Category: Commodities

Commodities

Tuesday links: a wave of IPOs

Market Expert Jun 25, 2026

MarketsWhat happens to the Mag 7 when the big AI companies are public? (ft.com)IPOs and secondary sales highlight a shift in the market environment. (theatlantic.com)How the end of cheap capital changes things. (hbr.org)StrategyGlobal stock market return dispersion is historically high. (acadian-asset.com)The World Cup highlights a lot of our behavioral foibles. (behaviouralinvestment.com)Uncorrelated returns are hard to find, enter managed futures. (taxalphainsider.com)Fund managementThe ETF industry is on track for another record (inflow) year. (msn.com)Don't let the name fool you, not all hedge funds are in the same business. (oldroperesearch.substack.com)Apollo ($APO) is forced to cap withdrawals from the Apollo Debt Solutions fund. (citywire.com)TradingHow big a threat are perpetual futures to traditional exchanges? (wsj.com)Meta ($META) is reportedly building a standalone prediction market app. (nytimes.com)BrexitTen years on, Brexit isn't looking great. (axios.com)How the UK

Commodities

Wednesday link: expensive story stocks

Market Expert Jun 25, 2026

MarketsKorean memory maker SK Hynix wants to sell stock on the Nasdaq. (renaissancecapital.com)Micron ($MU) earnings have gone vertical. (axios.com)StrategyAn investor's first job is to avoid ruin. (safalniveshak.com)Why retail traders love story stocks. (brobible.com)FinanceSome life insurers are doubling dipping in private credit. (wsj.com)Credit ratings agencies are going easy on SpaceX ($SPCX). (advisorperspectives.com)CFTCThe CFTC is doing the heavy lifting for prediction market companies. (theblock.co)At this point, the SEC and CFTC are kind of a joke. (ft.com)BusinessSome companies like Costco ($COST) do more, and mean more, for their customers. (lefsetz.com)Even a little bit of time in the office for remote workers is helpful. (papers.ssrn.com)Career advice: don't steal commemorative garbage cans in broad daylight with people filming you. (brobible.com)EconomyWhat Kevin Warsh should learn from Alan Greenspan's tenure. (nytimes.com)Are we setting ourselves up for another fin

Commodities

Monday links: why trends persist

Market Expert Jun 23, 2026

MarketsSpaceX ($SPCX) stock is well off its highs. (futurism.com)SK Hynix has topped Samsung to become South Korea's most valuable company. (wsj.com)StrategyDon't kid yourself. You are not going to get rich calling market tops and bottoms. (awealthofcommonsense.com)How to think about a 'lost decade' for stocks. (rogersplanning.blogspot.com)Prediction marketsEconomists had a very different conception of prediction markets. (cnn.com)How Americans feel about prediction markets. (politico.com)FinanceLife insurers increasingly rely on privately rated bonds. (ft.com)The line between ETFs and mutual funds is increasingly blurred. (thedailyupside.com)VC investment into defense tech is booming. (ft.com)EconomyCompanies say the consumer is still strong. (thetranscript.substack.com)How extreme weather affects country GDP differently. (klementoninvesting.substack.com)Roger Lowenstein, "Mr. Greenspan shaped how modern central banks operate. But even he had to admit that his infatuation with mo

Commodities

Sunday links: accelerating abnormalities

Market Expert Jun 22, 2026

MarketsThe speed of the move in semiconductor stocks is stunning. (howardlindzon.com)Markets (and the world) just seem to move faster these days. (downtownjoshbrown.com)FinanceWhy Jane Street is betting big on AI. (wsj.com)Bain Capital's buyout of Kioxia, the former Toshiba Memory, is a historic win. (ft.com)SpaceXMSCI gave SpaceX ($SPCX) its lowest ESG score. (giftarticle.ft.com)SpaceX ($SPCX) scored investment grade ratings from Moody's, Fitch and S&P Global. (finance.yahoo.com)Leveraged ways to bet on SpaceX ($SPCX) are already ubiquitous. (cnbc.com)SpaceX ($SPCX) is as much an idea as a company. (theatlantic.com)CompaniesEven fast-growing companies are facing pressure to do more fewer less people. (gettheleverage.com)Company moats are not forever. (investing101.substack.com)Prediction marketsBe wary of videos of people claiming they are making bank on Polymarket. (wsj.com)Charles Schwab ($SCHW) is teaming with CBOE ($CBOE) for contracts tied to the SP& 500. (theblock.co)Law and

Commodities

Friday links: disposable software

Market Expert Jun 20, 2026

MarketsHow markets have performed under different Fed chairs. (chartkidmatt.com)Mid-cap industrial stocks are at all-time highs. (trendlabs.com)Why is volatility contained? (etf.com)Fund managementHow indexing took hold in bond funds. (citywire.com)It's hard to find data in favor of active management. (larryswedroe.substack.com)S&P held the line on early inclusion for the mega-IPOs. (aswathdamodaran.blogspot.com)PodcastsBarry Ritholtz talks with Seth Klarman, CEO and portfolio manager of The Baupost Group. (ritholtz.com)Joe Weisenthal and Tracy Alloway talk with Jeremy Grantham, co-founder of GMO, and author of "The Making of a Permabear: The Perils of Long-Term Investing in a Short-Term World." (podcasts.apple.com)Meb Faber talks with Charley Ellis, founder of Greenwich Associates, and author of "Great American Investments: A History of the Bold Initiatives that Shaped a Nation." (podcasts.apple.com)AIAI is making software disposable. (auren.substack.com)How are all those big AI '

