Quote of the Day
"My problem with AI slop isn’t the AI, it’s the slop."
(John Gruber)
Markets
- Long Western Digital ($WDC), short TradeDesk ($TTD) was the trade of the year. (barrons.com)
- The VIX is ending the year near its lows. (vixology.substack.com)
- A barbell in stock performance in 2025. (chartkidmatt.com)
Finance
- The Korea Exchange has a competitor in Nextrade. (giftarticle.ft.com)
- Why Polymarket is flying under the radar compared to Kalshi. (frontofficesports.com)
- What is Bill Ackman trying to accomplish with Howard Hughes Holdings ($HHH)? (oldroperesearch.substack.com)
AI
- OpenAI's stock-based compensation is off the charts. (wsj.com)
- Caterpillar’s ($CAT) power and energy business is getting. boost from AI. (wsj.com)
Trump
- Trump Media ($DJT) is distributing a token to shareholders. (theblock.co)
- Five Truth Social ETFs just launched. (morningstar.com)
- The Trump Mobile phone is delayed. (fortune.com)
Work
- Office attendance rates continued to tick higher in 2025. (wsj.com)
- AI will remove rungs from the corporate ladder. (theatlantic.com)
- Some tech companies are offering free nicotine pouches to workers. (wsj.com)
Economy
- Still no pick up in weekly initial unemployment claims. (calculatedriskblog.com)
- Why didn't tariffs tank the economy? (econbrowser.com)
Earlier on Abnormal Returns
- Personal finance links: guilt and fear. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: inflation expectations. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Mixed media
- 55 amazing facts from 2025 including 'Calling a loved one by their name makes some people feel anxious or nauseated.' (theatlantic.com)
- 52 things learned in 2025 including 'Women are more likely to believe ghosts are real; men are more likely to believe aliens are real.' (probablyinteresting.substack.com)
- 52 things learned in 2025 including 'Maalox is a brand of antacid for humans. Neigh-lox is the equine equivalent.' (fritinancy.substack.com)







