Quote of the Day
"Always pay attention when people intentionally misrepresent numbers to deceive you."
(Barry Ritholtz)
Markets
- Not every IPO sustains a first day pop. (bloomberg.com)
- It's easy to forget how crazy the dot com bubble was. (stansberryresearch.com)
- More people are prompting ChatGPT for stock picks. (reuters.com)
AI
- On the scale of the AI data center boom. (wsj.com)
- Data center construction spending will soon top offices. (sherwood.news)
- There are still plenty of questions about the OpenAI-Nvidia ($NVDA) deal. (spyglass.org)
- David Einhorn, “I’m sure it’s not zero, but there’s a reasonable chance that a tremendous amount of capital destruction is going to come through this cycle.” (bloomberg.com)
Business
- Noam Sheiber, "In the era of shareholder capitalism, the overseers of ABC and CBS must keep their eyes on the stock price. And by that measure they have been in no position to push back." (nytimes.com)
- Why no American CEO wants to be the first to confront the administration. (newyorker.com)
- Another example of Apple ($AAPL) preemptively caving to the administration. (spyglass.org)
ETFs
- Some of the most interesting developments in ETF-land are tax-related. (wsj.com)
- The Motley Fool is planning to boost its ETF lineup. (thedailyupside.com)
Tariffs
- More tariffs are coming. (wsj.com)
- Trump is citing national security to put tariffs on imported kitchen cabinets, bathroom vanities and furniture. (econbrowser.com)
- Why most pharmaceutical makers will see tariff carveouts. (biopharmadive.com)
- This result was sadly predictable. (marginalrevolution.com)
Global
- The UN is fading into irrelevance. (ft.com)
- The administration has done an effective job angering South Korea. (independent.co.uk)
- Just how much China has embraced factory automation. (nytimes.com)
- China's industrial policy has an overcapacity problem. (ft.com)
Sports
- How Flutter ($FLUT) became the world’s largest and most profitable sportsbook. (huddleup.substack.com)
- A 2.35% stake in the Chicago Bears just changed hands at a $8.9 billion valuation. (cnbc.com)
- U.S. owners are taking over English football. (espn.com)
Earlier on Abnormal Returns
- Podcast links: headline-grabbing scoops. (abnormalreturns.com)
- What you missed in our Thursday 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)
