The hottest Investing Substack posts right now

And their main takeaways
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Top Finance Topics

It’s a good thing to have several suppliers

Klement on Investing • 1 implied HN point • 26 Jun 25
💰 Finance Investing
  1. Having many suppliers is important for businesses. It helps keep prices lower because they can compare options more easily.
  2. If companies rely on just one supplier, they might save money at first but face risks later, especially if there are problems like tariffs.
  3. Countries with diverse supply chains can handle trade issues better. For instance, if the US and EU have a trade dispute, the EU might face less inflation due to their varied suppliers.

Fees matter, frequent fees matter more

Klement on Investing • 3 implied HN points • 14 Nov 24
💰 Finance Investing
  1. Fees are important for investors. Higher fees usually lead to lower investment returns.
  2. Frequent fees can hurt your investment more than higher overall fees. If fees are deducted often, your money has less chance to grow.
  3. Understanding how performance fees work is key. Different structures, like high-water marks or hurdle rates, can affect your overall returns significantly.

A guide to navigating quarterly noise-flow

Buggy Humans in a Messy World • 1 HN point • 15 Jan 24
💰 Finance Investing
  1. The most reliable path to adequate returns involves buying good businesses at fair valuations and holding onto them for the long term.
  2. View each quarter as part of a continuing trajectory instead of in isolation, placing importance on long-term trends over short-term fluctuations.
  3. Focus on controllables like relative performance, balance sheet metrics, and wider error bands around long-term trends for better analysis of quarterly results.
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[P] VYX: Checking Out in 2025? (Part 3)

Nongaap Investing • 2 implied HN points • 11 Feb 25
💰 Finance Investing
  1. James Kelly has become the new CEO, taking over from David Wilkinson. This change in leadership may lead to new strategies and directions for the company.
  2. The focus seems to be on developments in 2025, suggesting that there are important plans or changes expected in the near future.
  3. This information is part of a subscription model, indicating that there might be more in-depth content available for paying subscribers.

Deglobalisation: Diversification rather than decoupling

Klement on Investing • 2 implied HN points • 11 Feb 25
💼 Business Investing
  1. Businesses are diversifying their supply chains instead of completely decoupling from certain countries. This means they are sourcing from multiple countries to reduce reliance on any single one.
  2. The evidence shows that while some decoupling is evident (like with Russia and the UK), many ties with countries like China are actually increasing.
  3. Overall, it's more about managing risks in supply chains rather than a full reversal of globalization. Companies are investing in new areas like Southeast Asia instead of just relying on past hubs like China or Russia.

Only academics believe in efficient markets

Klement on Investing • 7 implied HN points • 04 Jan 24
💰 Finance Investing
  1. Academics believe in efficient markets where past news does not affect investment decisions.
  2. Non-academics like financial professionals and retail investors do change forecasts in response to old news.
  3. Real markets are not as efficient as academics think, incorporating psychology and fundamentals is important for investing success.

The Changing Nature of Pre-Seed Syndication

Venture Reflections • 6 implied HN points • 11 Mar 24
💼 Business Investing
  1. The landscape of pre-seed investment is shifting, making it more challenging for founders to raise pre-seed rounds.
  2. Certain categories like defense tech and AI are skipping pre-seed investment due to high capital requirements.
  3. Many pre-seed investment partners are now focusing more on larger rounds with companies that have traction, resembling seed rounds.

🌊 Ocean Financing, Algal Biorefineries, and Wild vs Cultivated Seaweed...

paxtier • 6 implied HN points • 07 Feb 24
🔬 Science Investing
  1. Significant challenges in financing the blue economy persist due to the gap between required funding and actual investment.
  2. Algal biorefineries are attracting investors with reduced energy requirements and beneficial partnerships.
  3. Debate between wild and cultivated seaweed continues, with different regions presenting arguments for each method of harvesting.

Rate hikes and the damage to our national productivity

Klement on Investing • 6 implied HN points • 18 Jan 24
💰 Finance Investing
  1. Central banks have been implementing aggressive rate hikes to control inflation, leading to a reduction in investments in research and development (R&D).
  2. Rate hikes negatively impact corporate spending on R&D, resulting in a decline in innovation, lower productivity growth, and slower job creation.
  3. To counteract the adverse effects of rate hikes on R&D, fiscal policy measures supporting R&D efforts, like the Inflation Reduction Act, are crucial for boosting productivity and maintaining competitiveness.

