Quote of the Day
"Ultimately, the CEO's job is to seek the truth and tell the truth. Seek and tell the truth about reality. Seek and tell the truth about people. Seek and tell the truth about yourself. Then decide, without perfect information, what the company will and won’t do."
(Brent Beshore)
Markets
- Small caps are leading YTD. (stockmarketmedia.com)
- Japanese government yields continue to soar. (ft.com)
Strategy
- Why market timing is so difficult. (ofdollarsanddata.com)
- Five questions for Warren Buffett as he retires. (kingswell.io)
Crypto
- Bitmine ($BMNR) is buying more Ethereum. (theblock.co)
- What catalysts are left for Bitcoin? (sherwood.news)
- Strategy ($MSTR) is buying more Bitcoin. (theblock.co)
Fund management
- Why Vanguard created two investment management groups out of one. (riabiz.com)
- How much the biggest hedge funds made for investors in 2025. (wsj.com)
Movies
- 'Zootopia 2' is now the highest grossing animated film in history. (variety.com)
- 'Marty Supreme' is A24's highest grossing domestic movie. (variety.com)
Global
- Europe owns a lot of U.S. assets. (ft.com)
- China's fertility rate hit a historic low. (wsj.com)
- Kiwis head to Australia for better opportunities and vibes. (nytimes.com)
- The U.S. pumps 20% of global oil production. (apolloacademy.com)
Tariffs
- A study finds that American consumers and businesses pay nearly all the costs of tariffs. (wsj.com)
- Amazon ($AMZN) CEO Andy Jassy agrees. (axios.com)
Economy
- Noah Smith, "Countries simply don’t get rich from “resources”; they get rich from reshaping resources into useful goods and services using human ingenuity and hard work." (noahpinion.blog)
- Labor share as a share of GDP is at a record low. (bonddad.blogspot.com)
- The odds of a 2026 recession are falling. (apolloacademy.com)
Earlier on Abnormal Returns
- Research links: an unknowable future. (abnormalreturns.com)
- Adviser links: winning in wealthtech. (abnormalreturns.com)
- The U.S. has become a riskier place to do business. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on Abnormal Returns. (abnormalreturns.com)
- Your favorite [fill in the blank] will close someday. Nothing lasts forever. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
