial movements.
Mapping these trades can reveal patterns similar to bonds, which is important for investors to know.
Understanding shadow cash can help people make informed decisions about their investments and see the bigger picture in finance.

Mortgage equity withdrawal was slightly positive in Q3, meaning homeowners overall pulled out a little equity but not anywhere near the bubble-era levels.
Mortgage debt rose by $108 billion in Q3 (the same as Q2), though a good share of that borrowing is for buying homes rather than tapping existing equity.
Mortgage debt as a share of GDP is down to about 43.9% from its bubble peak, so most homeowners now have large equity cushions and few are in negative equity, meaning the “home ATM” is mostly closed.

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Money moved from smaller banks into larger banks during bank runs.
Switching banks or investing in money market funds doesn't reduce total deposits.
Deposit erosion likely occurred from commercial sectors not getting new credit with tightening monetary policies.

The equity risk premium (ERP) shows what investors expect to earn from stocks over risk-free investments like government bonds. It's a key measure of investor sentiment and market risk.
In 2014, the ERP fluctuated around 5% but increased at the end of the year due to updated growth rates, indicating changes in how investors view risks for stocks.
Looking ahead, there are three main risks for the markets: potential drops in earnings, changes in interest rates by the Federal Reserve, and global economic uncertainties that can impact stocks.

In 2015, US equity markets showed resilience despite facing significant crises, with the S&P 500 ending almost unchanged, which is a positive outcome given the challenges.
The equity risk premium (ERP) for stocks is currently at 6.12%, suggesting that investing in stocks might offer good returns compared to risk-free assets, but this is based on softer earnings than before.
Caution is needed, as the current high ERP could drop if earnings fall or bond rates rise, so it's essential to keep an eye on these factors when investing.

USBTC and Hut8's combined self-mining capacity is set to reach 7.5 EH/s after a recent deal, surpassing initial expectations of 7 EH/s.
In March, the realized hashrate of USBTC and Hut8 declined to 3 EH/s, positioning the new Hut8 as the eighth largest public bitcoin mining company by self-mining production.
USBTC and Hut8 have complementary financial aspects, with deep diving into their balance sheets revealing potential avenues for future growth and positioning for the bitcoin halving.