The hottest Investing Substack posts right now

And their main takeaways
Category
Top Finance Topics

Top Links 780 First-time home buyers. Stablecoin surge. Thatcher's Volcker shock & the Alpha Course.

Chartbook • 429 implied HN points • 27 Jun 25
💰 Finance Investing
  1. First-time home buyers are facing challenges in today's market. It's getting harder for them to find affordable options.
  2. There's been a surge in stablecoins recently. This could have big impacts on the financial landscape.
  3. Historical events like Thatcher's Volcker shock still influence today's economic discussions. They show how past policies shape current financial situations.

All Time High Everything

Deep Pulusani - Risk • 222 implied HN points • 19 Sep 25
💰 Finance Investing
  1. Asset prices are at all-time highs, so wages and earned income matter less for net wealth and rate cuts/additional liquidity mostly benefit asset owners while eroding purchasing power.
  2. Monetary policy and political incentives now push to support equity prices—Fed easing, vast retirement savings into stocks, and global dollar flows (plus a weakening dollar) are lifting both equities and gold together.
  3. Demographics and fiscal choices are shifting wealth toward older generations and burdening the young, leaving three plausible paths ahead: sustained productivity-led gains, a tech/AI-driven bubble and bust, or an inflation/currency-driven market that masks real weakness.

Why Insurance Companies Are Rationally Failing Their Social Purpose

Software Design: Tidy First? • 1391 implied HN points • 25 Oct 24
💼 Business Investing
  1. Insurance is meant to convert risks into opportunities, allowing people to buy homes and start businesses by protecting lenders against losses. But it's complicated when companies only want to insure low-risk customers.
  2. Insurance companies often cut back on the risks they cover to stay competitive and offer lower prices, which means they might not support those in need, like entrepreneurs with health issues.
  3. For insurance to work as it should, companies need to stop focusing solely on low-risk clients. They should start covering real people, including those who are a bit riskier, to provide the societal benefits that insurance was originally designed for.

How I Became a Venture Capitalist

The New Internet by Jeff Morris Jr. • 14 implied HN points • 12 Feb 26
💼 Business Investing
  1. You can move from operator to VC by building a public, trackable investing record and a clear thesis—start small with SPVs or angel checks and share your work openly.
  2. Traditional scout programs are broken: access is closed to insiders, scout performance is hidden, and the programs mainly create leverage for firms rather than career paths for scouts.
  3. A new season-based Scout Program aims to democratize access by letting anyone apply, giving each selected scout $100K, public profiles and leaderboards, and mentorship to help scouts build real track records and potentially raise funds.
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Academy Discount is LIVE! (+ The Next Bull Run)

DeFi Education • 659 implied HN points • 07 Nov 23
🔮 Crypto Investing
  1. There is a $100 discount available for the DeFi Academy until November 9, 2023. This is a good chance for new members to join.
  2. Despite some ongoing challenges in the crypto market, there are signs of recovery and potential for a bull run. Staying informed and prepared can help capitalize on this.
  3. Building skills, capital, and the right mindset is essential for success in crypto. Focus on what you're good at and keep improving yourself.

Links - 01/16/2024

Value Investing World • 432 implied HN points • 17 Jan 24
💰 Finance Investing
  1. Trying to assign precise values to investments can be misleading and inaccurate.
  2. Security analysis does not require exact intrinsic value, just a rough estimate that indicates whether it's a good buy or not.
  3. Consider the imperfect nature of valuing businesses when making investment decisions.

Links - 01/09/2024

Value Investing World • 452 implied HN points • 10 Jan 24
💰 Finance Investing
  1. In times of easy money, people tend to take risky investments over maintaining high standards.
  2. Choosing to abstain from risky investments and herd behavior requires uncommon strength.
  3. Check out valuable investment insights from sources like Howard Marks, Boyar Research, Mohnish Pabrai, and Fundsmith's annual letter.

