Friday links: insane obstacles
April 2026The S&P 500 returned 10.49% in April 2026. (on.spdji.com)How major asset classes performed in April. (capitalspectator.com)MarketsMarc Rubenstein, "Arbitrage is a broad term and it’s often misused." (netinterest.co)Lessons learned from the semiconductor stock melt up. (scheplick.com)There are still opportunities to dig around in microcaps. (microcapclub.com)Investing success depends on path dependency. (rockandturner.substack.com)Prediction marketsThe Senate has banned Senators and their staff from trading on prediction markets. (politico.com)Clear Street is teaming up with Kalshi to give its hedge fund clients access. (bloomberg.com)SpaceXA lot of people think they own SpaceX shares. Some will be disabused. (nytimes.com)S&P is ready to cave to the coming mega IPOs to make for earlier index entry. (msn.com)Blue Owl funds sold half their SpaceX stake at a $1.25 billion valuation. (reuters.com)AICloud businesses saw soaring revenue in Q1. (tomtunguz.com)Apple ($AAPL) is side
April 2026
- The S&P 500 returned 10.49% in April 2026. (on.spdji.com)
- How major asset classes performed in April. (capitalspectator.com)
Markets
- Marc Rubenstein, "Arbitrage is a broad term and it’s often misused." (netinterest.co)
- Lessons learned from the semiconductor stock melt up. (scheplick.com)
- There are still opportunities to dig around in microcaps. (microcapclub.com)
- Investing success depends on path dependency. (rockandturner.substack.com)
Prediction markets
- The Senate has banned Senators and their staff from trading on prediction markets. (politico.com)
- Clear Street is teaming up with Kalshi to give its hedge fund clients access. (bloomberg.com)
SpaceX
- A lot of people think they own SpaceX shares. Some will be disabused. (nytimes.com)
- S&P is ready to cave to the coming mega IPOs to make for earlier index entry. (msn.com)
- Blue Owl funds sold half their SpaceX stake at a $1.25 billion valuation. (reuters.com)
AI
- Cloud businesses saw soaring revenue in Q1. (tomtunguz.com)
- Apple ($AAPL) is sidestepping the AI capex boom. (spyglass.org)
- The surge in hyperscaler capex spending is stunning. (om.co)
- How Anthropic is using Datadog ($DDOG) services. (hntrbrk.com)
- AI bubble talk is falling by the wayside as usage ramps up. (theatlantic.com)
Crypto
- Olga Kharif, "What is unfolding has no precedent in American financial life. A sitting president’s family holds financial stakes in a live token project — one setting governance rules, directing treasury sales, collecting proceeds — while the people who signed up find themselves with limited options to exit." (bloomberg.com)
- A company affiliated with Trump's sons is buying a tungsten mine in Kazakhstan. (ft.com)
- What's going on with Alt5 Sigma Corp. ($AIFC)? (futurism.com)
QSR
- How Casey's General Stores ($CASY) became a huge winner. (freedomdaysolutions.com)
- Subway's store count has fallen for ten straight years. (qsrmagazine.com)
- Dirty soda is showing up everywhere these days. (axios.com)
Economy
- Weekly initial jobless claims continue to confound. (bonddad.blogspot.com)
- Some signs of worry for the economy. (econbrowser.com)
- How higher gasoline prices are affecting consumers. (axios.com)
Earlier on Abnormal Returns
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: intertwined fates. (abnormalreturns.com)
- Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
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