Category: Commodities

Commodities

Friday links: a public-private divergence

Market Expert Jan 25, 2026

MarketsThere is a bull market in bombs and ammo. (ft.com)Still no signs of stress in the high yield bond market. (stockmarkettv.com)IPOsCrypto companies, like BitGO ($BTGO), are still going public. (wsj.com)EquipmentShare.com ($EQPT) just went public. (barrons.com)FinanceStartups are increasingly selling to other startups. (pitchbook.com)Capital One ($COF) is buying Brex. (news.crunchbase.com)The TikTok deal is done. (axios.com)AIA look at the interlocking deals that make up the AI industry. (bloomberg.com)How is Apple ($AAPL) going to implement AI on the iPhone? (spyglass.org)Think twice before giving OpenAI your confidential health info. (theverge.com)10 lessons from AI coding agents. (arstechnica.com)Anguilla is making bank on .ai domains. (sherwood.news)Earlier on Abnormal ReturnsPodcast links: the future of football. (abnormalreturns.com)What you missed in our Thursday linkfest. (abnormalreturns.com)Longform links: harvesting knowledge. (abnormalreturns.com)Is enshittification th

Personal finance links: controlling what you can control

Commodities

Thursday links: the penalty for lateness

Market Expert Jan 23, 2026

MarketsBond markets are distinguishing between debt on hyperscalers and industrials. (apolloacademy.com)Highly shorted stocks are seeing a bid. (giftarticle.ft.com)StrategySix lessons learned from Warren Buffett's investing career including 'Intangible assets are the new competitive moats.' (morningstar.com)Vishal Khandelwal, "View volatility as a fee and mistakes as tuition." (safalniveshak.com)True contrarian investing requires a strong stomach and long time frame. (morningstar.com)IPOsBy all accounts, a SpaceX IPO is really happening. (wsj.com)Fintech Ethos Technologies is going public. (techcrunch.com)Fund managementIndividual investors in private credit funds probably don't understand redemptions limits. (wsj.com)Multistrategy hedge funds are thriving while the rest of the industry flatlines. (advisorperspectives.com)AIAnil Dash, "In coding, AI takes over the drudgery, and lets coders focus on the most human and expressive parts." (anildash.com)The new graduate hiring squeeze is g

Commodities

Sunday links: gains in moderation

Market Expert Jan 21, 2026

MarketsJust because the media reports on something, doesn't mean its important. (tker.co)Everything went right for international stocks last year. (awealthofcommonsense.com)The market case for higher inflation. (trendlabs.com)StrategyPrices change before narratives do. (downtownjoshbrown.com)The long term is made up of a bunch of short terms. (rockandturner.substack.com)Trading is filled with what-ifs. (allstarcharts.com)ETFsDave Nadig, "In a world of 5,000 ETFs, provenance will matter." (etf.com)The more complex an ETF, the more skepticism required. (rogersplanning.blogspot.com)Just because someone creates an index, doesn't mean it's investable. (morningstar.com)These ETFs exclude Chinese stocks. (humbledollar.com)Prediction marketsTrading prediction markets is the new day trading. (npr.org)On the dangers of the media relying on prediction markets. (theatlantic.com)Insider trading is an issue for prediction markets. (wapo.st)Nevada is pushing back against prediction markets on sports.

Commodities

Tuesday links: a CEO’s job

Market Expert Jan 21, 2026

MarketsSmall caps are leading YTD. (stockmarketmedia.com)Japanese government yields continue to soar. (ft.com)StrategyWhy market timing is so difficult. (ofdollarsanddata.com)Five questions for Warren Buffett as he retires. (kingswell.io)CryptoBitmine ($BMNR) is buying more Ethereum. (theblock.co)What catalysts are left for Bitcoin? (sherwood.news)Strategy ($MSTR) is buying more Bitcoin. (theblock.co)Fund managementWhy Vanguard created two investment management groups out of one. (riabiz.com)How much the biggest hedge funds made for investors in 2025. (wsj.com)Movies'Zootopia 2' is now the highest grossing animated film in history. (variety.com)'Marty Supreme' is A24's highest grossing domestic movie. (variety.com)GlobalEurope owns a lot of U.S. assets. (ft.com)China's fertility rate hit a historic low. (wsj.com)Kiwis head to Australia for better opportunities and vibes. (nytimes.com)The U.S. pumps 20% of global oil production. (apolloacademy.com)TariffsA study finds that American cons