DeFi Education Q&A (November 2023)

DeFi Education • 639 implied HN points • 11 Nov 23
🔮 Crypto Investing
  1. Blackrock registered an iShares Ethereum Trust, which is similar to their previous move with a Bitcoin ETF.
  2. Ether's price surged by 7% after the news and is approaching its highest value this year.
  3. The registration of the Ethereum ETF could signal growing interest and investment in cryptocurrency markets.

Top Links 773 How a private equity titan became an insurance-backed quasi-bank. Narrating the AI boom & rethinking the "fall of Rome".

Chartbook • 443 implied HN points • 18 Jun 25
💼 Business Investing
  1. Apollo, a big player in private equity, became like a bank by adding insurance services to its business. This change was led by its CEO in 2009.
  2. The rise of artificial intelligence is a hot topic, drawing attention to its impact and potential in today's economy.
  3. There's a need to rethink historical perspectives, like the fall of Rome, to better understand how current events and trends affect us today.

"Time Is Of The Essence"

TSOH Investment Research Service • 393 implied HN points • 29 Jan 24
💰 Finance Investing
  1. Comcast's strong financial performance with record highs in adjusted EBITDA and EPS
  2. Comcast's focus on returning capital to shareholders through stock repurchases
  3. Key assumptions for Comcast's future success include segment stability, growth, and resisting transformative M&A

[2025–2026] Week 12: The Money Game by 'Adam Smith'

Behavioral Value Investor • 44 implied HN points • 09 Jan 26
💰 Finance Investing
  1. There are many different investing styles that can succeed, so focus on the approach that fits your natural strengths and find ways to cover or mitigate your weaknesses.
  2. Human psychology and behavioral biases strongly shape market decisions, so studying past market behavior helps you recognize recurring patterns and avoid common mistakes.
  3. Active learning and community engagement—doing assigned readings, answering questions, and discussing ideas respectfully—accelerate understanding and improve practical investing skills.

Regulatory capture is real

Klement on Investing • 3 implied HN points • 02 Mar 26
💰 Finance Investing
  1. Strong regulation tends to lower company valuations because it raises costs, limits growth, and shields stakeholders other than shareholders.
  2. When companies influence regulators or use the revolving door to place insiders in regulatory roles, they can turn regulation into a barrier to entry that boosts incumbents’ margins and valuations.
  3. Lack of regulation can spur rapid growth but also enables widespread fraud and abuse, highlighting the trade-off between fast innovation and consumer protection.

Market Update

DeFi Education • 679 implied HN points • 29 Oct 23
🔮 Crypto Investing
  1. Bitcoin's price surged dramatically, gaining 16% in just one day. This indicates strong investor interest and market volatility.
  2. The overall crypto market has seen significant growth, with Bitcoin doubling its value in the last 11 months. This reflects a positive trend in the cryptocurrency space.
  3. Speculation about a potential Bitcoin ETF approval is driving excitement and speculation among investors, suggesting the market is watching closely for regulatory news.

What We're Looking At Now

DeFi Education • 599 implied HN points • 18 Nov 23
🔮 Crypto Investing
  1. Fidelity has applied for an Ethereum ETF, indicating a renewed interest in cryptocurrency. This could attract more investors and boost the market.
  2. The post includes strategies for upcoming investment moves and highlights specific cryptocurrencies to watch. This information is valuable for those looking to make informed decisions.
  3. The concept of 'crypto rotations' is introduced, highlighting how different cryptocurrencies can gain and lose popularity over time. Understanding this can help investors navigate the volatile market.

CHEAP JAPANESE STOCK INDEX FORWARDS

The MacroTourist • 412 implied HN points • 19 Jan 24
💰 Finance Investing
  1. The author has a new favorite Japanese stock index position betting on Nikkei outperforming S&P 500 and getting long volatility.
  2. The focus of the article is not on fundamental reasons for the position, but on a unique trading edge.
  3. The content of the post is available only to paid subscribers.