Personal finance links: the point of money

Commodities

Wednesday links: a road to failure

Market Expert Jun 19, 2026

StrategyMost stocks aren't worth owning. (morningstar.com)How allocators should think about AI. (capitalallocators.com)Fund managementThe fund management business continues to concentrate assets in the top firms. (pionline.com)Why the alternatives industry is so interested in allocations into target date funds. (thealtview.substack.com)Frozen yogurtFrozen yogurt is seeing (another) comeback. (financialpost.com)Why are you really standing in line for frozen yogurt? (yourbrainonmoney.substack.com)IranThe official release of the MOU reached with Iran. (cnn.com)It's hard to characterize the Iran war as anything but a loss. (theatlantic.com)How Iran won the war. (noahpinion.blog)EconomyThe Treasury is increasingly dependent on T-bill issuance. (apollo.com)Farm bankruptcies are on the rise. (bloomberg.com)Earlier on Abnormal ReturnsPersonal finance links: the point of money. (abnormalreturns.com)What you missed in our Tuesday linkfest. (abnormalreturns.com)Research links: distinct econo

Commodities

Thursday links: too busy living

Market Expert Jun 19, 2026

DegensIs degen behavior becoming embedded and normalized? (fa-mag.com)Strategy ($MSTR) has a Stretch ($STRC) problem. (ft.com)StrategyBaby Boomers aren't going to crash the stock market. (awealthofcommonsense.com)Rules of thumb work until they don't. (novelinvestor.com)ETFsThere's nothing passive about passive investing. (advisorperspectives.com)Index methodologies matter. (etf.com)Prediction marketsCME Group ($CME) is suing the CFTC to stop perpetual futures. (theblock.co)What is the best way to police prediction markets? (advisorperspectives.com)AppleAn Intel ($INTC)-Apple ($AAPL) chip making deal seems legit. (sherwood.news)Higher memory prices means Apple ($AAPL) is going to have to raises prices. (asymco.com)CompaniesAt this point, what's the purpose of Berkshire Hathaway ($BRK.A)? (ft.com)Tyler Cowen talks with Dave Baszucki who is co-founder and CEO of Roblox ($RBLX). (conversationswithtyler.com)While everyone is focused on AI model companies, Databricks is growing rapidly.

Research links: distinct economic forces

Commodities

Tuesday links: active overload

Market Expert Jun 17, 2026

MarketsAn industry has already built up around SpaceX ($SPCX) derivatives. (axios.com)The AI boom is being fueled by debt. (axios.com)StrategySometimes models just stop working. (ofdollarsanddata.com)Seven lessons from the SpaceX ($SPCX) IPO. (fortunesandfrictions.com)AISpaceX ($SPCX) is buying Cursor. (wsj.com)Is AI really the culprit behind tech layoffs? (techcrunch.com)Nineteen thoughts about AI and Europe, including 'A reason why American companies don’t want to build their biggest data centers in Europe is political risk.' (siliconcontinent.com)Five insights from Josh Tyrangiel's new book, "AI for Good: How Real People Are Using Artificial Intelligence to Fix Things That Matter." (nextbigideaclub.com)MediaWhy the DOJ didn't block the Paramount ($PSKY) deal for Time Warner. (wsj.com)Why Fox ($FOX) wants Roku ($ROKU)...think data. (prospect.org)How Blumhouse continues to crank out hits. (readtrung.com)Apple TV is the new HBO. (lowpass.cc)OilThe cat is out of the bag. The Strait

Commodities

Sunday links: identifying excellent traders

Market Expert Jun 16, 2026

MarketsBig IPOs lock in a series of market events. (rockandturner.substack.com)Is European stock market a viable alternative to the U.S.? (wsj.com)How the AI boom is remaking the stock market. (ft.com)Can you build a better S&P 500? (tker.co)Private assetsZIRP did a number on PE firms. (fa-mag.com)Accounting firm Crowe agreed to sell a stake to KKR ($KKR). (wsj.com)Monroe Capital has had to limit withdrawals from a BDC. (citywire.com)Barry Ritholtz talks with Jean Eric Salata, chair of EQT Group. (ritholtz.com)ETFsIndex funds are booming, but so is retail trading. (awealthofcommonsense.com)Vanguard now has more ETF assets than Blackrock ($BLK). (msn.com)Schwab ($SCHW) now challenges Vanguard on ETF fees. (morningstar.com)How Vanguard approaches mega IPOs. (riabiz.com)How the SpaceX ($SPCX) IPO will affect space-related ETFs. (ft.com)CLO ETFs are seeing big inflows. (bloomberg.com)CompaniesThe trucking business has bottomed. (wsj.com)Why Elon Musk's personal cost of capital has bee

Commodities

Monday links: the railroad and AI booms

Market Expert Jun 16, 2026

MarketsA look at the stocks that have jumped more than 100% over the past year. (morningstar.com)The American stock market has shifted from buying back stock to issuing stock. (bloomberg.com)On the parallels between the railroad and AI booms. (newyorker.com)SpaceXRetail is betting big on SpaceX ($SPCX). (axios.com)There is is going to be plenty of volume in SpaceX ($SPCX) shares. (ft.com)SpaceX ($SPCX) performance matters more than index machinations. (wsj.com)AIHow Anthropic differs from OpenAI. (stratechery.com)Why Anthropic and the current administration are beefing. (spyglass.org)Users are increasingly mixing and matching AI models. (wsj.com)What if AI doesn't mean the end of software engineering? (theargumentmag.com)WorkYou can't increase luck in your career, but you can do this. (ritholtz.com)In the AI age, job references once again matter. (wsj.com)On the pros and cons of remote work. (wsj.com)Want a job? Respond quickly. (pubsonline.informs.org)IranSecondary powers hav