Deep forensic research on quality businesses, from the primary documents up. Skin in the game, always.
| Platform |  | Pricing | Freemium | Publishes | Twice weekly |
|---|---|---|---|---|---|
| Issues | 70 | Founded | 2 years ago | Last Issue | 13 days ago |
| Active | |||||
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bearstone2023.substack.comLatest Issues
Portfolio Update
08/26/2026
Below are all of the positions I am currently in and my allocation to each position. I release an update on my portfolio monthly to all paid subscribers, and real-time trades to founding members. Free members get at least one fr...
Learning Notes
In this article, we will analyze Druckenmiller’s discussion with Scott Bessent in 2019. It is a fascinating interview, and I encourage everyone to watch it, but it is loaded with numbers and moves quite quickly for those who take a bit to p...
Bull to Bear
The investigative process
I took an initial position in this company and, upon further due diligence, decided to exit the position after a 7% gain. As investors, we need to be honest with ourselves and not get too married to our decisions....
Short Thoughts
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Stop Being a Macro Investor
I’ve been circling this idea for a while now, and I think it is a good time to get my thoughts out of my head. Buffett tells us to be fearful when others are greedy and yet, it seems as if the e...
Homebuilders
Current state of the market and my favorite choice
Many investors might be familiar with Norbert Lou. He wrote a very famous Value Investors Club writeup on NVR, and NVR went on to prove him right, compounding at roughly 16-17% for two dec...
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Subscribers, engagement, traffic and sponsorship for Bearstone.
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Authors
The writers behind this newsletter.
Equity Analyst & Founder of Bearstone. I identify wide-moat, high-FCF companies mispriced by short-term sentiment. My research focuses on deep-value rigor and capital preservation. Followed and recommended by Michael Burry.
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