Quote of the Day
"Cash isn’t meant to sit under your mattress forever."
(Callie Cox)
Markets
- Cullen Roche, "The worst narrative in finance is this idea that stocks generate 10%+." (disciplinefunds.com)
- Why you should believe in stocks for the long run. (awealthofcommonsense.com)
- Diversify when you feel like you don't need it. (creativeplanning.com)
- Cash is a drug for investors. (etoro.com)
Fund management
- The ESG wave has crested. (wsj.com)
- Fidelity files for a spot Ethereum ETF. (theblock.co)
- Noted short seller Jim Chanos is shutting his fund down. (cnbc.com)
AI
- Microsoft ($MSFT) was reducing its dependence on OpenAI. (venturebeat.com)
- Why open source is the path forward for AI. (om.co)
- Things are still very early for AI. (michaelparekh.substack.com)
Housing
- A growing share of American homes are mortgage-free. (bloomberg.com)
- 30-year mortgages are to blame for the bifurcated housing market. (nytimes.com)
- Home sellers in most countries don't pay a 6% realtor commission. (wsj.com)
Guns
- Tim Dickinson, "The [gun] industry is increasingly pushing weaponry on civilians that rivals or even exceeds the firepower commonly entrusted to soldiers." (rollingstone.com)
- Ammunition manufactured in a federal facility has found its way into the hands of mass shooters. (nytimes.com)
- AR-15s are designed to kill human beings. The Washington Post shows the results. [graphic] (washingtonpost.com)
Policy
- Daniel Drezner, "The devolution of the term “fiscal conservative” is now complete." (danieldrezner.substack.com)
- Work requirements for welfare don't meaningfully increase long-term employment. (econofact.org)
- The proper way to measure income inequality. (bloomberg.com)
- If you want to worry about border crossings, look at all the 'small' packages coming into to the U.S. largely unchecked. (ft.com)
- Oregon's experiment in drug decriminalization isn't working as expected. (wsj.com)
Economy
- The hard part of disinflation is done. (tker.co)
- Q4 GDP looking to be in the 2% range. (econbrowser.com)
- Are real wages rising? (apricitas.io)
- The economic schedule for the coming holiday-shortened week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday links. (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)
