Quote of the Day
"The only person who can talk you out of your belief in a wrong-headed constructed world is you."
(Ben Hunt)
Chart of the Day
Small caps, as measured by the Russell 2000, finally made a new all-time high. (chart via YCharts)
Companies
- Nvidia's ($NVDA) success is pulling a lot of other companies along in its wake. (axios.com)
- Nexstar ($NXST) and Sinclair Inc ($SBGI) control a vast swath of TV stations across the country. (sherwood.news)
Finance
- The ABCs of BDCs. (on.ft.com)
- Running the numbers on the ARK Defined Innovation ETF family. (on.ft.com)
AI
- Scott Jenson, "The original iPod went from a weight of 180g to just over 12g as technology improved and it morphed into more niche uses. LLMs are also likely to significantly change as the technology and market matures." (jenson.org)
- A round-up of reviews of "If Anyone Builds It, Everyone Dies: Why Superhuman AI Would Kill Us All" by Eliezer Yudkowsky and Nate Soares. (thezvi.substack.com)
Farming
- Farmers are struggling to find workers amidst a crackdown on immigrants. (politico.com)
- Cattle inventory is at its lowest level since 1951. (wsj.com)
- Confidence on the farm is falling. (bloomberg.com)
Economy
- Consumer spending and the wealth effect. (bonddad.blogspot.com)
- Grocery prices are only going up. (npr.org)
- Why foreign companies will rethink investing in the U.S. (paulkrugman.substack.com)
Earlier on Abnormal Returns
- Podcast links: AI slop. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: the intention of the author. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
