Markets What happens to the Mag 7 when the big AI companies are public? (ft.com) IPOs and secondary sales highlight a shift in the market environment. (theatlantic.com) How the end of cheap capital changes things. (hbr.org) Strategy Global stock market...

Research How to teach AI to invest better. (elmwealth.com) Models change. Why it’s important to understand the reasons why. (rpc.cfainstitute.org) No matter how you look at it, active funds have underperformed. (morningstar.com) Does HFT actually...

Markets SpaceX ($SPCX) stock is well off its highs. (futurism.com) SK Hynix has topped Samsung to become South Korea’s most valuable company. (wsj.com) Strategy Don’t kid yourself. You are not going to get rich calling market tops and...

Podcasts Ben Johnson talks semiliquid funds with Brian Moriarty and Jack Shannon. (morningstar.com) Peter Lazaroff talks with Cameron Passmore of PWL Capital about the importance of scale in firm building. (peterlazaroff.com) Kyle Van Pelt talks with...

Markets The speed of the move in semiconductor stocks is stunning. (howardlindzon.com) Markets (and the world) just seem to move faster these days. (downtownjoshbrown.com) Finance Why Jane Street is betting big on AI. (wsj.com) Bain Capital’s buyout...

Stay in touch In the business of financial advice? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com) Don’t miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com) Top clicks this week A look at the...

Autos How Carvana ($CVNA) plans to sell new cars. (cnbc.com) Lyft ($LYFT) and Uber ($UBER) prices for the same ride can differ dramatically. (consumerreports.org) Uber ($UBER) AVs are coming to Houston. (techcrunch.com) Waymo Waymo has a construction...

Markets How markets have performed under different Fed chairs. (chartkidmatt.com) Mid-cap industrial stocks are at all-time highs. (trendlabs.com) Why is volatility contained? (etf.com) Fund management How indexing took hold in bond funds....

Degens Is degen behavior becoming embedded and normalized? (fa-mag.com) Strategy ($MSTR) has a Stretch ($STRC) problem. (ft.com) Strategy Baby Boomers aren’t going to crash the stock market. (awealthofcommonsense.com) Rules of thumb work until...

Books An excerpt from “The Octopus Organization: A Guide to Thriving in a World of Continuous Transformation” by Phil Le-Brun and Jana Werner. (annieduke.substack.com) An excerpt from Ian Bogost’s forthcoming book, “The Small Stuff: How...