Quote of the Day
"I mean, Beanie Babies still exist. Pogs still exist. Will bitcoin still exist? I think it’ll be like owning a ham radio, with hobbyists doing their niche thing together."
(James Block)
Strategy
- Jack Raines, "Wealth created through speculative means is rarely secured by rational actions." (youngmoney.co)
- Vishal Khandelwal, "The stock market is not a casino." (safalniveshak.com)
- FTX isn't the last big fraud investors will get taken by. (demystifyingmarkets.com)
Companies
- SpaceX is said to be worth $140 billion. (news.yahoo.com)
- Amazon ($AMZN) is delaying the start date of recent college hires. (theinformation.com)
- CVS ($CVS) and Walgreen's ($WBA) are paying $10 billion to settle opioid lawsuits. (npr.org)
- Europe is struggling to keep up in the chip race. (ft.com)
- Startups are offering to buy the rights to YouTuber's back catalog. (wsj.com)
Finance
- Going into year-end, a slew of SPACs are either liquidating or holding votes to extend their lives. (institutionalinvestor.com)
- The SEC is having a hard time holding onto staff. (citywire.com)
ESG
- Why net-zero and indexing don't necessarily mesh. (pionline.com)
- The ESG backlash is, in part, about climate change denialism. (vox.com)
Economy
- Gasoline is pushing CPI down, while housing continues to put upward pressure on it. (bonddad.blogspot.com)
- Why the Fed should consider a pause. (calculatedrisk.substack.com)
- How more young Americans living with their parents affects consumption patterns. (ft.com)
- Is the U.S. getting back to normal? (danieldrezner.substack.com)
Earlier on Abnormal Returns
- Research links: correlation confidence. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: the long road. (abnormalreturns.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)
Mixed media
- Jason Kottke's best books of 2022 including "Sea of Tranquility" by Emily St. John Mandel. (kottke.org)
- Maria Popova's favorite books of 2022 including "An Immense World: How Animal Senses Reveal the Hidden Realms Around Us" by Ed Yong. (themarginalian.org)
- The best book Ryan Holiday read in 2022 including "Plain Speaking: An Oral Biography of Harry S. Truman" by Merle Miller. (ryanholiday.net)
- The best books Larry Swedroe read in 2022 including "How the World Really Works: The Science Behind How We Got Here and Where We're Going" by Vaclav Smil. (advisorperspectives.com)
