MarketsHalf of this year’s big IPOs are trading below their offer price. (ft.com)Most market terminology does not have a precise definition. (ritholtz.com)Every generation has to deal with stuff, like Covid-19. (awealthofcommonsense.com)CryptoMicroStrategy ($MSTR) has purchased more Bitcoin. (theblockcrypto.com)The case for dollar-cost averaging into some cryptocurrency exposure. (impersonalfinances.com)Putting Bitcoin’s energy use into context. (marginalrevolution.com)CompaniesTwitter ($TWTR) has a new CEO. (theverge.com)In the U.S. alone, Amazon ($AMZN) has added 450 new facilities. (wsj.com)The IT department is an outdated idea. (wsj.com)Fund managementExpert networks have outgrown their hedge fund niche. (institutionalinvestor.com)Another VC, Thrive Global, is registering with the SEC. (wsj.com)GlobalChina’s population growth is set to turn negative far sooner than anticipated. (ft.com)All eyes are on South Africa to see how … [Read More...]

MarketsHow the stock market has, on average, responded to a strong Friday sell-off. (quantifiableedges.com)It’s hard not to notice all the FOMO out there. (humbledollar.com)Bond market participants have become more homogeneous. (economist.com)CryptoCrypto can be a nightmare at tax time. (barrons.com)Stephen Diehl, “If there is any innovation in crypto assets it’s not in software engineering, but in financial engineering.” (stephendiehl.com)CompaniesBig Tech are the new conglomerates. (nytimes.com)Do we really want our companies to break down along partisan lines? (nytimes.com)Why publishers are signing onto Twitter ($TWTR) Blue. (adweek.com)FinancePrivate equity deals are set to top $1 trillion in 2021. (wsj.com)Don’t be surprised if BNPL services come under more regulation. (protocol.com)Fund managementHow the ‘Great Resignation’ has changed the talent pool for asset … [Read More...]

OmicronWhat we know about the Omicron variant. (statnews.com)There is a wide range of potential outcomes with Omicron. Right now we really don’t know much. (emilyoster.substack.com)Nu seems to be spreading more rapidly in South Africa. (ft.com)Countries have been quick to impose travel restrictions on South Africa and neighboring nations. (wsj.com)Dutch authorities have isolated passengers from two South African flights. (washingtonpost.com)Omicron, may or may not, escape vaccines but we have to plan accordingly. (marginalrevolution.com)We shouldn’t be surprised new variants are popping up. (bloomberg.com)VaccinesVaccine makers, including Moderna ($MRNA), are working on omicron-specific vaccine candidates. (on.ft.com)AstraZeneca ($AZN) is running out potential customers in the UK. (ft.com)Longer term data for the Pfizer ($PFE) vaccine in 12-15 year olds looks good. (statnews…. [Read More...]

AutosDon’t turn in your leased car until you check the price of it in the market. (nytimes.com)You can’t talk about EVs without mentioning tax credits. (wsj.com)Climate-controlled seating is becoming a mass market item. (marketwatch.com)TransportBoats are the next industry to go electric. (bloomberg.com)Porsche has acquired a majority stake in e-bike maker Greyp. (theverge.com)Are we getting any closer to drone-based deliveries? (techcrunch.com)EnergyWhy optimism is now rising for the prospects of nuclear fusion. (on.ft.com)If the future is electric, then we need to recycle spent batteries. (reasonstobecheerful.world)Environment’Climate refugees’ are now a thing in the U.S. (politico.com)Farms are a big new market for cabon credits. (nytimes.com)AnimalsArmadillos have made their way into North Carolina. (wired.com)How do pigeons … [Read More...]

The bizSpotify ($SPOT) is making a push into audiobooks. (sleepwell.substack.com)CompaniesGuy Raz talks with Brian Armstrong CEO of Coinbase ($COIN). (npr.org)Patrick O’Shaughnessy talks with Will Marshall who is the co-founder and CEO of Planet. (joincolossus.com)EconomyMichael Batnick and Ben Carlson joined Derek Thompson to talk about the reality of inflation and the pandemic economy. (theringer.com)Cardiff Garcia talks with economist Diane Coyle about her new book “Cogs and Monsters: What Economics Is, and What It Should Be.” (shows.acast.com)Quinn Emmett talks with Christopher Mims about how innovation works. (podcast.importantnotimportant.com)AlternativesChristine Benz and Jeff Ptak talk with Phil Huber author of “The Allocator’s Edge: A Modern Guide to Alternative Investments and the Future of Diversification.” (morningstar.com)Barry Ritholtz talks with Edwin … [Read More...]

StrategyToday is a good reminder why bonds have a role in a portfolio. (thereformedbroker.com)There is a cost to trying to outperform the market. (theirrelevantinvestor.com)Why you need an investment plan before you start. (awealthofcommonsense.com)DisneyESPN is losing cable subscribers while gaining online subscribers. (deadline.com)Disney ($DIS) is stepping up its streaming content spending in 2022. (thewrap.com)EVsDeliveries of GM’s ($GM) Hummer Edition 1 start next month. (engadget.com)On the road with the new Ford ($F) Mach-E Mustang. (arstechnica.com)A rave review for the Rivian ($RIVN) R1T pickup truck. (nytimes.com)ShoppingBlack Friday was changing even before the pandemic. (protocol.com)Twitter ($TWTR) wants in on the live shopping action. (theverge.com)IndiaThe Paytm IPO was a mess. (ft.com)India’s fertility rate is rapidly falling. (washingtonpost.com)DemographicsWhat the growing gender … [Read More...]

