Quote of the Day
"Financial markets are complex, adaptive systems from which even the most advanced models may struggle to separate the signal from the noise."
(Phil Huber)
Crypto
- 2022's crypto blowups happened really quickly as institutions rushed through the door. (chicagofed.org)
- Michael Lewis' book on SBF, “Going Infinite: The Rise and Fall of a New Tycoon” is coming in October. (nytimes.com)
Companies
- Why is Apple ($AAPL) is pushing forward with its mixed reality headset? (washingtonpost.com)
- What exactly is IBM ($IBM) these days? (herbgreenberg.substack.com)
- Alphabet ($GOOGL) shareholders had some relief from its AI announcement. (finance.yahoo.com)
Mutual funds
- On average, higher fee bond mutual funds underperform. (morningstar.com)
- The past 10 years has not been kind to the largest actively managed mutual funds. (citywire.com)
AI
- AI could help unbundle research and writing. (every.to)
- Why the Hollywood writer's strike matters for AI. (theatlantic.com)
Global
- Greece's economy is on the mend. (ft.com)
- Putin's war accelerated the de-Russification of Ukraine. (washingtonpost.com)
Default
- The U.S. has had some close calls with default. (axios.com)
- What is at-risk with a potential federal default. (ofdollarsanddata.com)
Economy
- National homebuilder confidence has stopped going down. (calculatedriskblog.com)
- Industrial production keeps getting revised lower. (bonddad.blogspot.com)
- Why the Fed may not be having much effect on inflation. (stayathomemacro.substack.com)
Earlier on Abnormal Returns
- Research links: the urge to pick stocks. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: gaining trust. (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)