The hottest Financial Strategy Substack posts right now

Rental car companies are currently trading at low multiples, making them a potentially cheap investment.
Despite the persuasive bear case, the bull case for rental car companies includes aggressive capital returns to shareholders and potential for sustained earnings.
Structural improvements in the rental car industry, such as consolidation and disciplined supply, could support profitability even if current high levels are not completely sustainable.

Marc Faber emphasizes the importance of having a strategy for investment and behavior in the face of a coming economic depression.
Faber recommends a good allocation of physical gold as a means to protect savings from inflation.
Investing in markets requires a strong backbone, steady nerves, and great competence.

Startup can find a balance between bootstrapped and venture-funded paths
One-round wonder is about using a strategic, single round of funding with intention
Ideal range for 'one round' funding: $100,000 to $5,000,000

Hitachi stands out in corporate leadership and governance.
Hitachi's strategic decisions and financial prudence set it apart from GE and Toshiba.
Ethics, shared sacrifice, and competent leadership are key to Hitachi's success.

Megapost Part #3 on Philoinvestor website with updates on ASOS and investment insights.
Philo shares insights on ASOS narrative versus reality, focusing on the company's financial moves and transformation strategy.
ASOS strengthens balance sheet with new financing, equity raise, and shift to new commercial model for profitability.

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Protect your equity like it's your life to avoid detrimental impacts later on.
Seek to limit the amount of equity given up and maximize the valuation of your company.
Understand the incentives of different investors on your cap table to make informed decisions.

Startups can raise large upfront rounds to de-risk future fundraising and take advantage of money's present value.
Founders should benchmark their equity dilution against similar funding rounds to understand ownership implications.
Raising more capital than necessary can lead to giving away equity at a discount, especially for capital-efficient startups.

It's important to consider the original goals of organizations, like Y Combinator, which focused on providing fast experimentation and proof-of-growth.
Deep tech VC can benefit from a model inspired by mid-20th century research organizations that focused on profitable problem-solving and spinoff companies.
Collaboration with applied research professors at universities and shaping projects for future VC investment can enhance the quality and viability of deep tech investments.

Kent Beck learned from his grandfather that business can be about maximizing benefits for oneself at the expense of others.
Kent Beck initially believed that by creating value for others, nature would provide for him, but he later realized he needed to actively create a path for value to return to him.
Kent Beck's journey taught him that running a business doesn't have to mirror his grandfather's questionable practices; a business can be mutually beneficial for customers and himself.

Venture capital investors expect high returns, so startups need to aim to be either hugely successful or risk being considered failures.
In the world of venture-backed startups, growth is essential - if a business can't sustain growth, it may face failure.
Founders should carefully assess if venture capital funding aligns with their business goals and take steps to mitigate potential misaligned interests with investors.

Seed investing is experiencing a rough period due to market downturn, impacting both pre-seed and seed stages.
Despite the challenges, early-stage investing remains compelling, attracting multi-stage investors looking for opportunities in Seed.
Seed valuations are relatively high, but a focus on reasonably-priced rounds at the earliest stages can lead to significant returns for investors.