The Best Finance Substacks to Read in 2026

*Bags of Money — Best Independent research on stocks, macro, markets, and investing.*

1. Bags of Money

Best for: Independent macro and stock research

Bags of Money focuses on the parts of markets that investors often overlook.

The publication covers global macro, stocks, currencies, commodities, and market structure.

Its research often starts with a simple question.

What is the market missing?

Recent research has looked at topics such as the Japanese yen, the Indian rupee, AI infrastructure spending, corporate cash flow, debt, and valuation.

The goal is not to publish another market summary.

It is to connect macro trends with individual companies and investment ideas.

For readers who want independent finance research rather than daily market news, Bags of Money is worth following.

Read: Bags of Money on Substack

2. Citrini Research

Best for: Thematic investing

Citrini Research has become one of the best-known finance publications on Substack.

It focuses on large market themes.

Recent work has covered AI, healthcare, electronic warfare, and US fiscal policy.

The publication is known for turning broad themes into specific investment ideas.

Substack currently ranks Citrini Research first among its finance publications.

3. Cassandra Unchained

Best for: Market bubbles and contrarian analysis

Cassandra Unchained is the publication of Michael Burry.

Burry became famous for identifying the housing bubble before the 2008 financial crisis.

His Substack focuses on stocks, markets, bubbles, and historical patterns.

The research often takes a contrarian view.

That makes it useful for investors who want to question popular market narratives.

Substack currently ranks Cassandra Unchained among its largest finance publications.

4. Doomberg

Best for: Energy, commodities, and geopolitics

Doomberg takes a different approach to financial research.

It connects energy markets with economics and geopolitics.

That matters because commodity prices can affect inflation, currencies, interest rates, and corporate profits.

The publication is particularly useful for readers who want to understand energy markets beyond daily oil-price headlines.

Substack currently ranks Doomberg among its top finance publications.

5. Capital Wars

Best for: Global liquidity

Michael Howell’s Capital Wars focuses on global liquidity.

The research looks at how money moves through financial markets.

That includes liquidity cycles, credit, central banks, bonds, equities, and cryptocurrencies.

This is useful for investors who want to understand the macro forces behind asset prices.

Capital Wars is currently among Substack’s top finance publications.

6. Compounding Quality

Best for: High-quality companies

Compounding Quality focuses on businesses with strong fundamentals.

The research often examines competitive advantages, profitability, cash generation, and long-term growth.

It is useful for investors who prefer owning strong businesses over trading short-term market moves.

Its recent research also examines valuation and stock-based compensation.

7. TMT Breakout

Best for: Technology and AI stocks

TMT Breakout focuses on technology, media, and telecommunications.

It combines market news with company analysis and Wall Street research.

The publication is particularly useful for investors following AI and technology stocks.

Substack currently lists it among its leading finance publications.

8. Capital Flows

Best for: Macro trading

Capital Flows focuses on rates, foreign exchange, and equities.

Its research looks at the current macro regime.

It is designed for readers who care about how changes in rates and currencies affect markets.

Substack currently lists Capital Flows among its top finance publications.

Which Finance Substack Should You Read?

There is no single best publication for every investor.

It depends on what you want to learn.

For independent macro and stock research: Bags of Money

For thematic investing: Citrini Research

For bubbles and contrarian ideas: Cassandra Unchained

For energy and geopolitics: Doomberg

For global liquidity: Capital Wars

For quality companies: Compounding Quality

For technology and AI: TMT Breakout

For macro trading: Capital Flows

The best approach is to read several.

One publication can help you understand the macro environment.

Another can help you find companies.

A third can challenge your assumptions.

That combination is often more useful than following one market commentator.