Quote of the Day
"(T)he entire derivatives ecosystem (you know, the one we regulate to manage important economic risks like crop delivery and energy supply) is being overwhelmed by wagering. What could possibly go wrong?"
(Dave Nadig)
Markets
- Is hyperscaler borrowing really driving rates higher? (ft.com)
- Why everyone is freaking out about rates. (wsj.com)
- 30-year mortgage rates are well over 7%. (axios.com)
Books
- Insights from Peter Lazaroff's new book "The Perfect Portfolio: A Proven Guide to Smart Investing for Long-Term Success." (novelinvestor.com)
- Vishal Khandelwal talks with Ian Cassel, author of "Stock Picker: How to develop the mindset, temperament, and strategy to outperform Wall Street." (youtube.com)
- Barry Ritholtz talks with Owen Zidar and Eric Zwick, co-authors of "The Everywhere Millionaire." (ritholtz.com)
Gambling
- The ETF industry with new ways to gamble. (etf.com)
- When a trading card hobby turns into problematic gambling. (gq.com)
Finance
- How the BSE and NSE are battling for stock market supremacy in India. (economist.com)
- Separate accounts are the new hedge funds. (reuters.com)
AI
- Meta ($META) is all-in on Muse. (spyglass.org)
- Insurers and hospitals are wielding AI tools over billing. (nytimes.com)
- The killer app for AI assistants is canceling subscriptions. (axios.com)
Stay in touch
- Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Iran
- China is helping Iran prosecute the war. (wsj.com)
- The Iran war could linger into the next administration. (theatlantic.com)
- A notable side effect of the Iran war, lower than expected carbon emissions. (wapo.st)
Economy
- Weekly initial jobless claims remain at historic lows. (bonddad.blogspot.com)
- US refineries are running nearly full out. (econbrowser.com)
- The AI buildout could be bigger than the railroads. (wsj.com)
Earlier on Abnormal Returns
- Longform links: the failure of shame. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: doing something. (abnormalreturns.com)
