Good morning everyone… I am writing to you today with just 9 fingers so I finally have an excuse for all the typos and grammar mistakes. If you follow the markets like me, this is one hell of a week coming up and I will do a detailed plan of what I am...

Markets The only game in town is energy stocks. (trendlabs.com) When everything feels crazy, focus on earnings. (tker.co) Earnings estimates have held up while the stock market has pulled back. (chartkidmatt.com) Strategy There’s only one way to own...

Here’s a preview of what we’ll cover this week:  Macro: RIP NATO; Trump Ends The Ceasefire; Inflation Bells All The Way Markets: Corrections Can Get Worse; Once The Fog Clears; The Software Paradox; The Boring Business Nobody Is Watching; OpenAI Woes...

Also on the site 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 our daily e-mail newsletter. (abnormalreturns.com) Top clicks this week A history...

Bigger Picture, Sunday, March 29, 2026 Apple AI opportunities are slowly morphing into a shape that could resonate globally to both mainstream users, and investors. No more fretting over its AI chatbot options, AI Cloud Strategy, and deals. Or possible...

AVs This time around, the AV hype seems real. (wsj.com) Amazon’s Zoox is preparing to launch its robotaxis in Austin and Miami later this year. (cnbc.com) PJ Vogt on who wins (and loses) in a driverless world. (freakonomics.com) The case for taxing...

Anthropic & OpenAI spruce financials ahead of 2026 IPOs: Investors are increasingly assessing OpenAI vs Anthropic financial metrics, ahead of their anticipated mega-IPOs later this year. The focus has been on both operating and capital...

Strategy Sometimes an investment works out, even when it shouldn’t. (morningstar.com) Don’t discount the impact of skew on investment returns. (fortunesandfrictions.com) Bonds More bond ladder ETFs are coming to market....

Good morning… I had a brutal accident a few days back (a finger was severely damaged) and just getting back to a keyboard so the weekly show here is a little late. It was taped pre accident. I was lucky to have a great hand surgeon on emergency duty....

Today, a deeper dive into the financial operating and capital expenditure models at the two leading LLM AI companies. Yesterday, I covered the dramatic pruning at OpenAI of its two-year old AI video App Sora. And the discontinuation of its $1...