Dylan Jovine’s Behind the Markets is one of the better-value stock newsletters in the space. That is not faint praise. The mid-cap focused service has been publishing since 2018, its track record is unusually transparent, and the starting price of $49 per year is low enough that the question is not “should I subscribe” but “what am I actually getting.”
Here is the breakdown.
What Behind the Markets Is
Behind the Markets is a monthly investment advisory service run by Dylan Jovine, a former Wall Street broker and founder of Tycoon Publishing. The service targets mid-cap companies — generally $1 billion to $10 billion in market capitalization — with low debt, high returns on capital, and durable business models.
Subscribers get:
- One carefully researched stock pick per month, published in the flagship newsletter
- Real-time alerts when material news hits a recommended position
- Full access to the model portfolio showing all open and closed positions with entry prices and outcomes
- Special situation briefings when policy shifts, earnings surprises, or geopolitical events affect existing ideas
The service sits under Jovine’s broader Behind the Markets umbrella, which also publishes thematic sub-products like Takeover Targets (M&A-focused), Biotech Insider (biotech equities), and America First Fortunes (defense and manufacturing).
The Track Record
This is where Behind the Markets stands out from most newsletters. The track record is published publicly on the website with specific numbers.
From January 2018 through 2025, the Behind the Markets closed portfolio:
- 70 closed trades
- 72.9% win rate (51 winners out of 70)
- +1,207% total return
- ~39.96% CAGR (compound annual growth rate)
- +39.8% average return per trade
The S&P 500 returned roughly 150-180% over the same period. The Nasdaq returned about 250-280%. A 39.96% CAGR significantly outperformed both indices.
Some notable winners from the track record: ChemoCentryx (+336%), Krystal Biotech (+275%), Rocket Lab (+145%), C3.ai (+133%), and Axon Enterprise (+129%). The portfolio also showed resilience during down markets — Intelsat returned +239% during the 2018 pullback, and McDonald’s and Hershey both posted positive returns during the brutal 2022 correction.
A few caveats. The track record is self-reported and unaudited. A 39.96% CAGR over 70 trades is exceptional — comparable to top-tier hedge fund returns over short periods. Past performance does not guarantee future results, especially with a sample size that includes the longest bull market in history and the post-COVID tech surge. The service had winners on both sides of market direction, which suggests genuine stock selection skill rather than luck. But 70 trades over 7 years averages roughly 10 per year — not a large sample for statistical significance.
What You Pay
Behind the Markets offers two pricing tiers:
Basic ($49/year): The monthly newsletter, real-time alerts, model portfolio access, and the main Hidden American Inheritance bonus report. This is the entry-level option and covers the core service.
Complete Package ($99/year): Everything in Basic plus all six bonus reports covering AI infrastructure stocks, defense themes, geopolitical analysis, and long-term income ideas. The advertised retail value is $2,396, making this feel like a steep discount.
Both tiers renew at $99/year after the first year. Every subscription comes with a 30-day money-back guarantee. If you cancel within 30 days, you get a full refund and keep any bonus reports you downloaded.
For context, most premium investment newsletters run $100-$200 per year minimum. The Behind the Markets pricing is on the low end — especially considering the track record and the depth of research in each monthly issue.
What You Do Not Get
Behind the Markets is not a day trading service. Jovine publishes roughly one pick per month, with holding periods that run from months to years. If you are looking for weekly trade alerts or short-term momentum plays, this is the wrong service.
It is also not a broad market commentary service. Each issue focuses on one specific stock idea tied to a structural trend. You get the thesis, the research, and the entry guidance. You do not get a daily market newsletter covering every sector and macro move.
The model portfolio is a paper portfolio — it tracks what would have happened if someone followed every recommendation at the stated entry prices. Your actual results will differ based on your entry timing, position sizing, and brokerage fees.
The Current Promo: Hidden American Inheritance
The active promotion for Behind the Markets in 2026 is Hidden American Inheritance — Jovine’s thesis that the U.S. government’s Extended Continental Shelf mapping has opened up $500 trillion in seabed mineral rights. The teased stock is a pre-revenue deep-sea mining explorer trading around $6 per share.
The promo runs the numbers at $500 trillion. Independent estimates (Arthur D. Little) put the Clarion-Clipperton Zone resource closer to $16-30 trillion. The delta matters if you are buying the stock based on the headline figure. Jovine’s core thesis — that critical mineral supply chains are a national security priority — stands regardless of which estimate you use.
The stock is pre-permit, pre-production, and pre-revenue. Jovine does not hide the risk, but the promotional language runs ahead of the independent data. That is worth knowing before you subscribe.
Should You Subscribe?
Behind the Markets is a solid newsletter for a specific kind of investor. If you want one high-conviction idea per month from an analyst with a proven track record in mid-cap value stocks, the $49 entry price is a low bar to test the waters.
If you need frequent trade ideas, short-term setups, or broad market commentary, look elsewhere.
The 30-day refund policy gives you room to evaluate. Sign up, read the first issue, check the model portfolio, and see whether Jovine’s research style fits how you think about stocks. If it does not, you get your money back and keep the bonus reports.
The value proposition is straightforward: 72.9% win rate, transparent track record, $49/year. That combination is harder to find than most investors realize.