The hottest Investing Substack posts right now

And their main takeaways
Category
Top Finance Topics

❄️ 🎧 Le retour de Napster. Kering > LVMH ?

Snowball • 668 implied HN points • 19 Feb 23
💼 Business Investing
  1. Kering, a leader in the luxury world, seems like a better investment opportunity than LVMH at the moment.
  2. Politicians often aim to secure re-election by buying votes and creating financial benefits through political power.
  3. Napster revolutionized the music industry in the late 90s and is aiming to do so again with web3 technology.

The Investment Case for Chinese Stocks

Modern Value Investing • 353 implied HN points • 28 Jan 24
💰 Finance Investing
  1. Chinese stocks have underperformed global peers, but a potential reversal could be imminent due to recent policy changes and low valuations.
  2. The Chinese government has taken measures to support the stock market, including a significant rescue package and regulatory changes, indicating a shift in approach.
  3. Factors like global underweighting of Chinese stocks, a recovering Chinese economy, and potential monetary policy adjustments suggest a positive outlook for investing in Chinese stocks.

Meet the nurse who's also a private equity investor

Second Opinion • 668 implied HN points • 24 Apr 23
💼 Business Investing
  1. Meghan Fitzgerald is a nurse who's also a private equity investor, unique in the health care field.
  2. She focuses on investing in removing waste, prevention, and addressing labor and burnout in the healthcare sector.
  3. Meghan remains optimistic about the healthcare market, especially in areas like public health tech.

Portfolio Review - January 2024

The Wolf of Harcourt Street • 399 implied HN points • 01 Feb 24
💰 Finance Investing
  1. The newsletter discusses investing in NU Holdings as a new position due to its growth potential in Latin America.
  2. The author shares insights on adding to their Auto Partner position, seizing an opportunity when the stock price dropped.
  3. The author presents a buy list, highlighting Evolution and NU as stocks to watch and potentially add to the portfolio.

The Price of Risk: With Equity Risk Premiums, Caveat Emptor!

Musings on Markets • 759 implied HN points • 05 Aug 23
💰 Finance Investing
  1. Equity risk premium (ERP) is the extra return investors expect from risky investments compared to risk-free ones. Understanding this helps investors make better decisions about stocks.
  2. Different methods to measure ERP can give very different results. It's important to understand why and how these estimates change over time.
  3. Using a consistent and logical approach to estimating ERP is crucial for making informed investment choices. Each method has its pros and cons, and what works best may depend on your investment goals.
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Letters to a Young Investor: Kirsten Green

The Generalist • 820 implied HN points • 06 Feb 25
💼 Business Investing
  1. Kirsten Green's journey to becoming a successful investor wasn't straightforward. It took her ten years of learning and failing before founding her own firm.
  2. She developed a unique way of looking at business opportunities by focusing on how a business model can enhance the customer's experience.
  3. Failures in her early investments taught Kirsten valuable lessons and shaped her approach to investing, helping her identify when to trust her instincts.

DeFi Education Q&A (December 2023)

DeFi Education • 479 implied HN points • 08 Dec 23
🔮 Crypto Investing
  1. DeFi Education offers monthly Q&A sessions for subscribers. This is a great chance to ask questions and learn more about decentralized finance.
  2. The sessions are led by professionals with experience in finance and software, so you can expect valuable insights.
  3. These Q&A sessions are exclusive to paid subscribers, giving them access to expert knowledge and support.

Elite X Hype, Mediocre Financial Impact

Irrational Analysis • 159 implied HN points • 27 Apr 24
💰 Finance Investing
  1. Qualcomm's market share in laptop/PC is expected to grow from less than 0.1% to 5% by CY 2025.
  2. The stock price of Qualcomm may not show significant movement as the potential market share gains are likely already factored in.
  3. Qualcomm's gain in market share is predicted to come at the expense of Intel, which is already facing numerous challenges in their core business.

The “Sell America” Trade Isn’t A One-Off

QTR’s Fringe Finance • 26 implied HN points • 23 Jan 26
💰 Finance Investing
  1. Foreign demand for U.S. Treasuries is weakening at the same time U.S. deficits are growing, driven by Japan’s rate normalization, higher European borrowing, and less Chinese dollar recycling. That mix points to a weaker dollar, higher long-term yields, and more reliance on policy support for the Treasury market.
  2. Geopolitical and trade shocks can quickly trigger a "Sell America" trade where stocks, Treasuries, and the dollar all fall together, because foreign holders can and will reprice political risk and divest U.S. assets. Even small divestments by big foreign investors signal that demand for Treasuries is a choice, not an automatic safe-haven.
  3. Because concentration risk in U.S. bonds is rising, investors should diversify into foreign stocks and bonds and consider physical gold for balance-sheet protection. The Fed's recent reserve-management purchases of T-bills show the market may be becoming increasingly dependent on central-bank support rather than organic global demand.

