Wednesday links: tough times for investors

MarketsHow the stock market took over American balance sheets. (awealthofcommonsense.com)Just how good are analysts at estimating earnings? (chartkidmatt.com)BondsThe spread on SpaceX ($SPCX) bonds are widening out. (ft.com)The iShares 0-3 Month Treasury Bond ETF ($SGOV) is nearing $100 billion in AUM. (etf.com)FinanceStripe, Advent have made an offer to buy PayPal ($PYPL). (reuters.com)Nobody really wants to go from quarterly to semi-annual corporate reporting. (mrzepczynski.blogspot.com)Private assetsApollo Global Management ($APO) is nearly unrecognizable from just a few years ago. (bloomberg.com)Why you can't just extrapolate PE returns into the future. (ludovicphalippou.substack.com)How GPs fund their commitments. (cashandcarried.substack.com)AIApple ($AAPL) is focused on building chips that can handle AI inference. (spyglass.org)Are we stuck with LLMs? (theatlantic.com)OpenAI is seemingly building an AI-driven smart speaker. (spyglass.org)Stay in touchDon't miss a thing! Sign up