NewBird AI, an Avis Budget squeeze, sports factor models and recursive online courses.

Markets How volatile has 2026 been so far? (morningstar.com) History tell us volatility is a feature of financial markets. Act accordingly. (larryswedroe.substack.com) Historical edges can disappear. (quantifiableedges.com) Companies Allbirds ($BIRD) is...

Good morning everyone… The second annual Stocktwits Cashtag Awards are approaching fast. You can grab tickets on the site in the links above. Some of my favorite investors are joining to celebrate the best of the financial web in 2025. We are proud to...

Podcasts Daniel Crosby talks with Joseph Moore, author of “How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t).” (podcasts.apple.com) Amy Arnott and Christine Benz talk with Harry Margolis...

The best story about The New York Times this week didn’t appear in the paper. In fact it wasn’t an article at all, but a web site created by a freelance journalist named Ted Alcorn. Alcorn tapped into the paper’s public API to create a dashboard that...

Amazon just upped the ante in space infrastructure, with its eye-catching satellite company purchase. In close coordination with Apple, who also has a long-term eye on this tech stack layer. All to compete against Starlink more aggressively. The ‘crown...

Also BDC secondaries, carbon removal removal and mention market correlation trading.

Anthropic and OpenAI are self-appointed as the ‘Guardians of the AI Galaxy’ — launching frontier models behind a sheath of cybersecurity caution at the highest levels. ‘Boys-Who-Cried-Wolf’, or genuine guardianship? Both, probably. Some days more of one...

Strategy Ten beliefs about markets including ‘Survival is the most important and neglected goal for all investors.’ (behaviouralinvestment.com) Can you overdiversify your portfolio? (morningstar.com) Prediction markets Why market making...

Podcasts Joe Weisenthal and Tracy Alloway talk with Jonathan Heathcoate, co-author of the paper “A Macroeconomic Perspective on Stock Market Valuation Ratios.” (podcasts.apple.com) Pierre Daillie and Mike Philbrick talk portfolio buildling...