Markets U.S. stock returns are rarely normal. (ofdollarsanddata.com) Betting against U.S. stock has historically been a loser. (optimisticallie.com) Market bubbles are as old as markets. (acadian-asset.com) Finance State Street SPDR Nasdaq 100 ETF...

Books Phil Bak talks with Aaron Brown about his new book “Wrong Number: How to Extract Truth From a Blizzard of Quantitative Disinformation” (philbak.substack.com) A review of “Stock Market Maestros: The Winning Habits, Strategies,...

Markets The Mag 7 is underperorming YTD. (awealthofcommonsense.com) Small caps are not. (wsj.com) Finance Why dividend investing is dead. (flyoverstocks.com) Robinhood ($HOOD) defined Brokerage 1.0. ‘Brokerage 2.0’ is already...

Podcasts Michael Batnick talks with Jon Stein, founder of Warmer, a platform for helping people find the right human financial advisor.. (youtube.com) Sean Allocca and John Manganero talk with David Blanchett about big mistakes in retirement...

Markets We only know about structural breaks in retrospect. (humbledollar.com) Stuart Kirk, “The wisdom of crowds has never lain in the consensus. It lies in the disagreement.” (ft.com) Business Companies are choosing...

Stay in touch Are you a financial advisor? 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 Why are investors...

Autos Tesla ($TSLA) had a good Q2. (arstechnica.com) On the (potential) return of the small pickup. (wsj.com) It’s not just Buc-ee’s. Gas stations are getting bigger. (cnbc.com) On the relationship between speed and fuel consumption....

Finance Blackstone ($BX) backed Jersey Mike’s has filed to go public. (restaurantdive.com) The art market is increasingly financialized. (humbledollar.com) Private credit Blue Owl ($OWL) sees continued redemption requests. (finance.yahoo.com) Why...

Markets The Yen is at a 40-year low relative to the U.S. dollar. (axios.com) SpaceX ($SPCX) debt trades like junk. (bloomberg.com) Fund management Why there is an overhang on StepStone Group ($STEP) shares. (hntrbrk.com) How Micron ($MU) came to make up...

Books Mary Childs talks with Liaquat Ahamed, author of “1873: The Rothschilds, the First Great Depression, and the Making of the Modern World.” (youtube.com) Five insights from Michael Pollack’s new book, “Sidewalk Nation: The Life...