Contrasting Elon Musk, Peter Thiel, and Sam Altman

Erik Torenberg's Thoughts • 1197 implied HN points • 20 Nov 24
🕹 Technology Investing
  1. Peter Thiel challenges popular beliefs, often promoting ideas that flip conventional wisdom upside down, like seeing monopolies as goals to strive for.
  2. Sam Altman taps into current trends and enthusiasm to fuel new developments, believing in a balance between capitalism and social good, like universal basic income.
  3. Elon Musk focuses on building and scaling projects, taking big risks when he sees potential, emphasizing a survival mindset for humanity's future.

One Stock I'll Avoid Forever

QTR’s Fringe Finance • 23 implied HN points • 30 Jan 26
💰 Finance Investing
  1. A specific S&P 500 stock is identified as one to avoid forever, with a firm stance against ever owning it.
  2. Recent developments this week made the negative view even stronger.
  3. The detailed explanation and reasons are behind a paywall and require a paid subscription to read.

An Exit

Points And Figures • 1012 implied HN points • 10 Jan 25
💼 Business Investing
  1. Investing in entrepreneurs you believe in can be more important than the product itself. Finding a passionate leader can make all the difference.
  2. Solving personal problems often leads to stronger businesses. When entrepreneurs face their own challenges, their passion and commitment to the solution grow.
  3. Being smart with financing is key for business success. Using venture debt wisely can help a company grow without giving up too much ownership.

The Bear Cave #275

The Bear Cave • 489 implied HN points • 25 May 25
💼 Business Investing
  1. Culper Research shared concerns about Archer Aviation, claiming they've misled investors about their eVTOL aircraft development. This raises questions about the company's trustworthiness.
  2. Recent executive resignations at several companies indicate potential instability and challenges within those organizations. This could affect their performance and investor confidence.
  3. Muddy Waters Research and other groups are highlighting issues in companies like Freedom Holding Corp and Marqeta, pointing out possible financial mismanagement and regulatory problems that could pose risks for investors.

Why pessimists make more money

Klement on Investing • 5 implied HN points • 24 Feb 26
💰 Finance Investing
  1. People value stories more than raw data and will pay for explanations about the economy even when they already have the forecasts.
  2. Among buyers of narratives, pessimistic stories command a higher price, so pessimists can charge more for their outlooks.
  3. Different people prefer different narratives: overconfident buyers lean toward pessimistic views, motivated reasoners seek biased (optimistic or pessimistic) stories, and those focused on accuracy choose the consensus narrative.

Top Links 757 Flipping correlations. Mapping credit scores. Saudi twitter & the secrets of the RG.

Chartbook • 472 implied HN points • 02 Jun 25
💰 Finance Investing
  1. Treasury yields and the value of the dollar are acting differently now, where higher yields are linked to a weaker dollar.
  2. There are interesting tools that help map and understand credit scores, which could be helpful for managing finances.
  3. Saudi Twitter is revealing some hidden information about the region, suggesting social media plays a role in public discourse.

Paid Sub Q&A

DeFi Education • 4656 implied HN points • 27 Nov 21
🔮 Crypto Investing
  1. There is a paid Q&A session where subscribers can ask questions or make requests. It's a good chance to get specific help or information.
  2. The post encourages interaction from paid subscribers, making it feel more personal and engaging.
  3. The Q&A is organized to take place during holidays, hinting that the creators are dedicated and available even when others are not.

The Bear Cave #277

The Bear Cave • 443 implied HN points • 08 Jun 25
💼 Business Investing
  1. Recent research has raised serious concerns about several companies. For example, Abacus Global Management might be overstating the value of its assets.
  2. Many executives are leaving their positions, especially CFOs from companies like Hallador Energy and BigBear.ai. This could reflect instability in those companies.
  3. There are issues with how some companies report their user metrics and finances, such as Yalla Group and Sharplink Gaming, which might mislead investors.

