Quote of the Day
"Munger was not infallible, but he was genuine. And in a public sphere drowning in signaling, his authentic wisdom and acerbic wit stood out like a lighthouse in the storm."
(Frederik Gieschen)
Markets
- The premium for green energy stocks has evaporated. (wsj.com)
- The reversal in lithium prices is impressive. (ft.com)
- Lumber prices are flatish year-over-year. (calculatedriskblog.com)
- The market is pricing in the chance of multiple Fed rates cuts in 2024. (ft.com)
Strategy
- The Fed matters for markets less than you think. (awealthofcommonsense.com)
- It's hard to build long term wealth with T-bills. (morningstar.com)
Crypto
- Some Grayscale crypto trusts are again trading a premiums. (ft.com)
- A retired coal plant is soon set to power a crypto mining operation in Indiana. (indystar.com)
- Who hasn't filed for a spot Bitcoin ETF? (reuters.com)
Companies
- Microsoft ($MSFT) and Meta ($META) are the biggest buyers of Nvidia ($NVDA) chips. (theinformation.com)
- Does Spotify's ($SPOT) business model still work? (wired.com)
- How do you know if a company has a defensible moat? (investmenttalk.co)
Pharma
- Eli Lilly's ($LLY) new weight-loss drug Zepbound is now available at US pharmacies. (news.yahoo.com)
- CVS ($CVS) is adopting a cost-plus type model for drug pricing. (wsj.com)
- The DoD wants the FDA to crack down on drug quality problems. (bloomberg.com)
Private credit
- Given the fees, no wonder every manager wants to get into the business of private credit. (advisorperspectives.com)
- Why banks feel the need to enter the private credit business. (institutionalinvestor.com)
Economy
- Per the October JOLTS reports, jobs openings are falling. (bonddad.blogspot.com)
- Asking rents are down 1.15 year-over-year. (calculatedriskblog.com)
- Economic growth is right at trend. (econbrowser.com)
Earlier on Abnormal Returns
- Research links: tracking performance. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: structuring compensation. (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)