Category: Commodities

Commodities

Wednesday links: inherent value

Market Expert Feb 5, 2026

MarketsA weaker dollar isn't a problem, yet. (awealthofcommonsense.com)MSCI ($MSCI) has put Indonesia's stock market on notice. (ft.com)Buyback growth is a global phenomenon. (snippet.finance)TechnologyIt’s easy to forget how much Apple ($AAPL) has cut its share count. (asymco.com)Sandisk ($SNDK) is benefiting from the memory chip boom. (ft.com)Google ($GOOGL) continues to invest in startups. (news.crunchbase.com)Data centersPush back against data centers is growing in rural America. (wsj.com)Elon wants to put data centers into space. (arstechnica.com)Weight loss drugsEli Lilly ($LLY) is taking weight drug market share. (sherwood.news)Pfizer ($PFE) has a viable entry into the weight loss drug market. (cnbc.com)Washington PostJeff Bezos, one of the richest men in the world, is gutting the Washington Post, including its sports department. (frontofficesports.com)It seems Jeff Bezos has grown bored with the Washington Post. (newyorker.com)It's not clear the Washington Post has a workable p

Commodities

Monday links: a bad tradeoff

Market Expert Feb 3, 2026

MarketsHow major asset classes performed in January 2026. (capitalspectator.com)What's going on with the dollar? (ritholtz.com)Prediction marketsThe CBOE ($CBOE) wants to bring back binary options. (wsj.com)Polymarket is explicitly banned in a number of countries. (wsj.com)On Polymarket's prospects in the U.S. (frontofficesports.com)Fund managementVanguard is cutting fund fees, again. (wsj.com)How investors are targeting funds with SpaceX stakes. (etf.com)AppleApple ($AAPL) has some 2.5 billion active devices. (asymco.com)Apple ($AAPL) has an AI problem, but it's not the one you think. (wsj.com)EconomyA look at Kevin Warsh's track record at the Fed. (stayathomemacro.substack.com)What's taking the Supreme Court so long to rule on tariffs? (wapo.st)Why we need better economic data. (mrzepczynski.blogspot.com)Earlier on Abnormal ReturnsAdviser links: disappointing outcomes. (abnormalreturns.com)What you missed in our Sunday linkfest. (abnormalreturns.com)Top clicks last week on Abnormal R

Saturday links: how software looks and feels

Commodities

Sunday links: a desperate fallback

Market Expert Feb 2, 2026

MarketsThe S&P 500 rose 1.45% in January 2026. (on.spdji.com)A look at just how crazy the silver market was this week. (rcmalternatives.com)The AI rollout is going to have a lot of downstream effects for companies. (tker.co)Prediction marketsPrediction markets have an insider trading problem. (theguardian.com)The NFL won't allow prediction market ads during the Super Bowl. (frontofficesports.com)Private assetsMany small and mid-sized PE managers are struggling to close new funds. (pitchbook.com)On the legal differences between registered funds and private funds. (cashandcarried.substack.com)TrumpHow an Abu Dhabi royal came to own 49% of World Liberty Financial. (wsj.com)Just how much the Trump family has profited in its first year of the administration. (newyorker.com)ICEHow ICE has put all law enforcement under a cloud. (theatlantic.com)The breakdown between local and federal law enforcement isn't a good thing. (politico.com)In Minnesota, the federal government has violated at least

Commodities

Friday links: ads ruin everything

Market Expert Jan 31, 2026

FinanceOn the high costs of gaining access to pre-IPO companies. (wsj.com)Why London serves as a global startup hub. (economist.com)How a loan goes from 100 cents on the dollar to default in weeks. (wsj.com)Kalshi is fighting legal battles on a number of fronts. (npr.org)CompaniesMagic the Gathering has become a bigger part of Hasbro's ($HAS) business. (ft.com)Walmart ($WMT) is paying up for pharmacy technicians. (axios.com)Once a high flyer, Allbirds ($BIRD) is now valued around $33 million. (techcrunch.com)AIMeta ($META) and Apple ($AAPL) are approaching AI from very different perspectives. (spyglass.org)How AI capital spending will reshape credit markets. (apolloacademy.com)AI crawlers are turning to back doors to paywalled content. (niemanlab.org)Generative engine optimization is the new SEO. (wsj.com)What if AI succeeds, and OpenAI fails? (noahpinion.blog)ICEThese companies are cleaning up on ICE spending. (ft.com)How ICE utilizes all manner of technologies. (washingtonpost.com)Th

Personal finance links: hedging an uncertain future

Commodities

Wednesday links: issues that matter

Market Expert Jan 30, 2026

MarketsCorporate credit spreads are tight. (morningstar.com)Everything working against the U.S. dollar right now. (ft.com)Tether is buying gold hand over fist. (theblock.co)So is the State Oil Fund of Azerbaijan. (ft.com)CryptoFidelity is launching a stablecoin. (wealthmanagement.com)What problem does tokenization solve? (coindesk.com)ETFsHow bond ladder ETFs work. (morningstar.com)A look at the puzzling performance of the ERShares Private-Public Crossover ETF ($XOVR). (jeffreyptak.substack.com)DeepSeekA look back at the DeepSeek freak out a year later. (spyglass.org)How DeepSeek changed the AI industry. (sherwood.news)EconomyHousehold balance sheets are putting governments to shame. (awealthofcommonsense.com)We are still waiting for a Supreme Court ruling on IEEPA. (ritholtz.com)In 2025 people pretty much stopped moving to Florida. (wsj.com)Earlier on Abnormal ReturnsPersonal finance links: hedging an uncertain future. (abnormalreturns.com)What you missed in our Tuesday linkfest. (abn

