Quote of the Day
"Bots are essentially a low-cost, high-leverage way to manipulate information markets. The business model is elegant: a small upfront investment in fake accounts and automation can generate massive returns in terms of attention, narrative control, and ultimately political outcomes."
(Kyla Scanlon)
Markets
- The many ways that speculation has become entertainment. (howardlindzon.com)
- Just how expensive is the current U.S. stock market? Pretty expensive. (ft.com)
Strategy
- Overconfidence is a portfolio killer. (tonyisola.com)
- You can quantify risk only so much. (permanentequity.com)
AI
- How much compute does OpenAI need? (arstechnica.com)
- Nvidia ($NVDA) has to do something with all their cash. (thezvi.substack.com)
- VCs are falling all over themselves to invest in hot AI deals. (bloomberg.com)
- What U.S. companies are saying about the risks and benefits of AI. (ft.com)
Money management
- U.S. asset managers are taking share in Europe. (bloomberg.com)
- Trend following strategies are dragging Man Group performance down. (ft.com)
ETFs
- The amount flowing into S&P 500 ETFs this year is stunning. (etf.com)
- Downside protection ETFs offer limited protection with higher cost and complexity. (kitces.com)
- Dave Nadig on the state of the ETF industry. (etf.com)
Earlier on Abnormal Returns
- Personal finance links: a misplaced focus. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- With great gratitude, remembering Jonathan Clements. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
