Category: Commodities

Commodities

Friday links: overhauling your portfolio

Market Expert Mar 21, 2026

StrategyBig portfolio changes are hard to reverse. (wsj.com)How your strengths and weaknesses as an investor relate. (microcapclub.com)Private assetsGoldman ($GS) and JPMorgan Chase ($JPM) are offering hedge funds ways to bet against the private credit market. (msn.com)What will private credit look like on the other side of a redemption cycle? (morningstar.com)This vintage of software buyouts looks most at-risk. (thealtview.substack.com)BusinessTexas is making its pitch to corporate America. (ft.com)Data centers are a boon to construction company margins. (sherwood.news)Align Technologies ($ALGN) is the biggest user of 3-D printers in the world. (wired.com)The funeral business is ripe for disruption. (news.crunchbase.com)Nilay Patel talks with Rich Greenfield about Parmount's ($PSKY) deal for WBD. (theverge.com)StartupsKalshi has raised more than $1 billion at a $22 billion valuation. (theblock.co)Employee share tender offers are often reserved for just the biggest startups. (pitchbook

Personal finance links: extended expenses

Commodities

Wednesday links: avoiding complexity

Market Expert Mar 19, 2026

OilCommodities have been the only haven YTD. (capitalspectator.com)A look beyond the headlines in the oil market. (ft.com)The Strait of Hormuz is not entirely closed off. (sherwood.news)StrategyThe median alternative investment is probably not worth your time. (ritholtz.com)Investors get in trouble when they have big asset-liability mismatches. (awealthofcommonsense.com)The best charts are off the beaten path. (chartkidmatt.com)Fund managementThematic ETF launches are now in overdrive. (morningstar.com)Vanguard's TDFs do exactly what you think. (morningstar.com)FinanceWhich of OpenAI, Anthropic or SpaceX are going to IPO first? (om.co)Can AI disrupt the Bloomberg Terminal? Adherents are skeptical. (wsj.com)Multi-strategy hedge funds are seeing more pods jump ship to start their own funds. (bloomberg.com)Just how big is private credit? (ft.com)RegulationThe SEC and CFTC have issued new crypto guidance. (theblock.co)Eliminating quarterly reports will do nothing to encourage more companie

Commodities

Monday links: debased indices

Market Expert Mar 18, 2026

MarketsThere is plenty of dispersion in S&P 500 stocks this year-to-date. (axios.com)IPOsOwen Lamont, "Stock market bubbles are often heralded by specific IPOs which mark their beginning and not necessarily their end." (acadian-asset.com)Will S&P follow Nasdaq down the road of early index entry for big IPOs like SpaceX? (giftarticle.ft.com)VCWhere Tether is investing it vast cash holdings. (pitchbook.com)Why it doesn't really make sense to talk about 'venture capital' as one thing anymore. (investing101.substack.com)Private assetsPrivate credit funds have a transparency problem. (wsj.com)Prime brokers are moving to give hedge funds access to prediction markets. (bloomberg.com)AIBen Thompson, "(I)f agents are making Anthropic and OpenAI the point of integration in the value chain, then the bubble argument that these companies are overvalued...may not be correct." (stratechery.com)xAI and Meta show throwing more money at AI doesn't necessarily work. (spyglass.org)Tomasz Tunguz, "Like

Commodities

Sunday links: consequential things

Market Expert Mar 16, 2026

MarketsIf you're not confused right now, you're doing it wrong. (howardlindzon.com)Degens are now trading perpetual oil futures 24/7. (wsj.com)StrategyThere's no investing without some anxiety. (tker.co)Sean McLaughlin, "Every trade exists in its own context with its own participants and its own set of circumstances that have never existed before and will never exist again." (allstarcharts.com)CompaniesMicrosoft ($MSFT) trades its lowest relative valuation in over a decade. (barrons.com)Dick's ($DKS) is the obvious winner of the youth sports boom. (wsj.com)Americans have once again fallen in love with Barnes & Noble. (theatlantic.com)MetaMeta ($META) is reportedly planning big layoffs. (techcrunch.com)There is a backlash against devices like Meta's smart glasses. (wsj.com)Private creditTo gate, or not to gate, that is the question for private credit managers. (pitchbook.com)On the difference good PIKs and bad PIKs. (larryswedroe.substack.com)The mediaThe FCC commissioner has threaten

Commodities

Friday links: real economic benefits

Market Expert Mar 14, 2026

Retail tradingFive minute bets on crypto? Sure, why not? (ft.com)Are retail traders finally pulling back? (sherwood.news)FinanceNasdaq ($NDAQ) is bending over backwards to accommodate SpaceX. (wsj.com)SPVs are booming. Not all of them have clear title to the stock they are selling. (bloomberg.com)Wealthfront ($WLTH) is seeing outflows from its cash management business. (riabiz.com)The structured note business keeps growing. (citywire.com)AIIf the Department of Defense can blacklist Anthropic then no company is safe. (wsj.com)A political backlash against AI was brewing, the Iran war just backburnered it. (riskgaming.com)There's a lot more to replacing labor than just automating tasks. (davidoks.blog)GLP-1sHow the market for GLP-1s has evolved. (wapo.st)Not everyone responds well to GLP-1s. (nytimes.com)Eli Lilly ($LLY) warns about GLP-1 knockoffs. (biopharmadive.com)Art marketArt auctions saw a boost in sales last year. (barrons.com)David Gilmour's 'Black Strat' just sold for a recor