Commodities

Thursday links: the relentless pursuit of goals

Market Expert Jan 30, 2026

MarketsThe junk bond market has become a lot less junky. (morningstar.com)Platinum and palladium are joining in on the metals boom. (etf.com)Defense investment is 'no longer a dirty word' in Europe. (giftarticle.ft.com)Crypto ETFs are seeing outflows. (etf.com)StrategyA look at how emerging markets cycle from outperformance to underperformance. (awealthofcommonsense.com)Sean McLaughlin, "The discomfort of inactivity IS the work. The profits come from what you don't do as much as what you do." (allstarcharts.com)FinanceBlackstone ($BX) has some portfolio companies, like Jersey Mike's, it would like to sell you. (giftarticle.ft.com)A worrisome sign for private equity returns. (permanentequity.com)AIAnthropic and the contradictions of AI. (theatlantic.com)Microsoft ($MSFT) is capacity constrained. (tomtunguz.com)AI is pushing up the price of memory chips. (nytimes.com)EconomySome big companies have announced some big layoffs this week. (wsj.com)In response to U.S. bullying, countries are

Research links: choosing your discomfort

Commodities

Tuesday links: focusing on forex

Market Expert Jan 28, 2026

MarketsWho's buying all that gold? (ft.com)People are trading silver like crazy. (sherwood.news)StrategyThere's only one way to invest in global bonds, currency hedged. (morningstar.com)An example why you shouldn't take financial advice from billionaires. (fa-mag.com)FinanceCharles Schwab ($SCHW) is now well focused on Robinhood ($HOOD). (riabiz.com)CVC Capital Partners is buying U.S. credit firm Marathon Asset Management. (pitchbook.com)Fund managementActive ETFs are growing, but performance is lagging. (roberthuebscher.substack.com)Legendary fund manager Will Danoff of Fidelity Contrafund fame is retiring. (fa-mag.com)CompaniesThere's no clear successor to Jensen Huang at Nvidia ($NVDA). (msn.com)Amazon ($AMZN) is shutting down all Amazon Go and Fresh stores. (wsj.com)UPS ($UPS) is cutting some 30,000 jobs. (cnbc.com)Palantir ($PLTR) is an ICE contractor. (wired.com)Tim CookOm Malik, "The iron clasp of market expectations has turned him [Cook] into what he never meant to be: a man

Commodities

Sunday links: a bit unsustainable

Market Expert Jan 27, 2026

MarketsIs a meme stock moment ever possible again? (barrons.com)The boost in corporate margins is all coming from tech. (apolloacademy.com)Beware interest in brokerage stocks. (acadian-asset.com)StrategyEverywhere you look you see signs of reflation. (downtownjoshbrown.com)How stocks can hedge against inflation. (tker.co)CompaniesIntel's ($INTC) Trump bump was short-lived. (wsj.com)USA Rare Earth ($USAR) scored an investment from the Trump administration. (cnbc.com)Why ASML ($ASML) is valued in excess of $500 billion. (ft.com)Coupang is the Amazon of South Korea. (fiscal.ai)Sports gamblingIn the lead up to the Super Bowl, prediction markets are facing off against sports books. (wsj.com)Kalshi is on the offensive against Polymarket. (sportico.com)ETFsDespite a surge in dodgy products, the ETF industry is still a net boon for investors. (morningstar.com)What's behind the divergence between the iShares Core MSCI Emerging Markets ETF ($IEMG) and the Vanguard FTSE Emerging Markets ETF ($VW

Commodities

Monday links: spending to stay in place

Market Expert Jan 27, 2026

CommoditiesCommodities are off to a strong start this year. (capitalspectator.com)Gold topped $5000 per ounce for the first time ever. (sherwood.news)Central banks keep snapping up gold. (mrzepczynski.blogspot.com)CryptoBitmine ($BMNR) is buying more Ethereum. (theblock.co)Strategy ($MSTR) is buying more Bitcoin. (theblock.co)Corporate financeA potential downside of family control - persistent valuation discounts. (oldroperesearch.substack.com)A profile of David Sokol who was poised to be Warren Buffett's eventual replacement. (wsj.com)CompaniesHow Taiwan Semi ($TSM) is a brake on the AI bubble. (stratechery.com)Did you know Zoom ($ZM) has a stake in Anthropic? (barrons.com)Tech CEOs are noticeably silent. (axios.com)Fund managementVanguard now manages more than $1 trillion in assets outside the U.S. (ft.com)The reasoning behind management fees for alternative assets has changed over time. (cashandcarried.substack.com)DefenseMark Hertling, "Greenland’s military value is not hypothetic