Quote of the Day
"This reinforces my general bias that gold is a trading vehicle and not an investment vehicle."
(Barry Ritholtz)
Markets
- How does the 60/40 portfolio perform after big down years? (awealthofcommonsense.com)
- GMO loves deep value stocks. (ft.com)
FTX
- Bankruptcy courts were not built to unwind crypto messes like FTX. (economist.com)
- Alameda Research made a big investment in miner Genesis Digital Assets soon before the FTX unwind. (wsj.com)
BITO
- Bitcoin tanked in 2022 but Bitcoin futures ETPs held in there. (ft.com)
- The ProShares Bitcoin Strategy ETF ($BITO) is still pretty liquid. (etf.com)
Finance
- Wells Fargo ($WFC) is pulling back from the mortgage origination market. (thebasispoint.com)
- Fidelity is buying Shoobx Inc., which manages startups’ employee-equity plans and tracks their investors’ holdings. (wsj.com)
- The BNPL bubble is set to burst. (theatlantic.com)
- Even office developers are pivoting toward residential development. (wsj.com)
Europe
- Europe has gotten lucky this Winter, weather-wise. (economist.com)
- Belgium and the Netherlands intercepted a record-breaking 160 metric tonnes of cocaine in 2022. (semafor.com)
- The world's best restaurant, Noma, is closing. (cnn.com)
Economy
- Some additional signs that the economy is rolling over. (bonddad.blogspot.com)
- The natural gas patch is booming in the U.S. (wsj.com)
- How Neel Kashkari turned into an inflation hawk. (stayathomemacro.substack.com)
Earlier on Abnormal Returns
- Personal finance links: finding a new plan. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: finding unused value. (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
- Blair duQuesnay, "I shudder to think that it shouldn’t be much of a surprise that an AI bot can mimic this robotic style of writing." (blairbellecurve.com)
- GPTZero can test to see if a text is written by AI. (npr.org)
- Good riddance to the high school essay. (seths.blog)
- ChatGPT has a factual problem. (fastcompany.com)
