Quote of the Day
"This anger — mixed with the real pain of inflation and the frustrations borne out of cognitive bias and partisan politics — has created a toxic stew."
(Betsey Stevenson)
Concentration
- How worried should you be by an increasingly concentrated stock market? (alphaarchitect.com)
- Stock market skew makes portfolio concentration dangerous. (awealthofcommonsense.com)
Fund management
- Emerging market investors have a China decision to make. (wsj.com)
- Bonds vs. bond funds: funds are fine for most investors. (etf.com)
AI
- A deep dive into the state of AI from Coatue. (newcomer.co)
- Airbnb bought an AI startup, Gameplanner.AI. (cnbc.com)
- Creating misinformation is now as easy as a couple of clicks. (wsj.com)
- How much it costs to query various AI models. (tomtunguz.com)
Weight loss drugs
- New data means Wegovy, and the like, will go mainstream. (theatlantic.com)
- Eli Lilly ($LLY) is building a new plant to make weight loss drugs. (biopharmadive.com)
- How startups might take GLP-1 drugs into account. (axios.com)
- There is no exit ramp for GLP-1 users. (erictopol.substack.com)
Earlier on Abnormal Returns
- Podcast links: the death of radio. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: the business of longevity. (abnormalreturns.com)
- Over a lifetime, you can accumulate a lot of stuff. The chances are nobody wants any of it. (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
- Three insights from Morgan Housel's "Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life." (blairbellecurve.com)
- Lessons learned from a talk with Christopher Davis including 'Effective communication is about building goodwill with the person you are working with.' (wsgresearch.com)
- Tarpley Hitt, "It’s hard to imagine a record more damning than the one Dalio has created himself." (newyorker.com)
