Markets An industry has already built up around SpaceX ($SPCX) derivatives. (axios.com) The AI boom is being fueled by debt. (axios.com) Strategy Sometimes models just stop working. (ofdollarsanddata.com) Seven lessons from the SpaceX ($SPCX)...

Prediction markets Prediction markets are not above manipulation. (iai.tv) Prediction market arbitrage opportunities are drying up. (nytimes.com) Research The historical performance of IPOs isn’t great. (novelinvestor.com) Why dividend investors...

Markets A look at the stocks that have jumped more than 100% over the past year. (morningstar.com) The American stock market has shifted from buying back stock to issuing stock. (bloomberg.com) On the parallels between the railroad and AI...

Podcasts Frazer Rice talks with Ted Merz, of Principals Media, about how social media works for companies these days. (frazerrice.com) Scott Martin talks with Zach Conway, CEO of Seed Investor, about how to best use direct indexing....

Markets Big IPOs lock in a series of market events. (rockandturner.substack.com) Is European stock market a viable alternative to the U.S.? (wsj.com) How the AI boom is remaking the stock market. (ft.com) Can you build a better S&P 500? (tker.co)...

Also on the site Radical uncertainty and global demographic decline. (abnormalreturns.com) Are you a financial advisor? Sign up for the weekly Talking Wealth newsletter. (talkingwealthpod.com) Don’t miss a thing! Sign up for our daily e-mail...

Autos Why American cars can’t have normal headlights. (theatlantic.com) China’s EV adoption rate is soaring. (sherwood.news) The Rivian ($RIVN) R2 is here. (cnbc.com) Transport Protected bike lanes give a big boost to riding. (phys.org)...

Global Germany is spending big to revive its rail system. (giftarticle.ft.com) Sweden’s wage inequality is markedly lower than the U.S. (arindube.substack.com) Why Russia has hobbled its own internet. (giftarticle.ft.com) North Korea’s economy...

Podcasts Cameron Passmore and Benjamin Felix talk with Ben Carlson, author of “Risk and Reward.” (rationalreminder.libsyn.com) Peter Lazaroff talks with Prof. Henrik Bessimbinder about the long term record of the stock market....

Research Just how activist are activist investors? (ft.com) Which analysts add the most value? (klementoninvesting.substack.com) How much of S&P 500 profits is being driven by investment gains? (substack.com) What happens when you properly measure...