Beyond the Surface
Stone Mountain ResearchBi-Weekly deep dives with audio walkthroughs and visual breakdowns. Complex businesses, made clear — for investors who want to understand what they own.
| Platform |  | Pricing | Freemium | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 13 | Founded | 5 months ago | Last Issue | 23 hours ago |
| Active | |||||
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stonemountainresearch.substack.comLatest Issues
Celsius: The Next Monster? A 2026 Deep Dive
Global energy-drink retail sales and year-over-year growth; 2025E–2030E are estimates. Source: 2026 Pershing Square Challenge presentation on Celsius (GlobalData).
Prefer to listen? The audio walkthrough covers the key points, but the full...
11 Investing Mistakes You're Probably Making Right Now
In 2024 the S&P 500 returned 25.05%. The average equity fund investor earned 16.54%. That gap of 848 basis points was the second-widest of the past decade, and it extended a long streak: the average investor has now underperformed the index...
Mercado Libre: Latin America's Compounding Machine 2026 Deep Dive
How MercadoLibre turned a regional vacuum into an $80 billion business — and what the next decade looks like
Prefer to listen? The audio walkthrough covers the key points, but the full analysis — data, charts, and scenario models — lives i...
Kaspi: A Fintech Monopoly Most Investors Have Never Heard Of (Part 2/2)
A $14 billion fintech monopoly growing 60% a year with a 10% dividend yield. The market is pricing it like a distressed bank. Part 2/2
Kaspi.kz is the most dominant consumer platform most investors have never heard of, a super app used by...
Kaspi: A Fintech Monopoly Most Investors Have Never Heard Of (Part 1/2)
Spend an afternoon paying for things in Almaty, Kazakhstan's largest city and commercial capital, and a pattern emerges: no card terminals at small merchants, no PIN pads, no contactless readers, just a QR code taped to the counter and the...
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The writers behind this newsletter.
I help investors find compelling opportunities that build long-term wealth through deep research and education. Independent research. Toronto, Canada.
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