About TheOldEconomy and its author

I am Mihail, a market participant, reader, and analyst. I manage my media platforms, Investo.bg and TheOldEconomy Substack, which are dedicated to investors seeking unconventional Alpha ideas.

My investing style expresses the intersection between engineering and humanitarian thinking. In my analytical process, I use a blend of big-picture analysis (geopolitics + macro), fundamentals, and technical analysis. I am focused on old-economy businesses such as shipping, mining, banking, and energy.

You are in the right place if you are looking for asymmetric investment ideas.

What do I offer?

Everyday investors are focused on liquid and popular companies. However, that comes with a drawback: day by day, there is less Alpha to extract from those markets.

The problem

The markets are getting more efficient, especially in the most liquid stocks, i.e., the Red Ocean. This means there is less Alpha to harvest. We must look elsewhere, the Blue Ocean, where Alpha resides.

This means dissecting overlooked and even hated ideas. Old-economy industries like shipping, mining, banking, and energy come to mind.

Okay, understood. To gain Alpha, we must invest in old-economy businesses.

However, there is another issue. A comprehensive analysis of such companies comes at a steep price, prohibitive for most retail investors.

Nevertheless, retail platforms like Seeking Alpha give a glimpse into obscure ideas. Even so, they have three shortcomings:

• Too many analyses, so the investor falls into the paradox of choice trap

• Most of the articles are superficial, focusing on generic metrics and data.

• Missing one crucial part – risk management, i.e., timing and position sizing

So, my goal is to democratize Alpha by making it possible for everyday investors to invest in old-economy businesses. Moreover, two preconditions must be met: top-notch quality at an accessible price.

And here comes my proposition.

The Old Economy solution or what I get as a paid subscriber?

My solution is straightforward. I emphasize:

• More signal, less noise

• A comprehensive reports

• Risk management tools

These come down to :

• Monthly stock pick: a report that includes a macro overview, sector/industry discussion, company fundamentals, and timing + position sizing.

• A portfolio that includes all critical metrics: names, size, and risk. Updates will be posted weekly.

Sounds tempting. How to get in?

I bring three options to the table:

• Free: Every week, I publish an article dedicated to investing. The main focus is old economy industries: energy, shipping, mining, and banking. Despite that, I cover variable topics, from industry primers and region discussions to “how-to” articles and philosophical essays.

• Monthly: once a month, you receive a deep dive report of one company plus access to my portfolio.

• Annual: For 50% cheaper than subscribing monthly, you receive 12 deep-dive reports and access to my portfolio.

• Institutional: a subscription for hardcore market adventurers. It includes all the perks from the Annual plan, quarterly “The Long and Boring Report,” and monthly “Ask me anything” video call.

Can I take a test drive?

Yes, of course. Please visit the Test Drive section. It answers the question: What will I miss if I do not become a paid subscriber?

In the Test Drive section, you will find the following:

• Reports representing the monthly stock picks you will receive once per month.

• My portfolio and my investing approach are explained in five points.

For a sample of “The Long and Boring Report,” please get in touch with me by DM or at office@investo.bg.

You can take a look at my work for Seeking Alpha and Emerging Real Estate Digest. Take a peek at the links below:

My articles for Emerging Real and Emerging Business:

Milei’s Historic “Pacto de Mayo” to Revive Argentina’s Economy and Real Estate Market

Navigating the Platinum Market: The Role of South Africa's 2024 Elections

My reports for Seeking Alpha:

Afya: Asymmetric Bet On The Solid Brazilian Demography And A Great Business

Denison Mines: Top Projects, Robust Balance Sheet, And Deeply Undervalued

BBVA: Macro Bet On Turkey And Mexico's Growth Potential For Income-Minded Investors

Agnico Eagle: Asymmetric Bet On Gold With Capped Downside Using LEAPS Options

Everything described in this site, TheOldEconomy.substack.com, has been created for educational purposes only. It does not constitute advice, recommendation, or counsel for investing in securities.

The opinions expressed in such publications are those of the author and are subject to change without notice. You are advised to do your own research and discuss your investments with financial advisers to understand whether any investment suits your needs and goals.