Friday links: out-of-sync investors

MarketsWhat happens if the stock market drops 30%? (awealthofcommonsense.com)Materials stocks have gone nowhere for three years now. (trendlabs.com)Gold has put Bitcoin to shame this year. (blockworks.co)The case against a stock market bubble. (sherwood.news)FinanceWill ETF share classes really move the needle? (etf.com)Bank stocks had a big year. (ft.com)AIWhat Nvidia ($NVDA) is getting with its $20 billion deal with Groq? (spyglass.org)'Anthropic will go public in 2026' and more predictions. (bigtechnology.com)Companies borrowed big in 2025 to build data centers. (nytimes.com)Oracle ($ORCL) stock had a tough quarter. (cnbc.com)HackersWhy hackers love the holidays. (axios.com)People are less likely to get phished on their phones. (wsj.com)SportsBen Simmons now controls the South Florida Sails Angling Club, a team in the Sports Fishing Championship. (frontofficesports.com)Who isn't buying a stake in an EFL football team these days? (bbc.com)How a private equity firm turned Williams Rac