Quote of the Day
"I don’t think we should be rooting for $3 and $4 trillion market caps to be exploding to $5 and $6 trillion. Gains in moderation, given what’s gone on over the last three years, are better than a parabolic, blow-off top."
(Joshua Brown)
Markets
- Just because the media reports on something, doesn't mean its important. (tker.co)
- Everything went right for international stocks last year. (awealthofcommonsense.com)
- The market case for higher inflation. (trendlabs.com)
Strategy
- Prices change before narratives do. (downtownjoshbrown.com)
- The long term is made up of a bunch of short terms. (rockandturner.substack.com)
- Trading is filled with what-ifs. (allstarcharts.com)
ETFs
- Dave Nadig, "In a world of 5,000 ETFs, provenance will matter." (etf.com)
- The more complex an ETF, the more skepticism required. (rogersplanning.blogspot.com)
- Just because someone creates an index, doesn't mean it's investable. (morningstar.com)
- These ETFs exclude Chinese stocks. (humbledollar.com)
Prediction markets
- Trading prediction markets is the new day trading. (npr.org)
- On the dangers of the media relying on prediction markets. (theatlantic.com)
- Insider trading is an issue for prediction markets. (wapo.st)
- Nevada is pushing back against prediction markets on sports. (frontofficesports.com)
- Don't think too hard about the implications of prediction markets or it your brain may break. (theringer.com)
AI
ICE
- ICE is no longer playing by the rules. (newyorker.com)
- Just how easy is it to get hired by ICE. (slate.com)
- Thanks to ICE, Minneapolis is a battleground. (unherd.com)
Policy
- Duncan Hosie, "A constitutional democracy cannot survive on judicial pronouncements alone...In other words, it needs a functioning Congress." (theatlantic.com)
- Tim Harford, "The populist thrives in an environment where people act on their intuitions; so does the scammer." (timharford.com)
- Spencer Overton, "When agencies stop collecting data on racial disparities, discrimination becomes harder to detect." (theconversation.com)
Global
- It's not just Canada that is cozying up to China. (thebulwark.com)
- The crackdown in Iran came at a high cost. (thetimes.com)
- A closer look at Greenland's economy. (wsj.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- Your favorite [fill in the blank] will close someday. Nothing lasts forever. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
