Also on the site The 2026 UBS Global Investment Returns Yearbook is here! (abnormalreturns.com) Are you a financial advisor? Every Friday we send a (free) advisor-focused newsletter. (newsletter.abnormalreturns.com) Don’t miss a thing! Sign up for...

The Bigger Picture, Sunday, March 15, 2026 As I’ve articulated for months now, the AI Tech Wave right now faces the biggest uncertainties from investors around the following two key questions. Will the unprecedented investments in AI Data Centers to ramp...

AVs Google ($GOOGL) is tying part of Sundar Pinchai’s pay to Waymo. (sherwood.news) Amazon’s ($AMZN) Zoox will test its robotaxis in Dallas and Phoenix. (engadget.com) Zoox plans to make its robotaxis available on the Uber ($UBER) app in Las Vegas...

Microsoft Copilot brands & bundles Anthropic CoWork: Microsoft is leveraging its new Anthropic investment by bundling its virally successful Claude Code based Cowork into ‘Copilot Cowork’. It’ll now be sold as a super $99/month/seat bundle to users of...

Retail trading Five minute bets on crypto? Sure, why not? (ft.com) Are retail traders finally pulling back? (sherwood.news) Finance Nasdaq ($NDAQ) is bending over backwards to accommodate SpaceX. (wsj.com) SPVs are booming. Not all of them have clear title...

Economics Cardiff Garcia talks with Stefanie Stantcheva about a paper she co-authored, “Zero-Sum Thinking and the Roots of US Political Differences.” (podcasts.apple.com) Larry Kotlikoff in a wide-ranging economics talk with Prof. Gregory...

Good morning everyone… The panic story that is starting to take shape right now is this… 2008 had ONE crisis. A housing collapse. 2026 has THREE running simultaneously:→ A private credit implosion→ A war shutting down global energy→ A bond market...

Yesterday I discussed the parallel race to build an internet for AI Agents, while reconfiguring the current one for humans to accommodate AI Agents. Also known as ‘AI Bots’. (Or my preferred term, non-humanized, non-anthropomorphized, ‘machine 2...

Good morning… I am back with another episode of The Howard Lindzon Show with Michelle Steele. We open with a rapid-fire mix of real life and markets: Narcan, “Claude Code,” eye strain, and some personal optimization advice. Then we get serious: the...

Companies Apple ($AAPL) now makes about 25% of iPhones in India. (asymco.com) The LiveNation ($LYV) deal will do nothing to bring down ticket prices. (boondoggle.substack.com) Why are people so freaked out about institutional ownership of single family...