Investing Newsletters
Investing Newsletters
PiggyBack's Newsletter Recommendations. Most cover investing niches. Many cover more or less related aspects of the world that we find interesting. All offer unique views and voices. (Recommendations)
“Look at this generation, with all of its electronic devices and multi-tasking. I will confidently predict less success than Warren, who just focused on reading. If you want wisdom, you’ll get it sitting on your ass.”
— Charlie Munger, American Value Investor & Businessman
Source: Whitney Tilson’s 2007 Wesco meeting notes. As Vice Chairman of Berkshire Hathaway, Munger refers to Chairman and CEO Warren Buffett. Berkshire increased its pre-existing 80% majority holding in Wesco to 100% in 2011.
This article features PiggyBack’s Newsletter Recommendations. Most correspond to our current Substack Recommendations. Publishing it in article form provides a categorized presentation that interested readers can opt-in to revisit. It also allows for adding more, worthy non-Substack publishers over time.
As with our podcast Recommendations, we extend to investing-related complementary perspectives and topic areas.
Last update of Recommendations: August 9, 2022
Note: (1) The categorizations are highly subjective. (2) The order is not a ranking. (3) Recommendations refer to free content value. (The value of the authors’ paid or promoted services is up to each reader to decide.) (4) There may be updates with new, free content publications in due time. (5) Not all Recommendations suit the needs, interests, or tastes of all PiggyBackers. Look at this more as a smorgasbord.
Value-Investing Newsletters
Asian Century Stocks
“Premium Asia Pacific Equity Research. Mr. Fritzell is both a thoughtful investing guide and a picker of the region's best value stocks.”
— Johan Eklund, PiggyBack
Author / Twitter:
Michael Fritzell, Author of Asian Century Stocks / @AsianCenturyStx, @Fritz844
The Special Situations Report
“A great overview of U.S. special situations. Mr. Paolella provides condensed, current curation of deal rumors, announcements, and implications. The value-tilted equity write-ups hopefully hint at more to come.”
— Johan Eklund, PiggyBack
Author / Twitter:
David Paolella, Founder & Writer at The Special Situations Report / @SpecialSitEmailm, @InvestedComms
TSOH Investment Research Service
“Compounding high-quality business analysis. Mr. Morris shares his concentrated, long-term, U.S. quality stock investing.”
— Johan Eklund, PiggyBack
Author / Twitter:
Alex Morris, CFA, Long-term Investor / @TSOH_Investing
Valuabl
“Mr. Simms runs a proper fortnightly (two-week) value investing journal that picks apart just about anything that can be valued. With classic comics and all.”
— Johan Eklund, PiggyBack
Author / Twitter:
Edmund Simms, Private Investment Partnership Manager & Author, @ValuablOfficial
Value Situations
“Public value investing through a private equity lens. The free edition of Mr. Maguire's Premium Equity Research offering covers actionable, special situation stocks. U.S. and European Small/Mid cap tilt. For professionals.”
— Johan Eklund, PiggyBack
Author / Twitter / LinkedIn:
Conor Maguire, Author / @ValueSituations / LinkedIn
Value Investing World
“News from around the value investing world and learning inspiration that goes far beyond. The free edition uses the most time-efficient format possible: a link list. With sparse, thoughtful context added by the publication's curator, Mr. Koster.”
— Johan Eklund, PiggyBack
Author / Twitter:
Joe Koster, Founder & Portfolio Manager at Sorfis Investments
/ @VInvestingWorld, @jtkoster
Yet Another Value Blog
“Fast-paced and in-depth on quirky situation value stocks. Mr. Walker’s free edition provides both U.S. thematic and single ticker insights and a podcast on activism and cases.”
— Johan Eklund, PiggyBack
Author / Twitter:
Andrew Walker, Portfolio Manager and Head of Research at Rangeley Capital, Part-time podcast host and blogger / @AndrewRangeley
Investing & Trading Newsletters
A Peek Behind the Numbers
“Stock market earnings games put the investing public at a clear disadvantage. Management and IR spin stock storytelling with nonsense ‘headline’ adjustments. Accountants sign off aggressive GAAP management. PBN's analysis helps investors see the underlying earnings quality.”
— Johan Eklund, PiggyBack
Author / Twitter:
Behind the Numbers / @PeekBTN
Alpha Exchange
“Focused discussion on option-market fundamentals and technicals.”
— Johan Eklund, PiggyBack
Author / Twitter:
Dean Curnutt, CEO Macro Risk Advisors / @Dcurnutt
Alpha Exchange is also featured among PiggyBack’s Podcast Recommendations.
Convexity Maven
“Options opportunities for fundamental macro trades. Derivatives pioneer Mr. Bassman teaches improved upside and limited downside (long convexity) common-sense investing. Risk-reward lessons for long-term investors. Trades for traders and professionals."
— Johan Eklund, PiggyBack
Author / Twitter:
Harley S. Bassman, Managing Partner at Simplify Asset Management / @ConvexityMaven
(Note: Convexity Maven is not published on Substack. Use title headline link.)
