Quote of the Day
"For individual investors and small endowments, the correct advice is even clearer. Even if alternative investments produce future excess returns, it may be impossible to reap the benefits because of extremely high fees."
(Burton Malkiel)
Chart of the Day
We are going to need more years like to this to close the long term gap between international and domestic stocks.
Markets
- You can't be a long-term investor if you aren't an optimist. (optimisticallie.com)
- You never could have predicted the stock market's first half 2025 performance. (mrzepczynski.blogspot.com)
Crypto
- Crypto projects need revenue. (tomtunguz.com)
- CoreWeave ($CRWV) is buying miner Core Scientific ($CORZ). (theblock.co)
Private equity
- Some endowment fund are doubling down on private equity. (ft.com)
- Why you can't copy the performance of endowment funds. (wsj.com)
- Blackrock's ($BLK) first crack at the private debt business was a disappointment. (ft.com)
Trading
- Prediction markets allow for a new kind of (geopolitical) insider trading. (forkingpaths.co)
- The CME ($CME) is still fighting with its former floor traders. (wsj.com)
- What India's crackdown on Jane Street means. (bloomberg.com)
Energy
- Global growth in energy demand is still outpacing growth in renewables. (coldeye.earth)
- What's behind the enmity some have towards renewable energy? (paulkrugman.substack.com)
- A graphical look at the falling costs of renewable energy. (visualcapitalist.com)
Economy
- Why you should stay on recession watch. (bonddad.blogspot.com)
- Civilian employment has seemingly peaked. (econbrowser.com)
- What's behind the recent surge in productivity? (conversableeconomist.com)
Earlier on Abnormal Returns
- Adviser links: an ideal environment. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- What everyone was clicking on last week on the site. (abnormalreturns.com)
- Newer, cheaper, better isn't always. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
