Private assets How to torture IRRs to get the result you want. (thealtview.substack.com) A round-up of recent economic research including ‘Buyout Performance with Assets Valued at Market.’ (alphainacademia.com) Increasingly, asset managers act...

Finance Jane Street had a rough July, performance-wise. (ft.com) How private fund placement agents get paid. (cashandcarried.substack.com) It’s hard to argue the Truth Social API is legal or ethical. (newyorker.com) Muni bonds Why Texas pays more...

The biz Altruist is laying the ground work for long-short strategies. (riabiz.com) Wealth managers are falling over themselves to sign Anthropic and OpenAI employees. (ft.com) CAIS raised just $170 million at a reported $2 billion valuation....

Markets After a rough couple of years, the health care sector has broken out. (trendlabs.com) European stocks are sitting at all-time highs as well. (cnbc.com) The degenerate economy is only getting more degenerate. (howardlindzon.com) Fund...

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) Top clicks this week Real yields keep...

Autos Want to bet on AVs? Buy Uber ($UBER). (barrons.com) More Waymo miles driven means more edge cases experienced. (nytimes.com) Auto insurers are finding ways to not pay claims. (wsj.com) China is making big inroads into Europe’s auto...

Markets RIsk on! Consumer staple stocks are undeperforming. (allstarcharts.com) We’re nearing 24/7 stock trading. (barrons.com) Treasury bonds The 30-year Treasury bond auction came in at 5.216%, the highest level since 2001. (finance.yahoo.com)...

Markets CXMT topped Tencent as China’s most valuable company. (bloomberg.com) South Korea’s stock market has bounced. (marketwatch.com) Prediction markets Don’t expect many prediction market inside traders to get prosecuted....

Books Five insights from “Don’t Be Evil: Bad Bosses, Fake Promises, and My Escape from Big Tech” by Claire Stapleton. (nextbigideaclub.com) Brett McKay talks with Ian Bogost, author of “The Small Stuff: How to Lead a More...

ETFs Goldman Sachs ($GS) is buying ETF provider Neos. (citywire.com) Leveraged ETFs are increasingly driving market moves. (wealthmanagement.com) Prediction markets The CFTC is backing up Kalshi in its fight with New York state. (gizmodo.com) Polymarket...