BooksAn excerpt from “The Plant Hunter: A Scientist’s Quest for Nature’s Next Medicines” by Cassandra Quave. (wsj.com)An excerpt from “The Other Dark Matter: The Science and Business of Turning Waste into Wealth and Health” by Lina Zeldovich. (slate.com)An excerpt from Brad Stulberg’s “The Practice of Groundedness.” (wsj.com)Big TechClickbait sites are a key part of the misinformation network. Facebook ($FB) and Google ($GOOGL) enable them. (technologyreview.com)You can’t talk about Big Tech without talking about the role music and entertainment played in their rise. (tedgioia.substack.com)CryptoCrypto isn’t BS, but the crypto-proponents can be pretty annoying. (modelcitizen.substack.com)What are the newly crypto-wealthy going to buy with it? Influence, perhaps? (josephcwells.com)LongreadsSahil Bloom, “The Cantillon Effect is the most important economic concept … [Read More...]

MarketsThe best stocks of 2020 are taking it on the chin in 2021. (theirrelevantinvestor.com)Higher inflation is good for value stocks. (awealthofcommonsense.com)This stock market recovery is ahead of prior ones. (capitalspectator.com)More stocks are making 52-week lows. (ft.com)Mortgage rates are higher than they were a year ago. (housingwire.com)Talking points16 talking points that will make you seem smarter including ‘Residential construction is happening like it’s 1974.’ (tker.co)10 things that you will make you sound like you know crypto including ‘Imagine never having to come up with a username or password ever again. Your crypto wallet *is* your sign-in.’ (bloomberg.com)CryptoIndia’s crypto crackdown is making for some weird pricing. (bloomberg.com)What if Bitcoin, and other coins, really do replace gold as a store of value? … [Read More...]

AlternativesRichard Ennis, “U.S. equity market beta has been an important driver of return across the board — in public markets and private; in hedge funds; in real estate; in U.S. and non-U.S. equities; and in some segments of fixed income…” (institutionalinvestor.com)Why private equity replication has made little headway against the real thing. (bloomberg.com)FactorsFactor investors need to have a long time horizon to see a payoff. (evidenceinvestor.com)An overview of fundamental value strategies. (sr-sv.com)How to combine different momentum strategies. (quantpedia.com)Just because high beta has negative alpha doesn’t low beta has positive alpha. (alphaarchitect.com)ResearchDoes the day of the month matter when it comes to implementing a tactical asset allocation strategy? (allocatesmartly.com)Cap-weighted indices aren’t perfect, then again … [Read More...]

MarketsA lot of the market’s high fliers have already pulled back. (compoundadvisors.com)Tesla’s ($TSLA) options volume is a huge outlier. (ft.com)The stock market has historically loved Thanksgiving. (sentimentrader.com)The ‘overnight effect’ is waning. (priceactionlab.com)StrategyWhy this market era will look like in the rearview mirror. (thereformedbroker.com)It’s hard to get around the idea that the market is overvalued. (ofdollarsanddata.com)CryptoThere’s no reason to believe that Bitcoin is an inflation hedge. (morningstar.com)Why crypto transactions have so many decimal places. (bloomberg.com)EVsICE powered vehicles aren’t going away any time soon, but the trend toward EVs is clear. (npr.org)Pickup trucks are the vehicle of choice for American men. Will they make the leap to EVs? (theatlantic.com)The Ford ($F) F-150 Lightning will soon be able to charge … [Read More...]

MarketsIn the markets, two things can be true at the same time. (awealthofcommonsense.com)On the importance of having in place a well-defined investment strategy. (investmenttalk.substack.com)CryptoWhen China essentially banned cryptocurrencies, miners pulled their machines out of the country. (ft.com)Hackers are increasingly using social engineering to get access to crypto customer accounts. (wsj.com)You can’t invest in crypto without thinking about security. (morningstar.com)MediaBig media is going all out to bring back writers who launched their own newsletter. (axios.com)The Information has been a standout in the new media space. (ft.com)The Athletic shows the limits of a subscription-only model. (bloomberg.com)How beehiiv differs from Substack. (execsum.co)NetflixNetflix ($NFLX) has plans to make more ‘Red Notice’ type blockbusters. (nytimes.com)Netflix ($NFLX) is buying its … [Read More...]

