An update about this blog
With 6 months passed since regular publishing and also the 200 followers marks passed on my twitter, I thought I could share with my subscribers what are the next steps for this blog.
One part has been a blast. The reports have given me time to dig deep into companies, countries, and sectors I wanted to learn more about. Writing forces me to study much deeper, as I need sources, better visuals, etc... It also created plenty of discussion and additional sources of data on FinTwit.
By the way, I still beat myself to not have joined Twitter years ago. I am not a big social media fan, but FinTwit is really a cascade mine of analysis, data, and brilliant mind pouring at you for free. The best kind of echo chamber!
Fewer reports, better stock pick
On another end, I feel a bit of burnout. I have written 1 report per month while also writing 2-3 similar reports or articles per month as a ghostwriter for my clients. Deep analyses on 4 companies per month, together with other writing jobs, tasks, and family life is quite hard.
In addition, this led me to somewhat run out of good ideas, as I also need to give topic ideas to my clients. I am more and more convinced that the value investing wisdom of "you only need 2-3 good ideas per year" is true. So trying to force 12 report/year into a publishing schedule is going to either exhaust me or lead to a decline in quality. Probably both.
Besides (and I am looking for feedback from my subscribers here), I realize how many newsletters I have to read and how little time I have to do so. Less content, shorter form, and higher quality+density of information are probably the way to go when everybody is starting a Substack and creating a content overdose.
So I think I will switch to 6 company reports per year. They might not be more detailed, but I will do more research on competition, industry, etc... This should be a better use of time than trying to churn out reports too quickly for the sake of it. But again, I am looking for feedback. Would more companies /stock pick ideas, but less deep analysis be preferable?
New types of articles
In addition to the reports, I am also going to write irregularly other formats.
One short format, commenting about recent markets move, investment strategy, one graph, something quick to write but which can be useful for my readers.
One longer open format about a technology, a sector, a trading concept that does not fit the 1report=1company format, but that I feel can be interesting. The next one will be published tomorrow, about the idiocy of green hydrogen.
Ideally, one of each per month, but I am unsure about it.
Moving to Substack
The last change is a technical one. This blog was until now hosted on Ghost CMS. I have nothing bad to say about the technology, but it is clear by now that Substack is a platform with a much greater network effect, and where people are more likely to subscribe.
I know from my own e-commerce how platforms and marketplaces rule over independent websites, and the same holds true for financial newsletters. The pre-filled email address and one-click subscription from a trusted source is unbeatable.
The same format will still hold after migration, all content for free for the foreseeable future, and the minimum possible subscription for the people willing to donate it to support me.
I hope the transition will go smoothly, but if there is any problem, please tell me and I will find what screwed up in the backend.
Eventually.
I am terrible at web management. But I'll make it right.
Glad to have you here, hoping we manage many market cycles together for the years to come.
Jonathan Schramm