Quote of the Day
"The arc of markets bends toward price transparency."
(Ted Merz)
Chart of the Day
Don’t be surprised if more companies jump on the Bitcoin reserve train. (chart via YCharts)
Markets
- Vocal market bears are dropping like flies. (ft.com)
- How to think about strategists' one-year S&P 500 price targets. (tker.co)
Strategy
- Four types of investment mistakes including 'Holding onto a loser for too long.' (awealthofcommonsense.com)
- John Rekenthaler helped raise the bar for investment writing. (mutualfundobserver.com)
ETFs
- Jane Street is cleaning up on the ETF boom. (finance.yahoo.com)
- Blackrock ($BLK) is uniquely positioned to meld private markets and ETFs. (wsj.com)
- High profile pundits are jumping on the ETF train. (etftrends.com)
AI
- AI is already getting commodified. (wsj.com)
- How AI companies are injecting reasoning into their models. (theatlantic.com)
- Why there is so little transparency around the use of AI. (honest-broker.com)
- The AI boom is highlighting energy infrastructure bottlenecks. (press.airstreet.com)
- Will AI eat the browser? (crazystupidtech.com)
Notre Dame
- How France came together to rebuild Notre Dame. (on.ft.com)
- What it took to rebuild Notre Dame. (nytimes.com)
Budgeting
- The math on any additional tax cuts is tough. (prospect.org)
- Want to cut the federal budget deficit? Think defense, Social Security AND health care spending. (advisorperspectives.com)
- The government isn't a business, and shouldn't be run like one. (nytimes.com)
Voting
- Ranked choice voting had a bad year at the ballot box. (theatlantic.com)
- America is becoming less purple over time. (theconversation.com)
Policing
- Law enforcement officers are widely known to illegally sell weapons. (cbsnews.com)
- Don't expect much 'policing of the police' over the next four years. (axios.com)
Policy
- The Biden administration could provide additional protections for these immigrants. (newyorker.com)
- No administration in history will have so many billionaires. (axios.com)
- We won't notice the decline in state capacity until it is too late. (donmoynihan.substack.com)
- Climate policy IS economic policy. (slowboring.com)
- Defense IS manufacturing. (noahpinion.blog)
Economy
- How CPI works. (sherwood.news)
- Why older women are choosing to work longer. (wapo.st)
- Why everybody, not just economists, love FRED. (nytimes.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Mixed media
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (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)
