Quote of the Day
"Investing, trading, speculation, degeneracy is now in a Moore’s law moment."
(Howard Lindzon)
Strategy
- Why we tend to believe in the hot hand fallacy. (safalniveshak.com)
- How to defend yourself in an increasingly degenerate economy. (howardlindzon.com)
Prediction markets
- Fanatics is launching prediction markets in 24 states. (cnbc.com)
- CNN has signed a deal with Kalshi. (axios.com)
Fund management
- Treasuries are a growing share of core bond indices. (morningstar.com)
- Capital Group is going big on its partnership with KKR ($KKR). (wealthmanagement.com)
- Vanguard will soon offer annuities within 401(k) plans. (wsj.com)
- A look at the Wealthfront IPO. (riabiz.com)
AI
- Tensions are picking up in AI land. (spyglass.org)
- Anthropic is reportedly working toward an IPO. (ft.com)
- AWS announced the public launch of its Trainium3 custom AI chip. (wsj.com)
Sports
- How ESPN and DraftKings ($DKNG) plan to work together. (sportico.com)
- Does the UFC have a gambling problem? (hollywoodreporter.com)
- Why we have normalized teams tanking. (frontofficesports.com)
Earlier on Abnormal Returns
- Personal finance links: eulogy virtues. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: owning our opinions. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Mixed media
- 52 things learned in 2025 including '51% of the animals in farms across the world are shrimp.' (medium.com)
- 50 facts from the second half of 2025 including 'Canada does not hold any gold in its official reserves.' (news.theideafarm.com)
- Cass Sunstein's favorite things from 2025 including "The Arrogant Ape," by Christine Webb. (casssunstein.substack.com)
