Quote of the Day
"The breakout finance products of the past decade converge around a single design: a highly engineered lottery. Small, low probability bets with asymmetric upside."
(Shreyas Hariharan)
Chart of the Day
Gold fever seem to have broken, at least for now. (chart via YCharts)
Rates
- How much the yield curve has steepened. (mrzepczynski.blogspot.com)
- How worried should we be about tighter credit spreads? (advisorperspectives.com)
- High yield index duration is falling. (apolloacademy.com)
Crypto
- Why the pardon of Changpeng Zhao, the founder of Binance, is unprecedented. (newyorker.com)
- Zhao was convicted for enabling money laundering, not crypto stuff. (slate.com)
- All of this is happening in the wide open. (npr.org)
Private assets
- Private equity is fully bought into marketing to the mass affluent crowd. (downtownjoshbrown.com)
- Dan Rasmussen, "In short, the “rise of alternatives” is not only a structural trend. It is a story of belief coordination." (mailchi.mp)
- Private equity providers are headed to the airways to attract individual investors. (bloomberg.com)
AI
- OpenAI shuns bankers in its deal making. (on.ft.com)
- AI isn't taking jobs at Goldman Sachs ($GS) yet. (axios.com)
- It's naive to think AI won't disrupt work in many sectors. (tker.co)
Work
- The average American worker faces scheduling uncertainty and volatility. (bloomberg.com)
- Why flexible work arrangements are here to stay. (planadviser.com)
- How the average American worker has changed over time. (wsj.com)
- If your job disappeared, would any one notice? (klementoninvesting.substack.com)
Housing
- Renters have the upper hand at the moment. (wsj.com)
- The boom and bust in Austin, shows the law of supply and demand work. (bloomberg.com)
Earlier on Abnormal Returns
- Adviser links: avoiding tough questions. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on Abnormal Returns. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