Top Links 756 Tariff-sensitive inflation is on its way. The crisis in the diamond business. The Sound of Music and Caught by the Tides.

Chartbook • 429 implied HN points • 01 Jun 25
💰 Finance Investing
  1. Tariff-sensitive inflation is expected to rise soon. This means that prices on certain goods may go up because of changes in tariffs.
  2. The diamond industry is facing a crisis. This could impact the availability and pricing of diamonds in the market.
  3. There are interesting discussions around cultural topics like 'The Sound of Music' and environmental issues like 'Caught by the Tides'. These may provide insights into how culture and nature intersect.

Clouded Judgement 2.6.26 - Software Is Dead...Again...For Real this Time...Maybe?

Clouded Judgement • 18 implied HN points • 06 Feb 26
💼 Business Investing
  1. Public software valuations have collapsed — the median NTM revenue multiple is about 3.6x and roughly 39% of the index trades below 3x, as investors reprice the sector amid much higher uncertainty.
  2. AI agents are poised to capture much of the new incremental value on top of systems of record, effectively pushing legacy cloud software down the stack into lower-growth middleware; a small minority (maybe ~10%) of incumbents may successfully capture the agent-driven S-curve.
  3. The market reaction may be overdone in the short term because many companies still show solid results and enterprise cloud migrations continue, but real operational problems (heavy SBC, long CAC paybacks) plus greater terminal risk justify a lower, more cautious multiple environment.

Links - 01/15/2024

Value Investing World • 373 implied HN points • 16 Jan 24
💰 Finance Investing
  1. Investors need a margin of safety when investing in securities to account for human error and market volatility.
  2. Various podcasts and videos are available covering topics like top stocks for 2024, business strategies, and lessons from investors.
  3. Continuously learning and staying informed is crucial in making wise decisions, as wisdom doesn't come by chance.

Charts Charts Charts

Investment Talk • 648 implied HN points • 26 Mar 23
💰 Finance Investing
  1. Charts Charts Charts is a weekly curated snippets from the stock market.
  2. The post is for paid subscribers only.
  3. Readers can subscribe to Investment Talk to learn about life, the stock market, and companies.

Fed Pivots to More Hikes, More Pain

cryptoeconomy • 648 implied HN points • 10 Jun 23
💰 Finance Investing
  1. The Federal Reserve is planning more interest rate hikes and tightening measures, signaling potential economic pain.
  2. Despite initial expectations of a pause in rate hikes due to economic impacts not yet fully realized, Fed Governor Waller is advocating for further hikes to curb inflation.
  3. Quantitative Tightening, the reversal of money printing, may be the next step for the Fed despite past failures, raising concerns of potential economic disruptions and widespread impacts.

Value Investing Substack Portfolio Review | Annual Letter 2023

Value Investing Substack • 373 implied HN points • 14 Jan 24
💰 Finance Investing
  1. The VIS Portfolio outperformed the S&P 500 both in up and down years, showing it's a zero-correlation portfolio.
  2. By focusing on undervalued stocks, the VIS Portfolio achieved similar or higher upside than the S&P 500 with lower downside risk.
  3. The VIS Portfolio has consistently beaten the S&P 500 across different time periods, showcasing the effectiveness of the value investing strategy.

26 Stocks I'm Watching For 2026: Part 1

QTR’s Fringe Finance • 53 implied HN points • 23 Dec 25
💰 Finance Investing
  1. High-conviction thematic bets — especially nuclear energy, precious metals, rare earths, and junior miners — powered huge outperformance in 2025, showing the payoff from concentrated exposure to structural themes.
  2. Heading into 2026 there are five major risks to watch: a tapped-out American consumer and rising delinquencies, frothy AI-driven valuations, an erosion of the passive bid, crypto’s growing systemic ties, and geopolitical moves pushing investors into hard assets.
  3. Two market regimes are plausible next year — a liquidity-fueled bull where policymakers prop up nominal prices, or a reality-driven bear with deleveraging — so focus on relative performance, favoring international/EM and metals as hedges rather than long-duration or richly priced U.S. equities.