#15: Maybe You Should Invest in Translation

Loeber on Substack • 6 HN points • 19 Jan 24
🕹 Technology Investing
  1. Translation is the next big thing in AI with significant global impact
  2. Advancements in speech-to-text, text-to-speech, and style transfer technologies are converging to revolutionize language translation
  3. Ubiquitous translation will greatly increase global connectivity, impact labor markets, and present investment opportunities in software, hardware, and geographic levels

Trump tariff reprieve could create more risk in Treasury market

Klement on Investing • 1 implied HN point • 29 May 25
💰 Finance Investing
  1. A recent court ruling said Trump overstepped his authority with tariffs. This decision might not help the Treasury market as much as people think.
  2. The news of the tariff reprieve comes with increased risk for investors. They need to be cautious moving forward.
  3. Overall, this situation shows how political decisions can impact financial markets. Keeping an eye on these changes is important for investors.

[P] LW: Seeing Possibilities in Activism

Nongaap Investing • 2 implied HN points • 11 Jan 25
💼 Business Investing
  1. The article focuses on the effectiveness of activist campaigns, specifically discussing how Jana approaches them.
  2. It highlights the idea of using 'carrot and stick' incentives in activism, which means offering rewards for positive behavior while also applying pressure when needed.
  3. Overall, the piece encourages readers to see potential in activism and how it can lead to meaningful changes.

Corporate site visits are a win-win

Klement on Investing • 1 implied HN point • 28 May 25
💼 Business Investing
  1. Corporate site visits help investors understand how a company works and improve trust. They can lead to more accurate forecasts and stable share prices.
  2. Aligning the company's information with investor concerns during these visits is really important. If the answers match the questions, it makes the visit more effective.
  3. Investors should take the chance to attend site visits. Even if the company can't share all the details, learning about the people and processes can help them make better investment decisions.

My System

Malt Liquidity • 8 implied HN points • 26 Aug 23
💰 Finance Investing
  1. Chess is a 'symptom' of intelligence, not a sign of it.
  2. Chess skills are transferable to other high-pressure situations like trading.
  3. Learning to consciously calm down can improve performance in challenging situations.

Oh those share price forecasts

Klement on Investing • 6 implied HN points • 03 Jan 24
💰 Finance Investing
  1. Analyst forecasts and strategist forecasts often differ in predicting market outcomes.
  2. Strategists tend to be more pessimistic while analysts are generally overly optimistic.
  3. Relying on market forecasts for investment decisions may not be the best approach as accuracy is often low.

Investing's Big Blindspot.

What's Important? • 9 implied HN points • 29 Apr 23
💰 Finance Investing
  1. Expert investors focus on wisdom over intelligence, using intuition and flexibility to navigate complex situations.
  2. Becoming a wise investor requires virtues like curiosity, skepticism, and humility, rather than just intelligence.
  3. Openness and experience help experts build intuitive databases, making them more adaptable and successful in unpredictable environments.

[P] HSY: Kiss-and-Tell Governance

Nongaap Investing • 2 implied HN points • 12 Dec 24
💼 Business Investing
  1. Hershey is showing signs of potential mergers and acquisitions. This might mean they are looking to grow through buying other companies.
  2. The governance style at Hershey focuses on transparency and communication. This can help build trust with investors and stakeholders.
  3. Investors should pay attention to any signals from Hershey about their future plans. These signals can give clues about the company's direction and strategy.

The Tesla Mafia - $40bn raised, 10 countries

Golden Pineapple • 5 HN points • 16 Feb 24
💼 Business Investing
  1. The 'Tesla Mafia' comprises former Tesla executives who have gone on to found their own successful ventures, collectively raising over $40 billion.
  2. Clean energy and e-mobility are the top sectors for the Tesla Mafia startups, followed closely by software development.
  3. Stanford University has been the top choice for alma maters of founders in the Tesla Mafia, highlighting the strong educational background of these entrepreneurs.

