Category: Commodities

Longform links: descriptive representation

Commodities

Thursday links: messy people run businesses too

Market Expert May 15, 2026

StrategyWhy stocks can fall for no obvious reason. (morningstar.com)Your choice of language, and graphs, greatly affect how you think about investing. (portfoliocharts.com)Tim Harford, "Betting on the future can protect us from risk, and it can make us smarter about risk too. But it can also corrode and corrupt." (timharford.com)Charles SchwabCharles Schwab ($SCHW) has launched spot Bitcoin and Ethereum trading to select retail clients. (theblock.co)How Charles Schwab ($SCHW) plans to use AI to service clients. (wealthmanagement.com)IPOsThe IPO pop is back. Cerebras ($CRBS) opens at a big premium. (cnbc.com)Index rule changes show we live in a new world. (axios.com)Barry Ritholtz talks with Dave Nadig about the SpaceX IPO and its effect on market indices. (ritholtz.com)FinanceThere is a bull market in space-themed ETFs. (etf.com)When do BDCs becoming 'screaming bargains'? (institutionalinvestor.com)How real is the NYC-to-Miami finance exodus? (ft.com)The SDNY is essentially giving wh

Commodities

Tuesday links: attached at the hip

Market Expert May 14, 2026

MarketsThe stock market rally is broadening out. (trendlabs.com)Stocks are rallying despite poor consumer sentiment. (carsongroup.com)StrategyDifferent stocks have differing durations. (flyoverstocks.com)Why AI-generated investment content is a waste for the writer and consumer. (behaviouralinvestment.com)TradingHow would Jane Street rank, return-wise, against the big hedge funds? (ft.com)Hudson River Trading is cleaning up as well. (ft.com)Private creditHow private credit managers can have different marks for the same loan. (ft.com)When it comes to private credit always read the footnotes. (mispricedassets.substack.com)Video content YouTube is going all out to keep creators in the fold. (nytimes.com)YouTube creators are turning to consultants and strategists to boost their businesses. (cnbc.com)Why video content is seemingly getting homogenized. (garbageday.email)Microdramas are red hot. (techcrunch.com)World CupSome World Cup host cities are now regretting their decision to host. (

Personal finance links: your specific circumstances

Commodities

Wednesday links: everyday people doing everyday things

Market Expert May 14, 2026

Fund managementStock market concentration is an issue, but do you know better than the market? (morningstar.com)The active/passive dichotomy is played out. (larryswedroe.substack.com)How mutual funds differ from CITs. (bloomberg.com)Prediction marketsCFTC Chair Michael Selig says prediction markets and sportsbooks are "two separate things." (axios.com)How users with inside information seek to hide on prediction markets. (nytimes.com)Private assetsIs daily pricing going to mess with the private credit story? (bloomberg.com)Private infrastructure funds are by definition long lasting. (pitchbook.com)Fresh inflows into private credit funds are drying up. (ft.com)Company reportingCompanies would do well not to reduce reporting frequency. (ft.com)We don't need semi-annual company reports, we need real-time reports. (ritholtz.com)CompaniesHow ($ASML) created a global monopoly. (worksinprogress.news)Activist investors are piling into Hewlett Packard Enterprise ($HPE). (semafor.com)Eli Lilly (

Commodities

Monday links: a deep appreciation

Market Expert May 12, 2026

MarketsThe stock market has powered through the war due to AI and semiconductors. (giftarticle.ft.com)Crazy markets can always get crazier. (awealthofcommonsense.com)Private assetsKKR & Co. is injecting $300 million into a private credit fund it manages, FS KKR Capital Corp. ($FSK). (fa-mag.com)Why credit skill matter for private credit managers. (larryswedroe.substack.com)IPOsAI chipmaker Cerebras is coming public this week. (cnbc.com)PE-backed Inspire Brands, home of Dunkin' Donuts, is coming public. (sherwood.news)Scooter company Lime is planning to go public. (pitchbook.com)Barnes & Noble is also prepping an IPO. (wsj.com)Wise Group PLC ($WSE) is now (dual) listed on the Nasdaq. (bloomberg.com)What happens to Tesla ($TSLA) stock when SpaceX goes public? (sherwood.news)AIOpenAI employees got a chance to cash out some of their shares. (wsj.com)Don't confuse tasks with jobs. QR codes didn't kill the server. (sophiebakalar.substack.com)How to regulate AI before it is too late. (hyp

Commodities

Sunday links: a rich and deep portfolio

Market Expert May 11, 2026

MarketsThe top 10 companies in the S&P 500 generate over a third of its earnings. (apollo.com)Have you checked out China's stock market recently? (trendlabs.com)UK stocks are having a moment. (global.morningstar.com)StrategyNobody actually earns 'average' returns. (tker.co)Successful investing is a trade off between 'cynicism and naive exuberance.' (contessacapitaladvisors.com)Why hedge fund managers are so often bearish in public. (awealthofcommonsense.com)Fund managementHow securities lending helps ETF investors. (etf.com)Zero management fee hedge funds sound good, in theory. (cashandcarried.substack.com)How is Vanguard Investor Choice working out? (riabiz.com)Prediction marketsFanDuel and DraftKings are pushing further into prediction markets. (frontofficesports.com)What to make of the pause on prediction market ETFs. (cnbc.com)CompaniesHow did AST SpaceMobile ($ASTS) garner a $25 billion valuation? (bloomberg.com)Google's ($GOOGL) free cash flow could fall to zero next year. (as

