Quote of the Day
"To time the market successfully, you have to make two correct decisions: when to get out and when to get back in. No one can do that consistently."
(Burton Malkiel)
Markets
- Why is the bond market so chill? (ft.com)
- Money is pouring into Ethereum ETFs. (sherwood.news)
- Tech, growth stocks, and large caps are trading at multi-decade relative highs. (bilello.blog)
Companies
- Trump or not, Intel ($INTC) is struggling. (spyglass.org)
- Berkshire Hathaway ($BRK.A) now owns a big stake in beaten down UnitedHealth ($UNH). (kingswell.io)
- Him & Hers ($HIMS) is embracing retail investors. (sherwood.news)
- Big Tech spends big on personal security for its CEOs. (ft.com)
Private assets
- Wall Street banks are starting to cover firms that are not yet publicly traded. (advisorperspectives.com)
- Goldman Sachs ($GS) is offering clients a stake in Millennium Management. (fa-mag.com)
- The administration is fast tracking private equity in 401(k) plans. (axios.com)
- What can we learn from publicly traded private equity funds in London? (bloomberg.com)
AI
- AI isn't designed to provide mental health treatment. (derekthompson.org)
- 29 thoughts on AI including 'When it comes to AI, don't trust anyone who sounds too confident.' (whyisthisinteresting.substack.com)
- AI companies really don't want to have to compensate copyright holders, i.e. book authors. (arstechnica.com)
- If you have to verify everything AI asserts, is it all that useful? (freddiedeboer.substack.com)
Public media
- PBS is cutting its budget by 21%. (deadline.com)
- Tribal radio stations are often the only lifeline on reservations. (niemanlab.org)
- How live sports could help bail out PBS. (johnwallstreet.com)
Economy
- July retail sales shows no sign of a slowdown. (bonddad.blogspot.com)
- Spending by the wealthy is holding up better. (axios.com)
- FedEx ($FDX) stock presages a slowdown in trade. (apolloacademy.com)
- How to fix payroll data - look at tax witholding. (disciplinefunds.com)
Earlier on Abnormal Returns
- Podcast links: beating the house. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: our brain drain. (abnormalreturns.com)
- Everything is disruptable, and even if it isn't, you should act as if it is. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
