Bid Cap FAQ
What is Bid Cap?
Research on public companies, mostly financials: banks, insurers, payments, exchanges and asset managers. The research library also covers many popular companies outside financials. Bid Cap is published by BID LLC.
Is the portfolio real money?
No. Magnus Financials I is a hypothetical $100 million model book. No money is invested and no orders are placed. Returns are simulated after modelled financing, short borrow and 5bps slippage. The record is fingerprinted publicly each day, so it cannot be edited after the fact.
Who is behind Bid Cap?
A 16-year sell-side veteran. Grew up in the financials space. Manages own money for a living. Perpetual learner. Former pro athlete. Truth seeker. Believer in the IQ curve meme for investing.
What do paid subscribers get?
$700 a year or $70 a month, on Substack.
- Daily Database. 390+ financial stocks: price, trend, volume, valuation against each company's own history, and the day's biggest moves. Every weekday before the U.S. open.
- Today's ideas. A long and a short where volume, trend, fundamentals and the earnings call agree, with the reason for each. Inside the database.
- Magnus Financials I. A $100 million long/short model portfolio, tracked daily against SPY and XLF.
- Cheap List. Stocks across six sectors priced below their own history and their peers, with last quarter's earnings beat, the one-month move and analyst targets. New on the 1st of each month.
- Company pages. One page per database company: price, trend and valuation in one place.
- Commentary. Posts on Substack.
What is free?
- Company Library. 406 plain-English reports on 365 companies.
- Higher Rate Bank Screen. U.S. banks ranked by balance-sheet risk: bond losses against capital, deposit mix, funding, margins and trend.
- Proofs. Public fingerprints of the model portfolio's record.
- Free views. A sample of the database and the portfolio.
What is in the Company Library?
Three kinds of report:
- Company report (365). The bet you are really making, the business, key numbers, valuation and a price chart.
- Management and incentives (21). How the people running the company are paid, and what that pushes them to do.
- One Pager (20). The short version.
Sorted by sector: Banks, Insurance, Asset Managers and Investment Banks, Exchanges and Financial Data, Payments and Fintech, Software and Internet, Semis and Hardware, Consumer, Healthcare, Industrials and Energy.
How do I open the database, portfolio and Cheap List?
Each paid Substack post carries the link. Links change every week; the current one is always in the latest paid post.
When does it update?
The database and today's ideas: every weekday morning before the U.S. open, using the prior close. The model portfolio: every weekday. The Cheap List: the 1st of each month.
Where does the data come from?
Company filings (SEC, FDIC Call Reports, and home-market regulators for companies outside the U.S.) and FMP market data. Every column is defined in the database appendix.
Is this investment advice?
No. Observation, not advice. The author may hold positions discussed.
How do I cancel?
In your Substack account settings.
Is there a free trial?
Yes. Substack offers a free trial.
Can I request a company?
Yes. Email hello@thebidterminal.com with the ticker.
Do you own what you write about?
The author may hold positions personally. The model portfolio's holdings are public to paid subscribers.
Is there group or firm pricing?
Yes. Email hello@thebidterminal.com.
How is this different from other newsletters and screeners?
It's better.