Commodities

Friday links: performance-chasing behavior

Market Expert May 9, 2026

StrategyIs the U.S. stock market now just a big bet on AI? (marginalrevolution.com)The problem with diversification: the worst performing asset classes bounce back when you least expect it. (rcmalternatives.com)Pundits love to cite rising national debt as a harbinger of doom. (awealthofcommonsense.com)What to look for in a market bubble. (wsj.com)FinanceThis ETF issuer just launched 34 funds in a single day. (etf.com)Are AI traders going to take over markets? (paulkedrosky.com)Rare Earth Americas ($REA) just went public. (semafor.com)AIThe circular AI economy is only getting more circular. (morningstar.com)The combined free cash flow of the four “hyperscalers” — Amazon, Alphabet, Microsoft and Meta has largely disappeared. (ft.com)It's hard to argue that Meta's ($META) products are getting better over time. (futurism.com)College sportsThe NCAA 'fixes' what isn't broken: March Madness. (npr.org)Colleges are increasingly trying to fire coaches 'for cause.' (nytimes.com)My Jumbotron is b

Personal finance links: no perfect equilibrium

Commodities

Wednesday links: an unlevel playing field

Market Expert May 8, 2026

MarketsSamsung has joined the $1 trillion market cap club. (finance.yahoo.com)UK borrowing rates hit their highest level since 1998. (bbc.com)Strategy10 lessons learned from Barry Ritholtz's "How NOT to Invest." (ritholtz.com)Financial literacy+financial discipline equals success. (ofdollarsanddata.com)CryptoStrategy ($MSTR) now says they may have to sell Bitcoin to pay dividends. (cnbc.com)Morgan Stanley ($MS) is rolling out cryptocurrency trading on its E*Trade platform. (theblock.co)FinanceJust how big are the coming SpaceX, OpenAI and Anthropic IPOs? This big. (paulkedrosky.com)Closed-end funds are (nearly) permanent capital, but is it the right structure? (economist.com)Private assetsWhat you need to know before buying a non-traded BDC. (morningstar.com)A closer look at the $30 billion Ares Capital ($ARCC) fund. (barrons.com)CompaniesAmazon ($AMZN) plays the long game. (stratechery.com)One thing a foldable iPhone should excel at. (spyglass.org)In 2026, Europe is minting unicorns

Commodities

Thursday links: choosing a passive provider

Market Expert May 8, 2026

MarketsSouth Korea's tech heavy stock market is on a tear. (axios.com)What happens when you buy stocks that benefit from an autocratic regime, and then that regime loses power. (ft.com)TradingKalshi just raised new capital at a $22 billion valuation. (nytimes.com)A look at suspected Insider trading in the crude oil futures market. (paulkrugman.substack.com)Fund managementWhy consistent fund outperformance is hard to find. (tker.co)Fidelity and Schwab ($SCHW) are putting the screws to recalcitrant ETF providers. (riabiz.com)Indexes have always evolved, but mega IPOs are accelerating things. (etf.com)Bank of New York Mellon Corp. and Robinhood are prepping for the launch of Trump Accounts. (fa-mag.com)AIOm Malik, "Like the railroads, hyperscalers have customers, workloads, and hence the monetization. They control the layer above the chips, and they are increasingly designing their own silicon to escape the Nvidia tax." (om.co)Companies that have stakes in OpenAI and Anthropic are booking

Commodities

Tuesday links: ad-supported AI

Market Expert May 6, 2026

CryptoBig layoffs at Coinbase ($COIN). (cnbc.com)Bullish ($BLS)said it will buy transfer agent Equiniti. (reuters.com)The SECElon gets off with a slap on the wrist from the SEC, re Twitter. (variety.com)The SEC has hit pause on prediction market ETFs. (finance.yahoo.com)Private assetsOn the differences between private and public real estate. (thealtview.substack.com)How much overlap is there between BDC portfolios? (ft.com)Fund managementWhy you are going to start seeing the Morningstar ($MORN) name on Vanguard index funds. (riabiz.com)Why Schroders felt the need to sell. (ft.com)AIThe scale of AI spending is hard to grasp. (axios.com)But AI remains capacity constrained. (thetranscript.substack.com)AI CEOs are backing away from the idea of it wiping out jobs. (noahpinion.blog)On the math behind ad-supported AI. (tomtunguz.com)EconomyLooking at the stagflationary April ISM reports. (bonddad.blogspot.com)A reckoning is coming for the oil market. (semafor.com)How long will people be mad

Commodities

Sunday links: the age of uncertainty

Market Expert May 5, 2026

MarketsTech stocks are outrunning their earnings. (chartkidmatt.com)The AI trade is booming, so is degneracy. (howardlindzon.com)Are markets complacent about cybersecurity risks? (tker.co)ETFsOn the risks of autocallable ETFs. (wsj.com)The more Wall Street is selling something, the faster you should run away. (humbledollar.com)The fight over mega-IPO index inclusion is a reminder there is no such thing as 'passive' investing. (wsj.com)Retirement plansExpanding access to retirement plans is a good thing. (semafor.com)The case against alternatives in 401(k) plans. (institutionalinvestor.com)CompaniesThe megacap companies shouldn't be able to grow as fast as they are. (gettheleverage.com)Apple ($AAPL) is actually reducing capex. (sherwood.news)Everybody wants to build THE super-app. (spyglass.org)Elon loves related party transactions. (sherwood.news)Berkshire HathawayBerkshire Hathaway ($BRK.A) now holds nearly $400 billion in cash equivalents. (fortune.com)Don't hold your breath waiti