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Commodities

Thursday links: solvency is a necessity

Market Expert Sep 5, 2026

BondsHow rising rates should change how you think about the bond market. (barrons.com)Your bond allocation shouldn't give you agita. (morningstar.com)StrategyWhy your investment strategy should change over time. (awealthofcommonsense.com)Lessons learned from Victor Niederhoffer's long and volatile career. (theatlantic.com)Venture capitalHow venture capital lost its way, and worse. (anildash.com)VCs who missed OpenAI and Anthropic are reassessing their processes. (nytimes.com)Not every business is meant to scale, but if you take venture capital you have to. (aswathdamodaran.blogspot.com)Are there VC businesses that are AI-proof? (wsj.com)Stay in touchDon't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)FoodFoodborne illnesses typically doesn't peak until late Summer, early Fall. (wired.com)Lettuce farmers are abandoning healthy crops. (nytimes.com)This S

Commodities

Friday links: living with leverage

Market Expert Sep 5, 2026

BondsThe correlation between stocks and interest rates is now negative. (axios.com)Norway's sovereign wealth fund is considering a reduction in bond holdings. (reuters.com)GoldNetherlands is moved some of its gold holdings from New York to London. (wsj.com)They may not be the last to do this. (paulkrugman.substack.com)Mary Childs talked with Jacob Goldstein, author of "Money: The True Story of a Made-Up Thing." (youtube.com)FinanceOura Health has filed for an IPO. (techcrunch.com)Softbank needs money. (ft.com)Fund managementA look at the difference between public REITs and semiliquid direct real estate funds. (morningstar.com)Investors are still looking to pull money from private credit funds. (barrons.com)Anti-trustGoogle ($GOOGL) lost three antitrust cases and will pay little cost. (arstechnica.com)The Trump administration has only brought one action to block a merger so far, and quickly settled. (theatlantic.com)Data centersPutting the scale of AI data center construction into p

Analysis

Nobody Knows Anything, Rate Expectations Edition

Market Expert Sep 5, 2026

Heading out the door for the Labor Day weekend, with blue skies and 85° temperatures, I had to share a chart. It’s from the San Francisco Federal Reserve (via Torsten Slok of Apollo) and shows Wall Street expectations for Federal Reserve rate action. It’s the perfect explainer for why forecasts tend to be… Read More The post Nobody Knows Anything, Rate Expectations Edition appeared first on The Big Picture.

Analysis

Lessons from Victor Niederhoffer’s Life

Market Expert Sep 4, 2026

I have been fascinated by Victor Niederhoffer for decades. I first learned about him in a New Yorker piece titled “The Blow-Up Artist;” I was intrigued by his unique strategies and by his tendencies to repeatedly boom and bust. That led me to have him on the podcast in 2017, after a recent… Read More The post Lessons from Victor Niederhoffer’s Life appeared first on The Big Picture.

Analysis

The Temptation To Take On More Clients To Build (3X) Enterprise Value: Kitces & Carl 198

Market Expert Sep 4, 2026

If the initial stages of building a firm are mostly about survival and prospecting, and the middle stages are about scaling teams and processes, then the latter stages of the firm become about determining what is "enough". This is especially true as the firm is able to do more complex work for higher-paying prospective clients,Read More... The post The Temptation To Take On More Clients To Build (3X) Enterprise Value: Kitces & Carl 198 first appeared on Kitces.com.

Clean sweep or divided Congress, these are the midterm-elections trades to make, says JPMorgan

My wife and I are in our 70s. Should we move to California and take on a bigger mortgage to be near our kids?

The AI cloud math is broken, and it’s creating a power shift within Big Tech

Snowflake’s stock is surging. Here’s what Wall Street analysts are saying.

Stock

There’s a new record number of 401(k) millionaires as retirement savings hold at all-time highs

Market Expert Sep 3, 2026

Retirement savings hovered at record highs in the second quarter, pushing the number of 401(k) millionaires to a record as investors focused on their long-term goals despite persistent anxiety about the broader economy, Fidelity Investments said Thursday.

Stock

People under 21 can’t use most sportsbooks — so they’ve wagered over $5 billion on Kalshi instead

Market Expert Sep 3, 2026

A new American Gaming Association analysis finds underage sports betting is flourishing on prediction markets.

‘I currently give him $1,000 a month’: My grandson has severe mental illness. How do I protect him after I’m gone?

Stock

‘Please don’t let this happen to you’: My best friend died without a will — her neglectful family gets everything

Market Expert Sep 3, 2026

“She struggled with the thought of leaving everything to people who, in her eyes, had never made much time for her.”

Personal finance links: supercharged fraud

Commodities

Wednesday links: attracting attention the wrong way

Market Expert Sep 3, 2026

MarketsSome random market insights including: Nvidia's ($NVDA) forward P/E keeps falling. (awealthofcommonsense.com)Diesel prices remain $2 a gallon above where they were pre-Iran war. (econbrowser.com)StrategyWhy market pundits are doing you any favors. (behaviouralinvestment.com)The stocks of great companies show big drops more often than you think. (brianferoldi.substack.com)CompaniesGoogle ($GOOGL) dodged a break up of its ads business. (axios.com)Novo Nordisk ($NVO) is betting on weight loss pills. (nytimes.com)It sure looks like someone knew a deal for GoPro ($GPRO) was coming. (ft.com)ETFsTIPS look attractive, but it's not as simple as buy a TIPS ETF. (morningstar.com)Institutional investors are swapping between the iShares Core S&P 500 ETF ($IVV) and Vanguard S&P 500 ETF ($VOO) to avoid dividends for tax purposes. (bloomberg.com)These ETFs generate the most implied revenue for sponsors. (etf.com)Stay in touchDon't miss a thing! Sign up for our daily e-mail newsletter. (abnorm

Analysis

$150 Trillion Global Economy (2030)

Market Expert Sep 3, 2026

I am a sucker for infographics like these: In 2025, Global GDP hit an all-time high of $118.4 trillion — about $14,406 per person worldwide. To reach $150T by 2030 — 26.7% higher than where we are now — would require 4 years of gains averaging 4.86%. Any combination of nominal growth plus… Read More The post $150 Trillion Global Economy (2030) appeared first on The Big Picture.