Quote of the Day
"Different constituencies have different reasons for buying in, which makes the argument for crypto resilient. It, too, has no single point of failure."
(Gilad Edelman)
Chart of the Day
There was one gold market before the launch of ETFs, and one after their launch.
Markets
- Not every drawdown is a buying opportunity. (ft.com)
- There is a good chance you already own some Nvidia ($NVDA). (peterlazaroff.com)
Strategy
- At some point, diversification will be rewarded. (awealthofcommonsense.com)
- How to know when your trading experiment has failed. (allstarcharts.com)
- Investment acronyms are a crap shoot at best. (ft.com)
Crypto
- Bitcoin OGs aren't selling at new all-time highs. (howardlindzon.com)
- Some Texans are having second thoughts about Bitcoin mining in the state. (wired.com)
- The Grayscale Bitcoin Trust ($GBTC) has seen outflows but AUM is still near its peak. (dlnews.com)
Finance
- Big banks increasingly rely on prime brokerage services to make money. (ifre.com)
- Late-stage VCs, like Tiger Global, are hoping for a IPO revival, stat. (institutionalinvestor.com)
- Why some consumers are searching out small, local options. (wsj.com)
GLP-1 drugs
- Some companies are ending coverage for GLP-1s for weight loss. (wsj.com)
- How GLP-1 could blow a hole in the federal budget. (nytimes.com)
- How are GLP-1 drugs going to affect fitness chains? (cnn.com)
- How (and why) GLP-1 works on the brain. (theatlantic.com)
Cal Newport
- A Q&A with David Epstein and Cal Newport, author of the new book "Slow Productivity: The Lost Art of Accomplishment Without Burnout." (davidepstein.substack.com)
- Brett McKay talks with Cal Newport author of the new book "Slow Productivity: The Lost Art of Accomplishment Without Burnout." (artofmanliness.com)
- Some notes on Cal Newport's "Slow Productivity." (moontower.substack.com)
Economy
- Not much changed in the January JOLTS. (bonddad.blogspot.com)
- It's hard to have a recession having started in February 2024. (econbrowser.com)
- Why Europe's economy is lagging the U.S. (theatlantic.com)
Earlier on Abnormal Returns
- Personal finance links: memories and feelings. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: frequent disappointments. (abnormalreturns.com)
- The 2024 UBS Global Investment Returns Yearbook is here! (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)