From Hedge Fund Analyst to Independent Publisher: How Asian Century Stocks Built a Six-Figure Research Business

My newsletter: https://simonowens.substack.com/

Michael Fritzell doesn't fit the typical profile of a newsletter writer. Before launching Asian Century Stocks, he spent 15 years inside the machinery of global finance — working in investment banking and eventually managing money for a wealthy family in Singapore. A Swedish native who studied Chinese at Peking University, Michael built a career analyzing overlooked equities across China and Southeast Asia. When he struck out on his own to launch the Asian Century Stocks newsletter in 2021, he wasn't experimenting with a side hustle — he was walking away from a traditional finance track to build a niche media business focused on Asian stocks that most Western investors ignore

Launched on Substack and now operating independently, Asian Century Stocks sells in-depth, 40- to 60-page research reports to paying subscribers, many of whom are professional investors accustomed to paying banks tens of thousands of dollars a year for comparable research. Michael positioned himself as a bridge between local Asian markets and global capital — offering deeply reported, independent analysis without the conflicts that often accompany sell-side research.

In an interview, he explained how he went from anonymous finance professional to six-figure recurring revenue newsletter operator, why he ultimately left Substack for Ghost, and what it takes to monetize serious financial research in a tightly regulated industry.