About the Company

The TSOH Investment Research service is a subscription-based newsletter offering in-depth analysis and research on investment ideas. Alex Morris provides subscribers with long-term investment strategies and updates on his portfolio. His target audience includes individuals who are looking for a more transparent, detailed, and accountable investment service, with a price point of $49 per month or $349 per year. Substack is used to manage the newsletter, with the platform taking a 10% cut of the revenue.

Morris’s goal with the service is to offer a level of transparency that is often missing in the finance industry. This includes disclosing all portfolio changes before they are executed, quarterly updates, and detailed reports on current holdings and watchlists.

Idea Behind Company

Morris began writing about investments online more than a decade ago as a way to enhance his resume while in college. Over time, it became a valuable tool for networking and generating income. Inspired by other successful financial writers, Morris saw an opportunity to leave the traditional finance industry and build his own transparent investment research service. He differentiated his service by being fully transparent about his investment decisions, sharing both successes and failures with subscribers.

This focus on transparency resonated with his audience, allowing Morris to stand out in a crowded space of financial websites and blogs. His unique approach gave readers insight into his long-term investment strategies, which are often kept hidden by traditional investment managers.

Creating the Company

After deciding to start his business, Morris initially planned to host the service on his own website. However, he quickly realized the complexities of managing a website, billing, and other technical details. Substack provided an easier solution, allowing him to focus on the research and writing while they handled the operational side in exchange for a 10% fee.

The first post he shared with subscribers was a complete portfolio review, which set the tone for the transparency that defines his service. Pricing was a key decision, as he wanted to reflect the high value of his offering compared to other similar services. Morris believed that every post should be worth the time of his subscribers, leading him to price the service higher than most at $49 per month or $349 annually.

Launching the Business

Morris officially launched the TSOH Investment Research service in April 2021, sharing it on Twitter and other platforms. His initial goal was to attract around 10 subscribers on the first day and reach 25-30 within the first month. However, the service quickly surpassed these expectations, gaining 60 paid subscribers in the first month. Over the next year, his subscriber base grew steadily, with around 600 paid subscribers by May 2022.

Morris credits much of his early success to his presence on financial Twitter, or “FinTwit,” which allowed him to build a community of engaged followers. His content on Twitter helped drive growth, and his network played a crucial role in the launch of the service.

Earnings

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Today, TSOH Investment Research generates approximately $16,000 per month in subscription revenue, with minimal operating costs aside from Substack’s fee. Morris's goal is to continue growing his subscriber base and expanding the scope of his research, while maintaining the quality and transparency that have driven his success. He aims to widen his circle of competence over the next several years, covering a broader range of companies and sectors, and hopes to build long-term financial success for both his subscribers and his personal portfolio.