[P] EVLV: Scanning for Upside

Nongaap Investing • 2 implied HN points • 10 Dec 24
💰 Finance Investing
  1. A new CEO is joining the company and there's hope for a positive change in the future.
  2. The company has faced difficulties, but there might be opportunities for growth ahead.
  3. Investors are being encouraged to keep an eye on potential upsides as changes take place.

Issue #138: Robinhood Acquires TradePMR, Revolut’s ATM Play, And UPI Continues To Go Global

Fintech Radar • 2 implied HN points • 28 Nov 24
💰 Finance Investing
  1. Robinhood has bought TradePMR to expand its services for financial advisers, showing it's serious about growing in the wealth management area. This move is part of a wider trend where fintech companies are trying to offer more services to their users.
  2. Revolut is planning to introduce an AI assistant, branded ATMs, and mortgage options by 2025. These additions reflect their aggressive approach to compete in the traditional finance space beyond just banking.
  3. Google Pay is now incorporating buy now, pay later options from Afterpay and Klarna. This shows that big tech companies want to partner with existing services instead of directly competing in the financial sector.

Riding the wave, cynically

Klement on Investing • 5 implied HN points • 16 Jan 24
💰 Finance Investing
  1. Investors often ride the wave of overvalued stocks based on optimism of others.
  2. Cynical investing involves profiting from unwarranted optimism in the market.
  3. Investing in bubbles can be dangerous as investors may quickly change their belief, causing losses.

What makes a market ‘look risky’?

Klement on Investing • 2 implied HN points • 27 Nov 24
💰 Finance Investing
  1. How股票价格表现过往的涨跌次数会影响投资者的风险感知。投资者会觉得涨得多的股票更安全。
  2. 如果股票的涨跌超过某个时间段集中在一起，投资者会觉得这支股票风险更高，因为可能面临连续的亏损。
  3. 最近的表现越好，股票看起来越吸引人，风险感知也会降低。人们倾向于基于最新的结果来做决策。

A Do-it-yourself (DIY) Valuation of Tesla: Of Investment Regrets and Disagreements!

Musings on Markets • 19 implied HN points • 07 Feb 20
💰 Finance Investing
  1. Value of Tesla can change based on different factors like growth, profitability, investment, and risk. Each of these areas can greatly influence how much the company might be worth in the future.
  2. Investors should research and make their own estimates for Tesla's future. It's important to look at company performance and market trends to form a realistic view.
  3. Disagreements about Tesla's value are normal and part of investing. Investors should stick to their own valuations and beliefs without getting swayed by market noise.

Operating Yield

The Valley of Dunning-Kruger • 8 implied HN points • 10 May 23
💼 Business Investing
  1. Operating Yield compares a company's Net New ARR production to its total expenses, showing efficiency in growth.
  2. Operating Yield can be used on any SaaS business, making it a versatile efficiency metric.
  3. Operating Yield, along with Magic Number and Efficiency Score, forms a comprehensive analysis trifecta for evaluating growth efficiency.

Consider the Leverage

Malt Liquidity • 6 implied HN points • 18 Oct 23
💰 Finance Investing
  1. Leveraged ETFs can erode value due to volatility and past performance may not predict future outcomes.
  2. Leveraging in bull markets can lead to gains, but may not be efficient in the long term.
  3. Market behavior can change due to interest rates and backtesting strategies may need to account for different regimes.

The most sophisticated test of ESG fund performance, yet

Klement on Investing • 2 implied HN points • 18 Nov 24
💰 Finance Investing
  1. Studies show that ESG funds and conventional funds have similar returns, typically around 0.2% to 0.3% difference per year. This means investing in ESG doesn't significantly affect your returns.
  2. Critics argue ESG funds often perform slightly worse than traditional ones, which raises questions about the returns of sustainable investing.
  3. Overall, recent research found no significant difference in performance between ESG and conventional funds, which may disappoint both supporters and opponents of ESG investing.

📈 My outlook for algae bioremediation in 2024?

paxtier • 5 implied HN points • 03 Jan 24
🔬 Science Investing
  1. Algae bioremediation faces challenges like wastewater treatment methods and integration with existing infrastructure
  2. Positive market signals in 2023 for algae bioremediation including government support and innovative projects
  3. Recent developments include Zanzibar seaweed production increase and Inalve raising €2 million for microalgae production