Equity Ideas
“Quality business-focused fundamentals in a quick read format. Aspiring investor Mr. Olsson's new newsletter is promising. The initial coverage mixes Nordic and U.S. stocks, with Swedish serial acquirers as a particular interest.”
— Johan Eklund, PiggyBack
Author / Twitter:
Markus Olsson / @markusolsson
Invariant
“Thoughtful fundamental investing writing leveraging the arts and history.”
— Johan Eklund, PiggyBack
Author / Twitter:
Devin LaSarre, Strategist, Designer & Investor / @DevinLaSarre
Investment Talk
“Investing learning and curation from a clear, value-add voice. Plus Mr. MacNiel’s thoughtful business-oriented equity deep dives.”
— Johan Eklund, PiggyBack
Author / Twitter:
Conor MacNeil, Investment Writer / @TheITNewsletter
Musings on Markets
“Corporate finance thinker, author, and teacher extraordinaire. Mr. Damodaran teaches how to actually invest by using valuation. While providing a wealth of investing insight and data.”
— Johan Eklund, PiggyBack
Author / Twitter:
Aswath Damodaran, Professor of Finance / @AswathDamodaran
Neckar’s Minds of the Market
“Behavioral lessons, big ideas, and transformative events in the lives of interesting investors. Mr. Gieschen’s elegant essays also feature the personal journey of trying to find our true selves.”
— Johan Eklund, PiggyBack
Author / Twitter:
Frederick Gieschen, CFA, Investing & Media / @NeckarValue
Stay Vigilant
“Thoughtful cross-asset strategy. Mr. Rich Excell’s breakdown of complex macro market issues leverages the experience of a market veteran using Fundamental, Behavioral, and Catalyst lenses. Markets can seem deceptively easy. So Stay Vigilant.”
— Johan Eklund, PiggyBack
Author / Twitter:
Richard Excell, CFA, Finance Professor & Market Veteran / @ExcellRichard / LinkedIn
Just branching out to Stay Vigilant podcasts, Mr. Excell is an experienced host of the CFA Society Chicago podcast, a PiggyBack Podcast Recommendation.
The Morning Hark
“Investment professional? Drowning in macro morning trading briefs? With The Morning Hark, you get one that is super-powered by the financial content wisdom of the crowd.”
— Johan Eklund, PiggyBack
Author / Twitter:
Harkster, Financial Content Curation Library (with iOS app) / @HarksterHQ
The Macro Compass
“The not boring macro strategist. Mr. Peccatiello provides a clear language translation of macro mechanics in play in big, global asset markets. Professionals get current market sentiment readings and shorter-term tactical trading calls.”
— Johan Eklund, PiggyBack
Author / Twitter / LinkedIn:
Alfonso (Alf) Peccatiello, Author The Macro Compass / @MacroAlf / LinkedIn
Mr. Peccatiello co-hosts The Macro Trading Floor, a PiggyBack Podcast Recommendation.
The Weekly S&P500 #ChartStorm
“This free collection of mostly U.S. equity visuals is a must for anyone closely following the markets. Mr. Thomas is a master chartist in both the fundamental and technical realms.”
— Johan Eklund, PiggyBack
Author / Twitter:
Callum Thomas, Head of Research at Top Down Charts / @Callum_Thomas
The Transcript
“Expert human conference call curation. Investing insights quote by quote.”
— Johan Eklund, PiggyBack
Author / Twitter:
Erick Mokaya, CFA, Lead Author / @ekmokaya, @TheTranscript_
Scott Krisiloff, CFA, Editor / @Skrisiloff, @TheTranscript_
Tuttle Ventures Newsletter
“Tuttle Ventures advocate value-oriented, active stock portfolios. Mr. Tuttle shares to-the-point insights on strategy, value cases, and timely tactical positions.”
— Johan Eklund, PiggyBack
Author / Twitter:
Darin Tuttle, CFA, Founder & CIO Tuttle Ventures / @TuttleVentures, @Darin_T80
Variant Perception Blog
“Tactical, cyclical, and structural indicator insights for investment professionals. Team Variant Perception's free briefs cover the global economy and major markets. Free of charge and free of guru calls.”
— Johan Eklund, PiggyBack
Author / Twitter:
Variant Perception (VP Research Inc), Investment Research Firm / @VrntPerception
Corporate Distress & Short-Selling Newsletters
Fundamental investing learning also takes place when we invert to look at public company failures. Here we find everything from the truly unlucky, the delusional-level overvalued glamour stocks, the overaggressive borrowers, the strategic or governance failures, and the downright frauds. (Many of which professional speculators can try to actively profit from by short-selling. Not a recommendation to general public readers.)
PETITION
“Insights into the world of corporate distress. PETITION digs out the documents, connects the dots, and translates the boilerplate. Leading up to, during, and out of restructurings and bankruptcies.”