StrategyThree ways to rebalance your portfolio without actually selling. (wsj.com)When things are changing quickly, experience can be a hindrance. (theirrelevantinvestor.com)The best investors often do the least. (novelinvestor.com)CryptoDave Nadig, “It is simultaneously true that the most interesting financial innovations in nearly a century are happening right now, and at the same time, some wild scams, malfeasance, and generalized stupidity are going to keep making headlines, based on precisely the same underlying technologies.” (etftrends.com)What did Crypto.com get for its $700 million? (nytimes.com)VentureIt’s hard not to marvel at the growth of VC-backed companies. (theirrelevantinvestor.com)On the state of the fintech landscape. (a16z.com)Sierra Space aims to build a private space station. (axios.com)Party Round wants to make it easier to fund … [Read More...]

PfizerWhy Pfizer ($PFE) is against lifting vaccine IP restrictions. (bloomberg.com)Pfizer ($PFE) has asked the FDA to authorize its new antiviral pill. (biopharmadive.com)Pfizer ($PFE) is licensing its antiviral treatment to more countries. (washingtonpost.com)BoostersThe CDC expanded booster eligibility to all adult Americans. (statnews.com)Even prior to the CDC’s move, a lot of states and localities had already expanded access to boosters. (wsj.com)Germany is recommending boosters for all adults. (reuters.com)Why you should get boosted. (theatlantic.com)Vaccine mandatesWhy vaccine mandates work – the psychology of regret. (washingtonpost.com)Disney ($DIS) is mandating vaccines for children for its cruises. (fortune.com)The AMA, and others, are urging businesses to mandate vaccinations. (washingtonpost.com)A short history of school vaccine mandates. (npr.org)AntiviralsIt’s not clear that antivirals will be as effective in … [Read More...]

TeslaTesla ($TSLA) is adding Starlink satellite dishes to its supercharger stations. (theverge.com)Tesla ($TSLA) is trying something new in its German factory. (bloomberg.com)Lucid MotorsA profile of Peter Rawlinson who is CEO of Lucid Motors ($LCID). (nytimes.com)The Lucid Air Is the 2022 MotorTrend Car of the Year. (motortrend.com)AutosThe EV companies have vastly exceeded the market cap of existing auto companies. (ft.com)While defending hybrids, Toyota ($TM) inches into the EV market. (axios.com)Ford ($F) is moving to secure its semiconductor supply chain. (wsj.com)UPS ($UPS) is expanding their collaboration with Waymo. (theverge.com)EnergyWhat a world of cheap, fusion energy would look like. (bloomberg.com)It’s not clear that Texas’s energy system is ready for another wave of freezing weather. (arstechnica.com)Bill Gates-backed TerraPower is seto to … [Read More...]

BooksA Q&A with David Henkin author of “The Week: A History of the Unnatural Rhythms That Made Us Who We Are.” (theatlantic.com)An excerpt from “Viral: The Search for the Origin of Covid-19” by Alina Chan and Matt Ridley. (wsj.com)A Q&A with Nick Offerman author of “Where the Deer and the Antelope Play: The Pastoral Observations of One Ignorant American Who Loves to Walk Outside.” (gq.com)WealthA profile of the Bridgespan Group that helps the wealthy give away their money. (nytimes.com)A look inside the world of private placement life insurance. (moontowermeta.com)FinanceA Q&A with Michael Mauboussin, co-author of “Expectations Investing: Reading Stock Prices for Better Returns.” (riaintel.com)A big chunk of the financial system still runs on … [Read More...]

Markets30-year mortgage rates have ticked above 3.0% per Freddie Mac. (housingwire.com)Per this model, the 10-year Treasury is trading 50 bp rich. (capitalspectator.com)On the market impact of a plunge in consumer confidence. (sentimentrader.com)CompaniesThe features in Twitter ($TWTR) Blue should be free. (theverge.com)How Chewy.com ($CHWY) succeeded where others failed prior. (businessofbusiness.com)Grammarly was recently valued at $13 billion. (techcrunch.com)FinanceCME’s ($CME) plan to move into the cloud could strand some technology investments. (wsj.com)Crypto platform Gemini just raised $400 million at a $7.1 billion valuation. (forbes.com)BoeingThe Boeing ($BA) 737-Max had flaws that led to two major crashes, but the company blamed the pilots. (bloomberg.com)Like it or not, you will likely fly on a Boeing ($BA) 737-Max in the future. (wapo.st)EntertainmentWhat if … [Read More...]

StrategyThe stock market is not the economy. (compoundadvisors.com)A Q&A with Michael Mauboussin, co-author of “Expectations Investing: Reading Stock Prices for Better Returns.” (riaintel.com)CryptoThe SEC is eyeing a crackdown on DeFi. (doomberg.substack.com)The case against buying a celebrity-backed NFT. (bloomberg.com)LA’s Staples Center to become Crypto.com Arena. (espn.com)AppleApple ($AAPL) has been pretty quite on the M&A front. (aboveavalon.com)The M1 chip has changed the trajectory for Apple ($AAPL) Macs. (macworld.com)Apple ($AAPL) is moving toward a ‘Right to Repair’ model. (appleinsider.com)TravelA Q&A with Airbnb ($ABNB) CEO Brian Chesky about the blurring lines of work and travel. (theatlantic.com)Is enough being done to combat unruly passenger behavior? (wsj.com)Venture capitalSweetgreen is going public and Fidelity and T … [Read More...]