Quote of the Day
"In my view, buying a leveraged fund and holding it for the long run is appropriate only for people who can spend the rest of their lives in a sensory-deprivation tank."
(Jason Zweig)
Bonds
- The correlation between stocks and interest rates is now negative. (axios.com)
- Norway's sovereign wealth fund is considering a reduction in bond holdings. (reuters.com)
Gold
- Netherlands is moved some of its gold holdings from New York to London. (wsj.com)
- They may not be the last to do this. (paulkrugman.substack.com)
- Mary Childs talked with Jacob Goldstein, author of "Money: The True Story of a Made-Up Thing." (youtube.com)
Finance
Fund management
- A look at the difference between public REITs and semiliquid direct real estate funds. (morningstar.com)
- Investors are still looking to pull money from private credit funds. (barrons.com)
Anti-trust
- Google ($GOOGL) lost three antitrust cases and will pay little cost. (arstechnica.com)
- The Trump administration has only brought one action to block a merger so far, and quickly settled. (theatlantic.com)
Data centers
- Putting the scale of AI data center construction into perspective. (tomtunguz.com)
- Is it possible to build data centers that people won't hate? (wsj.com)
- What would it mean to actually host data centers in space? (starbench.substack.com)
Stay in touch
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
- Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
Food
- Italian pasta maker Barilla Group is buying Goodles. (fastcompany.com)
- Can Jersey Mike's ($JMKE) appeal to Gen Z? (wsj.com)
- The Luckin Coffee turnaround is something. (ft.com)
Oil
- Diesel prices are at record high prices. (axios.com)
- It's hard to see how intervening in Venezuela's oil industry ends well. (theatlantic.com)
Economy
- The August NFP report showed 129k private sector jobs gained and a 4.1% unemployment rate. (bonddad.blogspot.com)
- How higher gasoline and diesel prices affect consumer sentiment. (fa-mag.com)
- Nominal wage growth is slowing. (newsletter.platypuseconomics.com)
Earlier on Abnormal Returns
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: intellectual humility. (abnormalreturns.com)
- The high cost of adulting in America today. (abnormalreturns.com)
