Quote of the Day
"If we’re going to print money to protect the value of our currency then we should be strategically investing that money in endeavors that create real resources or are accretive to economic value in the future."
(Cullen Roche)
Chart of the Day
How worried should we be that Walmart ($WMT) is greatly outperforming luxury stocks?
Markets
- Bull markets don't typically last just a couple of years. (carsongroup.com)
- How to game the strategist annual price target game. (awealthofcommonsense.com)
Bitcoin
- Who's left to buy Bitcoin? (howardlindzon.com)
- Nothing about a strategic Bitcoin reserve makes sense. (disciplinefunds.com)
- Microsoft ($MSFT) isn't adding Bitcoin to its balance sheet. (sherwood.news)
Crypto fraud
- Likely future Commerce Secretary Howard Lutnick is a big backer of Tether, a key tool for money laundering. (on.ft.com)
- Memecoin pump-and-dumps have become normalized. (defector.com)
- The celebrity memecoin playbook is now well developed. (sherwood.news)
- Who is going to pay for crypto-enabled consumer fraud? (on.ft.com)
Alternatives
- The number of hedge fund startups is dwindling. (finance.yahoo.com)
- Why private equity wants so badly to get access to 401(k) plans. (institutionalinvestor.com)
- Big hedge funds want some of that sweet, mass affluent money. (fa-mag.com)
- Startup employees increasingly are getting access to tender offers. (wsj.com)
Sports
- The Buffalo Bills and Miami Dolphins have sold stakes to private equity firms. (axios.com)
- Money talks, FIFA listens. Saudi Arabia was awarded the right to host the 2034 World Cup. (sportico.com)
- Why the Mets likely overpaid for Juan Soto's services. (huddleup.substack.com)
- Will an additional team on the track dilute Formula One? (johnwallstreet.com)
Economy
- The November CPI came with a 2.7% over the past twelve months. (calculatedriskblog.com)
- Shelter is still a contributor to consumer inflation. (bonddad.blogspot.com)
- Is the Fed going to be satisfied with inflation going into 2025? (axios.com)
Earlier on Abnormal Returns
- Personal finance links: financial stress. (abnormalreturns.com)
- Stuff is stuff: on the challenges of cleaning out a late parent's home. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: retail order flow. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Have you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)
