Markets
- Nothing magical happens for markets on January 1st. (optimisticallie.com)
- You can safely ignore all those year-head strategist reports. (rupakghose.substack.com)
Crypto
- A strategic Bitcoin reserve betrays everything about it’s founding ethos. (bloomberg.com)
- Bitcoin and the stock market have had a positive correlation since 2020. (priceactionlab.com)
- Crypto types seem indifferent to crypto-related fraud. (freddiedeboer.substack.com)
Companies
- Omnicom Group ($OMC) agreeing to acquire Interpublic Group ($IPG) would have been a big deal a decade ago. (axios.com)
- Intel’s ($INTC) board didn’t do the company any favors. (fabricatedknowledge.com)
- How much companies pay for corporate security. (newsletter.rationalwalk.com)
Fund management
- Aaron Brown, “I would add that the investment management business is only one of many in which AI will cause radical revenue reductions for providers, and massive gains for individual consumers.” (bloomberg.com)
- The Bloomberg U.S. Aggregate misses big chunks of the bond market. (wsj.com)
- The private credit business is already too big. (allisonschrager.substack.com)
Syria
- How rebels captured Damascus in a two-week campaign. (wsj.com)
- Nobody had the demise of the Assad regime on their bingo cards. Nobody knows what happens next. (axios.com)
- The Assad regime survived only because of foreign support. (msn.com)
- The civil war in Syria has gone on so long it’s easy to forget all of its implications. (ft.com)
- Nobody knows what’s next for Syria, but at least Assad is out. (vox.com)
- The Assad playbook was a familiar one. (theatlantic.com)
Iran
- Iran just lost another regional proxy force. (theatlantic.com)
- Iran’s reputation among allies is going to take a big hit. (semafor.com)
Russia
- The fall of Assad is a big, fat L for Putin. (rferl.org)
- Russia’s military foothold in Syria is at-risk. (msn.com)
- Even before Syria, the Russian economy was facing pressures. (frontelligence.substack.com)
Earlier on Abnormal Returns
- Adviser links: confident humility. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Have you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)
Mixed media
- Taylor Swift’s Eras Tour raked in more than $2 billion in ticket sales. (hollywoodreporter.com)
- Taylor Swift has reportedly paid out more than $200 million in bonuses. (variety.com)
- NFL team owners also got a boost from the Eras Tour. (huddleup.substack.com)
- Eight things learned from Swift’s “The Eras Tour Book.” (billboard.com)
