Quote of the Day
"Once we stop thinking about memecoins as if they’re securities and treat them like any other gambling market, the parasitical attention cycle should be broken."
(Bryce Elder)
Strategy
- What, if anything, can displace U.S. equity market dominance? (awealthofcommonsense.com)
- Vanguard wants investors to shift from cash into fixed income before its too late. (riabiz.com)
- Endowment funds are playing a losing game. (blogs.cfainstitute.org)
Crypto
- Another company, Marathon Holdings ($MARA), has joined the 'buy Bitcoin' strategy used by Microstrategy ($MSTR). (sherwood.news)
- Microstrategy ($MSTR) is poised to be added to the Invesco QQQ ETF ($QQQ). (coindesk.com)
Intel
- Intel's ($INTC) problems are decades in the making. (daringfireball.net)
- There is no obvious path forward for Intel ($INTC). (spyglass.org)
Startups
- Elon Musk's xAI has raised capital at a record pace. (sherwood.news)
- Startup stock tender offerings are on the rise. (axios.com)
Health
- Eli Lilly’s ($LLY) Zepbound bested Novo Nordisk’s ($NVO) Wegovy in a big obesity drug trial. (biopharmadive.com)
- Mark Cuban, “How much f*cking money do I need? I’m not trying to land on Mars.” (wired.com)
Economy
- Per ISM, the services sector continues to expand. (bonddad.blogspot.com)
- It's hard to find a lot wrong with the U.S. economy. (scottgrannis.blogspot.com)
- Home prices increased 3.4% over the past year, per CoreLogic. (calculatedriskblog.com)
- Each unit of GDP has required less miles driven over time. (econbrowser.com)
Earlier on Abnormal Returns
- Personal finance links: taking your time. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: non-traded vehicles. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Have you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)
Mixed media
- 100 must-read books from 2024 including "Long Island Compromise" by Taffy Brodesser-Akner. (time.com)
- The 10 best books of 2024 including "Reagan: His Life and Legend" by Max Boot. (nytimes.com)
- Five notable books from 2024 including "Autocracy Inc.: The Dictators Who Want to Run the World" by Anne Applebaum. (klementoninvesting.substack.com)