DeFi Education Q&A (January 2024 pt. 2)

DeFi Education • 379 implied HN points • 27 Jan 24
🔮 Crypto Investing
  1. The Q&A format is now bi-weekly to keep up with the active market. This means you'll get new information more often.
  2. There is an upcoming post focused on Bitcoin DeFi, which many readers have asked for. It's taking a bit longer to prepare because it's a complex topic.
  3. Subscribers are encouraged to engage with the content to stay updated on the latest discussions in DeFi. Your participation helps shape future topics.

The Art of Crypto Kayfabe

Altered States of Monetary Consciousness • 1076 implied HN points • 11 Dec 24
💰 Finance Investing
  1. The investment world can be likened to a wrestling league where different assets compete for your money. Each asset has its own story or gimmick to attract investors, just like wrestlers have unique personas.
  2. Bitcoin is often seen as a rebellious fighter trying to challenge the dominance of the US dollar, but it also plays a tricky game of pretending to be both a currency and an investment asset. This duality creates confusion about its true value and purpose.
  3. Like wrestling matches, the market can be influenced by emotions and narratives. The way assets are portrayed and the stories built around them affect how people perceive their worth and make investment decisions.

💰 Stock-Based Compensation Explained

How They Make Money • 707 implied HN points • 24 Mar 23
💰 Finance Investing
  1. Stock-Based Compensation (SBC) is a remuneration strategy where companies reward employees with equity interests.
  2. SBC affects investors through ownership dilution, alignment of interests, and impact on company performance.
  3. There are different types of SBC such as stock options, restricted stock units, and performance shares, each with unique characteristics and implications.

The Great Sobriety for Venture Investing, Where To Start with AI, & Undeniable Data

Implications, by Scott Belsky • 707 implied HN points • 19 Sep 23
💼 Business Investing
  1. The venture capital world is facing harsh realities and there are lessons to be learned about creating great products from failed ventures.
  2. Adopting AI requires a '4 P's' framework: Play, Pilot, Protect, Provoke.
  3. Financing for startups should prioritize product-led growth, focus, and discipline over raising large amounts of capital.

Fundamentally Broken IPO Market

Points And Figures • 319 implied HN points • 01 Aug 25
💰 Finance Investing
  1. When companies go public, there can be a big gap between their initial stock price and what it trades for right after. For example, Figma's stock jumped from $33 to $85 at the start, leaving a lot of money on the table for early investors.
  2. The current IPO process favors big investors and leaves retail investors with little chance to buy in at a fair price. This has led to a broken system that needs a rethink to be more fair for everyone involved.
  3. Direct listings could offer a better way for companies to go public. This approach could help more founders and investors keep profits instead of giving them to brokers and large funds.

Delusion

Venture Prose • 698 implied HN points • 30 Jul 23
💼 Business Investing
  1. Self-awareness is crucial to avoid delusion. Recognize your failures, flaws, and biases to make better decisions.
  2. Surround yourself with the right people who can provide constructive criticism. Be open to inner and outer conflicts to improve.
  3. Ask for clear feedback and address concerns about your business. Work towards understanding and extracting value from others' perspectives.

Why ETF fees matter when you choose your Bitcoin ETF

Ecoinometrics • 393 implied HN points • 15 Jan 24
💰 Finance Investing
  1. When choosing a Bitcoin ETF, fees are crucial as they can significantly impact your investment performance over time.
  2. High fees can lead to a significant decrease in net returns, especially in the long run, affecting your overall investment strategy and potential growth.
  3. Investors should consider the impact of fees on their investments, especially for long-term goals like retirement accounts, to optimize performance and maximize returns.

Ticker Take: a weekly newsletter on investing.

Jon’s Newsletter • 139 implied HN points • 11 May 24
💰 Finance Investing
  1. Growth is good, but focus on steady companies. Investing in companies like Mastercard and Waste Management can be safer than in more volatile sectors like tech.
  2. Look for quality stocks with strong finances. Companies that have good balance sheets and are undervalued are better bets for stability and growth.
  3. Beware of concentration in one stock. It's smart to diversify your portfolio; don't let one winning stock take up too much space.