Edge | Armin Hartl | Substack
Edge
Ex-PE/HF investor | I break down asymmetric value opportunities in unloved industries so we can invest in fewer, better assets (no advice) | 📚 Company deep-dives, industry reports and portfolio breakdowns | 📈 35% CAGR (May-22 to Apr-26)
By Armin Hartl
· Launched 9 months ago
A guide to who I am, my qualifications, returns and philosophy
Mar 20•Armin Hartl
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Most Popular
Jan 14•Armin Hartl
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March 2026 | YTD performance of +11.25%
Apr 1•Armin Hartl
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79% Revenue Growth, 27% FCF Margin and 100% Re-investment Rate at 30% Unit Economics
Apr 9•Armin Hartl
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Met Coal | What 1,293 Iron and Steel Plants Tell You about Global Demand, Supply and Prices
May 19•Armin Hartl
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Upgrade For Data-driven Analyses Helping Me Deliver an Anualized Return of 35%
Recent posts
Blue Ant Media (BAMI) | Management's Playbook
A serial acquirer in the making? This goes beyond my 3x base case
Jun 11•Armin Hartl
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Here's the market structure for the next decade, backed by real projects
May 19•Armin Hartl
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Offshore Drillers | Q1 2026 Market Round-up [$RIG $VAL $NE $SDRL]
90% utilization has been replaced with something better
May 11•Armin Hartl
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April 2026 | YTD performance of +11.87%
Here's where I see outperformance potential
May 1•Armin Hartl
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[BAMI.TO] Blue Ant Media | 2026 Q2 Earnings
Revenue Grew 82%, Stock Fell 12.5% | Is the Thesis Broken?
Apr 16•Armin Hartl
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79% Revenue Growth, 27% FCF Margin and 100% Re-investment Rate at 30% Unit Economics
A niche security equipment manufacturer is penetrating the North American market rapidly
Apr 9•Armin Hartl
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