Friday links: the written word
Tadas Viskanta
Abnormal Returns
2 hours ago
2 MIN READ
Indexing
- The first retail index fund, via Vanguard, turned 50 years old. (morningstar.com)
- Who won from the index fund revolution? (bloomberg.com)
- ‘Bogle’s folly’ turned out not to be. (wsj.com)
Finance
- A look at the big players in the pre-IPO stock space. (pitchbook.com)
- Is Jane Street a prop trading firm, or a hedge fund? (ft.com)
Walmart
- Last quarter, Walmart ($WMT) sales are best described as mid. (nytimes.com)
- Walmart ($WMT) will finally accept tap-to-pay. (engadget.com)
Technology
- Anthropic is floating talk of a record IPO offering. (fa-mag.com)
- Samsung is returning (big) capital to shareholders. (cnbc.com)
- How Boise, Idaho is feeling the impact of Micron’s ($MU) stock surge. (cnbc.com)
- Stripe is buying OpenRouter for some $8 billion. (semafor.com)
Sports business
- Marc Lore is selling control of the Minnesota Timberwolves at a $4.5 billion valuation. (axios.com)
- The story of UWM Holdings ($UWMC), Matt Ishibia and the Phoenix Suns. (huddleup.substack.com)
- The Oakland Raiders already want more public money for Allegiant Stadium. (brobible.com)
- Bill Simmons and Derek Thompson talk about America’s sports plutocracy. (podcasts.apple.com)
Stay in touch
- Don’t miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
- Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
Health insurance
- Employer health care costs are moving in one direction: up. (axios.com)
- Bank of America ($BAC) spends big on GLP-1s. (cnbc.com)
- Florida saw a big drop in ACA enrollment. (theconversation.com)
Treasury bonds
- Is AI-related borrowing crowding out Treasuries? (nytimes.com)
- Why the Treasury’s move isn’t going to have lasting effects on the yield curve. (ft.com)
- Secretary Bessent isn’t fooling anyone. (paulkrugman.substack.com)
Earlier on Abnormal Returns
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: the difference between work and play. (abnormalreturns.com)
Mixed media
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