Quote of the Day
"Stop turning every disappointment into a story about good and evil. Most of the time it is incentives doing their work."
(Darius Foroux)
Markets
- Still no sign of a letup in stock buybacks. (wsj.com)
- The stock market already knows which companies are good. (fortunesandfrictions.com)
Companies
- Nuclear energy startups are going public via the SPAC route. (ft.com)
- Pot stocks are once again rallying on the prospect of policy reform. (sherwood.news)
- Amazon's ($AMZN) Kuiper has launched more satellites. (cnbc.com)
Private assets
- KKR ($KKR) needs more deal capacity for the wealth channel. (ft.com)
- How all the big alternatives managers are approaching the wealth channel. (altgoesmainstream.substack.com)
- The case against private equity in 401(k) plans. (crr.bc.edu)
Fund management
- There's one measure that reliably sorts fund performance. (jeffreyptak.substack.com)
- U.S. fund managers increasingly dominate the European fund market. (ft.com)
- Why you see so many ads for the Invesco QQQ Trust ($QQQ). (finfluential.substack.com)
Streaming
- It's not Venu, but ESPN and Fox are offering a new sports streaming bundle. (frontofficesports.com)
- Paramount+ is the new home of UFC. (sportico.com)
- TKO Group ($TKO) has built a diversified set of media relationships. (awfulannouncing.com)
- John Cena wants you to subscribe to the new ESPN streaming service. (thewrap.com)
Policy
- The precedent has been set. Nvidia ($NVDA) and AMD ($AMD) will not be the last companies to have to pay toll to the government. (spyglass.org)
- National security is apparently taking a back seat to commerce. (arstechnica.com)
- Why we are suddenly seeing so many national 'emergencies.' (andrewsullivan.substack.com)
- The U.S. is lurching toward state capitalism. (wsj.com)
Economy
- Economic data is increasingly hazy. (optimisticallie.com)
- Pre-tariff inventories are running out. Price hikes follow. (ft.com)
- Mothers are leaving the workforce in big numbers. (wapo.st)
Earlier on Abnormal Returns
- Adviser links: happy hunting. (abnormalreturns.com)
- Everything is disruptable, and even if it isn't, you should act as if it is. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- The top 60 finance and investing blogs in 2025, including Abnormal Returns. (snippet.finance)
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
