Quote of the Day
"While things can certainly feel like an overwhelming swirl of culture, technology, and politics, that doesn’t make us special or this moment fundamentally unique."
(Noah Brier)
Chart of the Day
QTD, Bitcoin treasury companies are underperforming the underlying. (chart via YCharts)
Crypto
- Grayscale Investments has filed publicly for an initial public offering. (coindesk.com)
- Bitcoin treasury companies are feeling the pain. (sherwood.news)
Corporate finance
- Why companies are now embracing retail investors. (axios.com)
- How fake company news enters the media ecosystem. (hntrbrk.com)
- What happens when a company gets ratioed on Twitter. (klementoninvesting.substack.com)
Private assets
- Why retail investors are at a disdvantage when it comes to private assets. (blogs.cfainstitute.org)
- An investment fund that holds Birkin bags? Sure, why not. (forbes.com)
- Apollo Sports Capital has bought majority control of LaLiga club Atlético Madrid. (sportico.com)
Prediction markets
- CME Group ($CME) and FanDuel ($FLUT) to launch U.S. prediction markets platform. (sportico.com)
- Polymarket is taking steps toward a return to the U.S. (finance.yahoo.com)
- Polymarket data is coming to Yahoo Finance. (theblock.co)
AI
- Good luck trying to raise venture capital for something outside of AI. (institutionalinvestor.com)
- Wikipedia is used to train AI. Why some people don't like it. (theatlantic.com)
- AI broke the cover letter. (economist.com)
Media
- U.S. media are largely ignoring the COP30 climate talks. (theguardian.com)
- How Fox News misleads their audience - the case of Portland. (propublica.org)
Economy
- Overturning tariffs would be messy, but stimulative. (theatlantic.com)
- Due to the shutdown we may have lost October economic data, for good. (axios.com)
Earlier on Abnormal Returns
- Longform links: escaping the physical world. (abnormalreturns.com)
- 16 minutes of consensus personal finance wisdom. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: the joy of the journeying. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Mixed media
- Packy McCormick, "Most people work for the fruits. It is rare to find people who work for the work itself." (notboring.co)
- Tim Hanson, "The world doesn’t need more geniuses or demagogues. It needs more people tossing out ideas and being open to letting others pick up and out what’s useful." (permanentequity.com)
- Auren Hoffman, "Stop chasing approval. Start chasing love." (auren.substack.com)







