Belanger Trading

Investor Due Diligence Report

by Josh Belanger

substackFinance

How trading the markets looks from an ex-Wall Street trader -- the good and the ugly.

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Key Metrics

Subscribers

326K

8.3K paid

Verified

Weekly Growth

-0.1%

Paid Sub Retention (30d)

-0.3%

net churn

Revenue Analysis

Pricing

$1400/mo

$15000/yr annual option

Est. Monthly Revenue

$374K

8.3K paid subs

$374K/mo – $374K/mo(±0%)

Quality & Publishing

Audience Quality Score

49Fair

0100

Publishing Pace

Weekly

0.8 posts/week

Publishing Consistency

30/100

Variable (~8.8d avg)

Competitive Landscape (Finance)

Newsletter	Subscribers	Weekly Growth	Price	Platform
Linas's Newsletter	134K	+1.7%	$34/mo	substack
Money Tips Money Hacks	127K	+2.5%	$7/mo	substack
Fintech Blueprint 🤖🏦🧭	110K	N/A	$15/mo	substack
The Intellectual Investor	103K	N/A	Free	substack

Revenue Trajectory

Estimated monthly revenue over time

Month	Subscribers	Est. Revenue	Change
Feb 2026	328K	$432,855	—
Mar 2026	327K	$431,505	~0%
Apr 2026	327K	$431,505	~0%
May 2026	326K	$430,200	~0%

Risk Assessment

Key risk factors for due diligence

High

Platform Dependency

Hosted on substack subdomain

High

Publishing Consistency

Irregular publishing pattern

Medium

Key Person

Single-author publication — key-person dependency

Low

Revenue Model

Active paid subscription tier

Monetization Readiness

Monetization status

Subscriber threshold

326K subscribers — above the 3K category median for first paid tier

Has paid tier

Active paid subscription offering

Peer monetization

100% of 13 similar-size peers in Finance have paid tiers

Pricing position

$1,400/mo vs $10/mo category median (1214 newsletters)

Pricing History

Date	Monthly	Annual
Mar 2026	$1,400	$15,000

Data Quality

Report Data QualityFull - All metrics available

Subscriber Confidenceverified

Disclaimer: This report is generated automatically based on publicly available data and proprietary estimation models. Estimated subscriber counts are derived from engagement patterns and should be verified through direct disclosure. Revenue estimates are based on known pricing and estimated paid subscriber counts. This report is for informational purposes only and should not be the sole basis for investment decisions.

Component	Score	Weight
Engagement Rate	0/100	30%
Paid Subscriber Ratio	78/100	25%
Growth Consistency	99/100	15%