Commodities

Thursday links: a more absorbing life

Market Expert Jan 17, 2026

MarketsMaterials and energy are leading in 2026. (capitalspectator.com)Does it matter that the Mag 7 is undeperforming? (trendlabs.com)CompaniesNvidia ($NVDA) is in its third boom phase. (tomtunguz.com)Bitmine ($BMNR) is investing $200 in Beast Industries. (statnews.com)Prediction marketsKalshi and Polymarket are both working on parlay solutions. (ft.com)The two biggest prediction markets, Kalshi and Polymarket, have Don Jr. as an advisor. (nytimes.com)Health carePharma companies are on an acquisitions spree. (sherwood.news)Boston Scientific ($BSX) is buying Penumbra. (medtechdive.com)OpenAIA look at the value of all the AI companies founded by OpenAI alumni. (spyglass.org)A failure of OpenAI doesn't mean AI will have failed. (nytimes.com)AIWhy voice matters for AI. (spyglass.org)Why everyone is talking about Claude Code. (theatlantic.com)Morningstar ($MORN) has launched an index tracking late-stage pure-play GenAI companies. (wealthmanagement.com)Background checks are more important i

Podcast links: rebuilding infrastructure

Commodities

Friday links: a license to be creative

Market Expert Jan 17, 2026

Portfolio managementIf you had to pick only one variable, it would be earnings. (ritholtz.com)Total Portfolio Approach, explained. (morningstar.com)Reading is an investment superpower. (readtrung.com)StrategyMichael Saylor's superpower is storytelling. (nytimes.com)Strategy ($MSTR) keeps borrowing money and buying more Bitcoin. (sherwood.news)Active ETFsActive ETFs had a big 2025. (morningstar.com)JP Morgan Asset Management is the AUM leader in active ETFs. (bloomberg.com)AIWhy Google ($GOOGL) is unique in AI. (lesbarclays.substack.com)Energy isn't the only constraint on data center growth. (axios.com)Interest in Sora 2 has cooled. (sherwood.news)EconomyProtecting the independence of the Fed is everyone's responsibility, not just Jay Powell's. (stayathomemacro.substack.com)Nobody like rising property taxes, but that revenue would have to be replaced. (wsj.com)Earlier on Abnormal ReturnsPodcast links: rebuilding infrastructure. (abnormalreturns.com)What you missed in our Thursday linkfe

Personal finance links: creating capital

Commodities

Wednesday links: the worst thing ever

Market Expert Jan 15, 2026

MarketsEven after 2025, large cap stocks still lead the way over the past 10 years. (awealthofcommonsense.com)The last time emerging markets led global markets, it was 2017. (novelinvestor.com)FinanceThe U.S. Treasury basis trade is big and growing. (ft.com)Newly public Wealthfront ($WLTH) has some issues. (riabiz.com)Prediction marketsWhy Kalshi and Polymarket still differ in the U.S. (ft.com)Is listing contracts on military actions a good idea? (bloomberg.com)IranIran may be crushing dissent, but it's financial problems remain. (wsj.com)The U.S. has little effective influence over Iran. (danieldrezner.substack.com)HousingThe housing market is slowly loosening up. (axios.com)Why so few LA area houses have been rebuilt from the fires. (grist.org)Why the costs of replacing a roof are going up, think immigration. (nytimes.com)Why do elevators cost so much more in the U.S.? (youtube.com)EconomyWorkers took their smallest share of GDP since 1947. (fortune.com)How grocery prices have chang

Commodities

Monday links: counting your blessings

Market Expert Jan 14, 2026

StrategyFund performance consistency is overrated. (morningstar.com)If your portfolio manager has skill, you want a concentrated portfolio. Otherwise, index. (klementoninvesting.substack.com)Why rules matter for investors. (thefinancialpen.substack.com)CompaniesGoogle Gemini is going to power Apple's ($AAPL) Siri. (spyglass.org)The revival of GE ($GE) is an underhyped story. (bloomberg.com)Influenza Roche's Genentech manufactures Xofluza and Tamiflu. (wsj.com)More people should be taking Xofluza for influenza. (theatlantic.com)Weight lossAmazon ($AMZN) Pharmacy is going to offer Wegovy weight loss pills. (semafor.com)How obesity pills will transform the market for weight loss. (cnbc.com)People on weight loss drugs spend less on groceries. (sciencedaily.com)The FedBernanke, et al. "The reported criminal inquiry into Federal Reserve Chair Jay Powell is an unprecedented attempt to use prosecutorial attacks to undermine that independence." (jointstatement.substack.com)Trump REALLY wants c