Ticker Take: a weekly newsletter on investing.

Jon’s Newsletter • 119 implied HN points • 19 May 24
💰 Finance Investing
  1. Investing in utilities could be a smart move as demand for power grows due to the rise of AI and data centers.
  2. The stock market has shown strong recent performance, with predictions of further gains this year based on solid earnings and market momentum.
  3. There's a noticeable trend in retail investors participating in meme stocks, indicating a lasting shift in how a generation approaches investing in the stock market.

Some jottings on Pulak’s book

Buggy Humans in a Messy World • 628 implied HN points • 15 Mar 23
💼 Business Investing
  1. Investing knowledge is best learned from successful practitioners who openly share their thoughts and actions.
  2. Exploring the world of evolutionary biology can offer valuable insights into investing and life.
  3. Pulak's book emphasizes timeless investing principles and helps them stick better by presenting them through a novel lens.

Ticker Take: a weekly newsletter on investing.

Jon’s Newsletter • 79 implied HN points • 16 Jun 24
💰 Finance Investing
  1. Broadcom's stock has seen a significant increase, driven by high demand for its AI products, and investors are optimistic about its future.
  2. Experts, including AI leaders, warn that tech companies need to invest more in AI safety as competition grows, emphasizing the potential risks if AI surpasses human intelligence.
  3. The market for obesity drugs is expected to grow significantly in the coming years, with major companies like Novo Nordisk and Eli Lilly leading the way, indicating a strong investment opportunity.

Messi, Inc.

The Generalist • 2341 implied HN points • 22 Feb 24
💼 Business Investing
  1. Being considered the GOAT in a sport can lead to lucrative opportunities and wealth accumulation, as seen with athletes like Michael Jordan and Lionel Messi.
  2. Changes in social media, technology, and athlete earnings have given superstar athletes more power and control over their wealth and commercial endeavors.
  3. Lionel Messi's strategic moves, like moving to America and establishing Play Time, indicate a growing potential for immense wealth through business ventures beyond his football career.

Why Tesla Robotaxis Are a Fantasy

lawrence’s Substack • 159 implied HN points • 22 Apr 24
🕹 Technology Investing
  1. Tesla robotaxis may not be a feasible reality, according to informed commentators. Full Self-Driving is far from being ready for autonomy tests.
  2. Michael McGrath explains why Tesla's Full Self-Driving is technically infeasible and flawed as a business model, offering a critical perspective.
  3. Matthew Enthoven and Edward Niedermeyer also provide valuable insights and critiques on Tesla's autonomous driving ambitions.

Software Is Fine

Software Snack Bites • 21 implied HN points • 19 Jan 26
💰 Finance Investing
  1. AI-native startups will be able to build and maintain custom software more cheaply and could disrupt incumbents, but real-world issues like trust, ongoing maintenance, and company adoption still limit immediate wholesale replacement.
  2. The recent drop in many software stocks is driven largely by market flows, hedging, and correlated selling with semiconductors and datacenter names, not a fundamental ‘end of software’ story.
  3. Top-quality software companies are relatively resilient, but founders of legacy or pre-AI products need to add clear AI-driven growth hooks to earn premium multiples as markets reprice.

Ticker Take: a weekly newsletter on investing.

Jon’s Newsletter • 19 implied HN points • 18 Aug 24
💰 Finance Investing
  1. Stocks linked to housing and utilities might do well as interest rates drop. Investors are looking at companies like Lennar and Home Depot.
  2. Warren Buffett's Berkshire Hathaway has recently bought shares in Ulta Beauty and Heico Corp, while also reducing its stake in Apple.
  3. Mars is buying Kellanova, which could change the snack food market by creating a stronger competitor to companies like Pepsi and Hershey.

Repost: Armed conflict investor survival guide

Klement on Investing • 6 implied HN points • 19 Feb 26
💰 Finance Investing
  1. Don’t panic — most geopolitical shocks don’t hurt equity performance beyond a few weeks, so avoid rushing to sell and consider buying risky assets when they dip.
  2. Use a simple checklist before acting: ask whether infrastructure is damaged, whether inflation will stay high, and whether real interest rates will shift, since each outcome calls for different sector decisions.
  3. Only make major portfolio changes if the effects are persistent (more than a year) on inflation, earnings, or rates; short-term market fear is usually noise and a buying opportunity.

