Quote of the Day
"Use AI for the jobs in your life. Don’t use AI for the gyms in your life."
(Derek Thompson)
Chart of the Day
The health care sector has stopped underperforming. (chart via YCharts)
Strategy
- 'Buying the dip' sounds better in theory than practice. (moneychangeseverything.substack.com)
- Why you can't optimize the unknowable. (ofdollarsanddata.com)
AI
- AI is increasing the range of outcomes for companies. (behaviouralinvestment.com)
- Why BDCs are selling off on fears of stress in the software sector. (ft.com)
Finance
- Dan Rasmussen, "Capital has flowed away from an industry [hedge funds] that has been forced to prove alpha under relentless scrutiny and toward one [private equity] that has largely avoided it." (mailchi.mp)
- Jump Trading is gaining stakes in Kalshi and Polymarket, in exchange for providing market making services. (theblock.co)
- The CFTC's Chicago office has essentially be shuttered. (barrons.com)
Coffee
- More evidence that coffee (and tea) consumption help reduce the incidence of dementia. (sciencealert.com)
- Luckin, China’s biggest coffee chain, opened its 30,000th store. (semafor.com)
- Starbucks ($SBUX) did a big menu makeover. (axios.com)
Economy
- Labor continues to lose GDP share. (wsj.com)
- There's no sign of an AI slowdown. (apricitas.io)
- Should AI have any impact on interest rates? (paulkrugman.substack.com)
Earlier on Abnormal Returns
- Research links: Bitcoin myths. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: a primary information channel. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
