Quote of the Day
"Heading into year-end, perhaps we should be asking ourselves how much value we derive from overconsuming endless tweets, blog posts, podcasts, YouTubes, and most perniciously, TikToks."
(Barry Ritholtz)
Chart of the Day

The Pacer US Cash Cows 100 ETF ($COWZ) has taken off in 2022. (via @ericbalchunas and chart via @ycharts)
Trading
- Louis Sykes, "Some of the most intelligent and sophisticated traders on the planet lost everything in this market because they let ego get in the way of judgment and sound risk management processes." (allstarcharts.com)
- Why you likely can't just buy, and successfully use, some one else's trading system. (traderfeed.blogspot.com)
Writing
- Nick Maggiulli's favorite investment writing of 2022. (ofdollarsanddata.com)
- Is old-school blogging making a comeback? (danieldrezner.substack.com)
Finance
- Chamath Palihapitiya doesn't blame for the SPAC bust. (nytimes.com)
- The Hipgnosis Song Fund is trading at a discount to NAV. (wsj.com)
- Robinhood ($HOOD) is rolling out IRA accounts. (techcrunch.com)
Semiconductors
- The U.S. chip boom is gaining momentum. (axios.com)
- Apple ($AAPL), and others, are planning to buy chips from Taiwan Semi's ($TSM) new Arizona fab. (cnbc.com)
- "Chip War" by Chris Miller won the 2022 Financial Times Business Book of the Year Award. (ft.com)
AI
- Kevin Roose, "The potential societal implications of ChatGPT are too big to fit into one column." (nytimes.com)
- OpenAI is the breakout 'tech company' of the 2022. (semilshah.com)
- ChatGPT could kill the student essay. (theatlantic.com)
- AI is going to force us to 'sign our work.' (avc.com)
China
- China is easing some of its Covid policies. (msn.com)
- China's health care system is not ready for the end of 'zero Covid' policies. (vox.com)
- China needs more, and better, Covid vaccines. (slate.com)
Economy
- The U.S. leads the world in inverted yield curves. (econbrowser.com)
- Why factory owners are more pessimistic than consumers. (washingtonpost.com)
- Wholesale used vehicle prices are coming down. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Personal finance links: a diversified life. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: publication bias. (abnormalreturns.com)
- It's been awhile since anyone has commented on my book. Thanks, Dave! (ritceyteam.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)