— Johan Eklund, PiggyBack
Author / Twitter:
Petition LLC, Publisher (authors are anonymous) / @petition
The Bear Cave
“Mr. Dorsey provides bearish fundamental theses for mainly U.S. stocks. Companies with alleged red flag risks to valuations and operations. We may not agree, but this criticism is important information discovery.”
— Johan Eklund, PiggyBack
Author / Twitter:
Edwin Dorsey / @BearCaveEmail/@StockJabber
Business, Economics, Finance & Technology Newsletters
The broadest collection of categories. Here many of our Substack favorites offer unique niche intersections between different perspectives and topic areas.
AI Supremacy
“Machine Learning and AI look like one of those rare cases where the impact of new technological applications runs faster and far beyond the imagination of mainstream hype. Mr. Spencer guides both business-oriented technologists and the rest of us with clear, critical coverage.”
— Johan Eklund, PiggyBack
Author / Twitter / Linkedin:
Michael Spencer, Indie Writer & Futurist /
@AISupremacyNews, @MichaelKevinSp2 / LinkedIn
Intrinsic Value by Roger Lowenstein
“Intrinsic Value by Roger Lowenstein / free price = infinite yield. Very current financial world thoughts from a long-time journalistic legend and best-selling author.”
— Johan Eklund, PiggyBack
Author / Twitter:
Roger Lowenstein, Author / @RogerLowenstein
kyla’s Newsletter
“Ms. Scanlon distills the economy where humans live. With full-on curiosity, data-driven reflection, and creative visuals.”
— Johan Eklund, PiggyBack
Author / Twitter:
Kyla Scanlon, Founder of Bread (Financial Education company) / @kylascan
Liberty’s Highlights
“Connecting silos of finance, technology, media, entertainment, and arts. (Pseudonymous) Mr. Liberty's human curation highlights offer value-add learning and inspiration. All coated in emojis.”
— Johan Eklund, PiggyBack
Author / Twitter:
Liberty, (Pseudonymous) Curator & Investor / @LibertyRPF
Net Interest
“Financials specialist Mr. Rubenstein makes sense of our global economy's complex financial plumbing. Great essays on timely topics.”
— Johan Eklund, PiggyBack
Author / Twitter:
Marc Rubenstein, Finance Writer / @MarcRuby / LinkedIn
Quantum Foundry
“For the non-technologist Quantum Computing may not yet look like a high probability, near-term 'no-brainer'. But the impact of successful commercialization could push boundaries for humankind within our lifetime. To stay ahead, follow Mr. Spencer's clear and critical coverage.”
— Johan Eklund, PiggyBack
Author / Twitter / Linkedin:
Michael Spencer, Indie Writer & Futurist / @MichaelKevinSp2 / LinkedIn
The Diff
“Deep insight into developing and structural trends in finance and technology. Trends that make a difference for slower-moving parts of the economy and society.”
— Johan Eklund, PiggyBack
Author / Twitter:
Byrne Hobart, CFA, (Founding) Writer / @ByrneHobart
Team / Twitter:
Jack Wiseman, Research & Operations (joined August 2021) / @jackrwiseman
Personal Finance Newsletters
Good personal finance writers offer down-to-earth, real-world financial education. Here are two such new acquaintances of PiggyBack.
Beachman’s Newsletter
“Pseudonymous early retiree Mr. Beachman shares and reflects on his practical, long-term investing. No-nonsense, common-sense personal finance, with unpolished successes and mistakes to learn from.”
— Johan Eklund, PiggyBack
Author / Twitter / Linkedin:
Beachman (pseudonym) / @Iwannabeontheb2
Broke Millennial with Erin Lowry
“For most adults, life offers its fair share of quite complex personal financial decisions. Serial author Ms. Erin Lowry is a great translator of such money matters in a voice that makes sense to people.”
— Johan Eklund, PiggyBack
Author / Twitter:
Erin Lowry, Financial Translator & Author / @BrokeMillennial
Digital Media Newsletters
What is happening to the overall digital and social media landscape? This section is probably most relevant for readers investing in or working in digital media businesses. But also for those considering joining or launching projects in the creator economy. And to an extent, to all of us who consume digital and social media.
Creator Economy Tips
“To the point, frank rationality on the fast-developing world of self-published creator content. Mr. Spencer brings indie publishing experience and the grit of a true ‘category pirate’ (running 10+ niche letters).”
— Johan Eklund, PiggyBack
Author / Twitter / Linkedin:
Michael Spencer, Indie Writer & Futurist / @MichaelKevinSp2 / LinkedIn
Hot Takes
“Digital media analysis, marketing strategy, and creator reflections. All direct voice insights. A relief from positivity culture.”
— Johan Eklund, PiggyBack
Author / Twitter / LinkedIn:
Adam Singer, Digital trends blogger & Marketing exec
/ @hottakesstream, @AdamSinger / LinkedIn
Disclaimer: This publication and related communications are for informational and educational purposes only. All readers are assumed to accept the full version of this disclaimer, see the following link.
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Only with the help of early readers will this publication reach a sustainable scale for free, independent insights. Many thanks to all PiggyBackers!
Johan Eklund, CFA
PiggyBack
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