Dry Powder

QTR’s Fringe Finance • 25 implied HN points • 22 Jan 26
💰 Finance Investing
  1. Keep significant dry powder—cash or short-term investments—so you can act quickly on big opportunities or cover emergencies; if possible aim for millions, but at minimum have enough (e.g., $100k+) to avoid forced selling.
  2. US equities look richly priced by several measures (market-cap-to-GDP, Shiller PE, and heavy tech concentration), which raises the odds of low or negative returns in the years ahead.
  3. Investor complacency and low volatility mean now is a time to be defensive and plan to buy optionality during market stress (and consider writing optionality when volatility spikes), using cash to take advantage of forced-selling opportunities.

Decentralized Finance - the High Level Basics

DeFi Education • 5115 implied HN points • 20 Jun 21
🔮 Crypto Investing
  1. Decentralized finance (DeFi) allows people to lend or borrow using their crypto assets without relying on banks. This means you can use your Bitcoin as collateral to get a loan without selling it.
  2. Smart contracts are essential in DeFi, replacing middlemen with code to streamline financial transactions. This makes processes like taking out loans or trading assets easier and cheaper.
  3. DeFi aims to remove inefficient centralized systems, allowing for 24/7 trading and more access to financial opportunities. This could change how we invest, like through NFTs and other digital assets.

Crime and Covid Set up the Next Bank Crisis

cryptoeconomy • 609 implied HN points • 15 Apr 23
💰 Finance Investing
  1. Major retail chains closing stores due to crime and Covid may lead to a bank crisis
  2. Big cities experienced increased crime rates post-pandemic, causing people to move out
  3. Empty office spaces and store closures across major cities could significantly impact banks and financial systems

The 1%

Market Sentiment • 589 implied HN points • 09 Apr 23
💰 Finance Investing
  1. Many millionaires invest their money wisely, not just through income.
  2. The top 1% of Americans own more stocks than the other 99%, highlighting the importance of investing in equities for wealth growth.
  3. Affluent retail investors typically have a long-term risk orientation with high equity exposure and minimal panic selling tendencies.

Harvard's Water

Lewis Enterprises • 589 implied HN points • 06 Aug 23
💼 Business Investing
  1. Long-term institutional investing can provide a unique edge in the financial market.
  2. Establishing unconventional investment profiles can lead to great returns but might challenge conventional wisdom.
  3. Harvard's approach to investing in water resources and farmland involves complex strategies and global acquisitions.

What is a Derivative?

Concepts of Finance 🧠 • 279 implied HN points • 11 Feb 24
💰 Finance Investing
  1. Derivatives are financial tools that get their value from something else, like stocks or commodities. They don't have value on their own; their worth depends on the performance of the underlying asset.
  2. Derivatives exist to help with risk management, leverage potential gains, and allow speculation on price movements. They can protect investments or amplify losses based on how they're used.
  3. There are different types of derivatives, including futures, options, and swaps. Each has its own way of working, but all can increase financial risk if not used carefully.

Coinbase Q3 2023 Earnings

DeFi Education • 519 implied HN points • 03 Nov 23
💰 Finance Investing
  1. Coinbase had some good news in their Q3 earnings report. They are seeing signs of positive growth.
  2. However, there is bad news too, as some challenges in the market could affect their performance.
  3. The recent verdict in the Sam Bankman-Fried trial is significant and could impact the crypto industry and its regulations.

7 Things You Should Do Before the Coming Bear Market

Behavioral Value Investor • 89 implied HN points • 17 Nov 25
💰 Finance Investing
  1. Write down your investment process so you can stick to it during a market crisis. It helps remind you of your strategies when emotions run high.
  2. Focus on long-term investments instead of short-term gains. This way, you can stay on track and not get swayed by temporary market changes.
  3. Be patient and only invest in solid companies at fair prices. This gives you room to make smart choices instead of panicking in a bear market.

One Underperforming Stock I Keep Adding

QTR’s Fringe Finance • 19 implied HN points • 29 Jan 26
💰 Finance Investing
  1. Most of the portfolio has been beating the broader indexes so far this year.
  2. One specific holding has been a clear laggard and underperforming the rest of the portfolio.
  3. Despite that underperformance, the investor is adding exposure to the stock and shared an update for paid subscribers.