Personal finance links: addressing both things

Commodities

Wednesday links: highly skewed information

Market Expert Mar 13, 2026

Private assetsJP Morgan Chase ($JPM) is reportedly tightening lending standards. (barrons.com)The Cliffwater Corporate Lending fund has experienced notable redemption requests. (citywire.com)Why the investment industry is hell-bent on pushing alternative assets into TDFs and individual invesrtor portfolios. (thealtview.substack.com)Asset managers are now trying to push private assets on European individual investors. (ft.com)IndicesWhy Nasdaq ($NDAQ) is planning to cave to Elon. (keubiko.substack.com)What happened to the Wilshire Indices business? (ft.com)AIOpenAI is rapidly bundling and unbundling features. (spyglass.org)Can AI predict human behavior better than humans? (wsj.com)How LLMs could change public discourse. (conspicuouscognition.com)AppleThe MacBook Neo is a real Mac. (sixcolors.com)The MacBook Neo is 'enough' for the vast majority of people. (om.co)John Gruber, "The Neo is a mass-market device that was conceived of, designed, and engineered to expand the Mac user base to

Commodities

Thursday links: short-run market fun

Market Expert Mar 13, 2026

CompaniesApple ($AAPL) now makes about 25% of iPhones in India. (asymco.com)The LiveNation ($LYV) deal will do nothing to bring down ticket prices. (boondoggle.substack.com)Why are people so freaked out about institutional ownership of single family homes? (marginalrevolution.com)Private assetsInsurance companies have a lot of private credit exposure. (philbak.substack.com)2028 will see a lot of lower-grade software debt mature. (apolloacademy.com)Are target date and 401(k) managers going to scared off from adding private asset exposure? (fa-mag.com)The investment industry has overhyped the case for private assets. (thealtview.substack.com)AIWill AI turn out to be a good bubble or a bad bubble? (theatlantic.com)Why AI may never be cheaper that it is right now. (axios.com)The best Go players now mimic AI moves. (technologyreview.com)IranCharles Edward Gehrke, "The system that governs international shipping is, at its foundation, voluntary." (theconversation.com)How the U.S. came to stri

Commodities

Tuesday links: a very simple model

Market Expert Mar 11, 2026

AlternativesThe private credit industry has failed to educate their investors. (bloomberg.com)Why LPs are wary of GP stake investors. (pitchbook.com)Bill Ackman wants your money. (semafor.com)CompaniesIt looks like Live Nation ($LYV) is going to largely get an anti-trust pass. (thebignewsletter.com)Retailers are trying to wean customers off of free shipping. (wsj.com)How Lego bucks negative toy trends. (cnbc.com)AIIt's hard not to be skeptical about the AI data center buildout. (om.co)Management consultants are the new AI evangelists. (wsj.com)What is AI comes up with solutions we can't understand? (asimov.press)How AI is changing mathematics. (newscientist.com)IranWhy the U.S. reversed course on Ukrainian drone defense technology. (axios.com)The administration loves to use the word 'war' except in an actual war. (theatlantic.com)Sri Lanka didn't ask to be involved in the Iran war. (wsj.com)War is not entertainment. (thebulwark.com)EconomyMore signs that the U.S. economy has stopped n

Commodities

Sunday links: doing their job

Market Expert Mar 10, 2026

OilHow much higher will gasoline prices go? (natesilver.net)How do higher oil prices affect the stock market? (awealthofcommonsense.com)Prediction marketsThe Kalshi and Polymarket CEOs are very public-facing. (npr.org)Kalshi is now targeting women as customers. (wsj.com)Betting on war is not a good look. (npr.org)Private assetsThe stocks of the big private asset managers are feeling the pain. (awealthofcommonsense.com)Robinhood Ventures Fund 1 ($RVI) traded down on its debut. (pitchbook.com)CompaniesCostco ($COST) wants to pass tariff refunds onto consumers. (axios.com)Even Nvidia ($NVDA) caves on some pretty basic DEI stuff. (linkedin.com)Which software companies are most at-risk from AI? (tomtunguz.com)AI policyThe U.S. is letting the chips fall where they may when it comes to AI. (om.co)If AI is a weapon, why don't we regulate it? (noahpinion.blog)ICEICE is skimping on agent training. (wapo.st)ICE is now targeting American citizens. (wsj.com)Law and orderThe justice system has a