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Independent investment research connecting macro shifts, structural trends, and the businesses positioned to benefit.
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An independent investment newsletter.
Macro Notes is an independent, premium investment newsletter and a Substack Bestseller. We connect global shifts to emerging investment theses, with research on the industries and businesses positioned to benefit.
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Read the original edition Go deeper with our Research & Models. Explore the catalogue →MACRO NOTES / RESEARCH EXAMPLE01
The space economy
Satellite Internet
The suppliers and operators building a new layer of global connectivity from space.
ConnectivityInfrastructureBusinesses
Dedicated thesis indexSnapshot · 07 OCT 2026
Historical total index return+198.6%
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We select and track more than 100 investment theses across AI infrastructure, defense, healthcare, and other emerging opportunities. A broad research universe. A focused monthly selection.
Follow the theses as markets move.
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100+investment theses
in our research universe
in our research universe
AI infrastructureDefenseHealthcareAnd beyond
Examples from our research universe
Swipe to explore the theses →
Actuators, Sensors & Smart Motors
+123.3%Total index return
The components that let robots sense, move, and interact with the physical world.
Read the edition ↗
Precision Oncology
+205.6%Total index return
Blood-based diagnostics that help detect cancer, guide treatment, and monitor recurrence.
Read the edition ↗
Satellite Internet
+198.6%Total index return
The suppliers and operators building a new layer of global connectivity from space.
Read the edition ↗
Submarine Cables
+217.7%Total index return
The undersea networks carrying data between continents as demand for connectivity grows.
Read the edition ↗
Selected Macro Notes Terminal index snapshots, recorded on October 7, 2026. Curves redrawn from the supplied snapshots. These examples are a selection, not the full research universe; index returns are not subscriber returns. Past performance does not guarantee future results.
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