Quote of the Day
"People are realizing that despite the hundreds of billions of dollars being deployed each year by venture capital firms in pursuit of “innovation”, the world doesn’t really feel hundreds of billions of dollars better off for it."
(Molly White)
Chart of the Day
Apple ($AAPL) and Microsoft ($MSFT) are becoming a larger percentage of total market cap. (chart via @ycharts)
Markets
- Bond market volatility is at GFC-type levels. (axios.com)
- Chasing 'smooth returns' is a fool's errand. (capitalallocators.com)
Crypto
- Does your portfolio have more crypto exposure than you think? (morningstar.com)
- Crypto hype has died down, but the environmental effect hasn't. (theatlantic.com)
AI
- Google ($GOOGL) is opening up access to its ChatGPT competitor, Bard. (theverge.com)
- Alexa seems downright quaint in the era of generative AI. (theinformation.com)
- We really don't know what generative AI is going to become. (msn.com)
Finance
- How UBS is planning to manage its takeover of Credit Suisse. (ft.com)
- Small and mid-sized banks do the heavy lifting of lending to most businesses. (spilledcoffee.substack.com)
- The recent rash of bank failures hits harder because its been a minute. (ritholtz.com)
Earlier on Abnormal Returns
- Personal finance links: reinvestment rate volatility. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: shifting indices. (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)
