Quote of the Day
"Diversification is an exercise in humility. The future is uncertain, and we are terrible at making predictions, so our portfolios should reflect this."
(Joe Wiggins)
Gold
- Is the gold trade about eroding trust in the U.S.? (axios.com)
- What pundits are saying about the big gold rally. (ft.com)
- Is there a message in gold's rally? (paulkrugman.substack.com)
Strategy
- The best investors stay in the game. (harveysawikin.substack.com)
- On the myth of 'cash on the sidelines.' (spilledcoffee.co)
- Market returns can come in short bursts. (novelinvestor.com)
- Predicting the future is never easy. (behaviouralinvestment.com)
- Why base rates matter. (excessreturnspod.substack.com)
AI
- Circularity in the AI ecosystem is here. (spyglass.org)
- How to untangle the 'AI blob.' (axios.com)
- A good reminder that AI spending isn't risk-free. (sherwood.news)
- How Northern Virginia became a magnet for data centers. (wapo.st)
- Ben Thompson talks with OpenAI CEO Sam Altman. (stratechery.com)
- The AI boom has upended what kind of company splashes out on capex. (bloomberg.com)
Prediction markets
- How prediction markets changes how you interact with the news. (howardlindzon.com)
- Are prediction markets an existential threat to sports betting companies? (barrons.com)
Fund management
- Investors have been unwilling to rebalance away from U.S. equities. (morningstar.com)
- The Fundstrat Granny Shots US Large Cap ETF ($GRNY) has topped $3 billion in AUM less than a year after launch. (etf.com)
- The Roundhill Meme Stock ETF ($MEME) is back. (sherwood.news)
Energy
- Global renewable energy production has surpassed coal for the first time. (theguardian.com)
- India needs to invest a lot more in its electrical grid. (indiadispatch.com)
- How Ukraine hopes to keep the lights on this winter. (wsj.com)
Economy
- Why jobs growth is so slow. (apolloacademy.com)
- Still no sign of a pullback in consumer spending. (bonddad.blogspot.com)
- The U.S. is really two economies going in different directions. (klementoninvesting.substack.com)
- Congrats to Bill McBride of Calculated Risk on 20 years. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Personal finance links: rest-of-your life decisions. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: the key to alternative markets. (abnormalreturns.com)
- Don't miss out! Sign up for daily e-mail newsletter. (abnormalreturns.com)
