Quote of the Day
"While technology removes friction from the world, enabling us to run faster, when you run faster, you are also more likely to make a mistake."
(Tim Hanson)
Finance
- The most important skill in finance is ability to communicate well. (awealthofcommonsense.com)
- Keep your eye on the bid-ask spreads on your active ETFs. (morningstar.com)
- Prediction markets have gone mainstream. (sportico.com)
AI
- The more we rely on AI, the more people will blame it. (tomtunguz.com)
- Don't send your colleagues AI slop. (hbr.org)
- Chatbait is the new clickbait. (theatlantic.com)
Coffee
- Starbucks ($SBUX) is doing another round of layoffs and store closings. (cnbc.com)
- In the U.S., Luckin Coffee has positioned itself as 'a caffeine utility.' (whyisthisinteresting.substack.com)
- How to incentivize the use of reusable containers, like coffee cups. (wsj.com)
Russia
- How an Iranian-made drone upended warfare. (wsj.com)
- Ukraine is targeting the broader Russian economy. (theatlantic.com)
- Russia is already at war with all of Europe. (politico.eu)
Argentina
- Why is the U.S. bailing out Argentina? (paulkrugman.substack.com)
- No, seriously, why? (econbrowser.com)
Economy
- Weekly initial unemployment claims are bouncing along the bottom. (calculatedriskblog.com)
- Removing immigrants is costly in a number of ways. (klementoninvesting.substack.com)
- Is Scott Bessent really the 'adult in the room'? (danieldrezner.substack.com)
- Just how independent is the Fed? (ft.com)
Earlier on Abnormal Returns
- Longform links: the demise of writing. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- With great gratitude, remembering Jonathan Clements. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Mixed media
- Signs the super-rich are turning away from the art market. (theartnewspaper.com)
- And apparently turning to horse racing, as a provision in the OBBBA makes it more attractive to buy yearlings. (cnbc.com)
- New Broadway musicals are struggling with high costs and disappointing ticket sales. (nytimes.com)
